Careers with

Cole, Evans & Peterson

Certified Public Accountants

          Cole, Evans & Peterson is a one-office local CPA firm involving about 70 people.  The firm has enjoyed substantial growth since its inception in 1957 and is one of the largest firms in Shreveport, Louisiana.   We believe that it enjoys an excellent reputation and that it is among the leading firms of the area.

Types of Service

The firm renders services in auditing, tax, management advisory services, write‑up accounting, and data processing.   Only data processing is specialized.   In all other areas, the same people render a variety of services.   The staff members and partners develop areas of special interest and competence (by industry and subject) but remain basically generalists.

Auditing.   Our audit engagements include, in addition to the usual financial audits, work in the operational audit areas, special court‑directed audits, contract compliance audits, and government compliance audits.

Taxes.   Our areas of involvement in taxes include, in addition to income tax planning and income tax return preparation, work in estate and gift taxes, and property taxes for all types of entities and for many varied industries.   Our industries of concentration include real estate, oil and gas, farming, health care, and others.

Management Advisory Services.   Engagements in this area often grow out of audit, compilation, or review engagements and include design of accounting systems and controls, development of detailed office systems and procedures, assistance in recruiting accounting and bookkeeping personnel, analysis of alternative investment decisions, analysis of purchase or sale of a business, personal financial planning and design, installation of data processing systems of all sizes and selection, and operation of employee compensation plans.

Write-up Accounting.   This work is either performed using totally manual or hand-posted sets of books or using one of our in-house computers.   Write-up accounting work is not performed on a long-term basis by graduate accountants, but beginning graduates (who in their career will supervise recordkeeping systems) are assigned write-up accounting duties.   We do this to familiarize them with the recordkeeping problems of businesses.   Long‑term write‑up is conducted by para‑professionals.

Data Processing.   We operate an IBM AS/400 computer and a network of PCs.   Our data processing division employs approximately 15 people and provides general business applications with specialties for mortgage loan companies, physicians, hospitals, and retailers.   Our services include system design and installation as well as computer operations on a service bureau basis.  

Clients

The firm services corporate clients ranging from those with annual revenues of over $170,000,000 and more than 1,500 employees to one‑person organizations with annual revenues of less than $100,000.   Included among our clients are individuals, commercial enterprises, manufacturers, unions, churches, schools, mortgage bankers, etc.,--all sorts of groups and organizations in many different industries and with many different concerns in life.   Generally speaking, our clients are local (travel is almost nonexistent) and usually employ less than 50 people.   One of the most satisfying aspects of a career in local‑firm public accounting is that the individual accountant serving the organization has personal identity and has the ability to influence the success of the client organization.   It is possible for a young accountant to have, within a few months of beginning a career, a significant impact on the well‑being of a client.   This is a source of satisfaction to most local‑firm CPAs.

Basic Philosophy

The primary objective of the firm is to furnish our clients with the best professional service available and thus to insure our people of satisfying careers.   We strive continuously for excellence of performance.   We adhere to the higher level of professional standards and work to merit the respect of our clients and our colleagues.

We believe that the characteristics necessary for success in public accounting are a sincere desire to excel (hard‑worker) along with an adequate basic education and intellect.   We have found that academic success correlates very well with success in our firm.   The work expected of a person in public accounting is difficult and sometimes tedious and the hours worked are, during part of the year, very long.   Unless a person has a very strong desire to excel and is attracted by the variety and challenge of public accounting, there is little likelihood of a successful career.

Professional Conduct (Ethics)

          All of the firm's CPAs are members of the American Institute of Certified Public Accountants and the Society of Louisiana Certified Public Accountants.  The firm is a member of the Private Companies Practice Section of the AICPA.  The practice is conducted in compliance with the rules of professional conduct of these organizations and of the various state and federal agencies before which the firm practices.

Quality of Work

          In keeping with our basic philosophy, we also emphasize the requirement for the highest quality of work possible.  Every person is expected to perform every task in an intelligent and creditable manner.  No assignment accepted is ever considered unimportant or unworthy of our best efforts.  The responsibility of all professionals is to carry out the work as expeditiously as possible so that the cost to the client will be kept reasonable and the value of the service maximized. 

Training and Development

          The beginning professional is assigned to work in a variety of areas including tax, audit, and write‑up accounting. On‑the‑job training is accomplished through close supervision and review by experienced staff members and partners.

