This blog provides news, advice, and tips to students and professionals interested in the profession of accounting. It is written by Michael P. Griffin, Accounting Professor, Charlton College of Business
Here is a recent message that I received from the Massachusetts Society of CPAs
Massachusetts Society of CPAs.
Accounting Career Fair/Graduate School Expo
Tuesday, October 16, 2012
Sheraton Hotel (Copley Place), Constitution Ballroom - 2nd Floor
2-3 p.m. Early Entry for MSCPA Student Members
3-5 p.m. Students seeking internships, entry-level positions; experienced professionals-in-transition are also welcome.
Career fair registrants must have legal authorization to permanently work in the U.S. as participating employers will not be able to serve as sponsors.
A complete listing of the participating public accounting firms, companies and governmental agencies will be available online by September 30.
To make sure your students are prepared for the event we are hosting the
MSCPA Career Fair Prep on October 2. MSCPA student members are invited to meet with HR reps and accounting professionals for a pre-career fair workshop to build their confidence to meet with firm representatives. Preference will be given to MSCPA student members who are registered for the October 16 Career Fair who have not attended a prior Career Fair Prep. The Career Fair Prep will be held at the MSCPA's 9th floor boardroom, 105 Chauncy St, Boston MA. Register online. Learn more about student membership here.
To assist in promoting the event please feel free to use the Career Fair Postcard.
If you have any questions, please do not hesitate to contact us.
Thanks,
Barbara & Chris
Barbara Iannoni
biannoni@MSCPAonline.org
617.303.2415
Academic and Career Development Specialist
Massachusetts Society of CPAs, Inc.
Christopher O'Day
coday@mscpaonline.org
617.303.2403
Academic and Career Development Specialist
Massachusetts Society of CPAs, Inc.
NEW YORK (August 20, 2012) - Registration opens today for the 2012 AICPA Accounting Competition*. This year’s competition challenges students to solve some of the most pressing financial issues facing the United States while considering what it takes to get politicians elected. Students competing in the first round have until October 1 to present their best ideas on Social Security, the national deficit, and taxes in 1,000 words or less. Click here for more details.
Recently, a recruiter for a CPA firm gave me some great advice regarding the preparation that students should perform prior to an interview. I think that although this advice is from a CPA firm, it is really applicable to just about any major out there looking for a job.
Q: What as a recruiter do you like to see on resumes of propsoective interns. I am telling freshman to start doing things from day 1 that can beef up that resume including part-time jobs (even waiting on tables, landscaping etc. because it shows you can work), student clubs (Accounting Association), internships (multiple ones if possible), what else would you like to see?
(Experienced Recruiter) Ans: From my standpoint, I think you have hit all of the right points. I like to see what they are doing outside of the classroom, whether on campus activities or part time jobs; volunteer work looks good; with their part time jobs, if they can demonstrate team player skills as well as leadership roles (i.e. shift supervisor, etc.) or individual leadership skills which can be evidenced in sports, work or civic activities as an opportunity to discuss their ability handle situations and decision making that also looks good. Also, I like to see their overall GPA as well as a very strong GPA in accounting. Additional plusses include travel, a foreign language or other experiences that speak to their worldliness.
Beyond that, it comes down to how well they present themselves in person. We’ve had people come in who were not dressed for success, or did not otherwise articulate very well during the discussion with the interviewer. The later can be chalked up to nerves, but there is little excuse for not dressing properly for an interview. They need to think of how one should dress or practice interviewing skills. The resume may help get them in the door; interview closes the deal.
Finally, I like to see a candidate do real research on our firm. Not just check the website and tell me with have 4 offices and 160 employees. But read and be able to ask questions during the interview.
_________________________
Comment from Michael P. Griffin, Internship Director at UMASS Dartmouth Charlton College of Business.
Students - the key is to be prepared. I suggest that you start planning as soon as possible what your resume will look like when you apply for quality internships and ultimately when you apply for permanent positions. Do as much research as possible on the company. Visit their web site, read articles, do web searches, and take notes that you can study before the interview. Prepare, prepare, prepare!
Here is a thread of an email exchanged between an student and me
earlier today. I thought some students, especially accounting majors,
might find this instructive.
.......................
