Tax, Audit & Financial Reporting Tracks
Many students enter accounting graduate programs with plans to begin their careers in public accounting as auditors. Often this is because they have taken a number of financial reporting, systems and auditing courses. After they have the opportunity to learn about the numerous facets of Federal and state taxes, some shift their focus and decide to begin their careers in tax. Having an understanding of both audit and tax can often enhance a student’s ability to secure a role at their first-choice firm, and position them for greater success over the course of their career. -Will Meconi, Partner, RSM US LLP
U.S. and International Reporting Standards
International Financial Reporting Standards (IFRS) are required for most listed companies in approximately 115 countries around the globe and many countries require or permit the use of IFRS for non-public companies. U.S. GAAP and IFRS reporters are approximately equal if measured on the basis of a global market capitalization perspective and it appears that U.S. GAAP and IFRS will co-exist. It’s likely that U.S. accountants in the course of their careers will be exposed to both U.S. GAAP and IFRS for a variety of reasons. Therefore, it is beneficial for students to have an understanding of both IFRS and U.S. GAAP. -Dr. Holger Erchinger*, Partner KPMG
Our firm’s client base is primarily privately-held companies and high net worth individuals. Providing quality tax, audit and accounting services is critical to our practice. A variety of Federal tax courses encourages students to appreciate the complexities and opportunities to serve clients through tax return preparation, tax research and tax planning. It opens them to the possibility of a career in tax, as well as giving them tax fundamentals should they pursue a career in audit or accounting. On the audit and accounting side of our practice there is the potential for multiple levels of service depending on the client’s needs. It can be as basic as a compilation or review to the highest level of audit service where the accountants observe, test, confirm and independently verify the client’s financial information. -Michael Keller, Partner, Gallagher, Flynn & Company, LLP, UVM School of Business '79
Effective communication, whether written or verbal, represents one of the most challenging areas an accountant will face during their professional career. Individuals must communicate highly complex topics both clearly and concisely to a variety of stakeholders. When performed effectively, both the accountant / stakeholder "trusted relationship" and efficiency within the company is maximized. If there is one skill a professional should continue to hone throughout their career above all others, it would be written and verbal communication. -Sean P. Riley, Partner - PricewaterhouseCoopers LLP
Holger Erchinger and Sean Riley are frequent speakers in the MAcc program. Will Meconi leads RSM US's recruiting efforts at UVM. Gallagher Flynn professionals take part in many MAcc career events.
*This represents the view of an individual and not necessarily the view of the firm.