          The firm requires continuing professional education (CPE) for all levels of staff and partners.  All professionals attend at least 40 hours of CPE courses each year.  Beginning staff members usually complete more hours.  Our major sources of courses and seminars are those developed and presented within the firm and those offered by the American Institute of Certified Public Accountants and the Society of Louisiana Certified Public Accountants.  The firm usually provides 40 to 50 hours of formal in-firm CPE each year and provides externally presented courses for the professional staff as a supplement to the training program.

The firm encourages self-development activities and distributes statements about current developments in accounting, auditing, and tax to all personnel.  We maintain a very comprehensive library to provide all staff members with up-to-date staff manuals containing firm policies and procedures on technical matters.

Professional staff are encouraged to sit for and pass the CPA exam at the earliest opportunity.  We grant time off to take the exam and each successful candidate receives a $300 per month raise upon notice of successful completion of the exam.  Additionally, bonus incentives are paid to candidates for prompt successful completion of the exam after starting employment.  A $10,000 bonus is paid to candidates who complete all parts of the exam in the first testing window after becoming eligible.  A $5,000 bonus is paid to candidates who complete all parts of the exam with one year of being eligible.  A $2,500 bonus is paid to candidates who complete all parts of the exam within two years of becoming eligible.  A $1,000 bonus is paid to candidates who complete all parts of the exam within three years of becoming eligible.

Career Progression and Compensation

All college graduates hired have been selected as potential partners.  We do not hire career staff people or short-term help.  Any beginning accountant who develops into a complete CPA and who is deeply committed to the firm will become a partner.  The opportunity of becoming a partner in the firm is directly (and only) related to the contribution that the CPA makes.

Beginning Compensation.  Our initial job offers are made at a compensation level consistent with that offered by other leading firms.  We intend to pay what is necessary to attract and retain the highest quality people.

Increases.  Each beginning employee's compensation is reviewed after six months and thereafter at least yearly.  Graduate accountants can expect to be compensated in ratio to their productivity.  Professional employees are paid for overtime at a straight‑time rate.  Promotions and advancement are based solely upon merit.   It is ability, not seniority that determines increased compensation, responsibility, and promotions.

Employee Fringe Benefits

Hospitalization Insurance.  Major Medical Hospitalization insurance is provided by the firm as a paid fringe benefit.  Spousal and family coverage is available through a cafeteria plan.  The premiums for spousal and family coverage are paid by salary reduction.

Disability Income Insurance.  The firm provides, as a paid fringe benefit, disability income insurance that will, with social security, pay until age 65, sixty percent of the salary of any staff member permanently disabled.

Retirement Plans.  The firm sponsors and contributes to a profit‑sharing plan.  All employees are eligible to participate in the plans after two years of service with the firm.

Dependent Care.  Reimbursement for certain dependent care expenses is available by salary reduction through the cafeteria plan.

Sick Leave.  Each employee is allowed five days (forty hours) sick leave each calendar year.

Vacations.  Employees are entitled to one week of vacation after a year of employment and two weeks at the end of two years.  Additional time off without pay is available for those desiring longer periods subject to rescheduling their work load.

Basic Work Week.  The firm operates on a regular work week of 40 hours consisting of five days of eight hours each.  Normal duty hours are 8:00 a.m. to 5:00 p.m.

Holidays.  The normal holidays observed are New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Eve and Christmas Day.  In addition to these normal holidays, we also take a holiday on the first work day following the end of the tax season.

CPA Exam.  Time off with pay is granted to those sitting for the CPA exam.

Working Environment

The working environment at Cole, Evans & Peterson is conducive to the professional status of our staff members.  We consider our staff to be associates of the firm and not merely employees.

Each staff member is assigned to an individual office.  All CPAs are listed on our letterhead as well as the building directory and office foyer.

We strive to provide individual freedom for the professional so that maximum growth is achieved.

Busy Season

          No discussion of a public accounting career would be complete without mentioning the busy season.  We expect professional employees to do their part in making sure that the increased volume of work from January 1 through April 15 is completed on a timely basis.  This requires significant overtime work, including Saturdays, for which employees are compensated.

Deciding Between Local Firms and National Firms

The national firms offer local and national travel, the possibility of transfer, life in big cities, and work with major companies.  For many people, this is a more satisfactory career than that available with local firms.

Some things are, we feel, more likely to be found in the local firm.  Among those are the absence of extensive travel, the absence of transfers, the feeling of self‑determination and control of one's own career that goes with being a part of a smaller organization, and the feeling of impact and identity that comes from working with clients who know and respect your contribution to their businesses and careers.  Most professionals enjoy the opportunity to be involved in a job from start to finish, which is an immediate opportunity for the local firm professional.

          We are very happy with our careers in our firm.  We hope that you will consider the opportunities available to you through it.