Ask a CPA

CPA's understand and can articulate the language of business. Therefore, CPA's have the ability to specialize in numerous areas, including, to name a few, Personal Financial Planning, Fraud and Forensics, Information Technology and Business Valuation. Personal Financial Planning, for example, is an area in which the CPA helps clients determine how they should invest and spend their individual finances. Some of these clients could be multi-millionaires who need advice on the best ways to make their money grow and direction on how to set-up trusts for future donations and inheritances. While others seeking financial planning are average citizens who require assistance planning for their children's college education, their solid retirement and the care of their aging parents. The AICPA offers credentials in four specialty areas. Be sure to learn more at www.aicpacommunities.org

After a CPA gains experience in the fundamentals of the business and the accounting world, this person may want to concentrate on becoming an expert in a particular industry, such as banking, manufacturing, non-for-profits, oil and gas or auto dealerships. A huge area right now is fraud and forensics. The world needs CPA's to investigate those who try to steal money from corporations and the public or who trick people into false investment ploys, like a ponzi scheme. Since CPA's know the language of business, these experts are often the best people to sniff out a rat! Take a a little quiz at www.journalofaccountancy.com

Finally, a CPA may specialize in other ways, such as concentrating on tax law and obtaining a JD. Or working their way to a CFO or CEO role and then spending the remainder of his/her career leading various organizations to success in similar roles. And specialization can be as simple as audit vs. tax vs. consulting or large (SEC) vs. small (mom and pop businesses) clients. New standards and regulation are introduced into our profession on a regular basis. So a person can make a career out of becoming an expert in tax legislation, for example. While other CPA's may eventually spend the majority of their time working with SEC companies, who have very different reporting requirements than a non-public company.

The most important part to specializing is gaining the foundation that is required for a CPA license. From there, the opportunities for a CPA are endless!

Being a CPA, CPA Exam & Certification

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While in college you should choose accounting as your major but you should also make sure your education is well rounded. CPA's have a great deal of face to face interaction making public speaking and interpersonal communication skills important. CPAs also write a fair amount of reports and correspondence so strong written communication skills are also helpful.

The rules and regulations to become a CPA vary from state to state. It is always recommended that you review the guidelines for your state as the requirements for work experience as well as educational experience could influence the courses you take as well as where you begin your career.

You can find information about your state CPA society here:

www.startheregoplaces.com

Colleges & Classes, CPA Exam & Certification

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I think you should definitely pursue your desire to be a sports team accountant regardless of how you are currently performing in math.

I used to tutor students in math while an undergraduate student and found that most of the time the people I assisted were actually quite strong in math. They just needed someone who could identify their particular weaknesses and help turn it into strengths. I would suggest you get a personal tutor who can assess your current skill level and help you develop a plan for improving it.

In addition, I would recommend that you contact your academic advisement/career office and see if they can put you in contact with some CPA's that already work in the position you will be striving to obtain. That way you can get a better understanding of the type of math they encounter on a day-to-day basis.

For the first few years of my career all I really utilized was basic math which included calculating a lot of percentages. As my career progressed I started to utilize more statistics. I share all this to help you understand that you may start off in a particular accounting role but as you progress in your career you will move into new accounting roles which may require a different set of math skills. So take a deep breath, commit to not allowing math to be a challenge in your life any further, and I look forward to seeing you do great things with a successful sports team.

Colleges & Classes, Corporate Accounting

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Obtaining a CPA license was a natural progression for me since my major was Accounting and at the time I sat for the exam I was working in a Public Accounting Firm. My real passion is IT audit (since my original major in college was MIS (Management Information Systems) and I added Accounting). After college I started working at PwC in IT audit and decided to pass the CISA (Certified Information Systems Auditor) exam first. Once I gained confidence by passing the CISA exam and realized the value of having a CPA license in the business world (increased knowledge, respect and pay), I worked on passing the CPA exam. What a great decision it has been!

Being a CPA

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That's an interesting question, and I can honestly say I never regretted getting my CPA license. I may have questioned my sanity a time or two while I was studying for the CPA exam, but I always believed having the CPA designation would benefit me. Becoming a CPA requires commitment and hard work, but the pay-off greatly exceeds the cost (gee, I sound like an accountant). Whether you decide to pursue a career in public accounting, the corporate world or government, having your CPA license will only assist you in achieving success in your career. I have, on the other hand, observed where the lack of a CPA license can be an obstacle to career opportunities in accounting.

I remember the challenges I faced while working toward my CPA license, and I had to make some sacrifices, giving up my life to studying for a short period. I have coached several staff members at my firm through the process, and the best advise I can give is to prepare for the CPA exam sooner rather than later. The staff who take the CPA exam while finishing up their college course work or very soon after have had great success in passing the exam, mainly because they still have the good study habits they cultivated during school. Also, once you begin your career in accounting, juggling your work and life responsibilities while squeezing in study time can be a challenge, but it is doable!

I would strongly recommend that anyone planning a career in the accounting field to seriously considered obtaining his/her CPA license. Having this designation will distinguish you as someone who has expertise in the accounting field and will only be an asset to you in your future.

Being a CPA

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