The University of ToledoCollege of Business and Innovation

Department of Accounting

Amy A. French, MBA, CPA, CFELecturer

Updated May 18, 2011

Accounting Degrees¨ Associate Degree in Accounting Technology• 2 year Degree

¨ Bachelor of Business Administration (BBA) in Accounting• 4 year degree

¨ Masters of Science in Accountancy (MSA)• 30 semester hour program

• University of Toledo’s Gamma Epsilon Chapter chartered in 1966

• Founded in 1919 at the University of Illinois, Urbana.

• Premier professional business and financial information fraternity

• Recognizes academic excellence

• Provides interaction among students, faculty, and professionals

Beta Alpha Psi

Becoming a CPA

Education• Accounting degree

Exam• Pass the 4 sections

Experience• Accounting experience

Most requirements are determined by the state/jurisdiction in which you hope to practice. In general, this is a summary of the steps to CPA licensure.

Becoming a CPA¨ Education requirements

– A baccalaureate degree and 150 semester hours • 30 semester hours in accounting • 24 semester hours in business courses other than accounting

¨ Exam Requirement– Apply to sit based on state requirements– Pass all 4 parts with a 75% or higher

• Business, Audit, Regulation and Financial¨ Experience Requirement

– 1-2 years under a CPA

CPA Exam Pass RatesAccording to the National Association of State Boards of Accountancy (NASBA) UT ranked in the top 10 nationally for pass rates in Audit

CPA Exam Pass Rates

  Candidates withAdvanced degrees

All candidatesWith degrees

Across the United States:38.21% 32.93%

Across Ohio: 43.08% 37.54%UT COBI students: 58.62% 40.91%

Comparing the percentage of college graduates who passed all four parts of the CPA exam reveals:1

1According to the recently released report (for 2009) from the National Association of State Boards of Accountancy (NASBA), The University of Toledo College of Business and Innovation (UT COBI) graduates passed the CPA exam at rates exceeding both state and national averages.

Where Accountants Work¨ Public Practice¨ Business/Industry¨ Government ¨ Non-Profit Organizations¨ Colleges/Universities

Careers in Accounting¨ Audit ¨ Assurance Services

• (E-Commerce, risk assessment, IS assessment)¨ Environmental Accounting

• Environmental compliance issues¨ Forensic Accounting

• Searches for evidence of criminal conduct¨ Information Technology Services¨ International Accounting¨ Consulting Services¨ Personal Financial Planning¨ Tax advisory Service¨ Accounting Educators

The Hiring EnvironmentBy Robert Half

¨ Two similar candidates– Which additional skills most valuable

• 31% Personality or people skills• 27% Software/technology• 20% Industry specific experience• 11% Certification or advanced degree• 1 – 4% Multilingual, international, other

http://www.roberthalffinance.com/FreeResources

Accounting is consistently one of the hottest jobs for new graduates, according to the National Association of Colleges and Employers.

Figure 1: Top Jobs for the Class of 2009

Job Function Starting Salary OfferTeaching $35,496Management Trainee $41,353Financial/Treasury Analysis $52,043Consulting $56,472Sales $41,577Accounting (Public) $49,437Accounting (Private) $45,859Software Design & Development $63,798Registered Nursing $45,229

Project Engineering $58,570

according to the National Association of Colleges and Employers.Figure 1: Top Jobs for the Class of 2009

http://www.aicpa.org/Becoming+a+CPA/CPA+Candidates+and+Students/Career+Paths.htm

Accounting Salariesby Robert half

Figure 2: Starting Accounting Salaries 2011

Job Function Starting Salary OfferInternal Auditor – Lrg Company $44,500Internal Auditor – Med Company $42,500IT auditor – Large Company $51,750IT auditor – Medium Company $48,000General Accountant – Lrg Co. $38,500General Accountant – Med. Co. $36,500General Accountant – Sm Co. $34,000Cost Accountant – Lrg Company $40,500Cost Accountant – Med company $39,000Tax Accountant – Lrg. Co. $41,500Tax Accountant – Med. Co. $40,250Forensic Accountant – All sizes $61,250

http://www.roberthalffinance.com/FreeResources

Positions in DemandBy Robert Half International

“The CPA designation remains the most in demand credential for accounting and finance, especially when paired with big 4 experience.”• Business Analyst

•Maximize computer systems to improve efficiencies and profitability

• Financial Analyst•Evaluate financial plans, forecasts, budgets and identifying

ways to improve profitability• Controllers

•Organizations are adding controllers and assistant controllers to help oversee accounting operations.

• Senior and Staff Accountants• Accounting Clerks• Billing/Collection staff

• http://www.roberthalffinance.com/FreeResources

Recent salary ranges in accounting are:

Big 4 Firm Overall Typical Experience

Entry Level $55,000 $50,000 - 70,000 First year

Junior Staff Accountant $46,000 - 63,000 $40,000 - 80,000 1-2 years

Senior Staff Accountant $65,000-95,000 $70,000 3-5 years

Manager $65-140,000 $85,000 5-7 yearsSenior Manager $72-160,000 $115,000 7 years plus

Partner $200,000 - 3,000,000 $150,000 10 years plus

Recent salary ranges in accounting are:

http://careers-in-accounting.com/acsal.htm

Questions?

Amy.French@utoledo.edu