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Oakland Community College What is a CPA and What is Public Accounting Paper

Oakland Community College What is a CPA and What is Public Accounting Paper

Description

There are many job opportunities for students majoring in accounting. Currently, in the U.S.
the demand for accountants exceeds the number of new accounting graduates entering the job
market. This is partly due to the increased government regulation over financial reporting
caused by the corporate accounting frauds that exploded in the early 2000’s. Also, more and
more businesses have come to recognize the importance and value of accounting information.

In the next several semesters you will be introduced to the two fields of accounting: financial
and managerial. Accountants usually choose one of these two fields. However, there are some
accountants, like Professor Young, who have had career paths that weave in and out of both
fields of accounting. The most popular and highly regarded credential for a financial
accountant is to become a Certified Public Accountant (CPA). The most popular and highly
regarded credential for a managerial accountant is to become a Certified Management
Accountant (CMA). These credentials are the doors to many accounting opportunities and the
promise of career advancement.

Review your textbook and do some additional research to learn more about these
certifications. Write a properly formatted essay to explain the educational and training
requirements, the starting salary, and the typical career path of a Certified Public Accountant.

PAPER CONTENT REQUIREMENTS
Write a 2-pg, 12pt single-spaced paper (YES, SINGLE-SPACED!!!) using Microsoft Word containing:


1. Proper heading, including title of paper, student name, class, and date.

2. Introduction paragraph #1: Briefly summarize the accounting profession in the United States. (Note:
your textbook and http://coso.org are good places to start).

3. Paragraph #2: What is a CPA? What is public accounting? What do CPA’s do?

4. Paragraph #3: What are the education, examination and experience requirements to become a CPA in
the state of Michigan? (Note: give details about the CPA exam, including national passing rate).

5. Paragraph #4: What is the typical career path for a CPA? What do CPA’s start their careers doing? What
is the salary range for a new CPA? What is the salary range for a manager at a CPA firm? What is the
salary range for a partner of a CPA firm?

6. Closing paragraph #5: In summary, what are your thoughts on what you learned about public
accounting? Is this a field you might be interested in?

7. Separate Page 3: References. You must properly cite at least 3 references, including your textbook,
using the MLA format.

Please be sure to answer all of the questions above or you will not receive full credit.
Each paragraph must include five to ten complete sentences.

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