Microsoft Word Certified Public Accountants

1. FINAL PROJECT
Business Professionals
Certified Public Accountants
Ms. Shamari D.M. Mitchell
West Los Angeles College
December 18th, 2011

2. Certified Public Accountants
Independent Accountants who serve
organizations and individuals on a fee bases.
What job or occupation did you choose?
To become a Certified Public Accountant (CPA) is to accept a responsibility to service
society as a business professional. In becoming a future business professional as a
Public Accountant, servicing small, medium, and large businesses adding support to
their financial activities, including preparation of financial statements, tax returns,
independent auditing of financial records and accounting methods.The CPA
professionals are in high demand to provide financial assurances to businesses and its
consumers.
Why does this career appeal to you?
Accountant professionals are highly trained and respected business professionals.
Governed by State and Federal organizations, they performed their responsibilities by
code of ethics and federal standards listed in the General Accounting Acceptance
Principals (GAAP) and Financial AccountingStandard Boards (FASD).Accounting is now
a $40-plus billion industry, with more than 1.2 million accountants in the United States
that are classified as public or private accountants.
What are the significant points of the job or occupation?
Accounting is more than numbers, as Accountants are more than individuals with one
set of skills to financially reports occurrences. Accountants are now incorporating
consultant services and project management decision making to all qualified
businesses. The education completed for Accountants, are not only accounting
subjects but, business related subjects and training. These business courses include
Management, Law, Computer Science, Economics, Finance, and Marketing.
Shamari Mitchell – Final Project Page 2

3. What are the working conditions?
The environment in which Accountants work for businesses is secured. The
professional often are separated from normal work environments, due to the nature of
the private records they must view and use to determine the company financial health to
operate. These records are not considered open public records but, sensitive in nature
to stakeholders.
What type training is required?
Despite fulfilling the educational requirements, the CPA is required to have work
experience as well.
EXAMINATION Pathway 1 and Pathway 2
Baccalaureate degree
Education 24 semester units of accounting
Requirement 24 semester units of business-
related subjects
LICENSURE Pathway 1 Pathway 2
Same as
Examination
Education Same as
Plus
Requirement Examination
Overall Total of 150
semester hours
two-years of general One year of general
experience, which experience, which
Education may include 500+ may include 500+
Requirement attest hours for those attest hours for those
who want to sign who want to sign
attest reports attest reports.
Information provided by Department of Consumer Affairs
Shamari Mitchell – Final Project Page 3

4. What are the qualifications?
CPA’s must complete the required education and state certified examinations.
Thereare several types of licensing available to become certified by the governing state
where licensing application has been submitted.
TYPES OF LICENSURE APPLICANTS
 Type A - applicants who passes the Uniform CPA Exam and is applying for
licensure as a CPA for the first time.
 Type B - applicants who passes the Uniform CPA Exam in a state other than
State of Application, and has not been issued a valid license to practice public
accounting in any state, and is applying for licensure as a CPA in State of
Application for the first time.
 Type C - applicants who passes the Uniform CPA Exam in a state other than
State of Application,and was issued a valid license to practice public
accounting in a state other than State of Application.
 Type D - applicants who previously was licensed as a CPA in State of
Applicationand the certificate was cancelled after five years for nonpayment of
license renewal fees.
 Type E - applicants who passed the Canadian Chartered Accountant Uniform
Certified Public Accountant Qualification Examination (CAQEX) of the American
Institute of Certified Public Accountants (AICPA) or the International Uniform
Certified Public Accountant Qualification Examination (IQEX) of the AICPA and
the National Association of State Boards of Accountancy (NASBA).
Shamari Mitchell – Final Project Page 4

5. What is the job outlook (future)?
The outlook for employment opportunities are increasing with each year. During the
early 2000’s various business and financial scandals decrease the value and need for
accounting services. But the uniform Sarbanes-Oxley Act (SOX) in 2002 went into
effect. This law, one of the most extensive pieces of business legislation ever passed
by Congress, was designed to Start the economy on the road to recovery and address
the investing public’s lack of trust in Corporate America. It redefines the public
corporation-auditor relationship and restricts the types of services auditors can provide
to clients. The more Accountants (CPA’s) increase their business knowledge of the SOX
Compliance requirements, the more employment opportunities become available.
The U.S. Bureau of Labor Statistics released a report in 2008 that looks at the job
market for accountants and auditors through 2018. They project a growth rate of 22%
during this time frame (U.S. Bureau of Labor Statistics)
.What is the salary range?
The current salary ranges for public accountants consist of several performance
compensation packages. The base salary often includes bonuses and profit sharing.
Pay Scales (Certified Public Accountants with 1 year of experience)
Information provide by Pay Scales.com
Shamari Mitchell – Final Project Page 5

6. Certified Public Accountant (CPA)
Cash Compensation Summary
Percentile 25% 50% 75%
Salary $40,710 $46,413 $53,043
Total Cash $41,490 $47,505 $54,998
Hourly Rate $19.11 $23.17 $28.51
Bonus $1,279 $2,464 $4,689
Profit Sharing $1,299 $2,168 $3,569
Currency
(USD)
Information provide by Pay Scales.com
What are related occupations?
Private Accountants are considered a related field whereby the CPA’s move from
public service to a corporate organizations. Their activities include preparing financial
statements, auditing company records to be sure employees follow accounting policies
and procedures, developing accounting systems, preparing tax returns, and providing
financial information to management decision making.
Certified Management Accountants (CMA) is a managerial accountant who has
completed a professional certification program, including passing an examination.
How far can you advance in this career?
The field of Accountancy for a Certified Public Accountant is license base. CPA’s are
required to take re-examination to remain certified.
Shamari Mitchell – Final Project Page 6

7. Are there any professional organizations, clubs, affiliations and
associations that members of this occupation can join?
The American Institute of Certified Public Accountants (AICPA) is the world’s largest
association representing the accounting profession, with nearly 370,000 members in
128 countries. AICPA members represent many areas of practice, including business
and industry, public practice, government, education and consulting; membership is
also available to accounting students and CPA candidates. The AICPA sets ethical
standards for the profession and U.S. auditing standards for audits of private
companies, non-profit organizations, federal, state and local governments. It develops
and grades the Uniform CPA Examination(Information provided by AICPA).
Why are you interested in this career?
The career of Accountancy allows for an individual to succeed in areas, I have tested
high within. Analytical thinking allows me to use various skills in statistics to be applied
to businesses.
Employersnow seek analytical thinkers with well-rounded academic backgrounds
combining liberal arts and science courses with solid accounting and business classes.
CPA’s have a strong sense of ethics and integrity which is also required in today’s
corporate world. When it comes to financial statements, superior ethics and honesty are
valued above all else. Trusted, competent, reliable thinkers will rise to the top.
Shamari Mitchell – Final Project Page 7

8. Reference Page
The American Institute of Certified Public Accountants (AICPA)
http://www.aicpa.org
U.S. Bureau of Labor Statistics
http://www.bls.gov
Department of Consumer Affairs - California
http://www.dca.ca.gov/cba/
Pay Scale
http://www.payscale.com
Shamari Mitchell – Final Project Page 8