Potential Careers with an Accounting Degree

Explore the diverse career opportunities available to individuals with an accounting degree, ranging from audit services and tax compliance to management advisory services, forensic accounting, financial consulting, and more. Discover the wide array of industries and sectors where accountants can work, including public accounting firms, consulting firms, government agencies, education institutions, and even self-employment options. Gain insights into the CPA track and the importance of gaining experience before considering starting your own practice.

• Accounting Careers
• CPA Track
• Industry Employers
• Government Employers
• Accounting Skills

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Uploaded on Jul 25, 2024 | 1 Views

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1. Accounting BYU-Idaho Accounting Department College of Business and Communication

2. What Can I Do With An Accounting Degree? Audit Services Tax Compliance and Consulting Information Systems Management & Consulting Management Advisory Services General Corporate & Financial Accounting Cost Accounting Governmental Accounting Forensic Accounting Financial Consulting Expert Witness and Litigation Support Services Run your own business BYU-Idaho Accounting Department

3. Who Can I Work For? Public Accounting Firms (Certified Public Accountant Track) Local, Regional, National, International Consulting Firms Business and Industry Manufacturing, Retail, Service, Banking, Insurance, Health Care, Natural Resources, Non-profit, etc. Government Self-Employed Education College, High School BYU-Idaho Accounting Department

4. The Public Accounting Profession (CPA Track) Following graduation with your bachelors you may consider continuing on to become a CPA which will require 150 hours or a Masters degree. Employers of CPAs include the following: Big-4 Firms PricewaterhouseCoopers Deloitte Ernst & Young KPMG, LLP Regional Firms (often require 150 credit hours or a masters for permanent full- time positions) Grant Thornton BDO Seidman Local CPA Firms Rudd & Company Private Practice It is recommended that you have at least 6 7 years of professional experience with a CPA firm before attempting to begin your own practice! WHY? Lack of experience and reputation = no clients. No clients = No income. No income = bankruptcy. Bankruptcy = unhappy accountant. Unhappy accountant = Back to college for a degree in marketing. Be wise and plan your career. BYU-Idaho Accounting Department

5. Sample of Business and Industry Employers If you decide not to pursue a career in public accounting, you can work in industry for companies like these: Boeing Walmart Micron Microsoft Simplot BYU-Idaho Accounting Department

6. Sample of Government Employers or for institutions like these: Federal Bureau of Investigation US General Accounting Office Defense Contract Audit Agency Internal Revenue Service State of Idaho Idaho State Tax Commission City of Boise BYU-Idaho Accounting Department

7. What Skills Should I Possess? If you pursue a career in accounting, you should 1. become familiar with accounting terminology; 2. become proficient with the tools of the trade; 3. learn the concepts and principles that govern accounting and how to apply them; 4. develop advanced computer skills; 5. develop analytical and people skills; 6. possess written and oral communication skills; and 7. understand legal and ethical conduct within the accounting profession. BYU-Idaho Accounting Department

8. How Do I Become a Certified Public Accountant? If you want a long-term career in public accounting, you must become a licensed CPA. In order to become licensed, most states require 30 credits of additional education beyond the bachelors degree, a minimum number of accounting and business credits, 1 2 years of qualifying experience, and a passing grade (75%) on the CPA Exam. If this is your career goal, you should plan on earning a Masters of Accountancy degree (MAcc) or your MBA from an accredited university. BYU-Idaho Accounting Department

9. What Salary Can I Expect? Employer Public Accounting (small to large firms) Corporate Accounting (small to large companies) Jr. Level (0 - 2 yrs.)** Sr. Level (3 5 yrs.)** $48,500-$68.750 $57,250-$82,000 $54,500-$103,000 $68,000-$122,250 Note: Add 5 to 10 % additional for one who attains their CPA. **Robert Half 2023 Salary Guide BYU-Idaho Accounting Department

10. What Salary Can I Expect? Position Small to Large Co.** Chief Financial Officer $145,000-$256,000 Corporate Controller $111,000-$210,750 Tax Manager $100,750-$138.750 Tax Director $120,000-$190,750 **Robert Half 2023 Salary Guide BYU-Idaho Accounting Department

11. The Integrated Accounting Degree In order to graduate from BYU-Idaho with an accounting degree, you must fulfill the University s Graduation Requirements which includes earning a minimum of 120 credit hours within specified areas of study shown below: General Education Accounting Major 1 Approved Cluster Electives Total 39 Credits 52 Credits 12 Credits 17 Credits 120 Credits BYU-Idaho Accounting Department

12. Accounting Major Course Requirements Required Courses Options (any 2) Acctg 312 Acctg 322 Acctg 354 Acctg 403 Accounting Acctg 201 Acctg 202 Acctg 233 Acctg 275 Acctg 301 Acctg 302 Acctg 321 Acctg 333B Acctg 344 Acctg 398R Acctg 456 Acctg 499 In order to graduate with a bachelor s degree in accounting, you must complete each of the preceding courses with a C- or better and achieve a cumulative GPA of a C on the courses. Business BUS 375 FIN 401 Other Math 221A Econ 150 Econ 151 NOTE: Those planning on entering the CPA profession or planning on going to graduate school are advised to consider which of the four above will best meet your career goals. BYU-Idaho Accounting Department

13. Minor or Clusters AND, in addition to completing the General Education and Major requirements, you are required to: complete 1 APPROVED cluster of 12 credits, Approved clusters for Accounting include: Data Science #C124 General Business #2101 General Economics #2300 Computer Information Technology #2506 LEAVING17Electivecredits BYU-Idaho Accounting Department

14. The Accounting Internship You are required to have your internship approved by the accounting internship coordinator prior to accepting the internship. You are also required to register for 3 credits of Accounting 398R. Your internship qualifies for 3 credits and consists of at least 270 hours of accounting-related work under the supervision of an accountant. Additionally, you will be requested to complete assignments during your internship. A grade will be given based on satisfactory completion of the internship and assignments. Prior work-related experience will not satisfy the internship. The busiest time for accountants in business tends to be January April. Accordingly, it is recommended, but not necessary, that your internship be completed during the Winter Semester of your junior or senior year. Accounting 301 and Accounting 321 are prerequisites. BYU-Idaho Accounting Department

15. BYU-Idaho Accounting Department