PUBLIC ACCOUNTING
Public accounting is the area of the profession that receives the most attention from the press, regulators, and students. It is an excellent first step in a career because CPA firms offer high quality continuing education and exposure to many different companies in various industries.National CPA firms as well as local public accounting firms recruit ECSU students. Most national firms will only hire applicants who will have earned 150 semester hours of college credit by graduation. Those employed by national firms tend to specialize and to travel frequently. National firms perform audits of publicly owned corporations and provide management consulting services.
Local firms, on the other hand, are primarily concerned with income tax preparation, providing services to small businesses, and performing audits of local government units. Members of local CPA firms build their practice through community service and involvement in public activities.
In the long run, employment in local CPA firms can be just as lucrative as working for national CPA firms. Many alumni are represented in area CPA firms, but many others find employment outside of Northeastern North Carolina.
Students who are interested in a career in public accounting are expected to prepare for the Uniform CPA Exam as an extension of their college experience. College curriculums are designed to provide a strong foundation of technical accounting knowledge, broad business concepts, and communication skills. However the topics tested on the Uniform CPA Exam are more extensive than coverage even in a masters college degree program.
Several companies publish self study materials to provide guidance and various companies offer CPA review courses
(SCROLL DOWN FOR LINKS FOR INFORMATION ABOUT CPA EXAM)
In any case, preparation for the Uniform CPA Exam requires an hour or more of study every night for three to four months.
The Uniform CPA Exam is given twice a year in a limited number of locations in each state. In North Carolina students who are within 90 days of their graduation date may sit for the exam, but waiting until the November after graduation is highly advised.
For CPA licensure, North Carolina also requires at least one years of experience in public accounting, or four years of experience in other specified capacities (Click on CPA REQUIREMENTS). CPA candidates may earn the experience while studying and sitting for the CPA Exam. Also North Carolina candidates must either pass the state ethics exam or must attend a workshop dealing with state statutes and regulations.
Over 38 states (including North Carolina) require 150 semester hours of college education before licensure as a Certified Public Accountant. However unlike other states, CPA candidates in North Carolina who have completed a BS Degree in Accounting will be allowed to sit for the Uniform CPA Exam BEFORE attaining the 150 semester hours of college credit.
After graduation and while fulfilling the experience requirement, CPA candidates in N.C. will then be allowed to take additional college courses. A master's degree is NOT required in North Carolina, though a few states do require a graduate degree.
Students who take a maximum load of 18 hours for 8 semesters (four years) will have earned 144 semester hours (just short of the 150 hour requirement). By taking an overload (21 semester hours) for two semesters or by taking a summer internship for credit, students can even completely fulfill the 150 hour requirement during their four years of studies at ECSU.
Students who are interested in a career in public accounting are encouraged to complete as many semester hours as possible consistent with maintaining a high grade point average. Many accounting students pursue a double major in business administration and accounting since they need to earn additional semester hours of college credit anyway. National CPA Firms will only hire those who have completed 150 semester hours by graduation.
