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Inside
. . .
The Path to Opportunity
Fundamental Skills = Many
Possibilities
Stay on Course: Focusing
Your Studies for a Career As a CPA
Evaluating Your Ability
Applicability
Accounting Skills Quiz– Are
You a Next Generation Accountant?
Preparing for the Computerized
CPA Exam
Accounting Newbies Share
Perspectives on the Profession
Potential Earning Power
A Designation with Distinction
Become a Student Member
of the LCPA
Professionalism to the
Core
It Pays to Join a Professional
Association
Becoming a More Effective
Communicator
Writing a Compelling Cover
Letter
Getting Your Resume Ready
for the Web
A Quick Guide to Writing
Professional E-mail
Five Steps to Getting
More Out of an Internship
LCPA Offers $1000s in
Scholarships
LCPA Chapter Scholarships
Qualifications for LCPA
Scholarships
Kit Smith Scholarship
Alex Postlethwaite Scholarship
2004 LCPA Education Foundation
Recipients
AICPA Scholarships for
Minority Accounting Students
About the Society of Louisiana
Certified Public Accountants
Welcome to CareerWise
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.
Good luck and success in all your endeavors.
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The Path to
Opportunity
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.
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Stay
on Course
Focusing
Your Studies for a Career As a CPA
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.
top
Evaluating
Your Ability Applicability
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.
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Accounting
Skills Quiz
Are
You a Next Generation Accountant?
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.
Next Generation Accountant Quiz Answers
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!
Editor’s Note: Reprinted
from Robert Half Finance & Accounting.
top
Preparing
for the Computerized CPA Exam
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
Will I be required to take sections in any particular
order?
No.
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
top
Accounting
Newbies Share Perspectives on the Profession
New CPA and Aspiring Entrepreneur
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.
-------------------------------------------------------
LSU Academic All-American Ready to Tackle Auditing
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.
--------------------------------------------------------
Successful at Balancing Work and Life
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.
-------------------------------------------------------
Using Networking to Her Benefit
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.
-------------------------------------------------------
LCPA Scholarship Recipient and Trusted Advisor
Jonathan T. Batarseh, CPA
Tax Manager
KPMG, LLP
Baton Rouge, LA
Passed the CPA Exam in November 1998
Earned CPA certification in January 1999
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.
---------------------------------------------------------
Serving Up a Versitile Business Career
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.
top
Potential
Earning Power
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.)
PUBLIC & PRIVATE ACCOUNTING
| Employer |
Jr. Level (0 – 3 yrs.) |
Sr. Level (4 – 6 yrs.) |
Public Accounting
(large firm) |
$35,750-$51,250 |
$48,750-$62,250 |
Public Accounting
(med. firm) |
$31,750-$45,500 |
$44,000-$56,500 |
Public Accounting
(small firm) |
$29,500-$42,500 |
$41,000-$54,000 |
Corporate Accounting
(large co.) |
$31,750-$49,250 |
$48,000-$62,750 |
Corporate Accounting
(med. co.) |
$30,750-$44,500 |
$44,000-$55,250 |
Corporate Accounting
(small co.) |
$28,500-$42,000 |
$40,500-$51,500 |
UPPER-LEVEL CORPORATE ACCOUNTING
Here are some examples of upper-level salaries for Managers
in corporate accounting:
| Position |
Large Co. |
Small to Med. Co. |
| Chief Financial Officer |
$170,750-$346,750 |
$84,250-$153,500 |
| Corporate Controller |
$95,500-$145,750 |
$61,250-$107,250 |
| Tax Manager |
$77,250-$114,000 |
$64,000-$85,000 |
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.
A Designation
with Distinction
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.
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Become a
Student Member of the LCPA
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 Lo | 