stereotypes of accountants…. the typical accountant is a man, past middle age, spare, wrinkled,...
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The typical accountant is a man, past middle age, spare, wrinkled, intelligent, cold, passive, non-committal, with eyes like a cod-fish; polite in contact but at the same time unresponsive, calm and damnably composed as a concrete post or a plaster of Paris cast; a petrification with a heart of feldspar and without charm of the friendly germ, minus bowels, passion or a sense of humor. Happily they never reproduce
and all of them finally go to Hell.[Attributed to Elbert Hubbard]
Carl T. Berquist
Executive Vice President and Chief Financial Officer of Marriott International, Inc., with responsibility for global finance, including financial reporting, project finance, global treasury, corporate tax, internal auti, and investor relations. His previous role was Executive Vice President of Financial Information and Enterprise Risk Management.
Prior to joining Marriott in December 2002, Mr. Berquist was a partner at Arthur Andersen LLP. During his 28-year career with Arthur Andersen, Mr. Berquist held numerous leadership positions covering the management of the business as well as market facing operational roles, including managing partner of the worldwide real estate and hospitality practice.
Mr. Berquist hold a B.S. in Accounting from Penn State University and is a member of Penn State’s Smeal College of Business’ Board of Visitors. He is also a member of the Board of Directors of Hertz Global Holdings, Inc.
Toni Pergolin, CPA
President and Chief Executive
She is responsible for all the organization’s programs and services, including four major campuses, three special-education schools, multiple vocational and day programs for adults, and 190-plus Bancroft-run homes and apartments in the community.
Under Ms. Pergolin’s leadership, Bancroft has expanded its services from Southern New Jersey to Pennsylvania and Central New Jersey. The organization also has increased its consultation services for school districts, other agencies and professionals, as well as its in-home services – enabling Bancroft to improve the lives of many more people with disabilities.
She is a member of the Forum of Executive Women, and has been named one of the Philadelphia Business Journal’s “Women of Distinction”.
Ms. Pergolin has received her undergraduate degree in accounting from Penn State and her master’s in health administration from Saint Joseph’s University. A certified public accountant, Ms. Pergolin resides in King of Prussia, PA, with her husband and two sons.
John P. Surma
Chairman and Chief Executive Officer
John P. Surma was born in Pittsburgh, PA, in 1954. He graduated from Pennsylvania State University in 1976 with a B.S. degree in Accounting.
Mr. Surma joined Price Waterhouse LLP in 1976, and in 1981 he served in the Manchester, England, office of the Price Waterhouse United Kingdom firm. In 1987, he was admitted to the partnership.
He became Vice Chairman and Chief Financial Officer of United State Steel Corporation on January 1, 2002. He was named President in March 2003, and president and Chief Operating Officer in June 2003. He was elected President and Chief Executive Officer in 2004, and Chairman of the Board of Directors and Chief Executive Officer in February 2006.
Mr. Surma is a member of many boards of directors. He is Vice Chairman of Penn State University’s Board of Trustees and a member of its Smeal College of Business Board of Visitors.
What Do Graduates Do?
Corporate AccountingNot-for-profit AccountingGovernmentLaw EnforcementEntrepreneurship(More) Graduate SchoolConsultingPublic Accounting (Assurance, Advisory, Tax)
Corporate and NFP Accounting
Example Companies: Johnson & Johnson, IBM, US Steel, Marriott, Bancroft…
Types of Jobs: Financial Analyst, Budget Analyst, Cost Analyst, Cost Accounting, Internal Audit
Progress towards: CAO, Controller, CFO, & CEO
Entrepreneurship
Accounting provides a great background – you will understand cost and revenue drivers, accounting information systems, business planning and control, taxation, legal structures, etc.
Additional specialized expertise in a specific field acquired by through other studies or work experience is often useful.
Public Accounting and Consulting
Become a CPA and join a broad-ranging, prestigious, licensed profession
Must satisfy the “150 credit-hour” requirement
Get there with Penn State’s One-Year Master of Accounting (MAcc) Program
Accounting
It is not math – it is arithmetic, some algebra, and a LOT of communication.
Measurement is challenging and interesting.
It is the language of business.
It requires the discipline to study and work honestly, accurately, and steadily
Three Programs – Many Career Paths
Bachelor of Science in Accounting
Integrated Master of Accounting
One-Year Master of Accounting
Bachelor of Science in Accounting
Required Accounting Courses ACCTG 403w: Auditing ACCTG 404: Managerial Accounting ACCTG 405: Principles of Taxation ACCTG 471: Intermediate Accounting I ACCTG 472: Intermediate Accounting II
Electives (Choose Two) ACCTG 406: Advanced Taxation ACCTG 432: Accounting Information Systems ACCTG 473: Advanced Intermediate Accounting ACCTG 481: Financial Statement Analysis ACCTG 483: Forensic Accounting
The MAcc Degree
30 additional credit hours designed to meet the 150 credit-hour requirement in most states
Integrated MAcc
Application for current sophomores majoring in accounting or finance available now
Features Mixture of graduate and undergraduate courses over
the junior, senior, and 5th year Opportunity to complete an internship Study-abroad is possible Graduate with both a Bachelor and Master degrees,
meet the 150 credit-hour requirement, be ready to sit for the CPA Exam.
Graduate GPA must exceed 3.0
Undergraduate Degree + One-Year MAcc
5 Years, 2 DegreesPrerequisites: ACCTG 211, 403w, 404, 405,
471, and 472 (or equivalent)A program, not a collection of coursesDedicated course sections, including
communications and financeMeaningful networking and professional
development opportunitiesBuilt-in internships
Placement
Major recruiters Public Accounting Firms, Investment Banks, Industry
Representative Firms Deloitte, Grant Thornton, E&Y, KPMG, PwC
Rough Starting Salary Ranges $45k-$60k
Work Environment
How many of the major accounting firms were listed in Fortune Magazine’s 2010 100 Best Companies to Work For?
Build Human Capital
How many public accounting firms were rated in the top 5 in Business Week’s 2009 Best Places to Launch a Career survey?
Not All Accountants are CPAs
Some are Certified Management Accountants, CMAs.
Some are Certified Internal Auditors, CIAs.
Many post-graduation specializations are possible.
Some accountants have no professional certifications.
All Accounting Programs
Networking & Professional Development Gaining employment is a process Networking early on is critical to the process Program provides some solid networking
opportunities with prospective employers, building on existing strong relationships of Smeal and other MAcc students
Accounting Student Organizations
Accounting Society http://www.clubs.psu.edu/up/accounting
Beta Alpha Psi http://www.clubs.psu.edu/up/bap
Master of Accounting Program Student Association (MPSA) http://www.clubs.psu.edu/up/mpsa/MAcc
Internships are Highly Recommended
Public accounting and corporate internships are possible and desirable
Internships vary by program generally in spring sometimes in summer
There is no guarantee of an internship
Tuition
Bachelor degree and Integrated MAcc Programs: In-state or out-of-state tuition depending upon your
situation One-time $750 tuition differential fee for Integrated
MAcc Program students due in the fall of the 5th year.
One-Year MAcc: $30,000