A Career In Public Accounting As A Business Career

964 Words2 Pages
bulb-icon

Recommended: Career opportunities of accountants

During my college years, the hardest choice I had to make was deciding on a major and choosing a career path. When I came to OCC I knew I loved business but I was also curious about accounting. I found that the business degree with a concentration in accounting was the program for me. It’s the one degree that gives me the strong foundation to get me into the business world and having the accounting minor gives me the tools I need to succeed. The reason accounting may be one of the best degrees to a successful business career is because accounting has always been considered as the language of business. Accounting is defined as the information system that measures business activities, processes information into reports, and communicates the results …show more content…

Public accounting involves services such as auditing and tax-preparation. There are many ways CPA’s’ help businesses and individuals. CPAs help individuals and companies with financial planning, investments, taxes, mergers and acquisitions. Individuals, businesses, financial institutions, nonprofit organizations, and government agencies need CPAs to offer objective advice and assistance in both financial and strategic areas. CPA’s have broad range of duties to choose from, like environmental accounting to forensic accounting. Although opportunities are plentiful and varied for top-notch accounting graduates, many new entrants to the profession consider an entry-level job in public accounting to be an essential first stop on their career path. The reason is simple: a public accounting background is a huge resume-builder that confers instant credibility. Employers often prefer to hire candidates who have public accounting experience and have earned the always-in-demand CPA …show more content…

To become a CPA in Michigan, first you need to get your education. The state requires you to have at least a bachelors degree and your school must be accredited by one of the six regional accreditation agencies Also, you must have 150 total semester hours of college credit and a bachelor’s degree with a concentration in accounting. After you accomplish all the necessary educational requirements. If you have earned a bachelor’s degree and completed 120 of the 150 total semester hours of credit, or if you will fulfill these requirements within 30 days of taking the exam, you are eligible to sit for the Uniform CPA Exam. The total cost to take the CPA exam in Michigan is $876.08 including an initial one-time $147 application fee. Looking at the national pass rates it appears that a little under half of candidates who sit for the exam actually pass. In 2015, 48% passing Auditing and Attestation, and 49% of applicants passing the regulation portion. The next step along the path to becoming a CPA in Michigan is to satisfy the state’s experience requirement. Michigan requires that you earn one year (2000 hours) of qualifying experience. Your experience must include at least one of the following competency/skill areas in order to qualify under Michigan Board of Accountancy rules, such as auditing financial statements, tax research, performing internal audits

Show More
Related

  • MMPA Personal Statement

    556 Words  | 2 Pages

    Majored in accounting during my undergraduate at Michigan State University, I am determined to be an audit professional at a public accounting firm in Toronto upon graduation from MMPA program. To better qualify myself and equip myself with advanced accounting knowledge, I am dedicated to obtaining the CPA designation as well. In the next three to five years, I see myself being promoted from an associate to a manager who will lead a team and direct a project. Working as a manager in a public accounting firm will definitely sharpen my leadership ability and problem-solving skills, which are prerequisites for my long-term career objective. Ten years down the road, I want to work in the finance department of a public company as CFO or controller,

    Read More

  • AICPA Code Of Professional Conduct Analysis

    1351 Words  | 3 Pages

    The non-profit professional organization, American Institute of Certified Public Accountants (AICPA), was founded in the United States of America. The organization was founded in 1887, to help ensure that the accounting profession would gain the same respect as the other prestigious occupations had received from the public. The accounting profession, similar to the medical, legal, and engineering professions, is characterized by “…rigorous educational requirements [150 credit hours], high professional standards, a strict code of professional ethics, licensing status [Uniform CPA Examination], and a commitment to serving the public interest” (AICPA, 2016). These five characteristics

    Read More

  • The Differences Of Public Accounting Vs. Private Accounting

    1932 Words  | 4 Pages

    Why should you have an accounting degree in the first place? You should have an accounting degree because there are always jobs in this field and the chances you will actually get a job are really high in either public or private accounting firms. People say, having an accounting degree can have 360 different job opportunities. You can work anywhere because everyone needs an accountants from in businesses, for the Government, or even by yourself the options are unlimited.

