College of Business and Innovation Department of Accounting Amy A French MBA CPA CFE Lecturer Updated May 18 2011 Accounting Degrees Associate Degree in Accounting Technology 2 year Degree ID: 775965
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The University of ToledoCollege of Business and InnovationDepartment of AccountingAmy A. French, MBA, CPA, CFELecturer
Updated May 18, 2011
Slide2Accounting Degrees
Associate Degree in Accounting Technology
2 year Degree
Bachelor of Business Administration (BBA) in Accounting
4 year degree
Masters of Science in Accountancy (MSA)
30 semester hour program
Slide3University
of Toledo’s Gamma Epsilon Chapter chartered in 1966Founded in 1919 at the University of Illinois, Urbana.Premier professional business and financial information fraternityRecognizes academic excellence Provides interaction among students, faculty, and professionals
Beta Alpha Psi
Slide4Becoming a CPA
Most requirements are determined by the state/jurisdiction in which you hope to practice. In general, this is a summary of the steps to CPA licensure.
Slide5Becoming a CPA
Education requirements
A baccalaureate degree and 150 semester hours
30 semester hours in accounting
24 semester hours in business courses other than accounting
Exam Requirement
Apply to sit based on state requirements
Pass all 4 parts with a 75% or higher
Business, Audit, Regulation and Financial
Experience Requirement
1-2 years under a CPA
Slide6CPA Exam Pass Rates
According to the National Association of State Boards of Accountancy (NASBA)UT ranked in the top 10 nationally for pass rates in Audit
Slide7CPA Exam Pass Rates
Candidates withAdvanced degreesAll candidatesWith degrees Across the United States:38.21%32.93%Across Ohio:43.08%37.54%UT COBI students:58.62%40.91%
Comparing the percentage of college graduates who passed all four parts of the CPA exam reveals:1
1
According
to the recently released report (for 2009) from the National Association of State Boards of Accountancy (NASBA), The University of Toledo College of Business and Innovation (UT COBI) graduates passed the CPA exam at rates exceeding both state and national averages.
Slide8Where Accountants Work
Public Practice
Business/Industry
Government
Non-Profit Organizations
Colleges/Universities
Slide9Careers in Accounting
Audit
Assurance Services
(E-Commerce, risk assessment, IS assessment)
Environmental Accounting
Environmental compliance issues
Forensic Accounting
Searches for evidence of criminal conduct
Information Technology Services
International Accounting
Consulting Services
Personal Financial Planning
Tax advisory Service
Accounting Educators
Slide10The Hiring EnvironmentBy Robert Half
Two similar candidatesWhich additional skills most valuable31% Personality or people skills27% Software/technology20% Industry specific experience11% Certification or advanced degree1 – 4% Multilingual, international, other
http://www.roberthalffinance.com/FreeResources
Slide11Accounting is consistently one of the hottest jobs for new graduates, according to the National Association of Colleges and Employers.
Figure 1: Top Jobs for the Class of 2009Job FunctionStarting Salary OfferTeaching$35,496Management Trainee$41,353Financial/Treasury Analysis$52,043Consulting$56,472Sales$41,577Accounting (Public)$49,437Accounting (Private)$45,859Software Design & Development$63,798Registered Nursing$45,229Project Engineering$58,570
according to the National Association of Colleges and Employers.Figure 1: Top Jobs for the Class of 2009
http://www.aicpa.org/Becoming+a+CPA/CPA+Candidates+and+Students/Career+Paths.htm
Slide12Accounting Salariesby Robert half
Figure 2: Starting Accounting Salaries 2011Job FunctionStarting Salary OfferInternal Auditor – Lrg Company$44,500Internal Auditor – Med Company$42,500IT auditor – Large Company$51,750IT auditor – Medium Company$48,000General Accountant – Lrg Co.$38,500General Accountant – Med. Co.$36,500General Accountant – Sm Co.$34,000Cost Accountant – Lrg Company$40,500Cost Accountant – Med company$39,000Tax Accountant – Lrg. Co.$41,500Tax Accountant – Med. Co.$40,250Forensic Accountant – All sizes$61,250
http://www.roberthalffinance.com/FreeResources
Slide13Positions in DemandBy Robert Half International
“The CPA designation remains the most
in demand
credential for accounting and finance,
especially
when paired with big 4 experience
.”
Business Analyst
Maximize
computer systems to improve efficiencies and profitability
Financial Analyst
Evaluate
financial plans, forecasts, budgets and identifying ways to improve profitability
Controllers
Organizations
are adding controllers and assistant controllers to help oversee accounting operations.
Senior and Staff Accountants
Accounting Clerks
Billing/Collection staff
http://www.roberthalffinance.com/FreeResources
Slide14Recent salary ranges in accounting are: Big 4 FirmOverallTypical ExperienceEntry Level$55,000 $50,000 - 70,000First yearJunior Staff Accountant$46,000 - 63,000$40,000 - 80,0001-2 yearsSenior Staff Accountant$65,000-95,000$70,0003-5 yearsManager$65-140,000$85,0005-7 yearsSenior Manager$72-160,000$115,0007 years plusPartner$200,000 - 3,000,000$150,00010 years plus
Recent salary ranges in accounting are:
http://careers-in-accounting.com/acsal.htm
Slide15Questions?
Amy.French@utoledo.edu