CareerWise 2004

Accountants are in demand, well respected, and major players in the global marketplace. And the best part, it's a profession that offers job stability and good salaries.

A career in accounting offers many possibilities that can bring excitement, achievement, and responsibility. When opportunities are expanding as rapidly as they are now, it becomes crucial to stay up to date on this rapidly changing and diverse field.

CareerWise is an annual publication that is designed for students who are interested in a career in accounting. Whether you've already made a decision to become a Certified Public Accountant or are still considering your options, CareerWise provides insight into the accounting profession to help you make the best career decision possible.

The Society of Louisiana CPAs invites you to get a head start on your career plans by becoming a Student Member of the Society of Louisiana CPAs.

We want to be a resource for you throughout your career. As a Student Member of the LCPA, you'll realize the benefits of having a strong, professional organization behind you, providing support and helping you build a bridge to your future.

If you have a comment you'd like to share about CareerWise or a question about a career in accounting, e-mail us at lrichardson@lcpa.org.

Think past college graduation for a moment and imagine yourself in a career. Do you want to start your own business or be an executive in a Fortune 500 company? Travel overseas? Or maybe you want to learn the ins and outs of different businesses and organizations before you decide what’s right for you.

Through study of business and accounting, you’ll have terrific career options in whatever field you choose, and you’ll have the chance to work with some interesting people. When you take it to the next level – CPA certification – you’ll have the opportunity to become a leader in your chosen field.

Unlike someone with a general business degree, which can be difficult to quantify for an employer, a CPA comes with an understood set of professional skills and qualities, like creativity and integrity. These skills can keep you in high demand in every business today. You can enjoy job stability and financial security in any industry you choose, but it all begins with making accounting your choice.

Career Options
CPAs are a lifeline to the business world. They interpret complex data and help turn it into real knowledge and a vision for a company’s future. In the simplest of terms, they are relied upon to help companies stay successful. As such, the need for their skills always exists.

An accountant on a CPA career path holds a unique position. He or she can work within a company, helping to shape its future, or follow a consulting path – acting as a specialist coming into an organization, investigating opportunities for profit and potentials for loss, and giving invaluable advice before moving on to the next client.

Your entry into public accounting, for example, will expose you to CPA services like auditing, and the experience you’ll gain there will open up other career opportunities for you. Auditing work brings you extremely close to the operations of a wide range of businesses, giving the CPA unique expertise in each. You can use it to measure what type of business or industry appeals most to you, and focus your knowledge there.

Because of the breadth of their skills, CPAs benefit from ease of movement within financial areas. From the CEO of Nike to a high-ranking official in the FBI – these are careers that started with accounting and CPA certification. CPAs can also enter nonfinancial areas as well, such as operations, marketing and human resources.

Creativity
The CPA is often called on to turn a tangle of numbers and statistical data into something a company or other organization can use – vision. By pursuing the CPA career path, you’re not only developing your financial skills, you’re building leadership skills, communication skills, and, more importantly, the ability to intelligently and accurately translate complex data and produce real, tangible information and knowledge from it.

Job Stability and Financial Security
As old skills become outdated and better ways of thinking about traditional business problems are required, the demand for CPAs only increases. Whether the economy grows or stumbles, CPAs are needed because their knowledge can be crucial in helping to build or even repair an existing business, non-profit, or government organization.

Salaries for accountants are stable and continue to rise steadily each year. Additional qualifications such as a CPA credential can increase a candidate’s base salary by an average of 10 percent. Newly emerging, specialized fields (for example, forensic accounting or assurance services) command even higher salaries. (See page 17 for salary information).

Working with People
You’ve heard how accounting can influence profitability, but did you know accounting can also make an important difference in the lives of the people and businesses it serves? CPAs work closely with people to take their financial goals – estate planning, planning for a wedding, saving for their kids’ college education, passing along a privately owned business, investing for retirement – and develop plans to achieve them. They help businesses find new avenues for growth, and even participate in environmental protection (as environmental auditors).

Working with people is one of the most important skills a CPA can have. CPAs are often working in an advisory role, solving difficult financial problems with teams of individuals from one business to another. They mix with different personality types and all kinds of different clients, from rock stars to rocket fuel manufacturers.
Some CPAs, working in areas such as fraud investigation, even get involved with criminal investigations and appear as experts on the witness stand in litigation cases.

Integrity and Trust
There’s no question about it – CPAs are some of the most trusted professionals in the world of business. Their commitment to objectivity, integrity, and education is both a requirement and a source of respect from their clients. In protecting a company’s or individual’s financial goals, there is both an enormous responsibility and a level of trust other professions can only hope to have.
Editor’s Note: Reprinted with permission from the American Institute of CPAs, StartHereGoPlaces.com.

Fundamental Skills = Many Possibilities
In business, change (and the ability to successfully adapt to change) is not an option – it’s a requirement. Change and adaptability are the keys to survival and success in business. Today’s and tomorrow’s leading professionals require a depth of knowledge and a refined set of skills that can be attained by choosing an accounting major and becoming a CPA.

The professional skills you’ll learn as an accounting major are essential to business. They’re also fundamental in preparing you for nearly any other career possibility you might explore.

Strategic and Critical Thinking
One seemingly small decision today might have a significant effect on a number of other decisions in the future. A good example of using strategic thinking in your life is choosing an internship. An internship can allow you to make professional contacts within a company or industry you’re interested in working in later. Strategic thinking is a “big picture” skill – a professional ability that will serve you in everything you do.

Problem Solving and Decision Making
The ability to analyze, rather than just memorize, information is the foundation for intelligent problem solving. In a career where you could be making decisions worth millions of dollars, you want to be sure your conclusions are reliable and 100 percent accurate. Your studies as an accounting major and professional experience as a CPA will provide you with the training to make important decisions confidently in your professional and personal life.

Risk Analysis and Measurement
Equally important to the positive effect of any strategic decision is its counter side: risk. Your ability to identify and control risk is extremely valuable. In business, it can minimize financial loss for some industries; for others, such as the automobile industry, it can save lives.

Research and Reporting
Unlike an abstract art painting, which is relatively open to a viewer’s interpretation, business depends on hard, statistical data to make intelligent decisions. The decision-making skills you’ll learn as an accounting major, and later in your role as a CPA, are supported by your ability to effectively research relevant information, both qualitatively and quantitatively, for a specific purpose or project and communicate your findings and recommendations.

Technology
You don’t have to be a technology expert to succeed in business. You just need an understanding of how technology affects business in a broad sense and how one applies it. The truth is, every business relies on technology in some way. When you major in accounting and work as a CPA, technology skills will enable you to act as a translator of sorts, explaining the strategies of business decision makers to the IT professionals who implement those decisions through computer software and hardware solutions.

Resource Management
Resource management is about knowing your limitations and working well within them. The skills you’ll learn as an accounting major and your experience as a CPA will allow you to manage every type of resource – human, financial, physical, environmental – to sharpen your ability to effectively control any project. Every type of project operates on the principles of efficient resource management, from a film production to an undercover FBI operation. You’re held to strict budgets, and must ensure that people are doing what they’re supposed to do, when they’re supposed to do it.

Communication
As with any kind of business professional, you can expect to be called upon to present complex information in a way that can be understood by individuals with diverse capabilities and interests. You’ll also need an understanding of organizational communication and how it can be affected by various factors such as new technologies. Accounting studies will give you the training to get in front of groups of professionals or nonprofessionals and communicate effectively in the most appropriate medium for your audience. You’ll learn how to listen, speak, write and respond effectively, as well as gain the ability to recognize and understand conceptual or theoretical issues.

Leadership and Team Building
In almost every kind of experience you’ll ever have, from recreational (theater or athletics) to professional (for example, as a CPA), you’re going to be working as part of a team. The ability of the group to meet its goals depends on good leadership and team-building skills. As an accounting major, you’ll learn how to work well with all types of people. And you’ll learn the importance of objectivity, diversity, and integrity in a group setting. This will help you lead and succeed in appropriate circumstances.

Business and Client Focus
Different industries are affected by completely different factors. For instance, a drought could have devastating effects on the wine industry, while better standards for computer encryption and online security could cause an online retailer’s business to soar. Factors such as striking unions, oil embargoes, and even war can have a great impact on any number of industries which, in turn, can affect your client’s business.

Aside from teaching you how to work comfortably with a diverse group of individuals, an accounting major will provide you with the skills to work with diverse business markets. You’ll identify economic and business risks, and the opportunities of the market in which they operate. In addition, you’ll understand different market needs, how to develop new markets, and provide useful insight in the global marketplace.

Editor’s Note: Reprinted with permission from the American Institute of CPAs, StartHereGoPlaces.com.

Today’s CPAs work in a variety of areas such as managerial and financial accounting, financial planning, and assurance services, to name a few. Of course, you’ll find them in every industry, from not-for-profit and government agencies to professional sports, fashion, entertainment and beyond.

