Those of you who are still on the fence about pursuing a professional accounting certification should, if for no other reason, consider getting your CPA or CMA or both because of this: more money. The Institute of Management Accountants polled its U.S. membership last September for its 2021 U.S. Salary Survey. Of the 1,300 or […]
Not that he would really say anything bad about management accountants since he was at the Institute of Management Accountants’ annual conference, but Securities and Exchange Commission Chief Accountant Wesley Bricker threw some bouquets their way during a speech on June 19. From Accounting Today: “As management accountants, your work is vital to the financial […]
In Compliance Week, Tammy Whitehouse reports on a revised “Statement of Ethical Professional Practice” from the Institute of Management Accountants. Why was a revision necessary? To keep up with technology, maybe? Perhaps to establish some rules for all the robots? Nope! They had to revise it because a fair number of you are a bunch […]
Ever since the CGMA hit the scene, we've all been subjected to the campaign blitz by the AICPA and CIMA to convince everyone that the CGMA is the fairest management accounting credential in all the land. It was cute in those early days because you could mail in a form, pay a fee and get […]
The Institute of Management Accountants salary survey came out yesterday, and you should check it out if you're into that sort of thing. Quickly while we're on the topic of salary, consider this your friendly reminder that the Going Concern Compensation Survey is still open and it would be great if you can take a […]
Oh look, the AICPA put out a press release that says the Chartered Global Management Accountant designation is the "most prominent management accounting credential in the U.S. with 37,864 CFOs, controllers and other finance professionals holding the designation." Plus, it's managed to its way into some of the most prestigious companies in America! U.S. CGMA […]
Have you struggled to pass a certification exam? Is your reaction to colleagues that place various three-lettered credentials behind their name on their résumés a resounding "Meh"? Not too hung up on money? Great! You won't be bothered by this at all: The average reported salary of IMA members surveyed was $109,001 in 2011, down […]
Did you all remember that the Chartered Global Management Accountant designation was kicking off today? No? Shame. For those of you that crave letters behind your name like stoners crave Cool Ranch Doritos, this is EXCITING NEWS, especially if you already have your CPA. Why's that you ask? Because, says the rival Institute of Management […]
The following post is republished from AccountingWEB, a source of accounting news, information, tips, tools, resources and insight — everything you need to help you prosper and enjoy the accounting profession.
In my experience, the most important thing you need to consider when looking for a job in the U.S. as a foreigner is how to work here legally. International students looking for part-time work are allowed to work no more than 20 hours a week to maintain F-1 visa. After graduation, to stay in the United States, one must find an employer willing to sponsor your working visa (called an H-1B visa).
I came to the U.S. last August from China, and am enrolled in a master of accounting program at George Washington University in Washington, DC. Like other international students in a completely new place, I initially felt hopeless as to where to start my job search. I began searching recruiting websites, but found that these websites aren’t as helpful for students without experience.
Another method I tried was to take advantage of all the resources my school offered, including a career center. These often offer more entry-level opportunities. You can often find networking opportunities through career centers as well.
I was honored to act as the president of the student chapter of IMA® at my university in my first semester and actively took part in the events held by the local professional chapter every month. During this time, I not only got to know some professionals but also got an understanding about business culture in the U.S. – a great help in my job hunting.
In my second semester, I secured my first unpaid internship with a nonprofit organization located in Washington, DC. At the same time, I volunteered to help prepare tax returns. These experiences helped build up my résumé and enhanced my communication skills. Likewise, for those international students who do not have any working experience, it might be a good start to focus on volunteer opportunities and unpaid internships. Nonprofit and international institutions are more willing to sponsor foreign students since they know the process quite well. For those who work in companies that are hesitant to sponsor your working visa, try talking with your supervisor or the HR department to explain that the visa sponsorship process is simple.
This past summer, through on-campus recruiting, I was offered a challenging internship with a government contractor. After spending the summer there, I gained a deeper understanding of accounting issues on daily basis and had more responsibilities.
In addition to adding professional experience to my résumé, I was also looking to strengthen my academic background and social skills, which included passing the CMA® exam and becoming more involved with IMA. I will also attend the 11th annual IMA Student Leadership Conference in California this November. Currently, I am working as an intern at a financial institution which has relationships with banks in China. In addition to assuming some financial and accounting responsibilities, I will also be involved in projects aimed at the Chinese market.
Thanks to my former experience, I got used to my new position quickly and was able to perform my work with minimal supervision. The company even expressed their willingness to sponsor me for the H-1B when I graduate. This shows how it is very useful to rely on your educational and professional background and seek out job opportunities with links to your home country.
