Frequently Asked Questions from Future CPAs

Do CPAs need background in a foreign language?

If you are interested in working overseas, or working for a company with international divisions, it would certainly be beneficial to you, but not essential for an excellent accounting career.

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What are the top benefits of an accounting career?

An accounting career is a highly respected profession. Although the stereotype may seem otherwise, accounting is a very people-oriented profession. If you like working with people, accounting may be for you.

Another benefit is the high income potential. With the CPA designation behind your name, salaries are really limitless and you can lead a very comfortable lifestyle.

Overall, the biggest benefits are the opportunities that exist for CPAs. There are many different lines of work that will hire someone who is a CPA. It is a great base for almost anything you do in life.

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If you are a tax accountant, how do you fill your days when you are not preparing returns?

Tax accountants, either sole proprietors or firm employees, have more than just the role of tax preparer. On an ongoing basis, clients need tax consulting, whether it be paying quarterly estimates, or a question on how a business decision will affect their taxable income. Also, with preparing returns for individuals as well as corporations, CPAs deal with the IRS and the State Revenue Department with audits and other matters. Lastly, tax accountants handle individual, business, estate and succession planning for their clients all year long. The longest hours are from February through April, however, the work doesn't die…there are always other projects, including consulting and extensions!

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Are there any courses to help study for the CPA Exam?

Yes. There are a number of CPA study courses available that can fit your individual needs and schedule. Visit our CPA Exam page for details.

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What is good major or minor to take along with accounting?

Due to the requirement of 150 credits in order to sit for the CPA exam, we are finding students who complete their business administration degree in accounting and then complete the remaining 30 credits in whatever they wish. Many employers look for candidates who take courses that will be useful with accounting. These courses include an internship for credits, public speaking, human resources, finance, marketing, or other business courses that could be helpful once in the workforce. Due the 150 credit requirement, many students use the remaining 30 credits to get a minor in a related business field.

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Does a CPA license in Wisconsin transfer to other states? 

Because Wisconsin now has some of the most stringent requirements (150 credits, work experience, etc.), a CPA licensure in Wisconsin basically transfers to another state without much more than getting an updated license after filling out a form and paying an additional fee, per state. Due to every state having its own requirements, it's still a good idea to consult with the individual state's Board of Accountancy to make sure, depending on where you’d like to work.

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What role does the prestige of a school play in obtaining a job?

The answer to this question could be different depending on if you are going into public accounting or another area. I work for a locally owned public accounting firm in Milwaukee. Our firm recruits at three main Wisconsin schools; UW-Whitewater, UW-Milwaukee, and Marquette University. Many of the larger firms recruit at these schools as well as UW-Madison. The prestige of the accounting program at a particular school is usually more important than the prestige of the school itself.

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What are some things, other than grades, that employers look for?

An accounting degree is great, it opens up the door to a ton of work opportunities after graduation; however, keep in mind there is more that an employer looks for. As an active member of our recruiting team, we look at communication skills, involvement in other activities/organizations, and internships more and more as a deciding factor if we are going to hire someone or not. Great grades help, trust me, but you have to be able to "talk the talk.”