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I'm having a little trouble this semester with intermediate ii. It's definitely interesting and I get the concepts, but there is so much to keep track of. It's not discouraging or a turnoff, I'm just not devoting enough attention between it and 5 other classes and I miss some details. I'm also taking financial management and auditing thoery, and of the three, I find finance to be the most interesting. I'm not going to switch, as it's too late. But I might pursue an MS in Finance later on. In the meantime, immediately upon graduation, I want to work part time and study for my CPA as much as possible.
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Mar 31, 2012 08:08
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Turkeybone posted:Ok, point taken, but would you agree with the statement, "If I like intermediate i, I'll probably like a career in accounting"? (as much as one can like it, heh). I didn't necessarily love my accounting classes, but I enjoy what I do now (audit at a Big 4). One thing to remember is if you are looking to go into public accounting, you won't necessarily be doing the things you took classes for in college. Obviously you need to know about accounting and all those classes help, but I think my job is far more interesting than the classes I took in college. Yes, you are "checking" other people's accounting, but you also see more interesting things like unique transactions that you need to consult on or issues with your client's accounting policy. I think what you meant by "as much as one can like it" was more of like "hey, how can anyone be super interested in something like this" so I think if you do enjoy it to an extent, a few years in public accounting could be good for you.
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Apr 1, 2012 07:05
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Turkeybone posted:Ok, point taken, but would you agree with the statement, "If I like intermediate i, I'll probably like a career in accounting"? (as much as one can like it, heh). No. I couldn't STAND both the intermediate accounting classes and now I'm a CPA and enjoy it. Honestly I despised almost every class up until my senior level courses. Looking back, I have zero idea how I didn't change my major.
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Apr 1, 2012 19:21
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hellboundburrito posted:I didn't necessarily love my accounting classes, but I enjoy what I do now (audit at a Big 4). One thing to remember is if you are looking to go into public accounting, you won't necessarily be doing the things you took classes for in college. Obviously you need to know about accounting and all those classes help, but I think my job is far more interesting than the classes I took in college. Yes, you are "checking" other people's accounting, but you also see more interesting things like unique transactions that you need to consult on or issues with your client's accounting policy. Yeah that's what I meant not like "ugh this is awful" but I would imagine that solving problems and being part of a team are more rewarding than the number-crunching. Like already in managerial, we're doing cost allocation and I could see applying that kind of stuff to my old restaurant -- "should we really be pushing so our dining room business so hard compared to liquor and bar food sales?" That kind of thing. Next question -- is it that important where your classes come from? Like Cornell doesn't offer a full complement of accounting courses, and so some students (or like me who would have to do some summer/winter stuff) take some distance learning courses with LSU. They're like 400 bucks and the guy recommended them, so, I might have to look into it. The general feeling I've gotten from the thread is that most people are just interested in if you can meet the requirements for a CPA and sit for the exam. Are there instances where its more important where the classes come from (big 4, that kind of thing)?
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Apr 1, 2012 21:53
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Turkeybone posted:Next question -- is it that important where your classes come from? Like Cornell doesn't offer a full complement of accounting courses, and so some students (or like me who would have to do some summer/winter stuff) take some distance learning courses with LSU. They're like 400 bucks and the guy recommended them, so, I might have to look into it. Not really, since all the Big 4 and other firms care about is that you qualify to sit for the CPA exam and can ultimately become a CPA (as it means they can bill more per hour).
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Apr 1, 2012 21:55
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For the 150 part, a recruiter for a midsize firm just told us on Friday that she didn't care how you got the extra credits, or what they were in. She told us she was totally cool with candidates just taking random courses even at community college.
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Apr 1, 2012 21:58
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abagofcheetos posted:For the 150 part, a recruiter for a midsize firm just told us on Friday that she didn't care how you got the extra credits, or what they were in. She told us she was totally cool with candidates just taking random courses even at community college. Okay cool.. well the 150 I dont have any problem with... heh. Thanks for all the information folks.
