Career Options

By Michael A. Thompson, CPA

If you know of a high school or college student who is taking an accounting class, this may be an opportunity to talk to them about a career in accounting. I want to pass on a positive message to them: this may be their initial exposure to accounting and some of the hurdles may seem daunting, but they are achievable. The accounting profession offers many opportunities, including those I’ll describe here.

Bookkeeper: In a small business a good bookkeeper is always highly prized. To become a bookkeeper you need at least a high school diploma and you must be trustworthy. You gain experience and confidence through on-the-job work experience. You may use accounting software such as QuickBooks to record revenue from cash register sales, and you may also write checks to pay for business expenses. Should you wish to become a certified bookkeeper, the American Institute of Professional Bookkeepers sponsors the Certified Bookkeeper designation. For certification, candidates must have at least two years of bookkeeping experience, pass a four-part examination and adhere to a code of ethics.

Tax Preparer: To be paid to prepare an income tax return in California you must be registered with the California Tax Education Council. To become a registered tax preparer you must complete a 60-hour training course and get a $5,000 surety bond. These requirements may seem intense, but they are reasonable and achievable. There are many approved companies that offer the necessary training that can also assist you in completing the basic requirements. One limitation worth noting is that a registered tax preparer cannot represent a client before the IRS. However, you can explain how you prepared the tax return. Only CPAs, enrolled agents and attorney’s can represent a client before the IRS.

Accountant: All corporations employ accountants to perform their financial reporting responsibilities. This includes taking all the steps required to make sure a journal entry is properly reflected in the general ledger to support the preparation of accurate financial statements. This is high-level work requiring detailed technical knowledge and abilities. Thus, the minimum requirement to become a corporate accountant is a bachelor’s degree in accounting. Since accountants are always highly sought after I recommend that you research the requirements for admission to an accounting program at a local community college or university.

Certified Public Accountant: Many accountants choose to advance their careers by becoming a certified public accountant. Only a CPA can audit financial statements. CPAs also can represent a client before the IRS, perform business consulting services and are regulated by the California Board of Accountancy. The minimum requirements to take the CPA exam are a bachelor’s degree with 24 semester units in accounting and 24 semester units in business from an accredited college. The CPA exam is a rigorous four-part exam covering areas deemed essential to the practice of public accounting. I encourage you to enroll in an accredited accounting program to meet the requirements to pass the CPA exam and then be welcomed into the ranks of being a licensed CPA. The rewards are well worth the efforts. You can find licensing—and career—information on CalCPA’s website.

In addition, your community college has talented professors who are passionate about answering student questions relating to accounting careers. Each year, the Peninsula Silicon Valley Chapter solicits applications for accounting scholarship from students at our local colleges: Cañada College, Foothill College, Menlo College, Notre Dame de Namur University, College of San Mateo and Skyline College. CalCPA offers a student membership at the discounted price of $30 year. I encourage you to pursue an accounting career and to submit a scholarship application.

— Michael A. Thompson, CPA

This entry was posted on Wednesday, July 22nd, 2009 at 4:14 pm and is filed under President's Message. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.