MNCPA Accounting Careers Planner

MNCPA Accounting
Careers Planner
Picture yours
elf as
a CPA.
Table o
f
Conten
ts
PAGE
Real Life: It’s All About Choices ....................................................... 4
First Things First: Get to College ..................................................... 5
Beyond the Basics ............................................................................ 6
– Sample 150-hour Accounting Degree Program
Financing Your Education ................................................................ 7
– Online Financial Resources
Accounting Career Positions ........................................................... 8
Who Hires CPAs .............................................................................. 9
Minnesota Colleges and Universities with
Accounting Programs ......................................................... 11-16
MNCPA Resources ......................................................................... 17
What I Learned on the Road ................................................... 18-19
3
Real Life
It’s all about choices – what ring you want on your cell phone, which car to buy,
where to live and the quintessential life question – what to be when you grow up.
So what do you want to be when you grow up? The big cheese? Chief financial
officer for an e-commerce company? Maybe you’re just looking for a way to put
all those mystery novels you read as a kid into practice in the real world.
Well, no matter what you’re looking for, you can’t go wrong with a degree in
accounting. Accounting is the language of business that opens the door to success
in every company and organization.
With job titles like “Managing Partner,” “Chief Financial Officer” and “Controller,”
certified public accountants (CPAs) are outgoing, creative and analytical. They’re
male and female and come from every ethnic and cultural background.
Banish the notion that CPAs are just here to count the money. Today’s CPAs have
responsibilities that encompass far more than payroll and taxes. CPAs are financial
planners, helping their companies and clients chart their course for the future.
They’re the chief executive officers and chief financial officers for Fortune 500
companies. CPAs also run the show for movie studios and track down criminals
for the FBI.
CPAs are taking care of business in every industry and there’s no sign of a slowdown. According to the Bureau of Labor Statistics, employment of accountants and
auditors will continue to grow through the next decade. Accountants who have
earned their CPA certification will have the best job prospects as they enjoy a wide
range of career opportunities. The CPA designation also nets you a 10 percent
salary increase over an accounting degree alone.
Accounting is a growing profession with diverse opportunities.
It’s the start of something big.
Make it your choice today.
4
First Things First:
Get to College
Going to college is the best way to make
it to the top. Plus you get the added
bonus of expanding your mind and
discovering your potential. College
experiences will mold you into
a skilled, knowledgeable and
confident graduate ready to make
your mark on the world.
Begin
Applying to college can get
confusing. You may think that the
classes you take in high school aren’t as
important as the grades you earn. While your
overall grade point average (GPA) is important in
determining whether or not the college or university of your
choice accepts you, the classes you’ve taken also play a significant role.
your j
ourney
.
Although you should refer to individual university catalogs for high school
courses required for admission, the following is a list of recommended classes that
college-bound students in Minnesota should complete:
Communications and English
Mathematics
Science
Social Studies
World Languages
The Arts
Computers
4 years
4 years
3 years
2-3 years
2-3 years
1 year
1 year
Source: Minnesota Higher Education Services Office
When reviewing your application, colleges and universities will most heavily
weigh your final high school rank combined with your submitted SAT or ACT
scores. Depending on the individual university, participation in extracurricular
activities often plays a large role in gaining acceptance to the college or university
of your choice.
5
Beyond The Basics
Once you’ve been accepted into a college
or university, it’s time to think about
your classes. Every college student takes
standard core classes, but you may be
wondering what you’ll study once
you’re beyond the basics.
If you choose to major in
accounting, classes in the
business field will fill your time.
Deciding to major in accounting
doesn’t mean you only take
business classes, though. English,
government, speech and other courses are part
of an accounting major’s degree plan. CPAs are expected to
be knowledgeable about a wide range of issues and possess analytical
abilities and communication and interpersonal skills that will enable them to serve
the public in a complex and changing environment.
dy.
u
t
s
l
l
’
u
What yo
Sample 150-Hour Accounting Degree Plan
(will vary based on the university)
General Education (60-80 hours)
•
•
•
•
•
Ethics
Communication
Behavior Sciences
Economics
Liberal Arts (history, philosophy, literature,
languages, arts, humanities, and sciences)
•
•
•
•
Elementary Accounting
Computers
Mathematics and Statistics
Electives
Education in Business Administration (35-50 hours)
•
•
•
•
6
Economics
Business Law
Marketing
Finance
•
•
•
•
Applications in Business
Communication Skills
Business Ethics
Electives
Financing Your
Education
Financial aid helps you cover the cost of
your college education. Most financial
aid is given on the basis of eligibility
or need, determined by the school
you are attending, information
you provide about you and your
family’s ability to pay for your
education and a set of formulas
established by law.
