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Exploring Public Accounting Choices in Missouri

Discover the diverse services rendered by public accountants at reputable CPA firms, explore the requirements to become a CPA in Missouri, and learn about the Big Four and other prominent firms in the state. Find out the advantages of working in public accounting, internship opportunities, and insights into choosing between tax and audit specialties. Benefit from understanding the different paths in the audit profession and the varied career trajectories for tax professionals.

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Exploring Public Accounting Choices in Missouri

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  1. An Overview of Public Accounting Dr. Alan Davis and Dr. Keith Harrison

  2. Services Provided by Public Accountants at CPA firms • Tax • Audit • Advisory Services

  3. Requirements to obtain a CPA in Missouri • 150 Hours Semester Hours • Passing Four Exams (75% is the passing rate): • Financial • Audit • Regulation • Business • Pass the Online Ethics Exam • One Year of General Experience

  4. Public Accounting Firms The Big Four Other Firms in MO • PwC • Deloitte • Ernst and Young • KPMG • Anders • BKD • Brown Smith Wallace • Grant Thornton • Kerber, Eck, and Braeckel • Mayer Hoffman McCann • McGladrey • Rubin Brown • UHY • Williams Keepers LLC

  5. The Benefits of Working in Public Accounting • Learning Experience • Working with a large variety of clients • Ability to “work your way up” • Manager • Senior Manager • Partner • Great asset to your résumé • Will open a lot of doors if you want to eventually move to private accounting

  6. Internships • Apply for Leadership Programs in the Spring of your Sophomore/Junior year • Gain insight about the different firms and learn more about the differences between tax and audit • Apply for Internships the fall of your Junior/Senior year • If it is a tax internship, be sure to talk with the auditors at the firm during your time there • Likewise if it is an audit internship

  7. Choosing Between Tax and Audit

  8. Benefits of Tax • Everybody loves the tax accountant as she is there to help them save money on their taxes. • Audit: Employees of the client view you with suspicion – at worst you are trying to catch them doing something wrong – at best you are a disruption of their normal daily routine.

  9. Benefits of Tax (Cont.) • Being a tax accountant is as close as one can get to the practice of law without actually going to law school. • Auditors have to maintain neutrality and independence while tax accountants can become an advocate for the client.

  10. Benefits of Tax (Cont.) • Auditors travel a lot and often don’t have an assigned desk in the office • Tax has more daily variety as you will work on numerous clients in one day while auditors spend weeks working on the same client

  11. Benefits of Audit • Get to visit all of the hot spots: Mexico, MO, Poplar Bluff, Chesterfield, Liberty, MO, Lawrence, KS • As well as some genuinely exciting places: Chicago, Manhattan (NY, not KS), London, England

  12. Different clients-different issues • Both audit and tax work with a lot of clients and each will have unique issues • Tax professionals get to help clients solve problems and develop effective tax strategies • Audit professionals help clients protect their assets and raise capital to start new ventures

  13. Audit path-variations • Not all auditors work in public accounting • Internal auditors • Government auditors • Many auditors will move to industry to work as Asst. Controllers, Controllers, Vice president-finance • Not all tax professionals work in public accounting • Many will start there and move to corporate tax departments

  14. Personality Environment • Choose Tax if you like going to the same place each morning and having your own desk • Choose Audit if you like the idea of traveling and working on one project at a time • Also, evaluate the work that each do and what fits your interests and learning style

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