The courses you’ll take in college will not only prepare you for these new career paths, they’ll also help you develop some very fundamental competencies such as strategic thinking, communications, and an understanding of how technology can be used to provide business solutions. These skills are the tools of the CPA, and can also be applied to any profession you choose.
So, where should you focus your studies? Take a look at the areas of study that represent the future of the accounting profession.

Managerial Accounting
If financial accounting focuses on past performance, managerial accounting looks at the present and the future. By using the information generated in financial accounting, decision makers within an organization (managers, executives, and directors) can improve the way they run day-to-day operations and plan for tomorrow. Managerial accounting courses focus your ability to think creatively in business – for example, figuring out how to fund an overseas facility for a business or launch a new product, or improve the efficiency of an organization’s operations.

Here are some college courses you can take in managerial accounting:
• Principles of Managerial Accounting
• Cost Accounting and Control
• Accounting for Business Operations
• Advanced Issues in Managerial Accounting

Financial Accounting
By studying financial accounting, you’ll gain the skills to assist people, businesses, or other organizations in reaching their most essential financial goals. CPAs analyze past activities and future trends and use that information to help businesses and individuals make smarter financial decisions going forward. In fact, the best way to understand a company’s real economic performance is through financial reports.

Here are some college courses you can take in financial accounting:
• Financial Statement Analysis
• Intermediate and Advanced Accounting
• Corporate Finance and Accounting
• Accounting for Investments and Financing
• Accounting in Capital Markets
• Mergers and Acquisitions
• Global Accounting and Reporting
• International Business Transactions

Tax and Financial Planning
When companies need important business transactions managed or individuals want their investment portfolios structured, they turn to the most trusted, most objective, and most qualified professional: the CPA. And the CPA turns to his or her tax and financial planning skills.

This is a core area of study for the profession. It refers to a wide area of services that interpret and create financial value (for individuals or businesses) by using a range of information, and it’s indispensable in the profession of public accounting.

Here are some college courses you can take in tax and financial planning:
• Tax of Business Entities
• Tax Strategies for Corporations and Shareholders
• International Tax
• Individual Tax Planning
• Investment Strategies

Assurance and Information Integrity
Business leaders require qualified assurance that the information on which their decisions are based is accurate and reliable. One of the most important qualified assurances is the financial audit, which is essential to verify a company’s financial reports – only a CPA can do this. Recent business events have highlighted the importance of accuracy and integrity in relation to the financial audit. Businesses in every industry require qualified people to perform this process in order to ensure continued success – this makes the CPA’s role one of utmost importance, and keeps demand for CPAs high.

Through your studies in assurance services, you’ll become qualified to help businesses interpret data to provide them with insightful information and knowledge. You’ll learn to research and interpret information, and put it in a useful, ethical context. And your findings and recommendations can help that company improve operations.

Here are some college courses you can take in assurance services and information integrity:
• Auditing
• Accounting Processes and Controls
• Operational Auditing
• Advanced Accounting Information Systems
• Management Information Systems (MIS)
• Business Risk and Controls
• Forensic Accounting
• Fraud Prevention and Detection
• Environmental Accounting

Non-for-profit and Governmental Accounting
The continued efforts of hospitals and colleges, as well as of charity organizations, depend on accuracy and objectivity in financial reporting and operations. For not-for-profit organizations, accounting is a lifesaver. You’ll learn how to help not-for-profits allocate their financial resources, as well as find out about the unique regulations and tax breaks afforded to them. If you choose to work with not-for-profits after college, as their CPA you often have the additional responsibility of helping organizations improve their operations and fund-raising efforts.

Governmental accounting studies cover everything from government operations in your hometown all the way up to federal agencies. At the federal level, some of the largest government employers of CPAs are the Internal Revenue Service, State Controller, Federal Bureau of Investigation, and Securities and Exchange Commission. Even the President of the United States relies on the information supplied by CPAs when preparing the federal government’s annual budget.

Here are some college courses you can take in not-for-profit and governmental accounting:
• Accounting Processes and Controls for Not-for-profit and Governmental Agencies
• Not-for-profit and Governmental Accounting

Editor’s Note: Reprinted with permission from the American Institute of CPAs, StartHereGoPlaces.com.

No one’s going to tell you that it’s easy to succeed in business. But whether you realize it or not, what you already know could help take you pretty far. The way you run your life right now could prepare you for a truly successful business career in any number of industries – or even running your own business.

The skills you’ll develop in business studies will give you a foundation that prepares you for almost anything. Better still, some of those skills are already evident in the things you do every day – from leadership and communication skills you might use in class and on the playing field, to technology skills and business savvy you may have developed working a part-time job. Explore this section to learn more about the important skills you’ll need for success.

Leadership
Being a good leader requires two things: being able to bring other people together for a common goal, and knowing how to get the best out of everyone around you. Strong leadership is critical to the success of any organization – whether it’s a football team, a government agency, movie production company, or an international accounting firm. Think about the leaders you admire most – their confidence should be totally contagious.

One of the most important aspects of leadership is the ability to follow. That may sound strange, but think about it for a moment. As a leader, you’re often expected to follow a set of rules or guidelines and encourage others to do the same. This helps organize the group along a common goal, and helps you better manage the outcome. The ability to understand guidelines often allows you to deal with the unexpected.

Your Leadership Skills
Think about all the ways you’ve served as a leader to those around you. For example, have you ever:
• Trained a new employee at a part- time job?
• Tutored one of your classmates?
• Worked as an editor on your school paper, yearbook, or any other publication?
• Served as an officer in student government or in an after-school club?
• Organized a dance or other event?
• Acted as captain of a sports team, intramural team, or cheerleading squad?
• Worked as a camp counselor? Scout leader?

Communications
Good communications aren’t limited to public speaking. That’s important, of course, but so is listening. And writing. All of these qualities contribute to your ability to communicate well. In business, whether you’re working with a team of people from diverse backgrounds or just one-on-one, you will inevitably be called upon to present, explain, and defend your ideas. It may be in a formal setting, like a meeting or conference, or informally to someone you work with.

Your ability to receive information is just as crucial as your ability to present it. Displaying empathy and sensitivity, as well as your ability to interpret situations critically and thoughtfully, will earn the respect of the people around you. Think about the way you relate to your own friends; that kind of attention is just as important in business.

Your Communication Skills
You can develop some of your communication skills by taking certain courses in school, but you can also develop some of those skills by paying attention to the way you interact with others. Think about whether you already do the following:
• Work in a team environment (for a class project, club, sport, or job).
• Make presentations and speeches (in class or outside of class).
• Write for your school newspaper or other publication (such as an online journal, zine, etc.).
• Organize and write papers for class.
• Help your friends with problems. Have you ever been told you’re a good listener?
• Participate in any kind of public
speaking organization (debate club).
• Act in your school plays, perform stand-up comedy sketches, or play in a band.

Technology
Nearly every industry is computerized in some way, and computers may already be second nature to you. You should know about existing and emerging technologies in business environments and understand how to use them effectively.
The most common elements of technology include online technologies like e-mail, instant messaging, net conferencing, and the Web; wireless technologies; accessing information through electronic databases; and a familiarity with the latest spreadsheet, presentation, and word-processing software (for example, the Microsoft Office software suite).

Your Technology Skills
You may not even realize how much technology you use each day, and how you can work that into real professional skills. Here are some ways you might already be flexing your technology muscles:
• Online time – surfing the Web, writing and answering e-mail, using instant messaging, downloading and uploading files.
• Creating Web pages.
• Computer programming – in class, through a club, or on your own.
• Writing papers or letters on your computer.
• Keeping things organized electronically (such as a database containing your record collection or friends’ phone numbers and addresses).
• Using online resources to research projects for school.

Business Saavy
Being business savvy is more than just closing a big deal with a friendly handshake. It requires creative thinking and problem-solving skills. You should know how to examine information, interpret it, and use the results to develop some creative solutions. The innovative answers are often the difference between being good and being great in the business world.
And don’t ever forget this: in business, you’re potentially dealing with a lot of money. That comes with a real responsibility, and superior ethics and honesty always go without saying.

Your Business Savvy
Maybe you haven’t brokered any multibillion-dollar mergers yet, but you’re probably already doing things every day that reveal your business savvy. Continuing to exercise these skills can really mean a lot as you think about college and everything that follows. Do you do any of the following?
• Read or watch the news. (Are you pretty interested in what’s going on in the world?)
• Play strategy games. (This might sound odd at first, but the skills you use to play video games, such as decision making and strategic thinking, are actually good models for how you will handle business situations.
• Excel in classes like math, chemistry, English, history, and physics.
• Enjoy solving logic problems.
• Create or maintain schedules for a group of people (for work, clubs, etc.).
• Come up with creative ways to solve ordinary problems.

Editor’s Note: Reprinted with permission from the American Institute of CPAs, StartHereGoPlaces.com.

Accounting is rapidly becoming a knowledge services profession. It’s no longer just a numbers game – the next generation of accountants will be strategists who must understand not only financial data, but also its impact on all aspects of the business. Tomorrow’s accountants must be technologically savvy. And, they will have to be able to work with anyone in an organization, from the CEO down, with coworkers in nonfinancial disciplines as well as colleagues in the field.
Test your knowledge and skills with this quiz to find out if you have what it takes to be a Next Generation Accountant.

