Catapult Your Career - Get Experience, Network with CPAs
The MACPA offers several opportunities for students to get involved, allowing you to meet CPAs and other accounting professionals that can offer guidance and to get on track for finding a job quickly upon graduation. The MACPA encourages students to participate in the same programs as our members that are currently working professionals – giving you the opportunity to meet and learn from them. And who knows, one of them could be a potential future employer!

MACPA Accounting Blitzes The MACPA Accounting Blitzes are a program in which MACPA members visit Michigan schools (kindergarten through eighth grade), equipped with lesson plans prepared by Junior Achievement (JA), to teach students business basics. Participating in this program offers several benefits. First of all, the students attending the program get excited about a student (YOU!) teaching them and you may encourage young children to pursue a CPA career as well. Secondly, you’ll be volunteering side by side with CPAs and other accounting professionals, giving you the opportunity to utilize your networking skills! And finally, this is a fun program to participate in! Volunteers really enjoy teaching the students as the students are very receptive to the lesson plans and activities you do with them. Contact Michelle Mohan for more information. Task Forces Participation in an MACPA Task Force can open the doors to several opportunities for you. We have a number of task forces – over forty – so you can choose to work on a task force that relates to what you’re studying or something of interest to you. You’ll be able to voice your opinion and have an influence on the direction of MACPA activities. As you attend task force meetings, you’ll get to know others serving on the task force which could open up several doors for you as you venture out into the career world. Contact Katie Dudek for more information.

Return to Top

Have a CPA Visit Your Beta Alpha Psi or Accounting Club
Spice up your next Beta Alpha Psi/Accounting Club meeting by having a CPA or accounting professional speak to the group! The MACPA will arrange for one of their members to come speak to your group on a topic of your choice, or one determined by the speaker. If you’d like the MACPA to set up a visit from a CPA/accounting professional for your next meeting, contact Kristen Benvenuti.
Return to Top

CPA Exam: One Year Down, Improvements to Come
The Computerized CPA Exam has now seen its first year of existence. According to Gregory Johnson, Director of the CPA Examination, the CPA Exam is now entering the “era of improvement and innovation.” Johnson said they’re looking into the CPA exam to address what improvements need to be made. Some improvements have already been made – for example, accelerated score reporting debuted with those taking the exam in the July/August 2005 testing window. Another goal of the CPA Exam team is to increase the number of candidates taking the exam. That’s where you come in! The benefits and advantages the CPA credential gives you are well worth taking the time to prepare for and take the exam. The CPA Exam web site offers tools and resources so you can ensure you’re fully prepared when taking the exam. The MACPA also has links to several CPA Exam review courses and materials on their web site – some available at a discount to members!
Return to Top

Minority Scholarship Available from National Association of Black Accountants
The Detroit Chapter of the National Association of Black Accountants (NABA) is offering a minority scholarship to NABA members of an ethnic minority. If you are not currently a member, you can visit the NABA web site for a membership application – to be eligible for the scholarship a dues payment of $20 is due by March 31, which is also the scholarship deadline. Other criteria for the scholarship are a minimum 3.0 on a 4.0 grade scale and that the applicant is either a full-time high school or college student. Download the Scholarship Application and Instructions for further details and to apply.
Return to Top

Interview Insights: Be Equipped with a Weakness
It’s extremely important to make sure you’re prepared before heading into an interview. One thing to prepare for is to be able to identify a weakness or two you possess. That’s right – a weakness. Employers often ask you what your professional strengths and weaknesses are, and you need to be ready with an answer! You don’t want to stumble (though it’s okay to pause and take a moment to gather your thoughts) on your answer. Better yet, if you can work the weakness in before the question is even asked, it may help you get the job by differentiating you from other candidates who talk themselves up. Though, that’s not to say you don’t want to mention your successes as well!
Return to Top

Have a Question Relating to Your Future Profession? Ask a CPA!
The MACPA invites you to submit any questions you may have regarding your future career, the CPA exam, what your potential job will be like – anything you want to know about that relates to your future profession as a CPA or accounting professional. The questions will be answered by MACPA members and published in an upcoming issue of Student E-News. If you’d like to submit a question, please e-mail it to Kristen Benvenuti. Look out for future issues of Student E-News to get the answers to the questions you’ve always wanted to ask!
Return to Top