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Apr 2, 2012 01:58
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My girlfriend is graduating this spring with a double major in Accounting and Finance and is having trouble finding a job. I'm looking for some advice on where to look and what her next steps should be. Her hope is to go into auditing, but would do tax if necessary. Her GPA is about 3.4, but she did not complete any internships and does not have any influential contacts at any firms. She has already gone through the interviewing process with most of the major firms in the area last fall, and while getting into second rounds on a few, did not get any offers. She is confident her interviewing skills are good, but the lack of experience or club involvement really seems to be what's preventing any offers. My three questions are this- One, where else after these major on-campus interviews could she be looking? Obviously every company or municipality needs auditors, but it's hard to imagine how to approach this. Second, what would be the best way for her to develop contacts/possibly get some warm referrals at companies? Third, now that the time for internships/clubs are over, what can she do to distinguish herself from the other 11 candidates for any job opening? She already plans on starting the CPA after graduation, but it would be great to get a job before completing all levels of that. Thanks.
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Apr 2, 2012 04:04
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I really like and appreciate all the accounting talk in here, it is really useful. Next fall I plan on getting involved with an accounting SPO. I have narrowed my choices to either Ascend or Beta Alpha Phi (which I should easily meet the academic requirements). I know BAP is nationally recognized (Ascend is national too, though I don't know the reputation), but the local chapter of Ascend seems really organized and has their poo poo together... is BAP a no brainer?
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Apr 2, 2012 05:02
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Is both out of the question? I'd wager to say that BAP is more "nationally renowned" but only because it's been around much longer, and has a broader scope of membership (since if I remember correctly Ascend is more geared toward Asian students). However, being able to be involved with both (and maybe even an executive board member for one of them) would be pretty good. The Big 4, regional, and mid-size firms will probably make similar recruiting presentations at both societies. I would strongly recommend getting heavily involved with one society and try to get nominated as an executive board member the following year if possible. It's a good leadership opportunity, and it gives you a lot of exposure to network with accounting firm recruiters/staff/management - all of which are pretty important in the hiring process come internship/full-time interview season. I definitely feel that it's getting harder and harder to find an internship/full-time offer coming directly out of school - accounting programs have been advertised throughout so heavily these past few years that supply far exceeds demand at the campus hire level. Strong GPA, 150 credits, leadership experience, relevant work experience (internships/work-study programs at school), volunteer work (VITA/TCE - Volunteer Income Tax Assistance/Tax Counseling for the Elderly), and to certain extremes progression on the CPA exam are all good things to have... but you also need to have an extremely pristine resume as well. Other good places to network and find jobs elsewhere apart from accounting societies at school would probably be state societies (Google your state's equivalent for NJSCPA). Even though a majority of networking events are for experienced professionals that have their CPA already, there are also student events (and usually discount membership if you're still enrolled in school). If you're feeling lucky, try applying for some GS-5/7/9 positions at USAJobs.gov.
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Apr 2, 2012 06:50
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Thanks for the great advice. I was thinking of both, but I wonder if it would even be possible to participate enough in both to maintain membership. I completely agree with getting a position within the organization, my plan is next year (junior year) to do literally every single event and thing possible with the organization (I'll bake 1,000 cookies for the bake sales if I have to), and then set myself up for my senior year to have a position. I may consider doing the dual thing, devoting most of my time to one, but just enough to the other to be in good standing. I didn't realize being a member of two is something that is actually done. I definitely plan on doing VITA the next two years as well. It sounds like a really great program, and he fact that it will look good only makes it better. I've also applied for a student membership to the PICPA, even if just for the line on my resume. Thanks again!
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Apr 2, 2012 07:14
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Hey what are some of the cheapest/easiest/quickest ways to go for some distance learning upper level accounting courses?