    Read More

  • Public Versus Private Accounting

    999 Words  | 2 Pages

    The stereotypical image correlated to the account mirrors that of a public accountant. An individual working as a public accountant can expect to work as an independent third party to a multitude of companies. As this third party it is their duty to oversee financial transactions to ensure that the statements of not only the company, but also its’ supporting companies, correctly correspond and match up to the position, results and cash-flow of the clientele. This general quota outlining a public accountants job description is not the same for a private accountant. The main difference between a public and private accountant is that unlike the public and its handle on a multitude of accounts, a private accountant specializes with a certain company or field. With this specialization, a private accountant tackles setting up a system that records the transactions within the business. The recordation of the transactions is then generated into statem...

    Read More

  • Personal Career Exploration

    1698 Words  | 4 Pages

    Accounting is basically a service activity. Its purpose is to provide quantitative information that principally used by the managers, investors, tax authorities, and other decision makers to make the financial decisions within companies, organizations, and public agencies. Accounting is also widely known as the “language of business.” An accountant measures, communicates, and interprets financial activities. They prepare financial statements or reports for individuals, businesses, government agencies, or other non-profit organizations. They use the accounting systems to categorize the expenses and income to the typical groups. They also keep tract of the money received or paid out to see if the transactions are accurate and complete. Accountants are familiar with the computer operation. They use the computer...

    Read More

  • Accounting Career Goals

    1546 Words  | 4 Pages

    Each person has a different idea of what it means to be successful. After talking to my family and some friends, I know that I have several strengths and weaknesses. I know that I will face some opportunities and threats. Also, I know that I will have competitors. In this competitive business world, understanding what is truly valuable to me is a major step towards achieving my goal. My strengths are my languages, technology skills, education, work ethic and the ability to follow directions. My weaknesses are communication skill, lack of U.S culture and working experience. Increasing job demand, globalization and accountant role expanding are three major opportunities in accounting field. Information technology, uncertainty of recession and starting salary are 3 major threats to my financial success. I will face all the accounting major competitors from the Midwest.

    Read More

  • My Career Goals In Accounting

    1048 Words  | 3 Pages

    My second goal is to become a Certified Public Accountant (CPA). I plan to take the CPA exam immediately after my completion of Master’s program. The CPA certificate will not only to show my competence in independent work but also promote my opportunities to enter a managerial position. To realize my long-term goal of becoming a partner of Ernst & Young, I must be a role model who is familiar with advanced-level knowledge and certification exam.

    Read More

  • The Difference Between An Accounting Professional And Chartered Professional Accountants

    1098 Words  | 3 Pages

    In 1887, the American Association of Public Accountants was formed with the first standardized tests coming out about a decade later (Zeff, 2003, pg. 2). In 1896, New York State passed the first law for Certified Public Accountants (CPA), which Zeff (2003) “marked the beginning of an accredited profession of accounting in the United States” (pg 2).  In Canada, the first association began in 1902 with the Dominion Association of Chartered Accountants (Buckstein, part 1 pg 2).  Buckstein quoted John L. Carey, the author of a paper outlining the history of the accounting profession worldwide stated “the reason for creating a full-fledged professional organization was to distinguish skilled accountants of integrity from self-styled accountants whose competence had not been demonstrated” (pg. 2) As Zeff (2003) stated with the passage of the Securities Act of 1933 and the Securities Exchange Act of 1934 all publicly traded companies were now required to have their financials audited by independent CPA’s (pg. 4). This showcased the importance of having skilled and knowledgeable individuals produce verifiable and accurate information that the public (in all its forms) could rely upon. The combination of having professional accounting bodies and government legislations have attempted to establish

    Read More

  • Why Choose A Career In Accounting Essay

    1019 Words  | 3 Pages

    I feel that this major is of a great interest to me because its diversity. Both career paths have advantages and disadvantages. Public accountants have greater variety of exposure in working with different clients and industries; also, advancement opportunities may become sooner. On the other hand, private accountants can reach management levels without a CPA license and advancement opportunities may not come as quickly. This overview presented me a better idea of where a degree in accounting could take me. Knowing that I have a variety of opportunities and room for growth give me the confidence I need to Pursuing the degree would definitely open up the doors for me. Similarly, knowing that I have a detail oriented personality is a perfect fit for the world of accounting; I feel confident that my analytical, math and communication skills will help me to become a trustworthy and reliable accountant who help people to become more efficient with their

    Read More

  • A Career as a Certified Public Accountant

    1105 Words  | 3 Pages

    In order to do any job there are some requirements and qualifications that you must meet. In the CPA world there is no specific gender that is required, but research shows that the majority are females. Researchers...

