Internships & Careers
Auditing is a central part of accounting. Auditors review the financial statements of businesses to ensure they are accurately presented. They may work for independent public accounting firms or serve as internal auditors within companies. A career in this capacity may also involve tasks such as sourcing records through financial statements for businesses and organizations. This work has become increasingly computerized, so a strong foundation in information systems is vital.
Budget analysts make financial plans for businesses, government agencies and nonprofits. Strong negotiating skills are a must.
Earning the CPA (Certified Public Accountant) credential opens the door to many opportunities, including: public accountant, trusted advisor, consultant, governmental accountant, criminal fraud investigator, CFO, CEO, tax practitioner, and more.
Financial accountants prepare financial statements and other reports for businesses and enterprises. They play a crucial role in mergers and acquisitions.
Financial advisors help their clients make prudent investment decisions and are often involved with tax planning. They help clients meet their personal financial goals, including savings, debt, retirement, education funding, and investments. Many financial advisors hold the CFP (Certified Financial Planner) or the PFS (Personal Financial Specialist) designation in addition to the MST.
A forensic accountant is an investigator, auditor, attorney, and accountant all in one. You'll look for evidence, conduct analyses, interview involved parties, and draw conclusions. A forensic accountant prepares each case as if it will result in litigation. They're frequently asked to give expert testimony on fraud and accounting-related matters. Forensic accountants can also be used to set up proactive fraud prevention programs.
Career opportunities with the Internal Revenue Service (IRS) are expansive. You can specialize in many different areas, such as income tax, excise tax, international tax, estate and gift tax, large business, and small business. Experience at the IRS is often leveraged to start a career with public accounting firms or with private companies.
You can also work for the U.S. Treasury Department, which oversees the IRS, interpreting tax laws through the issuance of regulations, performing economic analysis, and commenting on tax policy.
The MST degree is often a requirement for these careers.
Management accountants focus on the capital budgeting and business analysis areas of accounting. They analyze contracts and expenses for businesses and organizations. Working closely with marketing managers and financial managers, they help make major business decisions.
You can work in the tax departments of state, city, county, and town government, specializing in areas such as income tax, property tax, excise tax, sales and use tax, meals tax, and many others.
Tax accountants may work in public accounting firms or most other types of businesses. They prepare income tax statements for corporate and personal income, in addition to tax planning. This field requires a strong knowledge of economics; federal, state, and international tax codes; and legal procedures involved.
Tax attorneys help taxpayers to rectify issues they have with the IRS or a state revenue department. This may include auditing, navigating fines incurred, or lien removal. A tax attorney may specialize in a variety of areas, such as income tax, tax law, corporate tax, or estate and trust taxation, and estate planning. Many attorneys earn an MST degree and may also be CPAs.
Graduate with more than a degree. Arm yourself with practical accounting experience and get prepared for real-world challenges in the workplace.
All accounting majors are required to complete 160 hours of pre-professional or professional accounting or tax experience prior to graduating. The hours may be obtained through one or more accounting or tax (a) internships, (b) part or full-time jobs, or (c) cooperative education positions. Hours may also be obtained through participation in Suffolk's Free Tax Preparation Center (SBS 555, SBS 556, and SBS 557 - each year will earn students 55 hours).
Approval of the 160 hours work experience must be obtained in advance of beginning the work. Students must then register for the Accounting Practicum upon completion of the 160 hours and approval by the Accounting Department. Students should journal their work tasks and accomplishments. This experiential component carries no academic credit, does not require any tuition, and will be graded pass/fail.
Graduate students in Accounting and Taxation are not required to complete an internship but can select an internship option to gain practical work experience.