1. Other than traditional financial knowledge, which will be the three most important aptitudes for accounting professionals in the future?
A. Attention to detail, ability to work independently, concentration
B. Technological savvy, strategic planning/decision making, interpersonal skills
C. Ability to multi-task, diplomacy, motivational skills
D. Flexibility, professionalism, logical thinking

2. Which of the following best describes your approach to working with others?
A. I’d rather stay in the background and quietly do my job.
B. I like to work independently – the team approach seems inefficient to me.
C. I enjoy interacting with different types of people, especially those outside the accounting profession, because it’s interesting and challenging.
D. I prefer to be in charge at all times – autonomy is important to me.

3. How much should accounting professionals know about technology?
A. Just how to use accounting software – leave the rest to the IT professionals.
B. Accounting software (like spreadsheets) plus a word processing package for writing letters and memos.
C. The most current accounting software packages, word processing applications, and e-mail and calendaring software. It might also be useful to know how to do Internet searches.
D. Accountants should be well-versed in computer code and programming languages; spreadsheet, database and analytical software; electronic security and online assurance; how e- commerce works; wireless technology; Internet engineering and how to use Web-based accounting applications.

4. Which of the following best describes your verbal communication skills?
A. I’m good at both one-on-one and group interactions, and I enjoy sharing information with others.
B. Talk less, work more – that’s my motto!
C. I’m uncomfortable speaking with more than two people at a time.
D. I’m outgoing and I don’t mind sharing my opinions.

5. Which of the following best describes your written communication skills?
A. Adequate – I want to be an accountant, not a poet!
B. I’m no English major when it comes to spelling, but I get the point across.
C. I’m an effective and concise business communicator, and I’m especially good at translating financial data into a layperson’s terms.
D. With spell-checker and other technologies, writing is really less important than it used to be, so it’s not a skill I think about much.

6. Which is the best way to lead and manage people?
A. Determine your objectives, then issue a comprehensive memorandum outlining goals, activities and related deadlines.
B. Encourage people to brainstorm solutions and new ideas; give public praise and recognition often; critique the work, not the person; be sure your instructions are clear and specific; solicit feedback; listen attentively.
C. Before making a major decision, ask others for their opinions. Even if you already know what you’re going to do, it will make them feel included.
D. Post motivational messages around the office.

7. How much should corporate accounting professionals know about other departments and functions in the company?
A. Enough to be able to see who’s over budget for the year.
B. Just the names and basic descriptions of the other departments.
C. Know the names and titles of the people with whom you interact most often, like the benefits person from HR or the guy in Tech Support.
D. You should know what other departments do and how their activities contribute to the bottom line. In addition, you should know the key players in each division – senior executives, administrative liaisons, project team managers.

8. Assuming basic accounting knowledge as a given, which of the following are most important for an independent financial consultant?
A. Specialization
B. Strong marketing skills
C. Technological proficiency
D. All of the above\

9. In the future, a certification – such as CPA, MBA, CMC, CPM – will be more important than ever for those who wish to advance in their careers.
A. True
B. False

10. Which of the following statements most closely describes your own feelings about professional development?
A. Ongoing professional development really isn’t necessary unless you’re a manager.
B. Professional development is important, and my employer should provide the training I need.
C. I think it’s important to take classes and workshops regularly to keep up with changes in the field of accounting as well as to improve my skills.
D. I learned everything I need to know in college.

11. You are asked to provide a cost/benefit analysis of your company’s new e-commerce plan. You’re unfamiliar with certain aspects of the plan. How do you respond?
A. Check the budget for such activities, then ask someone in IT how much it will cost to configure the website for electronic transactions. Compare the two figures – if the estimate is overbudget, nix the plan.
B. Through interviews with key players in other departments (IT, marketing, sales, new business development, etc.), determine the short- and long- term effects on the business. Analyze the company’s past performance and future goals. Study the market, assess the state of the economy, consider business and technological trends. Then compile your analysis and make your recommendation.
C. Don’t waste your time on an analysis. Everybody else is getting into e-commerce – your company probably should too, so just say so.
D. Tell your supervisor that you lack the technical expertise to understand the plan.

12. Which one of the following will NOT be an area of specialization for the Next Generation Accountant?
A. Integrated systems
B. Environmental compliance
C. Business Performance Measurement
D. Architectural integration

Editor’s Note: Reprinted with permission from Robert Half Finance & Accounting. Visit Robert Half International’s Next Generation Accountant website at www.nextgenaccountant.com.

1. B. Technological savvy, strategic planning/decision making, interpersonal skills are absolutely vital to your career success.
2. C. Your outlook will make you an effective, productive addition to any team.
3. D. Accountants should be well-versed in all these areas of technology. You may not know all of this yet, but if you do you’re highly marketable and on the fast-track to success.
4. A. One-on-one and group interactions, and sharing information with others are exactly the traits that make an effective verbal communicator. You’ll do well in the future workplace.
5. C. It will be particularly important in the future for accounting professionals to present complex data in nonfinancial terms.
6. B. You recognize the best way to lead and manage people. You’re management material of the highest quality.
7. D. By being aware of what other departments do and how their activities contribute to the bottom line, and by knowing the key players in each division, you’ll be able to determine and explain the impact of financial data on every aspect of the company.
8. D. For optimum effectiveness and success, consultants need to have in-depth knowledge in one of the hot accounting specialties (such as information technology, personal financial planning or e-commerce, for example); skills to market and grow their business and technological proficiency to leverage new tools.
9. A. In a survey commissioned of 1,400 CFOs, 85 percent said they believe a CPA or CMA credential helps professionals climb the corporate ladder.
10. C. Spoken like a true life-long learner, which is what you must be to have a future in accounting.
11. B. This is the best way to handle the assignment. And you’re adding value when you include your own informed recommendation.
12. D. Architectural integration is the imaginary specialty – for now!

The Uniform CPA Examination has a long and trusted history in the licensing of Certified Public Accountants. To keep pace with the evolution of the accounting and business worlds – especially in the areas of technology and skills assessment – the CPA Exam has changed to ensure continued protection of the public interest in a rapidly changing world.
The most visible change in the exam is the transition from paper and pencil to a computer-based test (CBT). While there may be some anxiety as the transition takes place, everything is being done to ensure that exam administration goes smoothly. One thing is for certain – the new computerized CPA exam better assesses the knowledge and skills that entry-level CPAs must possess.
To help reduce exam anxiety and make the transition smoother, here are some of the most frequently asked questions about the new computer-based test.

General FAQs
How does the revised CPA exam compare to the previous exam?
The revised exam incorporates increased emphasis on information technology and general business knowledge with a broadened scope in the audit area. Significantly, changes include increased skills testing.

The revised computer-based exam is a 14-hour test with four sections: Auditing and Attestation (4.5 hours); Financial Accounting and Reporting (4 hours); Regulation (3 hours); and Business Environment and Concepts (2.5 hours).

The exam includes multiple-choice questions and case studies called simulations. The multiple-choice portion of the exam appears as sequential testlets. Testlets are groups of questions that are constructed to appear together. Each exam section includes approximately three multiple-choice testlets. Each testlet will contain 24 to 30 items (questions). Each section, except Business Environment and Concepts, also initially includes two simulations. Each simulation is also considered a testlet.

Simulations are condensed case studies that test candidates’ accounting knowledge and skills using real life work-related situations. Each simulation is approximately 30-50 minutes in length and complements the multiple-choice portion of the exam.

All simulations are intended to assess knowledge and skills that are appropriate to expect of an entry-level accountant.

What are the content specifications for the computer-based test (CBT)?
Below are the main content areas for each section of the exam:

Auditing & Attestation This section covers knowledge of auditing procedures, generally accepted auditing standards and other standards related to attest engagements, and the skills needed to apply that knowledge in those engagements.
• Planning the engagement
• Internal controls
• Obtain and document information
• Review engagement and evaluate information
• Prepare communications

Financial Accounting & Reporting This section covers knowledge of generally accepted accounting principles for business enterprises, not-for-profit organizations, and governmental entities, and the skills needed to apply that knowledge.
• Concepts and standards for financial statements
• Typical items in financial statements
• Specific types of transactions and events
• Accounting and reporting for governmental entities
• Accounting and reporting for non-governmental and not-for-profit organizations

Regulation This section covers knowledge of federal taxation, ethics, professional and legal responsibilities, and business law, and the skills needed to apply that knowledge.
• Ethics and professional responsibility
• Business law
• Federal tax procedures and accounting issues
• Federal taxation of property transactions
• Federal taxation – individuals
• Federal taxation – entities

Business Environment & Concepts This section covers knowledge of general business environment and business concepts that candidates need to know in order to understand the underlying business reasons for and accounting implications of business transactions, and the skills needed to apply that knowledge.
• Business structure
• Economic concepts
• Financial management
• Information technology
• Planning and measurement

What resources will I have access to during the test-taking session?
Resources available depend on the simulation that the candidate receives. Those common to all simulations include a four-function pop-up calculator, a blank spreadsheet with some elementary functionality, and authoritative literature appropriate to the section of the test.