Dear
Professor Griffin,
I am an upcoming graduate(January 2013) in the Charlton College
of Business. I only need two courses to graduate so I will be a part
time student for the Fall 2012 semester. On my job search most
corporate employers and employment agencies require degree. I believe
that is because a so many applicants on file already have degrees. I am
reaching out for some advice on internships. I seek internship as an
alternative to employment, plus, I'm only interested in becoming a CPA.
I have a compiled of CPA 50 firms. Before I call the CPA firms
and getting the "No" from
the secretary, I wanted some tips. What did you market most for UMassD
students? What lessons did you learn from the firms that said no? What
pitfalls should I avoid when seeking the internship opportunity? Have
you ever convinced a firm to hire interns when they were not seeking
interns? Finally why don't some firms hire interns or the reason they
give?
Dear Student:
Your questions are excellent. Unfortunately, I am not sure I
have the
answers. If you want to work for a CPA firm, you are doing the right
thing in compiling a list and going after those "leads". You should
try other approaches too. I have attached a booklet that I updated
this summer on how to land an excellent internship and their may be
some ideas in there. Networking is big and don't ignore that. I have
never convince a company to hire an intern unless they were already
leaning that way. But the good news is that many enlighten firms want
interns. The spring is better than the fall because of tax season and
more work but I would push for the fall too. Sometimes firms
(especially the smaller ones) don't want interns because they either
can't be bothered to guide them or they don't have enough work to keep
them busy. The accounting profession as a whole believes in
internships and many firms use internships as their feeder system -
like the sports analogy of minor leagues.
If you are still in high school, there are a few things you
can do to prepare for a career in accounting. The first thing you should do is
to become familiar with the types of courses you will need to take as a college
student majoring in accounting (or earning a concentration in accounting.)
Since accounting is a profession (like law or nursing),
there are established college accounting curriculums. Many of these curriculums
match up with the requirements for the state CPA requirements.
Take a look at the requirements to sit for the CPA exam in
your particular state. In my state, the Commonwealth of Massachusetts, to be
eligible to sit for the exam, you must:
1. Be at least 18 years old
2. Have completed 120
semester hours (or 180 quarter hours) of credits from a nationally or
regionally accredited college or university - Associate degree or Community
College courses will be accepted only if transferred into a four-year
bachelor's degree program.
3. Have 21 accounting credits including coverage in
Financial accounting
Audit
Management accounting
Taxation
Introductory or elementary courses can be counted toward the
21 credits.
4. Have 9 business credits including coverage in
Business law
Finance
Information Systems
5. Have completed all requirements for the conferral of a
bachelor's degree.
Keep in mind that colleges and universities typically also
require a common body of business knowledge that all business students must
master (including accounting majors). Courses such as marketing, management,
statistics, business communications, and economics and typically required along
with general education courses (writing, social sciences, humanities, and
natural and applied sciences).
Each state has similar if not slightly different
requirements for "sitting for the CPA exam"and if you are interested
in becoming a CPA, I suggest you Google your own state's education requirements
for the CPA exam.
Keep mind that quality colleges and universities that offer
accounting as a major or a concentration, have faculty who take the time to
assure that their curriculum matches the education requirements of their
state's regulator of CPA licensing. So unless the college or university that
you will ultimately attend is a "fly-by-night" school, their
accounting curriculum should satisfy the basic education requirements to
"sit" for the CPA exam. Also
keep in mind that most states will not award the CPA until the student has
earned 150 credits. The 150 credit hour
rule is satisfied by most students by pursuing a graduate degree (i.e., MBA).
If you are a high school student who wants to pursue an
accounting career, it would be wise to review the required courses that
colleges and universities require to earn either a major or a concentration in
accounting and see if you can get a jump start on any of the courses while in
high school. Although there is no
Advanced Placement (AP) exam yet for high school accounting courses, a high
school accounting course will at least give you an introduction to accounting. In
addition, some high schools allow their students to take college courses,
perhaps at a local community college or university, while still in high school.
If you have that opportunity, here are a
few suggestions:
Most business school programs require macro and micro
economics. Such courses are usually 100 or 200 level without any prerequisites.
Either course would be helpful to an aspiring accounting major. Micro or Macro
economics is also offered as AP courses at many high schools.
