Select Career Opportunities Orientation Program Indiana University - PowerPoint PPT Presentation

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Select Career Opportunities Orientation Program Indiana University

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  1. Select Career Opportunities Orientation Program Indiana University

  2. Careers in Public Accounting • Firm choice • Career path

  3. Firm choice • Big "4" Firms (KPMG, PWC, E&Y, D&T) • Middle tier firms (GT, BDO, Crowe, McGladrey) • Local accounting firms

  4. Big "4" Firms • Large, national and multi-national firms • Primary focus is full service to the Fortune 1000, but will also have a "middle market" or entrepreneurial division • Several opportunities for career paths outside the general audit and tax path • Tax is divided between compliance and consulting • Opportunity to work overseas

  5. Middle tier firms • Vary in size • Some are national and multi-national, some are regional in nature • Primary focus is full-service to middle market companies both public and private • Tax professionals will do both compliance and consulting • Opportunities exist to work outside the typical audit and tax areas, but not to the extent as at the Big 4 • Opportunity to work overseas in some cases

  6. Local accounting firms • Small one/two office firms • Primary focus is serving the accounting and tax needs of the local small business • Careers in the smaller firms will entail working in both tax and audit/financial accounting

  7. The Career Path in Public Accounting Assurance and Tax Professionals • Associate • Senior Associate • Manager • Senior Manager • Partner

  8. Associate • One to two years. • Responsible for tax return preparation and/or low risk areas of the audit assignment. • Assignments can include anything, including making copies • In the second year, responsibilities will increase and in some cases will be responsible for an engagement

  9. Senior Associate • After two years • Senior Associate, Senior, In-charge • Responsible for planning, executing and wrapping up engagements • Main client contact and the driver of the audit/tax return process • Completion of job including financial statements • Supervise, train, and review the work of associates

  10. Senior Associate (continued) • Research and summarize technically complex issues • Assist manager with day to day client relations • Knows the most about the job/project

  11. Manager • Usually after 5 years • Three basic roles: • Core Business Role • Manage multiple engagements • Detail review of work papers • Day to day client relations • Train and supervise senior and staff • Research and conclude on technical issues and questions from clients

  12. Manager (continued) • Human Resources Role • Recruiting • Advise, Mentor, Coach staff • Teach staff through continuing professional education classes

  13. Manager (continued) • Sales and Marketing Role • Network with referral sources: attorney’s, bankers • Participate in proposal writing and presenting • Generate leads for new business • Belong to professional organizations: AICPA, State Society’s

  14. Senior Manager • 8 to 10 years • Same responsibilities as manager except time split is different • More time is spent in Sales and Marketing role than any other • Senior Managers may have more administrative duties associated with how the department works as a team

  15. Partner • 12 to 15 years • Final review of audit or tax return • Sign-off of audit report or tax return • Maintain high-level of client relations: attend Board Meetings, Audit Committee meetings • Help client with highly complex issues: strategic planning, mergers, acquisitions

  16. Partner (continued) • Generate client leads • Prepare proposals and lead proposal meetings • Speak at professional organizational meetings • Teach continuing professional education seminars