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CPA Benefits

A Certified Public Accountant, (CPA), is a trusted financial advisor who helps individuals, businesses, and other organizations plan, and reach, their financial goals. CPAs are multi-talented professionals who perform a mix of highly-specialized job functions including auditing, business and management consulting, international financial reporting, and tax advisory services.

Almost every business encounters a financial situation at some point when it could benefit from the services of a CPA. In addition, CNNMoney.com, which ranks the “hottest” jobs based on “great pay and superior growth prospects” and “work that's meaningful,” puts CPA as number six on its top-ten list. If these reasons are not enough, here are a few more benefits of becoming a CPA:

Opportunity
According to the AICPA, 75 percent of today’s CPAs—by and large the baby boomers—will be retiring within the next 15 years. As they leave full-time active practice, the demand for qualified CPAs to fill the ranks will continue to increase. A side effect of an aging population in general is an increased need for CPAs to assist in retirement planning.

Recognition
Being a CPA means you invested time and energy into becoming among the most educated in your profession. Along with MDs, PhDs, and JDs, the CPA designation is recognized as a mark of excellence and accomplishment. Current pass rates for the CPA exam suggest it is one of the most difficult professional licensure exams in the U.S.

Advancement
There are some positions - such as auditor – where a CPA is a must for advancement. Without it, you might be limited to staff-level jobs supervised by a CPA. This becomes even more important as professionals, throughout their careers, look to climb the corporate ladder in the accounting and finance vertical.

Earning Power
According to Beck Professional Education over the course of a 40-year career, a CPA can earn as much as $1 million more than a non-certified accountant.

With so many advantages, and no end in sight on the demand for CPAs, consider this important designation as you plan your career future.

CPA Benefits

Digitalization of Finance

By the year 2020, an entire generation, Generation C (for “connected”), will have grown up in a primarily digital world. Computers, the Internet, mobile phones, texting, social networking — all are second nature to members of this group. Their reliance on technology, and increasing demands for things that are fast, easy, and mobile is driving a movement toward digitalization.

Digitization is the process of converting information of any type into a digital format. Digitizing information makes it easier to preserve, access, and share. Once information is digital it can help automate processes and systems that were previously manual or in-person.

The experts at PwC believe that digitalization will reach a high point in the next few years due to three significant forces:

Consumer Pull: Consumers, and particularly Generation C, are already fully adapted to the digital environment. They naturally expect to always be connected, willing to share personal data, and are more likely to trust referrals from their closest friends than well-known brands.

Technology Push: Digital technology continues to expand its influence. The infrastructure backbone of the digital world is bringing affordable broadband to billions of consumers. In parallel, low-cost connected devices are being deployed in every industry, and cloud computing, and the vast information- processing machinery it requires, is developing quickly.

Economic Benefits: The economic benefits captured through digitization are real. A wave of capital has poured into the new digitization technologies and companies, and the public markets reward early movers with unprecedented valuations.

Digitalization is extremely important within financial units. Historically, the finance and accounting teams have been early adopters of technological tools because they already rely on high-level IT to optimize business processes and interactions.

Organizations with strong financial leadership are investing in digital capabilities to meet both compliance and strategic initiatives. More and more CFOs are turning toward digitization, not only as a means to increase cost-effectiveness and efficiency in operations, but also as a platform to develop additional high-margin products and services.

Firms on the leading edge of the digitized trend reap benefits including greater customer insight and reach, higher productivity, and the creation of new business models.

Digitalization of Finance

Informational Interviews

Job seekers and employers throw out the option of an “informational interview” all the time. But, what does that really mean? And, more importantly, do they really accomplish anything?

For starters just by setting up informational interviews you are expanding your network. Reach out to colleagues, friends, managers, professors; ask them to help you set an informational interview with someone in their network. The more people you meet the more chances you have to expand your career goals, and have people to whom you can actually connect professionally. People want to help, and in the future you will want to return the favor to those contacts or a new contact.

The process of informational interviewing will expand your network and give you some real interviewing practice, as well as give you a lot of information you can use in achieving your job goals.

  • Are you thinking of changing fields? What better way to learn the realities of a new business role than from someone who actually lives it?
  • Company culture is probably the number one source of work satisfaction. An informational interview is an excellent way to glean evidence of the daily flavor of an organization. Is it silent and everyone working intently at their desk? Is it chatty and noisy? Is the office environment loose or regimented? Are people smiling? Observe and learn all you can to decide if a particular company is a place you’d fit and want to spend the major portion of each day. Keep culture top of mind as you continue to weigh your options.
  • Informational interviews are a great way to stay connected to your industry, and within your industry. Speaking to people within your industry of choice keeps you up-to-date and in-the-know on what’s happening at specific companies and your industry as a whole. You’ll be well-versed when you have your next job interview.
  • Be prepared. Educate yourself about the company and person you are meeting. Have a list of questions or topics you’d like to discuss - and be prepared to talk about your background and career goals. Always bring your resume - however, only offer it if it is requested.

Informational interviews offer much you can use to your advantage as you plan your next career move and expand your professional network. Be gracious. People are giving you their time and insight: Use it wisely, send a thank you note, and pay-it forward.

Informational Interviews