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Apr 2, 2012 13:00
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N.N. Ashe posted:Hey what are some of the cheapest/easiest/quickest ways to go for some distance learning upper level accounting courses? I think the LSU ones are like ~$400 a pop.
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Apr 2, 2012 13:49
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N.N. Ashe posted:Hey what are some of the cheapest/easiest/quickest ways to go for some distance learning upper level accounting courses? I took Intermediate Accounting A, B, and C through https://www.smc.edu - cheap for California residents. Think it cost me $80. e: the classes fill up super quickly though
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Apr 2, 2012 22:34
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drat, it bums me out to read about how much involvement in extra-curricular activities is necessary to get a job. I feel it, too - I worked through college, played music and hockey in the off-time. None of this translated into many great business relationships and it became very tough for me to get a job right out of school. Thank goodness I found a job in Breckenridge, CO doing lots of different accounting for HOAs, restaurants, hotels, commercial real estate, and the odd tax work around this time of year. Have just about 4 years of experience under my belt now and am going to be applying for my CPA license once I pass the ethics exam (it's sitting on my desk right now awaiting a free evening). There are options out there. Join the state society as was mentioned above, it's great for networking and being involved. That said - I think I might take the summer off from work...
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Apr 4, 2012 06:23
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I have a bachelors degree and am enrolling in accounting classes this summer. Under the new California requirements, how long will it take to finish all the classes necessary to sit the CPA exam, assuming a full load? I have never taken an accounting or business course before, so aside from the bachelors I am starting from scratch.
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Apr 5, 2012 19:24
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Lemmi Caution posted:I have a bachelors degree and am enrolling in accounting classes this summer. Under the new California requirements, how long will it take to finish all the classes necessary to sit the CPA exam, assuming a full load? I have never taken an accounting or business course before, so aside from the bachelors I am starting from scratch. A couple semesters and maybe a summer/winter session should do it
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Apr 5, 2012 19:28
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I could've done it all in two semesters while working full time+ if the California community colleges weren't so damned impacted
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Apr 5, 2012 19:35
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Moneyball posted:A couple semesters and maybe a summer/winter session should do it That's what I was hoping, but looking over the accounting program at Santa Monica College (only program I've gone through in detail yet) the classes seem to be in a very strict progression, not leaving me with many classes to take until I've gotten up to Intermediate accounting. Also, I don't fully understand the requirements. I'm supposed to take a bunch of business classes as well? Having trouble figuring out what those are supposed to be. The SMC CPA prep course only includes like two non-accounting business classes. Is it out of date? Edit: I see that accounting courses over and above the 24 minimum count towards Business. So just take everything you can get into. Basic Excel spreadsheets here I come! Gabriel Grub fucked around with this message at 20:59 on Apr 5, 2012 |
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Apr 5, 2012 19:36
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Lemmi Caution posted:Also, I don't fully understand the requirements. I'm supposed to take a bunch of business classes as well? Having trouble figuring out what those are supposed to be. The SMC CPA prep course only includes like two non-accounting business classes. Is it out of date? The CPA Examination requires general business classes on top of accounting classes, IIRC. An entire section of the exam is devoted to non-accounting material, so it stands to reason. Speak with your advisor about your intentions and about taking more accounting classes sooner to get all of your requirements fulfilled. Hell, I didn't even declare myself an accounting major until my final semester of school.
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Apr 5, 2012 21:07
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19 o'clock posted:The CPA Examination requires general business classes on top of accounting classes, IIRC. An entire section of the exam is devoted to non-accounting material, so it stands to reason. Speak with your advisor about your intentions and about taking more accounting classes sooner to get all of your requirements fulfilled. Hell, I didn't even declare myself an accounting major until my final semester of school. The CPA exam sections are easy to remember with the acronym BARF  which is rather appropriate
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Apr 5, 2012 21:13
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Moneyball posted:The CPA exam sections are easy to remember with the acronym BARF True, but definitely don't take them in that order or you'll be kicking yourself in the final stretch.