While completing the case study simulations, you will use financial accounting, auditing, or taxation databases. The financial accounting database will include certain portions of the FASB’s Original Pronouncements and Current Text. The auditing database will include certain portions of the AICPA’s Professional Standards. The taxation database will include certain portions of the federal tax code. The databases include all the excerpts that are necessary for completion of the case study simulations.

Do I need special training to successfully complete the simulations?
CPA candidates are assumed to possess basic computer skills including the use of a mouse and keyboard. In addition, they are expected to know how to use common spreadsheet and word processing functions, including writing formulas for spreadsheets. They must also have the ability to use a four-function calculator or a spreadsheet to perform standard financial calculations. In addition, candidates will be asked to use authoritative literature, to answer auditing, accounting and taxation questions, to support judgments, and to create formal audit communications.

All CPA candidates are strongly encouraged to review the exam tutorial at http://www.cpa-exam.org/lrc/exam_
tutorial.html. The tutorial explains the design and operation of the computer-based test, and reviews the types of questions and responses used in the new exam.

What skills are going to be measured in these simulations? How are those skills going to be measured?
The revised CPA exam will assess the skills an entry-level CPAs must have in order to ensure the protection of the public interest, as identified by the most recent accounting practice analysis. The skills are: Analysis, Judgment, Communication, Research, and Understanding.
• Analysis is the ability to organize, process, and interpret data to develop options for decision-making.
• Judgment is the ability to evaluate options for decision-making and provide an appropriate conclusion.
• Communication is the ability to effectively elicit and/or express information through written or oral means.
• Research is the ability to locate and extract relevant information from available resource materials.
• Understanding is the ability to recognize and comprehend the meaning and application of a particular matter.

How will essays be handled under the computer-based test?
In place of essays, an assessment of written communication skills will be incorporated into the simulation portion of the revised examination. The testing of written communication skills was identified by the most recent accounting practice analysis and supported by a special task force consisting of CPAs, psychometricians, and writing experts. They recommended testing written communication in context by requiring the candidate to write memoranda, letters to clients, or other communications that an entry-level CPA would write on the job.

Can I go back and review/change an answer during the examination?
You may review and change any answers within each testlet or simulation. However, once you have exited a testlet or simulation, you will not be able to go back to retrieve, review, or change any of your answers to any of the questions.

Will all candidates take the same examination, or will each candidate take a different test?
Candidates will take different, equivalent exams. In the computerized testing environment, each candidate’s examination will consist of items drawn from a pool of test questions according to defined specifications. Although candidates will take different tests, the specifications will ensure that the results are comparable. The specifications will also include “exposure controls” to limit the extent to which examinees are administered the same sets of questions.

With candidates taking different tests, how do you ensure that each candidate is being correctly assessed?
The test delivery system will ensure that all tests meet content and psychometric specifications. The testing package delivered to test centers will contain not only test items, but also the rules for the administration of tests drawn from that collection of items. All items will be classified according to their content and statistical properties before they are administered in an operational test. The testing software will then administer items according to the specifications to ensure that each candidate is administered a test of appropriate content coverage and difficulty.

Test Administration
Will the CPA examination’s administrative process change with the computer-based test?
Much of the process will remain the same; what will change is where and when the examination is given. Individual state boards of accountancy will continue to determine if a candidate meets the requirements to take the CPA exam in its jurisdiction.
Candidates will apply for the examination as they do now – through a state board or its designee. After the candidate has been determined eligible to sit for the examination, the state board or its designee will send the candidate a Notice to Schedule (NTS). The NTS will remain valid for six months. That means candidates will have six months from the date the NTS is issued to schedule and take the examination section(s) for which they have applied.
Approved candidates will then register directly with a Prometric testing center, either by phone or via the Internet, to take one or more sections of the CPA examination. After the candidate takes the examination, the AICPA compiles and forwards advisory grades to the state boards. State boards advise candidates in their jurisdictions of their grades.

How often will the revised Uniform CPA Examination be offered?
The computer-based exam will be offered up to six days a week, during two out of every three months throughout the year (the “testing windows”).

What is a “testing window?”
Each year will contain four testing windows. During the first four testing windows, the exam will be available:
• April - May 2004
• July - August 2004
• October - November 2004
• January - February 2005

Do I need to take all four sections at the same time?
Generally, you do not. In most jurisdictions, eligible candidates will be able to take any or all sections of the exam during any testing window. However, you will not be allowed to take the same section more than once during any testing window. Candidates are encouraged to contact the state board in the jurisdiction in which they plan to test to get specific requirements.

When a board approves a candidate to test, is there a time limit on when the candidate has to test?
It depends on the requirements of your jurisdiction. Once candidates pass any section of the CBT examination, they will have a set period of time from the date of that CBT test section to pass the remaining sections in order to retain credit on the passed section

How often can I take the examination?
It is likely that jurisdictions will allow candidates to take each section of the examination four times a year. Candidates may take any or all four sections of the examination during any testing window. No candidate will be allowed to take the same section more than once during any given testing window.

Will I be required to pass one section prior to applying to take another?
No.

How soon after taking a section of the computer-based CPA Exam will I receive my grade?
Distribution of scores is the responsibility of the Boards of Accountancy. Initially, advisory scores and diagnostic information will be sent from the AICPA to NASBA at the end of each testing window. For example, scores for candidates who take the examination during the first window, April 5, 2004, through May 30, 2004, will be sent to NASBA by June 30, 2004. NASBA will then forward advisory scores to the Boards of Accountancy for distribution to candidates usually within one week. Each Board of Accountancy sets its own schedule regarding the frequency with which it will approve and release scores.

Will scoring/grading change to just pass/fail?
No. The passing standard for the computer-based version of the Uniform CPA Examination will be set at a scaled score of 75, conditioned upon time requirements for passing the other sections.

Applying for Exam
What are the current minimum educational requirements to take the CPA examination in Louisiana?
Louisiana candidates must:
• Have a baccalaureate degree.
• Have 150 semester hours of college credit earned as prescribed by Board Rules.
• Have successfully completed 24 hours of specific accounting and 24 hours of business courses (including an acceptable business law course).
• First-time candidates with a baccalaureate degree, including a concentration of accounting, obtained prior to January 1, 1992, and conferred by a Louisiana college or university, may contact the State Board of Certified Public Accountants of Louisiana to determine if they might qualify without the attainment of 150 hours of college

How much will the computerized exam cost?
The cost will vary for each jurisdiction. In Louisiana, the fee for first-time candidates applying to take all four sections will be at least $600. The cost could exceed $600, if a candidate takes the sections in separate windows.

Where is the exam given?
The examination will be administered in all 54 jurisdictions at Prometric test centers or Board-operated sites. In Louisiana, the CBT examination is administered at Prometric Test Centers in Baton Rouge, Bossier City, and Metairie. Louisiana residents, depending on their locale, may wish to consider the proximity of test centers in Jackson, MS and in the Beaumont and Houston, TX areas if more convenient.

What are the deadlines for the exam?
Application deadlines will probably be eliminated, allowing candidates to apply at any time of year. Once an application is approved, candidates will be notified of the time period in which they may schedule appointments with a test center.

Are there any restrictions on Louisiana candidates taking the CBT exam outside the state?
Louisiana’s State Board does anticipate restrictions. One of the benefits of the computer-based examination is that a testing center outside of the state may be in a city much closer to a candidate then a test center within the state. However, a person may not be a candidate for more than one state at the same time and will not be able to bypass a state’s educational or licensing requirements by taking the examination outside of the state in which he or she is seeking to become licensed.

Once I apply to take the exam, how long before I can actually take the exam?
The time will vary for each jurisdiction and will depend upon whether you are a first-time applicant or a re-examination applicant. First-time applicants must have educational eligibility determined, so the process will take a few weeks. Re-examination applicants should be able to register and will be sent a notice to schedule the examination within a few days.

How will I schedule an exam appointment?
You will apply for the examination as you would now – through your state board. After you have been determined eligible to sit for the examination, the state board will send you a Notice to Schedule (NTS). You will then call Prometric to schedule a testing appointment(s). The NTS will remain valid for a period of time. That means you will have a set period of time from the date the NTS is issued to schedule and take the examination sections(s) for which you have applied.

What if a conflict arises after I have scheduled an appointment to take the exam?
You may reschedule your appointment at no charge as long as you reschedule at least 30 days in advance. If you reschedule between 5 and 30 days before your appointment, you must pay a nominal fee directly to Prometric-currently estimated at $35. If you reschedule within 5 days of your appointment, you will have to pay the full Prometric fee for the section you are rescheduling.

Re-examination
How will current conditioning change under the computer-based CPA Exam ?
Each state board will set the amount of time their candidates who have earned conditional credit will have to complete the examination (transition period). For example, upon the launch of CBT, if you have three examination opportunities remaining that you earned under the paper-based examination, you will likely have three opportunities under the computer-based test to pass the remaining sections.

