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Accountant Career Interview
Carol Holmes is the manager of accounting services at Dugan & Lopatka in Wheaton, Illinois, and she has been an accountant for 27 years.
Accountant Career Path
Although she was originally studying to be an actuary, by her senior year in college, Carol realized that she was meant for accounting.
“I happened to be working at an insurance company, and I worked with some auditors,” she explains. “I took the only accounting class at my liberal arts school, and I really enjoyed it. I knew that I had to pursue accounting it in graduate school.”
Accountant Experiences
Carol received her Bachelor of Science in mathematics from Trinity College in Hartford, Connecticut, and her Master of Science in accounting from Stern Business School at New York University. With her accounting degree, she also earned her Certified Public Accountant (CPA) title.
The majority of Carol’s career has been spent as an auditor in public accounting.
“I started in public accounting,” she says. “Accountants are pretty evenly divided between public and private accounting. Public accounting consists of doing tax work, auditing, and other accounting services for people and companies, while private accountants work for one company.”
“You need experience in a public accounting firm to earn your CPA,” she adds.
Carol has worked for a number of public accounting firms, such as Coopers and Lybrand in New York (now a part of Pricewaterhousecoopers) and RSM McGladrey and Pullen in Schaumburg, Illinois. She has also worked at the private accounting firm American Banker’s Insurance Group in Miami.
Carol has been an accountant for 27 years.
Accountant Degree Programs
“A Bachelor’s degree in accounting will get you a job in a private accounting firm,” Carol explains. “In Illinois, you also need 150 credit hours, which usually means a Master’s degree, to become a CPA, and most states are also heading in that direction.”
Accountant Job Description
Carol is the manager of accounting services at Dugan & Lopatka in Wheaton, Illinois.
“I am responsible for clients’ financial and tax issues,” she says. “We serve only privately held companies, such as smaller companies that cannot afford to have an accountant on their staff. I am involved in tax planning and preparing tax returns.”
Accountant Daily Routine
As a public accountant, Carol typically travels to different clients’ places of business to analyze their financial and tax issues.
“I look at their accounting software, talk with their staff and ask if they have any issues or questions,” she explains. “I look at their financials and analyze the statements to see if they fit what they are telling me. I’ll talk to the owner and get their perspective on what is going on. I fix anything I can. It involves a lot of thinking on my feet.”
After meeting with the clients, Carol spends the rest of the day finishing up financial statements, writing notes about clients, and meeting with her co-accountants to discuss the clients.
“There is such a variety of work,” she adds.
Accountant: Steps to Success
“You need a love of numbers,” says Carol, “and you need to be highly organized. If you work in public accounting, you need to be good with people because you will be dealing with them all day long; you won’t be just sitting at a desk crunching numbers. You have to speak with clients in a number of areas.”
“You also have to be sensitive with people,” she continues. “Auditing means asking people hard questions about their financials. People that don’t like that aspect of the job can still find work in private accounting departments.”
Since accountants deal with a variety of businesses, accountants also need to be curious.
“As an auditor, a lot of success that you have comes from asking a lot of questions about the business and how it all comes together in the accounting records,” Carol explains.
Accountant Job Opportunities
According to Carol, accounting is a decent field to get into.
“Even in this economy, there are many opportunities out there for accountants,” she says. “In fact, Enron made a lot more jobs for accountants because the government passed a number of new regulations that require a lot more accountants.”
Accountants can also find more work by earning their CPA.
“With a CPA, you can open more doors, and it’s more lucrative,” Carol adds.
Accounting Career Favorite Aspect
“I love working with numbers,” says Carol. “The combination of working with numbers and people is unusual, and that’s my favorite part about this job.”
Accountant’s Future Ambitions
Carol enjoys where she is now, but she hopes to continue to build on her knowledge and experience.
“I would like to get more involved in the tax situation of my clients,” she explains. “I’m trying to gain more tax-related experience.”
Advice for Prospective Accountants
“All accountants should try public accounting for a couple years,” Carol advises. “That’s the only way you’ll get a CPA, which provides more opportunities. You also get to work with all different types of businesses, and it opens your eyes to a lot of different careers. There are a lot of businesses that I’ve been to that I’ve never thought of before, and I’ve met a lot of great people.”