You’ve
made
it.
In general, there are four types of financial
aid: scholarships, grants, loans and work study.
Scholarships may be based on merit or special interests; grants
are given to students with financial need; loans are based on eligibility
and are required to be repaid; and work-study provides on-campus jobs for
students with financial need.
The accounting industry provides hundreds of thousands of dollars in
scholarships to students pursuing accounting degrees. Your guidance counselor
may have information on scholarships given to high school students.
The Career Center section of the Minnesota Society of CPAs (MNCPA) web site,
www.mncpa.org, has information about our accounting scholarships or you can
search the Internet for other scholarship and financial aid opportunities.
Online Financial Aid Resources
The Financial Aid Information Page
www.finaid.org
U.S. Department of Education Student Financial Assistance
www.ed.gov/finaid.html
Fast Web
www.fastweb.com
Scholarships.com
www.scholarships.com
Fresch Free Scholarship Search
www.freschinfo.com/index.phtml
Student Advantage Scholarship Search
www.scholaraid.com/www.aicpa.org/nolimits
7
Accounting
Career Positions
You’re thinking about studying
accounting but you really want to
know where it can take you and
how much you’ll get paid.
y!
e
n
o
m
e
h
w me t
Sho
Staff accountant
(0-2 years experience)
• Helps supervisor by maintaining
financial reports and general
ledgers.
• Average salary of $38,945$47,896 in Minnesota.
Actuary Assistant (0-2 years experience)
• Conducts analysis, pricing and risk assessment to estimate financial outcomes.
• Average salary of $50,760-$62,385 in Minnesota.
Treasury Analyst (0-2 years experience)
• Responsible for financial planning & analysis to forecast budgets
• Average salary of $42,767-$55,768 in Minnesota.
Financial analyst (0-2 years experience)
• Conducts financial analysis projects and statistical studies.
• Average salary of $44,144-$56,482 in Minnesota.
Internal auditor (0-2 years experience)
• Audits the accounting and financial data of various departments within
an organization.
• Average salary of $45,805-$56,943 in Minnesota.
Tax accountant (0-2 years experience)
• Maintains tax records and prepares tax returns, related schedules and
related reports.
• Average salary of $44,066-$56,210 in Minnesota.
Chief financial officer
• Responsible for directing an organization’s overall financial policies.
• Average salary of $240,484-$395,668 in Minnesota.
*CPA certification is worth a 10 percent increase in salary. Salaries for Minneapolis-St. Paul area.
Source: www.salary.com
8
Who hires CPAs
and what are they looking for?
Without a crystal ball, you probably don’t know what employers look for when
they hire CPAs. Wouldn’t it be great if you were in the know before you finished
college and entered in the job market?
MNCPA asked a few Minnesota employers of CPAs and accountants what they
look for in potential employees and what advice they would give students in
accounting. Here’s what they had to say.