Will I lose credit for sections passed under the paper-based exam?
You will retain credit for sections of the examination you have already passed. You will not lose credit for sections previously passed, provided you pass the remaining sections in the time or number of attempts allowed (transition period).

How will my current credit transfer?
Current examination credit will be transferred to credit on certain sections of the computer-based test (CBT) as follows:
Credit on paper-based exam for:
• Auditing (AUD) will earn CBT credit for Auditing & Attestation
• Law & Professional Responsibilities (LPR) will earn CBT credit for Business Environment & Concepts
• Accounting & Reporting (ARE) will earn CBT credit for Regulation
• Financial Accounting & Reporting (FARE) will earn CBT credit for Financial Accounting & Reporting

Elizabeth Sessions Bradford, CPA
Consultant, P&N Consulting Postlethwaite & Netterville, Baton Rouge
Passed the CPA Exam in November 2002
Earned CPA certification in February 2003

Why did you become a CPA?
I became a CPA to gain sufficient knowledge and experience to successfully run my own business one day.

What influenced your decision to begin your career in public accounting?
I was interested in the variety of work available and the opportunity to learn about multiple industries and work processes. I enjoy assisting small- and medium-size businesses convert to advanced accounting software as well as the investigative nature of internal audit and litigation support work.

How did having an internship help you with your career?
Interning was instrumental to my career by providing an arena for practical application of my studies and by giving me insight into the inner workings of an accounting group.

Were your expectations about becoming a CPA different from what you’ve experienced?
As I expected, I have been shown a lot of respect when people learn that I am a CPA. Being in public accounting provides a very rewarding experience through the opportunity of working with a group of highly educated professionals. I did not expect the flexibility that public accounting allows, such as the abundance of flex-time and part time workers.

What advice would you give to accounting majors and high school students considering a career in accounting?
I highly recommend a career in accounting! It is an excellent opportunity for anyone with strong technical abilities in the traditional areas of tax and audit as well as those who have the ability to see the big picture to help provide solutions to key business issues through consulting.

Rodney C. Reed
LSU Accounting Major & Offensive Lineman for the SEC champion LSU Tigers
Enrolled in LSU’s Masters in Accounting program.
The only player in LSU football history to earn First-Team Academic honors twice.

Why did you select accounting as a career?
Accounting is a profession that affords people the opportunities to have careers in many other fields. The technical expertise you get while serving as an accountant is invaluable. For example, if you start your career in public accounting, you will have the opportunity to expand upon that or pursue interests in other corporations because you know how business works. I enjoy that accounting is not black and white; there is room for interpretation. Also, many accountants get to help young, immature companies turn into large worldwide organizations.

Which career path in accounting are you considering?
I recently accepted a job offer from Ernst and Young in Houston, TX performing external audit work. Choosing between tax and audit was a difficult choice for me, but the decision came down to the fact that I believe (with all the new compliance measures) auditing will be more challenging.

How do you feel your master’s degree will help you in your career?
A master’s degree in accounting is very beneficial because it gives you more technical expertise. As a professional, you want to amass as much knowledge in as many areas as possible.

What has been the greatest challenge of balancing school/football?
Time management is the biggest issue facing student athletes. Athletics is time consuming and sometimes stressful. Student athletes must make school a reprieve from athletics and vice versa.

How are accounting and football alike?
To be successful in both, you must be dedicated and a hard worker.

What advice would you give to accounting students?
Try to learn concepts and understand why. Don’t just memorize for tests because the subject is cumulative. At some point in your career you will have to learn the material, so why not now.

Michelle Wade, CPA, MBA
Senior Audit Associate
Roberts Cherry and Company
Shreveport, LA
Passed the CPA Exam in May 2003
Earned CPA certification in January 2004

What do you enjoy most about your position as Senior Audit Associate?
I enjoy my friendly colleagues, the interesting clients, and the everyday challenges encountered in this industry.

Were your expectations about becoming a CPA different from what you’ve experienced?
I actually had no idea what to expect by going into public accounting since I didn’t know anyone other than my professors with an accounting background. It was definitely an eye-opening experience for me. I didn’t realize what an important role external auditors play in the business industry and how many people rely on audited financial statements for a multitude of reasons.

How do you maintain a happy balance between work and life?
Both my husband and I have careers in public accounting. During the traditional busy time of year this means extended workhours and a strenuous workload for both of us. We found it difficult at times, but still manageable, to balance our time spent at work with our time at home when we had one child. However, with the birth of our second child and the increased demands on our family, we felt it would be nearly impossible to effectively balance our workloads with our family’s needs.

We decided to look at other options, and realized that the ideal scenario would be a reduced work schedule for me. I approached my bosses with this proposal and found them very supportive and receptive. Now I am working a 30-hour work week and enjoy the flexibility in my hours and the extra time I have to devote to our children.

Angelina Hope Rispone, CPA
Manager, Financial Accounting and Reporting
Louisiana State University, Baton Rouge
Passed the CPA Exam in November 2000
Earned CPA certification in April 2001

Why did you become a CPA?
In May 1998, I earned my accounting degree from LSU but was still unsure if I wanted to become a CPA. Since I still needed about 30 hours to meet CPA testing requirements, I decided to apply for MBA programs instead of pursuing a masters in accounting.

After focusing in operations management and finance at Tulane University while also working part time at Arthur Andersen, I decided that accounting was the correct career choice for my personal and family goals. After graduating from Tulane, I accepted a full-time position with Arthur Andersen and began preparing to take the CPA exam. With luck on my side, I passed the first time and became a CPA.

Why did you decide to make the move from public accounting to governmental accounting?
I began working part time for Arthur Andersen in the New Orleans office immediately after I graduated from LSU, through graduate school and for 11/2 years full-time after that. I loved the people and the work. Other than wanting to move back to Baton Rouge after living in New Orleans for 31/2 years away from family and a serious relationship, I may not have made the move from public to governmental accounting.

After about six months of searching for a job in Baton Rouge, luck played a hand again when at a Society of Louisiana CPAs’ meeting I was reacquainted with my LSU governmental accounting teacher, the current Executive Director of Accounting Services at LSU. She had an opening in her office and asked me to apply for the position. Three weeks later, I moved to Baton Rouge and began working for the university.

Were your expectations about becoming a CPA different from what you’ve experienced?
As an accountant, I was unsure how becoming a CPA would change my career. Not until I began looking for a job did I fully understand the importance of becoming a CPA. As a CPA, and not just an accountant, I qualified to apply for higher-paying jobs with more challenging responsibilities. It was very satisfying to know that all of the education and knowledge that I had accumulated in order to pass the CPA exam was recognized and appreciated by employers.

You currently serve on the Society of Louisiana CPAs’ New CPA Committee. What do you feel are the benefits of getting involved with a professional association?
Interaction with other professionals is the greatest attribute to being in a professional association. I have met many accounting professionals in the Baton Rouge area through the LCPA. Association members can be a knowledgeable resource for accounting issues as well as career development.

Why did you become a CPA?
Initially a career as a CPA in public accounting or industry appealed to me because of its stability. While a career as a CPA is still a stable career, I have found unlimited opportunity.

Were your expectations about becoming a CPA different from what you’ve experienced?
Today’s CPAs serve an important advisory role to clients. The CPA certification carries a lot of value in the marketplace as well as responsibility. Clients trust that the service they receive from a CPA is honest and delivered with integrity.

What college courses did you take that now help you most in your job?
The basic and intermediate accounting courses really provided a foundation to build on. Having that basic foundation has really helped me transition from the student life to the professional career.

What courses do you wish you’d taken now that may have prepared you better?
I really wish I would have taken the tax research class. Because I work mainly in federal taxation, the ability to research tax issues is an important part of our job. This is one of the many skills I learned “on the job.”

As the recipient of the LCPA’s Christopher “Kit” Smith Scholarship, how did the recognition and support impact your life?
The Kit Smith Scholarship was a tremendous help at the time. I was actually married with one child for the last two years of college. The scholarship not only provided me with the much needed financial support, but being selected as a recipient also provided me additional encouragement to continue to pursue my goals.

What advice would you give to students considering a career in accounting?
Go for it! Work hard and study hard. I believe you will find it as much of a rewarding career as I have.

Benjamin R. Fabre
Senior Auditor
Postlethwaite & Netterville
Baton Rouge, LA
Preparing to take the CPA Exam

Why do you want to become a CPA?
I have always had a strong background in math, but I didn’t chose accounting as my first major. I also enjoyed chemistry and started off at Louisiana Tech majoring in chemical engineering. Not long after, I transferred to LSU and got a job in the accounting department, even though I was still an engineering major. After working there for a couple of years, I decided I enjoyed what I was doing at work more than what I did in my classes, so I changed my major to accounting.

What influenced your decision to begin your career in public accounting?
Public accounting doesn’t get boring. I work on so many different clients and have interactions with so many different people during the day that is truly an exciting career.