Advice From a Professional
John P. Manilla, CDP, CPA
Part-owner & Vice President of Nutech Systems, a barcode/RFID solution provider
B.S. in Accountancy and B.S. in Computer Information Systems, Ferris State University; Currently pursuing Master’s degree in Computer Information Systems,
Grand Valley State University
19 years in the profession

CPA John Manilla said two things led him down the path to becoming a CPA: “The number of successful business owners I talked with that started as accountants was impressive to me,” and, “After starting my first job upon graduation, I saw how many doors of opportunity opened for business people that either were CPA’s in public practice or once had been CPA’s in public practice.”

Benefits of Being a CPA, According to Manilla CPAs… possess a strong knowledge of the building blocks of business have the respect of the business community have the ability to earn better than average household income have access to a network of successful business people belong to a profession that encourages life-long learning “Many doors of opportunity are open to people that are CPAs,” Manilla said. “When working through business transactions, a person who has a CPA has immediate credibility with others.” Manilla’s Advice for Students Studying to Be CPAs Manilla said having his degree in accounting was critical in landing his first job in the CPA firm, as well as in taking and passing the CPA exam. He says this to students studying to be CPAs: “Work hard, study, go to class. Do not lose site of your goal while working through all the many classes you must successfully complete. Remember the course you may be in right now, that you do not necessarily like, is only a small part of the total picture. Also, remember to socialize and enjoy yourself. Your social skills are as important as the knowledge you are building.” For those studying to take the exam, Manilla recommends a CPA review course as those will properly prepare students for the exam. “While working on your education, you may also want to look at an additional degree that you can combine with accounting that will put you in a very competitive position in the workforce,” Manilla advises. “In my case, I combined accounting with computers. You could look at a law degree, engineering degree, etc. Everyone I have met that has done this successfully is in a key leadership role in the business they are working in. And in many cases, they own the business they are working in.” Manilla on the Importance of Licensure Manilla highly recommends students obtain their CPA license. “If you want to be a business leader in any role, obtaining a CPA license will carry a lot of weight,” he noted. “Your knowledge and exposure to many different businesses will help to shape your abilities in solving problems and having good ideas on how to streamline operations.” A Final Note from Manilla “Do not let the conservativeness of the CPA profession stand in your way,” he said. “Be aggressive. Surround yourself with successful people that can help you where you are weak and complement them by helping them where they are weak and you are strong.”

Return to Top

CPA Beat: Stay Apprised of Changes in CPA Profession; A Fellow Student Member’s Perspective on International Accounting Standards
By Doreen Zwemer, MACPA Student Member, University of Maryland University College
The need for international accounting standards has recently been brought to light. In the past, U.S. Generally Accepted Accounting Principles (GAAP) have been viewed as a fairly high standard, one which offers few alternatives to reporting various items. While there are a number of similarities between U.S. GAAP and the GAAP reporting standards of other nations, there are enough differences to make a one-to-one translation of the financial statements unlikely. This is cause for concern since businesses function on an international level and there has to be a certainty that revenue is recognized in a similar fashion across countries that have business interactions. As a result, there has been a push toward international convergence of standards. While commendable, this transition carries with it concerns over the process of how this can be accomplished.

There is concern over standards convergence from the International Accounting Standards Board (IASB). The IASB is a privately funded accounting standard-setter. It is based in London and has been called the “international arena’s” equivalent of the Financial Accounting Standards Board (FASB). The FASB has stated they are involved with the convergence issue. In fact, they have formed partnerships with the IASB and national standard setters. The goal is to increase the international comparability and the quality of standards used in the United States. Convergence is more involved than simply combining the ideas of U.S. GAAP and the International Financial Reporting Standards (IFRS). In fact, there has been a great deal of regulatory and legislative changes in the markets. These recent changes serve to slow the process of convergence. Since financial reporting is not a stagnant issue, standard setters must be aware of the changes that are continually taking place in order to make significant strides toward convergence.
Return to Top