Important qualities in potential job candidates
•
•
•
•
•
•
•
•
Ability to work on multiple projects
Relevant work experience
Flexibility in work habits and processes
Good communication skills
Positive attitude
Analytical skills
Technical skills
Attention to detail
Why obtaining a CPA designation is important
•
•
•
•
•
•
CPAs are widely recognized by the public as trusted business advisers
Provides many opportunities that would otherwise not be available
Respect
Prestige
Enhanced image
Increased base salary
Recommended college minors to combine with an
accounting major
•
•
•
•
Finance
Economics
Law
Foreign Language
Recommended college courses to prepare you
for the real world
•
•
•
•
Communications
Business Writing
Public Speaking
Business Law
9
Minnesota Colleges and Universities with
Accounting Programs
Alexandria Technical College
www.alextech.org
1601 Jefferson Street
Alexandria, MN 56308
Carole Weber-Brown
(320) 762-0221
Bemidji State University
www.bemidji.state.edu
1500 Birchmont Drive NE, #30
Bemidji, MN 56601
Sandra Bland
(218) 755-3716
Anoka Hennepin
Technical College
www.ank.tec.mn.us
1355 West Highway 10
Anoka, MN 55303
Erika Limbacher
(763) 576-4787
[email protected]
Bethel College
www.bethel.edu
3900 Bethel Drive
St. Paul, MN 55112
Bruce Olsen
(651) 638-6320
Anoka- Ramsey
Community College
www.an.cc.mn.us
Cambridge Campus
300 Polk Street SE
Cambridge, MN 55008
Anita Jeziah
(763) 433-1112
Coon Rapids Campus
11200 Mississippi Blvd NW
Coon Rapids, MN 55433
Anita Jeziah
(763) 433-1112
Augsburg College
www.augsburg.edu
2211 Riverside Avenue
Minneapolis, MN 55454
Stuart Stoller
(612) 330-1768
Central Lakes College
www.clc.mnscu.edu
501 W. College Drive
Brainerd, MN 56401
Jeff Wig
(218) 855-8092
College of St. Benedict
www.csbsju.edu
37 S. College Avenue
Saint Joseph, MN 56374
Mary Jepperson
(320) 363-2031
College of St. Catherine
www.stkate.edu
2004 Randolph Avenue
St. Paul, MN 55105
Megan Kalina
(651) 690-8635
11
College of St. Scholastica
www.css.edu
1200 Kenwood Avenue
Duluth, MN 55811
Paul Khoury
(218) 723-6470
Hennepin Technical College
www.hennepintech.edu
9000 Brooklyn Blvd.
Brooklyn Park, MN 55445
Christine Reineke
(952) 995-1603
Concordia College-Moorhead
www.cord.edu
901 8th Street South
Moorhead, MN 56560
Ron Twedt
(218) 299-3476
Inver Hills Community College
www.inverhills.edu
2500 East 80th Street
Inver Grove, MN 55076
Cynthia Weishappl
(651) 450-8500
Concordia University-Saint Paul
www.csp.edu
Hamline and Marshall Avenues
275 North Syndicate Street
St. Paul, MN 55104
Dennis Zimmerman
(651) 603-6157
Itasca Community College
www.itasca.mnscu.edu
1851 East Highway 161
Grand Rapids, MN 55744
(218) 327-4460
Dakota County
Technical College
www.dctc.mnscu.edu
1300 East 145th Street
Rosemount, MN 55068
Tom Wood
(651) 423-8391
Fergus Falls
Community College
www.minnesota.edu
1414 College Way
Fergus Falls, MN 56537
Pam Wolfe
(877) 450-3322
Gustavus Adolphus College
www.gustavus.edu
800 West College Avenue
St. Peter, MN 56082
Timothy Peterson
(507) 933-7410
12
Lake Superior College
www.lsc.edu
2101 Trinity Rd.
Duluth, MN 55811
Pat Carey
(218) 733-7681
[email protected]
Metropolitan State University
www.metrostate.edu
1501 Hennepin Avenue
(13th St. & Harmon Place)
Minneapolis, MN 55403
Joe Rockers
(612) 659-7279
Minneapolis Community
and Technical College
www.minneapolis.edu
1501 Hennepin Avenue
Minneapolis, MN 55403
Mike McGee
(612) 659-6105
Minnesota State
University-Mankato
www.mnsu.edu
South Road & Ellis Avenue