Financial Accounting (also called Principles of Accounting
I) would also be a helpful course. It covers the fundamentals of bookkeeping
(debits, credits), accounting systems, and financial statements. Managerial
accounting (sometimes called Principles of Accounting II), which covers
principles of cost accounting, budgeting, and special reporting for managers
and staff, is also offered as a freshman or sophomore level course at many
community colleges and sometimes at the high school level. A course in financial
or managerial accounting before starting an accounting major or concentration
would be a good start.
As a high school student interested in accounting, you
should also be aware of the kinds of knowledge, skills, and abilities (KSAs)
needed by successful accountants. Are you interested in these kinds of KSAs?
Would you be happy learning this kind of knowledge? Would you find it
interesting? Do you have some basic skills that are congruent with the skills
needed of this profession? Are you confident that you will develop and enjoy
employing the abilities necessary to do accounting work for a living?
Accounting requires a very special attention to detail. In
the early days of learning accounting, you will need to memorize the rules of
debits and credits (double-entry) accounting. You will need to work with very
detailed records called ledgers. A ledger is a collection of accounts and
account balances must be accurate. Are you good at keeping a lot of details
straight? Are you neat and organized in the way you work? Can you substantiate,
in great detail, the manner in which you derive an answer in your math classes?
The basic accounting system that you will first learn about
is a precise system of interrelated records and special rules that you must
follow to establish accurate records. An audit trail, which is audit trail
gives a step by step documented history of a transaction. It enables an auditor
ore examiner (or in the classroom - a professor)to trace the financial data
from general ledger to the source document (invoice, receipt, voucher, etc.).
The presence of a reliable and easy to follow audit trail is
an indicator of good internal controls instituted by a firm, and forms the
basis of objectivity - a very important characteristic of good information. The
accountant's job - whether it is in preparing financial statements, doing a tax
return, or preparing a personal financial plan for a client, is to produce good
information - information upon which many important decisions might be made. If
you have the ability to master details, organize information, and substantiate
your final numbers, you may have what it takes to be a good accountant,
auditor, tax advisor, or personal financial planner - all career paths for
which an accounting degree is great training.
Accounting requires solid math skills. You don't need to be
a math wizard or genius but you must be good with fundamental math. Most
accounting math is basic - addition, subtraction, multiplication, and division.
You will also have to master debit and credit math which is just a set of rules
that guide how math (really just addition and subtraction) is done in the accounts
of san organization.
More than ever, accounting requires analytical skills -
especially in the upper level (junior, senior, and graduate) courses. The
ability to analyze annual reports, internal reports, and financial statements
and to arrive at significant conclusions is key to being successful in the
study of accounting and beyond. In addition to performing the analysis of
financial information, you should be able to communicate your conclusions in
clear and concise communications that can be understood by financial people and
nonfinancial people.
Integrity is also important in the profession of accounting.
For each specialized area of accounting there are ethical standards to which
you must adhere. If your ethical compass is pointed in the right direction and
you are concerned about always doing the right thing, you may make a great
accountant.
It is true that attention to detail is very important for
accountants. This is helpful when preparing accurate and timely reports.
Accountants must also keep up to date with rules and regulations such as
developments in the area of Generally Accepted Accounting Principles (called
GAAP) and Internal Revenue Service (IRS) regulations. In addition, since technology (software and hardware)
play a critical role in today's accounting world, you need to be technology
savvy.
Learning the basics of software such as MS Word, PowerPoint,
and Excel will serve you well to start but eventually you must be an advanced
user of many types of software. For example, I tell my accounting students that
knowing the basics of Excel is good but they need to be a power user of Excel,
the electronic spreadsheet that has become the standard in business. They need
to know how to use all the financial functions, be able to use Pivot Tables,
write basic macros, and be really good with charts.
Students who want to work in the area of tax must eventually
master income tax return preparation and planning software and know how to
research tax issues with electronic services. At our business college (Charlton
College of Business) some of our juniors and seniors intern at CPA firms and
they learn how to use tax return preparation software and do research using web
tools provided by the firms. The point is you must become comfortable with technology because the bag of tricks in accounting today has so many technology tools.
If you are a high school student thinking about a career in accounting and have questions, feel free to email Professor Griffin, Charlton College of Business at the University of Massachusetts Dartmouth: mgriffin@umassd.edu