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Apr 6, 2012 01:26
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I am so pumped. I was worried I wouldn't have a chance to do a sophomore summer program with anyone, but I just got an email back today from a recruiter at a firm that presented to us last Friday and she invited me. I think it helped that I mentioned to her that I was interested in one of their branch offices from back where I grew up. Probably had a much smaller pool of people applying.
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Apr 6, 2012 20:57
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I recently took the Auditing Section of the CPA test. Though I don't know the results yet, I feel as though I did a pretty good job. The next section I will take is Regulation. I'm looking at the Becker course book, and, well, I have to keep reminding myself that there are some legitimate benefits to having ADD, because holy poo poo!  What's the consensus with which part of the exam is the hardest?
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Apr 11, 2012 22:44
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SirPhoebos posted:I recently took the Auditing Section of the CPA test. Though I don't know the results yet, I feel as though I did a pretty good job. Most tend to say FAR or REG. Personally I lean toward FAR; no single topic is difficult or anything, there is just a RIDICULOUS amount of material that could be tested. In addition you have to deal with all the IFRS poo poo being phased in (that we will probably never wind up using, but oh well). Edit - We've also got a CPA exam thread if you ever want to ask questions or contemplate suicide. Carlton Banks fucked around with this message at 00:17 on Apr 12, 2012 |
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Apr 12, 2012 00:14
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SirPhoebos posted:I recently took the Auditing Section of the CPA test. Though I don't know the results yet, I feel as though I did a pretty good job. I'd say FAR as well, it's an mile wide and an inch deep.
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Apr 12, 2012 02:59
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I still say REG because I failed it!! Seriously, I hate tax and business law.  My request to transfer to Risk Assurance went through! Out of external auditing hell and into the ITGC testing fire in a few months..
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Apr 12, 2012 03:09
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So I'm recruiting with all the Big 4 and have to choose which one I like best. Anybody have horror stories/advice? Please don't say its just about the people.
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Apr 14, 2012 08:04
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Democratic Pirate posted:So I'm recruiting with all the Big 4 and have to choose which one I like best. Anybody have horror stories/advice? I've heard E&Y isn't that highly regarded in their audit role compared to others, that's about all I know.
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Apr 14, 2012 15:58
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Has anyone here got Big4 audit experience? I'm worried about committing the 3 years to it right away.
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Apr 14, 2012 17:27
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Democratic Pirate posted:So I'm recruiting with all the Big 4 and have to choose which one I like best. Anybody have horror stories/advice? I applied to two of the big4 and received offers from both. I went with the company where I got the best "vibe" from the ones interviewing me. The terms, including salary and benefits, were more or less the same at both places. I wont start until august, so I apologize for not being more specific. Edit: So yeah, look at the overall offer and go with the place that satisfy the most of your demands. Paul Thomas fucked around with this message at 22:36 on Apr 14, 2012 |
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Apr 14, 2012 22:25
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Democratic Pirate posted:So I'm recruiting with all the Big 4 and have to choose which one I like best. Anybody have horror stories/advice? Sorry, but it really is the people. Benefits will be similar across the board, the main diff is just specific office atmosphere within your local practice group. If you know anyone from upper years in one of the offices, take them for lunch, solo, so they can actually say how they feel.