What college courses did you take that now help you most in your job?
Believe it or not it was the class that covered Microsoft office. In my job I use Excel and Word every day. The more you can learn and know about this software the better off you will be. The other course I had was auditing with Professor Louwers. He did an outstanding job as a teacher. As far as accounting classes go, I have learned the most about accounting on the job. Hands on experience is by far the best.

In addition to your accounting career, you also own a restaurant. How do your accounting skills help your business?
My wife and I opened Doc’s Bistreaux in Plaquemine, LA in August of 2002. My accounting background has enabled me to keep track of our food costs, operating expenses, and most importantly profitability.

What advice would you give to students considering a career in accounting?
It’s tough work, but the hard work pays off. Also, accounting gives you an inside track to how businesses are run. I am primarily an auditor, so I get to see what works with certain companies and what doesn’t. It’s by far the most versatile business career.

New industries, new technologies, and new rules for the economy add up to new opportunities for CPAs. Because there is such a demand for their skills, CPAs benefit from career stability, better salaries, and a steady upward path in their professions.
Take a look at your potential earning power as a college graduate in public and private accounting. With your CPA certification, you can expect to add around 10 to 15 percent extra to these salaries. (Figures represent average starting salaries.)

UPPER-LEVEL CORPORATE ACCOUNTING
Here are some examples of upper-level salaries for Managers in corporate accounting:

Geographic region, experience, education, CPA certification, company size, and bonuses and incentives each play a role in determining salary.

Editor’s Note: Reprinted with permission from the American Institute of CPAs. Source: 2004 Robert Half Salary Guide.

Having the CPA designation after your name does have its benefits. It’s a lot like a degree – it’s shows that you’ve worked hard to meet the requirements and that you have the skills and abilities that stand out from other business professionals. Many graduates seek certification even though they do not go into public accounting because possession of the CPA Certificate is considered to be a mark of professional designation.

According to the revised Louisiana Accountancy Act, signed into law on June 18, 1999, to obtain your initial CPA Certificate in the state of Louisiana, you are required to:
• Complete a 150-hour degree program in accounting at an accredited college or university;
• Pass the Uniform CPA Examination; and
• Attain one year of professional work experience providing any type of service or advice involving the use of accounting, attest, management advisory, financial advisory, tax or consulting skills.

One year of experience may consist of full-time or part-time employment that extends over a period of no less than one year and no more than 4 years. Experience must be obtained within the immediate
4-year period prior to application and verified and supervised by an active certificate holder. Experience can be gained through employment in government, industry, academia, or public practice.

To learn more about licensing requirements, contact the State Board of Certified Public Accountants of Louisiana at (504) 566-1244. Visit the State Board’s website at www.cpaboard.state.la.us to download a copy of the Louisiana Accountancy Act Rules.

The Society of Louisiana CPAs has two student membership categories – high school and college student. Student membership categories enable those interested in or currently in pursuit of a career in accounting to gather the resources, build valuable contacts, and experience the reality of being an accountant – before entering the field.

High school students (freshman to senior year) can become an LCPA student member for only $5.00. This annual fee entitles high school student members to:
• A copy of CareerWise, the Society’s information-packed career newsletter
• $250 tuition voucher for Becker Conviser CPA Review course
• Unlimited use of Members Only sections of LCPA.org
• T-shirt recognizing their student membership

College student membership is offered to any student who either is enrolled in a Louisiana university or college working towards the 150-hour requirement to become a CPA; is enrolled in an Uniform CPA Exam preparation course; or is sitting for the Uniform CPA Exam.
For an annual college student membership fee of $10.00, college student members receive:
• A one-year subscription to Lagniappe, the Society’s member magazine
• A copy of CareerWise
• Access to the LCPA’s Job Referral and Resume Service
• $250 tuition voucher for Becker Conviser CPA Review course
• Unlimited use of Members Only sections of LCPA.org
• LCPA staff available to assist with questions regarding the profession
• T-shirt recognizing their student membership

As part of a profession-wide initiative, CPAs across the nation banded together to take on the challenge and responsibility necessary to retain their premier position as a vital part of the world economy and global community in the 21st century.

The Top Five Core Values were identified. Core Values are the essential and enduring beliefs that CPAs uphold over time. Core Values enable CPAs to retain their unique character and value as they embrace the changing dynamics of the global economy.

Continuing Education and Life-Long Learning
CPAs highly value continuing education beyond certification and believe it is important to continuously acquire new skills and knowledge.
Competence
CPAs are able to perform high quality work in a capable, efficient, and appropriate manner.
Integrity
CPAs conduct themselves with honesty and professional ethics.
Attuned to Broad Business Issues
CPAs are in tune with the overall realities of the business environment.
Objectivity
CPAs are able to deal with information free of distortions, personal bias, or conflicts of interest.

Want to do something great for your future job hunt and your career? Consider joining a professional association – or the student chapter of a professional association! There is a professional association for almost any career field you can mention and you can join at any time, freshman to senior year (or beyond).

You can check with the staff at your career center for on-campus and local chapters of professional associations or use the directory called National Trade & Professional Associations (published by Columbia Books). Many career services offices and campus libraries have this resource. You may do a Web search as well, searching by the career field plus “professional association.”

There are some excellent reasons for joining one in your chosen field. Professional associations publish journals and/or newsletters (which often are a benefit of membership) are helpful to:
• Keep you up-to-date on issues and developments in your field. If you are interviewing, this can be invaluable information!
• Show you who the “movers and shakers” are in your field.
• Tell you out about companies – or individuals – with whom you would like to work.
• Offer information about upcoming conferences and professional development opportunities.
• With your membership, you will often have access to member information. Contacting someone in your field about possible employment as a fellow member of the association may open a door.
• Professional associations often have some mechanism for sharing job listings. This could be a “classified” section in the journal or newsletter, a section on a website, or a separate publication available to members only.

As a member, you will be eligible to attend the group’s conferences. Whether at the state, regional, or national level, professional conferences offer excellent opportunities to:
• Build your network of professionals in the field.
• Learn the latest developments in your field.
• Take professional courses and seminars.
• Professional membership is an excellent addition to your resume! There are few better ways to show your serious commitment to the field.
Local chapters of associations often sponsor programs, maintain alumni networks, and provide other valuable advantages.
• Many professional associations have substantially reduced membership fees for students who are still in college. Fees can get a little pricey if you wait until after you graduate.

Do your future a favor. Seek out and join the professional association in your area of career interest.

Editor’s Note: Reprinted from JobWeb (www.jobweb.com), with permission of the National Association of Colleges and Employers, copyright holder.

Everything we do in life requires communication. Personal and business success often hinges on how well we understand others and how well they can understand us. If one of the objectives of communication is achieving a shared understanding, what can you do to become more effective when communicating?

Do you make eye contact when speaking or listening?
Yes, this is simple suggestion. Take a moment to think about how you feel when someone connects with you in this way. Do you feel really listened to? Does it seem that the person is focused on you and the message you want to convey? Adding a couple of head nods will also demonstrate to the speaker you are really listening and interested in what s/he is saying. Making these simple adjustments in your behavior will help improve your communication.

Do you keep from interrupting and the let person finish what s/he is saying?
One way to enhance your listening skills is to spend more time listening. One of the challenges inherent in listening is that we speak at the rate of 125 to 150 words per minute and we think at the rate of 500 words per minute. That leaves a lot of time for a listener to wander off into his or her own thoughts, jump to conclusions or formulate a response before the speaker has finished saying what they want to say. One way you can stay focused and present in a conversation is by “listening” for the speaker’s non-verbal communication. One estimate has it that 75 percent of all communication is non-verbal. So, with the extra 350 or so words of thinking time you have available when you are listening, focus on the speaker and what they are communicating non-verbally.

Do your words and actions match?
Since communication occurs both verbally and non-verbally, it is important to make the message consistent. Send one message, not two. For example, have you ever found your posture rigid or tense while saying: “I’m fine, everything is just great.” There are two messages being sent. The body is sending one message and the words are sending another. Another example of this is a feeling you can get that someone isn’t telling you the whole story. Next time you have this sensation in a business or personal interaction, look at the person’s body language and/or facial expression. Are the non-verbal cues in alignment with the words being spoken? When verbal and non-verbal communication is in sync, the message is perceived as genuine.

Does your vocal tone and inflexion match the words you are saying?
How you say the words of your message is as important as the words you use when expressing yourself. Think of the phrase, “Thank you” and the variety of ways it can be spoken. Depending on how the words are emphasized it will change the meaning. The same phrase can mean authentic gratitude or sarcasm. Think about the phrase, “Come here.” A parent speaking to a misbehaving child will have a different vocal tone than someone in a business context using the same phrase. Even the word “yes,” can have many meanings depending on how it is emphasized. A soft “yes” has a different meaning than a “YES” that is enthusiastic and forceful. Matching your intonation and inflexion to the message you intend to convey will increase your effectiveness when you communicate.

