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THE MAGAZINE OF THE NEW JERSEY SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS
4 Hiring Trends and Skills Needed for the Modern CPA RALPH ALBERT THOMAS, CPA (DC), CGMA Chief Executive Officer & Executive Director rthomas@njcpa.org THERESA HINTON Chief Operating Officer thinton@njcpa.org DON MEYER, CAE Chief Marketing Officer dmeyer@njcpa.org RACHAEL BELL Managing Editor rbell@njcpa.org KATHLEEN HOFFELDER Senior Content Editor khoffelder@njcpa.org
To be hired as that “go-to” person for their clients and organization, today’s CPAs need to have more than the traditional set of skills. They need a mixture of technical and soft skills along with people skills and the ability to bring in clients to truly make it in the industry. See what skills are needed today and what young professionals are bringing to their newly landed jobs. There’s no one-size-fits-all strategy for hiring, but some skills are more in demand than others.
8 Education: Preparing the Next Generation of CPAs
With the changing landscape of the accounting profession, does the training ground for young professionals today make sense? Does the college accounting curriculum need to be altered? How can colleges, and even high schools, better prepare young professionals? Is there a more appropriate way to train CPAs than the traditional route? Find out what a broad mix of experts believe.
10Career Transitioning: A Focused Path or a Leap of Faith?
The accounting profession today offers a plethora of choices for careers that were almost unheard of years ago. And it’s easier than ever to transition out of one path and into another. See what it takes to make it to your dream job.
DIANE ESPIRITU Senior Graphic Designer despiritu@njcpa.org WALT HARTSFIELD Junior Graphic Designer whartsfield@njcpa.org
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2 CLOSE UP
18 FIRM MANAGEMENT
Rethinking Diversity, Equity and Inclusion
Plan Now for the Successful Transition of Leadership
12 ACCOUNTING, AUDITING & ATTEST
19 INDUSTRIES
The Critical Role of Internal Control 14 BECOMING A CPA
The Value of Internships 15 BUSINESS MANAGEMENT
Determining Choice of Entity 16 FINANCIAL PLANNING SERVICES
5 Estate Planning Strategies in Light of the SECURE Act
Creating a Clearer Picture of Expenses for Nonprofits 21 PROFESSIONAL DEVELOPMENT
Networking is Now More Essential Than Ever 22 RISK & COMPLIANCE
Risky Business: Risk Management Lessons From COVID-19
25 TECHNOLOGY & INFORMATION MANAGEMENT
Confidential Communications in a Digital World 26 NJCPA NEWS
y 2020 Ovation Award Winners y NJCPA Lotteries Assist Members y Emerging Technologies Conference to Focus on New Data Efficiencies 39 CLASSIFIEDS
24 TAX
40 MEMBER STORY
7 Tips for Navigating the Troubled Waters of Tax Controversy
Matthew Wielkotz, CPA
