1 / 13

Accounting Careers

Accounting Careers. September 22, 2005 Indiana University BKD, LLP. Overview. I. Public vs. Private Accounting II. Regional vs. Big Four Accounting Firms What Recruiters Look For In College Recruiting Candidates Typical First Year Responsibilities. Public vs. Private Accounting.

olga-mathews
Download Presentation

Accounting Careers

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Accounting Careers September 22, 2005 Indiana University BKD, LLP

  2. Overview I. Public vs. Private Accounting II. Regional vs. Big Four Accounting Firms • What Recruiters Look For In College Recruiting Candidates • Typical First Year Responsibilities

  3. Public vs. Private Accounting • Public Accountants –Perform a broad range of accounting, audit, tax, and consulting activities for corporations, governments, nonprofit organizations, and individuals. • Private Accountants –Record and analyze the financial information of the companies for which they work. • First Job Statistics: (CPA Journal) • 55.8% Public Accounting • 30.1% Private Industry • 8.2% Governmental and Not-for-Profit Accounting • 5.9% Other Accounting

  4. Public vs. Private Accounting • Public Accounting • Variety in: • Type of work • Assurance • Tax • Consulting • People you interact with • External • Internal • Ease of moving from public accounting to private accounting • Occupational mobility

  5. Partner Audit & Tax Consulting Senior Manager Senior Managing Consultant Manager Managing Consultant Supervisor Supervising Consultant Senior Senior Consultant Staff Staff Consultant Public Accounting Career Track

  6. Public vs. Private Accounting • Private Accounting • Financial Reporting • Corporate Finance • Treasurer • CFO • Controller • Managerial Reporting • Cost Accounting • Internal Audit • Business Development

  7. Regional vs. Big Four Accounting Firms • Regional Accounting Firms • Client Base: • 95% medium to small • 5% large (most SEC) • Many jobs that are shorter in duration • Wide variety in types of clients • Travel is limited, but available if desired • Making Partner • Average length of time is 12 years • Other criteria

  8. Regional vs. Big Four Accounting Firms • Big Four Accounting Firms • Client Base: • 85% large corporations (most SEC) • 15% medium to small • Larger clients with longer engagement durations • Less variety in types of clients • Significant travel • Making Partner • Average length of time is 13 years • Upper level partner’s compensation (Equity and Non-Equity) • Other criteria

  9. Regional vs. Big Four Accounting Firms Current Issues: Sarbanes-Oxley • Big Four: • Focus centering on large SEC Clients • Divesting consulting services to middle market • Regional Firms • Gaining client relationships in middle market • Providing resources to meet SOX 404 standards

  10. Public Accounting Report’s Top 10 for 2005(Hudson Sawyer Marketing)

  11. What Accounting Recruiters Look For In Candidates • Communication skills • Verbal • Non-verbal • Enthusiasm • Creativity • Problem solving ability • Teamwork skills • Highly motivated • Excited about the firm

  12. Typical First Year Responsibilities • Audit • Observe inventory test counts • Perform tests of internal controls • Draft financial statements and auditor’s reports • Develop recommendations for improving client productivity • In-charge some smaller engagements • Tax • Prepare individual, corporate, partnership, estate, trust, and tax-exempt entity returns • Draft responses to federal, state, and city notices from taxing authorities • Research tax issues • Prepare tax projections under multiple income and deduction scenarios

  13. Any Questions?

More Related