Mankato, MN 56001
Diane
(507) 389-2965
Northland Community and
Technical College
www.northlandcollege.edu
1101 Highway 1 East
Thief River Falls, MN 56701
Norma Konsehak
(218) 681-0766
Minnesota State
University-Moorhead
www.mnstate.edu
1104 7th Avenue South
Moorhead, MN 56560
Lee Dexter
(218) 477-4071
Northwest Technical College
www.ntcmn.edu
Regional Office
905 Grant Ave SE
Bemidji, MN 56601
Gary Sorenson
(218) 755-4270
Minnesota West
Community and
Technical College
www.mnwest.edu
1593 11th Avenue
Granite Falls, MN 56241
Leslie Bauman
(320) 564-4511
Northwestern College
www.nwc.nwc.edu
3003 North Snelling Avenue
St. Paul, MN 55113
Charles Kuizinen
(651) 631-5316
Normandale Community College
www.normandale.mnscu.edu
9700 France Avenue South
Bloomington, MN 55431
Kathy Reeslund
(952) 487-8326
North Hennepin
Community College
www.nhcc.edu
7411 85th Avenue North
Brooklyn Park, MN 55445
Maria Lee
(763) 424-0826
Pine Technical College
www.pinetech.edu
900 4th Street SE
Pine City, MN 55063
Julie Shores
(320) 629-5138
Rasmussen College
www.rasmussen.edu
St. Cloud Campus
226 Park Ave S
St. Cloud, MN 56301
(320) 251-5600
Eagan Campus
3500 Federal Dr.
Eagan, MN 55122
(651) 687-9000
13
Rasmussen College Continued
Eden Prairie Campus
7905 Golden Triangle, Suite 1000
Eden Prairie, MN 55344
(952) 545-2000
Brooklyn Park Campus
8301 93rd Ave N
Brooklyn Park, MN 55445
(763) 493-4500
Minnetonka Campus
12450 Wayzata Blvd
Minnetonka, MN 55305
(763) 545-9559
Ridgewater College
www.ridgewater.mnscu.edu
Brian Wilson
(320) 234-8510
Hutchinson Campus
2 Century Ave SE
Hutchinson, MN 55350
(320) 222-5200
Willmar Campus
2101 15th Ave NW
Willmar, MN 56201
(320) 234-8500
Riverland Community College
www.roch.edu
2200 Riverland Dr.
Albert Lea, MN 56007
Kim Hansen
(507) 379-3342
St. Cloud State University
www.stcloudstate.edu
720 4th Avenue South
St. Cloud, MN 56301
Kate Mooney
(320) 308-0121
St. Cloud Technical College
www.sctc.com
1540 Northway Drive Street
St. Cloud, MN 56303
Jim Anderson
(320) 308-5013
St. Johns University
www.csbsju.edu
P.O. Box 2000
Collegeville, MN 56321
Mary Jepperson
(320) 363-2031
Saint Mary’s University of MN
www.smumn.edu.sitepages/pid1947.php
700 Terrace Heights
Winona, MN 55987
Teresa Speck
(507) 457-1449
St. Paul Technical College
www.saintpaul.edu
235 Marshall Avenue
St. Paul, MN 55102
Roy Vikemeier
(651) 846-1319
Rochester Community and
Technical College
www.roch.edu
851 SE 30th Avenue
Rochester, MN 55904
Len Cronin
(507) 280-3138
15
South Central
Technical College
www.southcentral.edu
Joanie Olson
(507) 389-7383
Mankato Campus
1920 Lee Boulevard
North Mankato, MN 56003
Faribault Campus
1225 3rd Street SW
Faribault, MN 55021
Southwest Minnesota
State University
www.southwest-msus.edu
1501 State Street
Marshall, MN 56258
Jan Christenson
(507) 537-6114
University of
Minnesota – Crookston
www.crk.umn.edu
2900 University Ave.
Crookston, MN 56716
Larry Huus
(218) 281-8189
University of
Minnesota – Duluth
www.d.umn.edu
1049 University Drive
Duluth, MN 55812
Al Roline
(218) 726-8550
University of Minnesota
www1.umn.edu/twincities/index.php
321 19th Ave S
Minneapolis, MN 55455
Judy Rayburn
(612) 624-3840
University of St. Thomas
www.stthomas.edu
2115 Summit Avenue
St. Paul, MN 55105
Jane Saly
(651) 962-4254
Winona State University
www.winona.msus.edu
P.O. Box 5838
Winona, MN 55987
James Hurley
(507) 457-5172
*This list includes schools that are accredited by the North Central Association of
Colleges and Universities.
