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Volunteer and Help Save a Life - 2008 Race for the Cure®
The MACPA is encouraging all members, including studetns,
to help save a life by getting involved in the Race for the Cure®. Join the MACPA team as we race to fight breast cancer. The
17th Annual Komen Detroit Race for the Cure® will be on Saturday, May 31
beginning at Comerica Park in Detroit. This is the MACPA's fifth year
participating in the Race. It is easy to
register for the Race as a member of the MACPA team. For more
information, please contact Nicole
Shepard at 248.267.3700.
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CPA Financial Executives
Foresee Continuing Decline in Economy
Expectations for the U.S. economy turned sharply negative among senior-level
executive CPAs as the outlook for finance, real estate and retail trade
declined in the first quarter, according to the latest
Business and Industry Economic Outlook Survey of the AICPA and the
University of North Carolina’s Kenan-Flagler Business School. For the first
time since the AICPA survey began in December 2005, pessimists outnumbered
optimists and did so by nearly a five-to-one margin. The economy emerged as
the top issue facing lawmakers and U.S. presidential candidates. A 59
percent majority of CPA respondents said they were pessimistic or very
pessimistic about the economic outlook for the U.S. over the next 12 months.
Meanwhile the new survey found only 11 percent of CPAs in executive
positions expressed optimism about the economy.
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Interest Rates Drop
for the Second Quarter of 2008
The IRS announced March 3, 2008 that
interest rates will drop one percentage point for the quarter beginning
April 1, 2008. The interest rates announced in
Revenue Ruling 2008-10 are computed from the federal short-term rate
based on daily compounding determined during January 2008.
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Special Economic Stimulus Letters Reach Mailboxes in
March
More than 130 million American households will
begin receiving Internal Revenue Service letters this week reminding them to
file a 2007 tax return in order to receive a
2008 economic stimulus payment. The mailings by the IRS will continue
throughout the month. The informational notice, titled Economic Stimulus
Payment Notice, alerts people that they may be eligible for a one-time
stimulus payment of up to $600 ($1,200 married filing jointly) starting in
May. There also is a $300 per child payment for qualifying children younger
than 17.
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Advice From a
Professional
Amy Chandler, CPA
Tax Accountant
Zack and Chandler, CPA, PC
Years in profession: 11
Job security and employment opportunities were two of the reasons Amy
Chandler decided to become a CPA. She attended the University of Michigan
and earned a Bachelor’s degree in General Studies. She went on to attend
Walsh College where she earned a Master of Science degree in Professional
Accountancy. Chandler felt pursuing her master’s degree truly helped prepare
her for the CPA exam. “I feel that all but two of the classes that were
required for my accounting degree were essential for passing the CPA exam,
and for a career in public accounting,” Chandler said. Currently, she works
for Zack and Chandler, CPA, PC as a tax accountant. While she likes working
for a small firm because she gets a lot of flexibility, she misses being
involved in audits and reviews, which the firm she works for does not do.
Chandler’s recommendations for students pursuing their CPA designation
She suggests getting an internship in public accounting while still in
school and developing your networking skills. “Networking skills are very
important in job hunting, bringing in clients, and developing a pool of
other professionals to call for technical questions, referrals, etc,”
Chandler noted. She also mentions improving on communications skills,
especially in communicating financial information. “Clients tend to have
difficulty understanding financial and tax information, and it’s a must that
their accountants be able to make it understandable for them,” she said.
Plus, she suggests becoming comfortable with public speaking because
occasions will arise where you will need to speak to groups of people. She
said when studying for the CPA exam study every day and attend review
courses. She recommends the Walsh College CPA Exam review course.
Chandler on finding your first job after passing the CPA Exam
She said networking is paramount. “Ask friends, family members, friends of
family members, etc. if they know anybody to whom you can send your resume
and to whom they can put in a good word for you. The saying 'who you know is
more important than what you know' is so true in job hunting,” Chandler
said. “It also helps to get involved in groups in which accountants are
generally involved, in order to make contacts that can help you find your
desired job. A great example is the MACPA’s New Professionals Task Force.”
Chandler said the more people you meet, the better chance you have of being
in the right place at the right time.
Additional thoughts from Chandler on becoming a CPA
“In my opinion, the two most important (nontechnical) skills for a CPA are
networking skills and communication skills. Current and future CPAs should
practice these skills constantly. They’re essential in job hunting,
attracting clients, maintaining client relationships, dealing with employers
and co-workers, etc.”
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Seven Things to Tell an
Interviewer
If you read other books on job interviews, you'll
notice they feed you lists of interview questions and answers to memorize.
An interview is not an interrogation, however it's a conversation. To make
it that way you need to come armed with a multitude of small stories about
both your business and personal lives. Read this article in
its entirety at
Careerbuilder.com.
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