    Read More

  • Accounting Education: The Future Of The Accounting Future

    1883 Words  | 4 Pages

    What does the accountant of the future need to be successful? A sturdy education that while is based on traditional accounting practices, also prepares future accountants for the plethora of changes happening in the accounting universe. Frequently, most of the institutions responsible for educating professionals fail to evolve as rapidly as the professional practice itself (Bedford et al. 4). In every way, accounting is expanding and in order for the future to have competent accountants, accounting education must expand as well. Major changes occurring in the world of accounting include the expansion of services and products, changes in competition, an increase in specialization, and an increase in and an advancement of technology. It is up to academic institutions to find proactive ways in which to prepare students for such changes. Accounting education of the future will require more breadth to cover the inevitable expansion of services and products, increased knowledge of economics, marketing, management and information systems to increase competitive advantage, a balanced course load that provides a general accounting knowledge as well as increased knowledge of a specialization, and also a greater, proactive focus on the use of continuously advancing accounting technologies (Bedford et al. 8). Also in play is the chance of change in accounting standards, the move from US GAAP to IFRS. While there are no certainties surrounding the threat of such change, students in the U.S. should acquire at least a general, basic feel for the practices used in regards to IFRS. The future health of the accounting profession depends, to a great extent, on the health of our students (Gormon and Hargadon 4). Reorganization of curriculums would surely be difficult and assumedly time-consuming, but nevertheless, completely

    Read More

  • Accounting Reflection

    707 Words  | 2 Pages

    From the first tutorial, ‘Current Conceptions of Accounting’, we had already change our prediction on accounting professional. At the beginning, we through that accounting professional would be more formal and format. From what we have learnt from the first two semesters of accounting, we need to do everything under the current structure, standards, and regulations. Accounting is a tool and skill that help us to achieve our career successful. However, the first tutorial activity, which require us to bring up our view of ‘accounting, accountability, or an accountant’ from a lifestyle magazine. This activity make us found that accounting could be just next to us, not just in the career field, but also could find it anywhere in our life. This activity has open up our mind of accounting

    Read More

  • Essay For Accounting And Finance

    548 Words  | 2 Pages

    My interest in Accounting and Finance stems from wanting to understand how governments and businesses make their vital decisions to be profitable. Studying this degree, will allow me to gain an understanding of financial accounting, management accounting and taxation providing me with skills to analyse data and develop my decision making. Additionally being able to incorporate different aspects of business alongside the core modules; will give me more knowledge of the world of accounting and finance.

    Read More

  • Pursuing a Career as an Accountant

    1072 Words  | 3 Pages

    Accountants are becoming a needed job in the business industry and play a very important role in the success of many businesses. This job usually requires at least a bachelor’s degree in accounting and sometimes even a CPA (Certified Public Accountant). There are many other things that are needed to be considered before choosing this career. The job environment, education, skills, and benefits are just some of the many things that need to be thought through before considering this career.

    Read More

  • The Importance Of Accounting In Our Modern Society

    2459 Words  | 5 Pages

    Accounting is one of the fastest growing fields in the United States It expands each time a new store, a factory, a filling station, or a school goes up, whether in a large city or a small town. In today's society, the demand for good accountants for exceeds the supply. As our country has expanded, business and industry have become more and more complex, so control here is very important. And control depends on a great deal of the bookkeepers and accountants who can analyze figues and advise management on what should be done. They are using more scientific ways changing money, figuring change, and collecting sales taxes. Moreover, department stores and other companies now have plants and offices widely scattered throughout the country. A new set of bookkeepers and accountants, is needed at each branch. I know there are many managements supervisory, and junior or senior executive positions are bing filled by people who started as accountants because accountants have the knowledge of methods and finance and comprehension of the fundamentals of business, and acc...

    Read More

More about A Career In Public Accounting As A Business Career

Open Document