*It is the student’s responsibility to make sure that the school he/she chooses
offers an accounting program in line with the requirements of the Minnesota
State Board of Accountancy if he/she is interested in sitting for the CPA exam.
To determine the accreditation and specific accounting programs of individual
schools, please contact the school’s accounting department.
16
MNCPA Resources
Once you pass the Uniform CPA
Exam, the next step is to become
part of your professional association
by joining the Minnesota Society
of CPAs (MNCPA). Membership
in your professional society gives
you the competitive edge needed
to continue along your career
path to success. The MNCPA
provides information, education,
resources, and opportunities for
professional development to
help you meet your career and
personal goals as a CPA.
Where c
areers a
re stren
gthened
!
Founded in 1904, the Minnesota Society of Certified Public
Accountants is a professional organization that serves over 9,200 members
across Minnesota, the country, and the world. Members come from public
practice, industry, government and education.
Headquartered in Bloomington, Minnesota, the MNCPA operates through a full time
staff, volunteer councils, task forces, statewide chapters, and a board of directors elected
by the membership. Membership in the Society is open to anyone holding a CPA
certificate from any state, those preparing to take the CPA exam and college students
enrolled in a full-time accounting program.
The MNCPA sponsors a variety of educational and professional development
activities throughout the year. Seminars, conferences, luncheons, breakfasts,
workshops, forums and social events are available to members and the general
public. These programs are taught by nationally recognized instructors from across
the country and help keep members up-to-date with education requirements and
current trends.
The combination of dedicated volunteers and knowledgeable staff allows the
MNCPA to offer a wide variety of benefits and services to its members. In addition
to networking opportunities and discounted CPE, Society members have access
to an online career center, credit union membership, discounted movie tickets, a
referral service, a free professional email account, Society coordinated publications
and much more. Get connected. Get the edge. Join the MNCPA!
www.mncpa.org/join
17
What I Learned
on the Road
nt
n, M
eside
r
P
A
P
NC
dria
A
y
s
t
e
B
I’ve been fortunate to
visit some of the college
accounting programs in
Minnesota over the past year.
My discussions with faculty
have been really interesting.
Let me share some thoughts
with you:
•
Accounting faculties care about their students. So much so, that
if they believe accounting isn’t a good fit for you, they’ll sit you
down and tell you so. Accounting has become such a popular
major that some students choose it without a real talent and/or
commitment for the work. If your accounting professor tells you
to rethink your major, listen. It could save you a lot of heartache
in the future.
•
There are twenty-two accounting programs in Minnesota.
Programs at large universities and small colleges, public schools
and private schools. There’s a good fit for you out there, but you
have to do your homework. Visit several schools to figure out
which program best meets your needs and finances.
•
If you’re thinking about starting your education at a community
college, be absolutely sure that all your credits will transfer
100 percent to the college of your choice. Different colleges and
universities have different transfer rules. It can be painful to find
out that many of your credits won’t transfer when you’re ready
to move on to a four-year college.
18
•
Consider how you’ll meet the 150-hour requirement for CPA
certification in Minnesota. Do you want to complete the extra
hours as part of your undergraduate training, do you want to get
a Master’s degree or do you want to get a job when you receive
your undergraduate degree and then get the extra credits you
need? Some colleges have set up tracks so you can get the 150
hours completed in 4 years and won’t have the extra year on
campus to pay for. Make sure to ask questions when you visit.
•
Ask about whether faculty members have passed the CPA exam
and if there are faculty members with “real life” accounting
experience. Faculty with this type of experience can be
extremely valuable to you as mentors.
Becoming a CPA is a very rewarding career choice. I encourage
you to explore all the options in our fine Minnesota accounting
programs and find the one that fits you best.
Good luck!
It’s the
start of
somethi
ng big.
19
Picture yours
elf as
a CPA.
Published by the
Minnesota Society of Certified Public Accountants
1650 West 82nd Street, Suite 600
Bloomington, MN 55431
952-831-2707
20
www.mncpa.org
Copyright© 2007-2008 by MNCPA