PwC To Provide Up To $12.5M To JPMorgan For FSA Fine [Dow Jones]
“J.P. Morgan Chase & Co. (JPM) disclosed in a regulatory filing Friday that PricewaterhouseCoopers LLP agreed to provide up to an aggregate of $12.5 million to the bank related to a fine J.P. Morgan had to pay to the U.K. Financial Services Authority.”
Late Ponzi schemer’s accountant surrenders license [Nashville Business Journal]
This accountant managed to surrender his CPA in just under four months for his role in a Ponzi scheme. Dave Friehling had to be stripped of his license nearly 9 months after pleading guilty. NY DoE should get with Tennessee and see how they do things.
IRS to stay at new Austin site after plane crash [AP]
“An Internal Revenue Service office will not return to the Texas building where a tax protester killed himself by crashing his plane into the structure.
IRS spokeswoman Lea Crusberg said Thursday that the agency has signed a two-year lease on another office space in Austin. She declined to identify the location.”
Senate Democrats Propose Scaling Back IRS Reporting Law [WSJ]
“The Nelson proposal would exempt from the reporting rules firms with fewer than 25 employees. For larger businesses, it would require information returns only in cases where payments to a single vendor exceeded $5,000 in a given year—down from $600 in the health-care law.”
Richtermeyer to Chair Management Accountants [Web CPA]
“The Institute of Management Accountants has named accounting professor Sandra Richtermeyer as the chair of its board of directors for the 2010-2011 fiscal year.
Richtermeyer, who also chairs the Department of Accountancy in the Williams College of Business at Xavier University in Cincinnati, is only the fourth woman ever to hold the position of IMA chair since the organization’s inception in 1919.”
BKD looks to grow health care practice with purchase of Grant Thornton team [Wichita Business Journal (partial subscription required)]
According to the message sent from Stephen Chipman, that we reported on at the end of July, this is the final transition that Grant Thornton will be making. What happens from here is anyone’s guess.
Rangel Is in Talks to End Ethics Case [WSJ]
“Negotiations between lawyers for Rep. Charles Rangel (D., N.Y.) and House ethics investigators continued on the eve of a public hearing Thursday that was expected to lay out the charges aga ethics panel announced last week its plans to present a case against Mr. Rangel, his lawyers have been in private discussions about a possible settlement to avoid a hearing. A central issue is the wording of the House ethics panel’s findings about Mr. Rangel’s alleged ethics violations, according to a person familiar with the case.”
Audit reveals billions of dollars of Iraqi oil funds gone missing [Guardian]
Hard to believe that there would be trouble tracking the money over there, “The US department of defence has called in forensic accountants to help track $8.1bn (£5.2bn) of $9.1bn in Iraq’s oil revenue entrusted to it after the fall of Baghdad, following an official audit that revealed the money was missing.
The funds were to be used for spending on reconstruction during 2004-07, a period when Iraq was under weak transitional rule.
The report was issued today by the Special Inspector General for Iraq Reconstruction, which had previously criticised poor book-keeping by senior officials throughout the last seven years.”
Fannie Mae, Freddie Mac Still Too Big to Nail [Jonathan Weil/Bloomberg]
“This month Congress passed the 2,323- page Dodd-Frank Act without any clear understanding of why the financial crisis happened — and without doing a thing to address Fannie and Freddie, which were central players. Now the Obama administration says it will deliver a reform proposal to Congress by January on the nation’s housing-finance system, including Fannie and Freddie. Yet the government still hasn’t undertaken any comprehensive inquiry into why these companies blew up and who was at fault.”
IMA Launches New Website to Support Accounting Community [Business Wire]
“IMA™, the association for accountants and financial professionals in business, unveiled [Wednesday] its new website, now making it even easier for professionals to experience IMA’s range of valuable resources and services. The website can be accessed at www.imanet.org.”
How to Get a Job in Financial Regulation [FINS]
The SEC, FDIC and CFTC are all hiring in the wake of Dodd-Frank. But landing a gig with the Feds isn’t like landing a job anywhere else. FINS breaks it down for you.
George Carlin Never Would’ve Cut It at the New Goldman Sachs [WSJ]
What’s next? They take your will to live? “The New York company is telling employees that they will no longer be able to get away with profanity in electronic messages. That means all 34,000 traders, investment bankers and other Goldman employees must restrain themselves from using a vast vocabulary of oft-used dirty words on Wall Street, including the six-letter expletive that came back to haunt the company at a Senate hearing in April.”
Alex Rodriguez Objects to Rangers Bankruptcy Plan [Bloomberg]
Chances are, A-Rod doesn’t know the particulars but he would like the $24.9 million he’s owed.