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Apr 15, 2012 01:23
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Something lawful posted:Has anyone here got Big4 audit experience? I'm worried about committing the 3 years to it right away. I'm in audit at a Big 4 - are firms now requiring you commit to 3 years or something, or are you just assuming to make it worthwhile you will be there for 3+ years? When I joined a few years ago, there was no commitment other than you had to stay for 6 months to keep half of your signing bonus, or a full year to keep it all. Generally, life at a Big 4 is pretty similar across the board. You're likely going to find people you enjoy working with at any of them, and pay/benefits is pretty similar as well. I think it depends more on what line of service you want to go into (or if you don't have a preference, the specific group you just get placed in). For example, if you are in a group that audits huge asset management or financial services clients that are publicly traded, you might work longer hours in the typical busy season than other groups, work on fewer clients with much larger teams, and get exposure to fewer types of audit areas at the beginning of your career. Compare that to a group that maybe focuses only of private companies in a variety of industries, and you may work less in the typical busy season time frame but also have busier times throughout the year such as summer or fall due to different fiscal year-ends. You'd also likely work on smaller teams and more clients, but get exposure to more areas and have more responsibilities at a lower level.
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Apr 15, 2012 04:04
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SirPhoebos posted:I recently took the Auditing Section of the CPA test. Though I don't know the results yet, I feel as though I did a pretty good job. When I took the exam in 2008, BEC didn't have the Simulation part so it was the easiest. IMO, the hardest would be REG because holy poo poo... after you finish studying Taxation, business law is a whole different animal. FAR would be a close second and AUD a distant third. I hate AUD though because it's so loving boring. I passed the exams in the first try though.  But I'm unemployed right now (for reasons not related to my credentials). I worked in a Big 4 affiliate audit firm in another country and I'm never going back to public accounting. I want to build a nice family and the hours they want from you in public accounting is just too much for me. As for my next job, I'm targeting a job that would have me as an in-house accountant. I'll just supplement my income with preparing tax returns during the tax season (working on my EA license right now). I'm not discouraging you guys but the accounting profession in general is boring. The pay is relatively good but it's not a rewarding experience. It's challenging but the nature of the work is just dull. If I'm good in any other field, I would not have taken up accounting. If you want stability, then go for it. Demented Guy fucked around with this message at 22:55 on Apr 16, 2012 |
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Apr 16, 2012 22:50
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Why not just prep returns with your CPA? I'm assuming you have one because you passed your exams...
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Apr 16, 2012 22:59
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Mandalay posted:Why not just prep returns with your CPA? I'm assuming you have one because you passed your exams... I lack the public accounting experience required (1 year here in CA) so I'm not a CPA yet (I'm a CPA in my home country though but it doesn't count here). Getting the EA certification just enhances my "image" as a tax preparer. Taking the exam is no big deal though. I would be forced to refresh my tax knowledge every year because of the CPE requirements of the IRS. The EA exam also delves deeper into the tax subjects than the REG part of the CPA so it helps me have the necessary knowledge to be more confident in preparing tax returns for others (and charging for it).
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Apr 16, 2012 23:07
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The only hard parts (IMO) on REG were Trusts and some Individual stuff (the rest wasn't too bad) and, hey, I did the best on it of all the parts.  I'd say it's #2 in difficulty behind FAR, but ahead of AUD and BEC.Edit: Oh yeah, the Professional Responsibilities part was annoying too, particularly since my tax classes never covered Circular 230. Horseshoe theory fucked around with this message at 05:15 on Apr 17, 2012 |
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Apr 16, 2012 23:30
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I like FAR but I agree... the scope of FAR is enormous. Maybe because my background in college of Financial Accounting is stronger than REG, that's why I had an "easier" time in FAR than REG. Understandable since business law/taxation is different here in the US than in my home country.
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Apr 16, 2012 23:45
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Thanks for the help guys. Would any auditors/accountants say they learnt much about business during their training?
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Apr 17, 2012 04:09
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Something lawful posted:Thanks for the help guys. Would any auditors/accountants say they learnt much about business during their training? I learned a lot of general office-life habits that are worthwhile, but 1-3 years in accounting doesn't give you 'business' knowledge in the way recruiters might tell you. That comes after, when you start to specialize by industry/area of practice. And even then, most of what you're doing is still just debits and credits. Debiting COS instead of Inventory does not teach you the difference between manufacturing and retail.
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Apr 17, 2012 04:47
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