Are you aware of your barriers and filters?
Everyone has a point of view and at times it will affect how one communicates. Just think about the last time you were having a conversation with your spouse or significant other and then somehow, in a split second, you found yourself in the middle of an argument. How did things shift so quickly? One of you hit a trigger in the other, that’s how things can change so quickly. We all have triggers and in order to communicate responsibly in personal and business relationships it is imperative to know what they are. Everyone has an opinion and is a result of his/her background; the challenge when communicating is to become aware of how these two factors can shut down the communication process.

In the communication process the speaker AND the listener are equally responsible for the success of the interaction. And, because communication is a process, the roles are constantly shifting during a conversation. The speaker becomes the listener who becomes the speaker and so on.

These tips are just a few of the ways you can become more effective in your role as a speaker or listener. Remember, one of the primary needs that communication fulfills is the need to connect with other people. Incorporating any of these suggestions will give you greater access to connection, as well as personal and business success.
Ready to communicate with confidence and ease in EVERY area of your life?

Editor’s Note: Lea Brandenburg is a Coach who specializes in interpersonal and business communication. To find out more about communicating with confidence and ease in every situation, visit: www.creatingstrategies.com.
© 2004 Creating Strategies, Inc. All Rights Reserved.

Everyone knows the importance of a well-crafted resume, but how many job seekers fully appreciate the power of a strong cover letter? This is the first document a hiring manager reviews when considering prospective employees, and it’s the applicant’s initial opportunity to make a good impression.

The best cover letters explain how your unique set of skills and experience make you the right person for the job. They also demonstrate your personality and passion for the position. Ideally, a carefully thought-out cover letter significantly increases your chances of being called for an interview.

Know Your Contact
Addressing your cover letter to the appropriate person is an essential, yet easily overlooked, first step. If a job listing includes only a post office box or reference number, call the company’s receptionist and explain that you’d like the name and title of the manager of the department so that you can send him or her a letter. Even if you know the hiring manager’s name ahead of time, it’s a good idea to double-check the spelling and the appropriate title. One misplaced letter can send the signal that you lack attention to detail.

Stick with the Basics
Your cover letter doesn’t need a clever or witty introduction to grab the reader’s attention; simply state the facts. First, mention the position for which you’re applying and how you learned about it. Next, say why you want the position and what you can offer the employer. A good opening might read: “I recently saw your advertisement in the Anytown News for an audit director and feel my 10 years of experience in the accounting industry makes me an ideal candidate for this position.”

If you’ve been advised by an acquaintance to contact a specific individual about a possible opening, make this connection clear right away. Dropping a name in your introduction will catch the hiring manager’s attention and prompt him or her to keep reading.

Be Brief but Thorough
In general, a cover letter should include two to four paragraphs and take up no more than one page, so you don’t have much room to get your message across. Avoid the impulse to detail your employment history – that information is already contained in your resume. Instead, focus on what a hiring manager really wants to know: how you can benefit the business.

Be as specific as possible by calling attention to one or two points on your resume that highlight past accomplishments. Try something like, “In three years as product manager for ABC Corp., I increased revenue by 30 percent One or two typographical errors on your cover letter are enough to discourage a hiring manager from calling you back.
through various cost-cutting initiatives. I feel I can use this experience to help your firm improve operational efficiencies, as well.”

Target those issues that are of the greatest importance to the company by conducting in-depth research. Visiting the firm’s website, scanning industry publications or performing a keyword search using the organization’s name can yield helpful information. For example, an article in the newspaper may focus on the company’s desire to expand operations in the near future. Armed with such specifics, you can tailor your cover letter to directly address the employer’s needs. Remember to limit what you say about your personal attributes and accomplishments. Include this information only to the extent that it will help the hiring manager understand how you can contribute to the firm or department.

End your cover letter strongly by detailing what you will do next. Rather than saying, “I hope to hear from you soon,” take a proactive approach: “I will contact you later this week to answer questions you may have about my resume. In the meantime, please feel free to reach me at (555) 555-5555.”

Proofread before You Send
Our company’s research has consistently shown that one or two typographical errors on your cover letter are enough to discourage a hiring manager from calling you back. Use your computer’s spell-check function and the help of friends and family to make sure your material is error-free before sending it.

If you’re e-mailing your cover letter – as is common nowadays – prepare the file in ASCII, or plain text, a computer code that is universally compatible. Your document won’t feature formatting enhancements, like underline and boldface, but it can still look professional. Align the text with the left margin, replace bullets with asterisks or dashes and then check its overall appearance by sending the document to yourself prior to submission.

Some job seekers spend hours assembling a resume, then quickly compile a cover letter. But by taking your time on this document, you’re more likely to distinguish yourself early in the hiring process. With the proper preparation, you can write a compelling cover letter that gets you one step closer to an interview.

Editor’s Note: Eric Peters is the Division Director for Accountemps in New Orleans. Accountemps specializes in the placement of accounting, finance and bookkeeping professionals. For additional information contact him at 504/529-9747, send an e-mail to eric.peters@accountemps.com, or visit www.accountemps.com.

Putting your resume online – successfully – is not as simple as cutting and pasting from a word document into an online submission page. For the best results, use the Web to your advantage by following the follwing four simple steps:

1. Include Keywords
Think of the words relevant to your industry and profession, and then include them in your resume. When an employer searches for a resume online, they most often use their own keywords to do the search. Give your resume the advantage – think about what potential employers will be looking for and then add those words to your own listing. You have “Certified Public Accountant” listed on your resume, but do you also have “CPA,” which is a simpler word that employers may use when searching for the same thing?

2. Consider Including More Job Functions
In addition to keywords, employers are often searching for candidates with specific experiences. For each past position you list on your resume, also include the tasks you completed. Items such as “Financial statement preparation” and “Management experience with accounting staff” can be effective ways to match with the searches employers are doing online. Be sure these functions are listed as nouns rather than verbs, as employers are more likely to search using nouns.

3. Simplify the Text
Before you just cut and paste from an existing document, remove all formatting such as boldface, tabs and bullets. These text formatting tools will often not appear correctly in an online form and can create a messy, hard-to-read resume. You’ll also want to remove unusual characters such as pound signs, dashes, etc. These symbols do not always convert appropriately in different programs and can appear as unreadable symbols.

4. Stay Away from Graphics
It’s often impossible to import graphics or graphic elements (such as page borders and tables) but don’t even take the chance. Remove all graphic elements from your resume before it goes online.

Editor’s Note: Robert G. Epstein, CPA, is the President and CEO and one of the orginal founders of CareerBank.com. He is a certified public accountant with more than 15 years of experience in the accounting profession and accounting/finance career placement industry. Robert writes articles covering the accounting industry, career development and staffing.

E-mail has generally been used as an informal means of communication. However, as it becomes increasingly popular in the job application process, students need to take time to think through the content of their e-mail and address the message that they might be sending to employers. An e-mail to an employer should never just say “see attached.” The receiver may not even open the attachment.

Although employers don’t always read an entire cover letter the first time, they do expect the writer to take time to include the necessary information in an appropriate way. The following rules should be used for e-mail when writing or responding to: potential employers, co-workers, colleagues, business members, and college staff or personnel. You will be taken seriously, and will often be given more credibility. Common mistakes are:
• using emoticons ( :o),
• being too informal,
• misspellings and poor grammar,
• no capitalization, and
• spelling words the way they sound.

Because e-mail has become a mainstream form of communication, students may not easily switch from casual and conversational e-mail to professional e-mail. I cautioned a student about practicing the use of professional writing after reading an e-mail he sent – it was full of emoticons and phonetic spellings. He used “ur” for “you’re or your;” he used “i” for “I”, and also used many other common e-mail exchanges. We discussed how his habit could greatly affect his ability to get a job, and worked extensively on what he might write in an e-mail to an employer. A few days later I received an e-mail from the student, asking me to submit his resume and e-mail note for a position that I had announced. Although we had discussed his usage, he still had two mistakes.

Rules of the Road
Professional e-mail is very different from casual e-mail or instant messenger. Remember: it’s easier to be ruled out than ruled in for a position. Here are some rules to consider when writing an e-mail in which you are job prospecting or applying for a job:
• Always introduce yourself the same way you would in a cover letter. Dear Mr./Ms. So and So, I am writing in regard to your posting on….for ABC position in financial services.
• Treat your e-mail as if you were writing a professional cover or thank- you letter on paper, but be brief.
• In the subject line, make it obvious why you are writing: “Application for ABC position.”
• Make sure you change the contact name and content according to the person/company to whom you are sending the message.• If you are responding to an e-mail, include the original message in the reply, so the receiver can put your e- mail into the correct context. Also, respond within two business days.
• Always spell words correctly! Don’t just use spell check. It won’t catch words that are spelled correctly, but are misused within the context of the sentence.
• Never use all capital letters. Employers may think that you are screaming. It is also difficult to read.
• Think about the message your e-mail address sends. Keep your address simple, and avoid unprofessional sounding names like “studmuffin” or “partygirl.”
• Read your message carefully before you click the send button. The tone of an e-mail can often be misinterpreted.
• Have someone else proofread your message before you send it. It may be easier to find errors if you print and review your e-mail.
• Scan your resume for viruses before you attach it to your e-mail.
• Name your document “your name, resume.” Employers receive hundreds of resumes via e-mail. If you follow- up by asking recruiters if they received your e-mail, they won’t have to look through 300 attachments called “resume.”
• If you are attaching your resume, ask the receiver if they would prefer that you send it in a different format, (i.e. Word Perfect, rich text format, or as a PDF).
• Do not assume that if an employer is informal that you should be.
• Don’t just rely on e-mail. E-mail can be lost. Follow-ups can often be done via the telephone or regular mail.

Editor’s Note: Reprinted from JobWeb (www.jobweb.com), with permission of the National Association of Colleges and Employers, copyright holder.

Helpful E-mail Examples
Your e-mail can be a brief introduction: Or your e-mail can be your cover letter:

To: xyzperson@abccompany.org
From: cap@psued.edu
Subject: Application for summer internship

Dear Ms. Clark,
I am writing in response to the ad posted on NACElink.com for a summer information systems/technology internship at ABCcompany (Job #123). Please accept my attached resume and letter as an application for this position. My skills and experience closely fit the posted job description.

To: xyzperson@abccompany.org
From: cap@psued.edu
Subject: Application for summer internship

My experience and personality closely fits the posted job description, and I am excited to apply.

As a management information systems student at Penn State, I have taken advantage of numerous research and design opportunities on campus and in class, which may be useful when working at ABCcompany. During my web design class, I volunteered to organize a group that would design and create a web site using Flash technology for a local company. The project was well received, and the organization is using some of our ideas. As a student worker in the School of Business, I also designed an Access data base to track student advising appointments and progress. The position required a high degree of confidentiality as well as a person with the ability to work on the project until it was completed.

In addition to maintaining a 3.0 GPA, and holding an on-campus job, I have also participated in various campus activities and leadership programs. By working on committees, I was able to demonstrate my leadership, teamwork, and time-management skills, which can be useful in a professional setting like ABCcompany.

I am eager to learn more about the internship position, and would appreciate the opportunity to speak with you in an interview about my qualifications. I am available to work from May 1 through August 2, 2003, and can be reached at [phone number].

There is a general consensus in the professional world that having an internship at some point during a college career is a smart move. But there’s more to it than just securing an opportunity with an organization in your field. In fact, internships are so common today – many academic programs require them to pass – that it takes some extra effort to make your on-the-job experience stand out post-graduation.

Step #1: Perform at 110% Every Day
As an intern, you may spend quite a few days making copies and doing Internet research. But in most cases there will be opportunities to have a hand in the bigger picture. No matter what a supervisor may assign you, do it with enthusiasm and top notch quality. Your performance on the most menial of tasks will be noted, and can earn you more responsibility down the road.

Step #2: Establish Goals
In your first few days on the job, layout short- and long-term goals to achieve by the end of your internship. Your supervisor may automatically do this with you, or you may have to ask someone to sit down with you and help. Either way, specific goals will help you measure your success in the internship and will also be a valuable tool post-internship to exhibit what you have accomplished.

Step #3: Trace Paths to Success
You will probably meet someone who has accomplished great things and has a career you find impressive. Sit down and chat with them to find out how they’ve arrived there. What positions did they hold earlier in their career? What areas of expertise helped them get where they are? Do they have specific suggestions for a young professional?

Step #4: Network Like Never Before
As your first foray into the professional world, this is prime time to start meeting people. Supervisors, co-workers-even other interns – can all be valuable contacts to have in the future. And the smart way to network is quality, not quantity. When you meet someone who interests you, make a note of who they are, where you met and schedule a time in the future to follow up and stay in touch. Networking – especially as a young professional – is not about asking other people for help. It’s about meeting people who can teach you about the business.

Step #5: Find a Mentor
If you meet someone you admire and they are willing to be mentor in some capacity for you, make the most of that opportunity. Some organizations automatically assign interns to a staff member during the term of their work. Either way, a mentor will be a valuable source of insight. In addition to on-site working issues, mentors can also give you good information about other professional resources. Are they a member of a professional organization? Ask if you can accompany them to a meeting to find out more. Membership in a professional organization can be an invaluable source of contacts, continuing education, even employment opportunities.

These tips can help you make the most of an internship. And whether you are entry-level or executive, they can easily be adjusted to use at any stage of employment. Start using them today and enjoy the results throughout your professional career.

Editor’s Note: Reprinted with permission from CareerBank.com, the leading online career center for the accounting, finance and banking community. CareerBank.com provides job posting and candidate search tools for employers in the accounting, finance and banking community. The site also provides resume posting, job search and career development resources for accounting, finance and banking professionals.

The Society of Louisiana CPAs offers scholarships in varying amounts every year to accounting students in Louisiana through the LCPA Education Foundation and through the LCPA chapters.

The LCPA Education Foundation was established to further the development of accounting education and the accounting profession. Amounts awarded are based on donations made to the Foundation. The Foundation also maintains an endowment to sustain the scholarship money for students in the future.

All LCPA scholarships, including the Kit Smith and Alex Postlethwaite scholarships, will be awarded each Spring. Look for applications in your university's Accounting Department.

The Society of Louisiana CPAs is divided into geographic chapters. Seven of the Society's nine chapters participate in the LCPA's scholarship program.

Baton Rouge Chapter awards up to $1000 per year to accounting and auditing majors attending in-town colleges and universities.

Central Louisiana Chapter awards three individual scholarships. A scholarship will be awarded to one student at each of the following: Louisiana College, Northwestern State University, and Louisiana State University at Alexandria.

Lafayette Chapter gives $1000 to a University of Southwestern Louisiana student each year.

Northeast Chapter grants scholarships between $250 and $1000 each to Northeast Louisiana University, Louisiana Tech and Grambling State. In addition, the chapter contributes to the local Beta Alpha Psi chapter.

Shreveport Chapter offers two or three scholarships each year of approximately $1,500 to local students.

South Central Chapter awards one $250 scholarship to a Nicholls State University student.

Qualifications for LCPA Scholarships
Students with Overall 2.5 Academic Average Now Qualify!

Application forms are available through the Society of Louisiana CPAs' office: 2400 Veterans Memorial Blvd., Suite 500, Kenner, LA 70062; telephone (504) 464-1040 or (800) 288-5272

Kit Smith Scholarship
In December 1996, the Board of Directors of the Louisiana CPAs Education Foundation accepted a generous donation of $100,000 to establish a scholarship fund in honor of the late Christopher "Kit" Smith Sr. An accounting graduate from Southeastern Louisiana University, and a Society of Louisiana CPAs member since 1975, Kit practiced as a CPA in Louisiana, Mississippi and Texas. After a long and prosperous accounting career, he lost his life to a battle with cancer.

To carry on Kit's strong belief in the entrepreneurial spirit, the Christopher "Kit" Smith Scholarship Fund was established to benefit students pursuing a career in accounting. The donation was used to create an endowment which will award annual scholarships in Kit's memory. The scholarships are awarded to students majoring in accounting, entering their third or fourth year at a certified Louisiana college or university.

Alex Postlethwaite Scholarship
He is described as a "true professional" and "the epitome of the Southern gentleman." Alexander Postlethwaite, the founder of Louisiana's largest independent accounting firm, Postlethwaite & Netterville, died on November 15, 2000.

Postlethwaite served as the LCPA Baton Rouge chapter president and in 1972-73 was named as the LCPA's President. Throughout his 50 years as an LCPA member, he was active in several Society committees. He is one of only nine members to receive the Society's Lifetime Membership Award.

William Potter, CPA, Managing Director of Postlethwaite & Netterville, presented the LCPA with a check in the amount of $10,000 to establish a scholarship in memory of Alex Postlethwaite.

The scholarship will be endowed for $10,000 and become part of the LCPA's Education Foundation.

2003 LCPA Education Foundation Recipients

AICPA Scholarships for Minority Accounting Students
The AICPA Scholarships for Minority Accounting Students provides competitive awards to outstanding full time undergraduate minority students at regionally accredited institutions to encourage their: selection of accounting as a major, entry into the profession and ultimately achieving the CPA designation. Full time graduate students (who are not CPAs) seeking a masters degree in accounting or taxation and students pursuing a masters in business administration, if their undergraduate degree is in accounting, are also eligible for this program.

Undergraduate students must have completed at least 30 semester hours or equivalent of college work, with at least six hours in accounting. All applicants must have an overall and accounting grade point average of at least 3.3. Awards are primarily based on merit (academic achievement). For purposes of this program, the AICPA defines minority students as those of Black, Native American, Pacific Island races, or of Hispanic ethnic origin. All applicants must be U.S. citizens.

The scholarships are awarded by the AICPA Minority Initiatives Committee and are funded by the AICPA Foundation from monies contributed by the AICPA, its members, public accounting firms, and others. The scholarships are awarded once each year (in July) for the following academic year. All application materials must be received by the AICPA by July 1 of each year.

The maximum award is $5,000 and over the past 20 years the AICPA has awarded more than $6 million in scholarships to minority students.