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Annointed
Mar 2, 2013

mojo1701a posted:

WHEW passed my Assurance exam.

Wasn't sure how it was being graded given it was my first in-person PEP exam (Core 1, Core 2 and Taxation were online case-only), which meant it was 4 hours for 15 multiple choice plus practice cases.

Now I need to plan when I'm going to take Common 1 and 2 before the CFE. From what I understand, CPA Canada needs you to take them in a specific schedule as they build on each other for the CFE.

Congratulations on passing. Best of luck on your other stuff. I hope to reach your levels of success someday.

On some good news for myself, I have been able to get CMA member scholarship. In terms of what I can do, should I go for my California CPA first or CMA? I am graduating in Fall 2022 so I am trying to see what should I put my focus on other than getting a job and doing good to myself and coworkers.

untzthatshit posted:

Woo hoo, finally a CMA question!

I did the CMA exams as well as the additional CSCA test which is optional. But I figured since I was just doing two exams instead of four, I could add a third no problem.

I did fail CMA 1 the first time I took it. Years ago I did take FAR and passed but then got stuck on AUD and eventually lost my credit for FAR and my career trajectory at that point didn't really require a CPA. So after a few more years I realized, I'm really a managerial accountant, I should take the CMA exam instead.

I feel CMA 1 was very similar to FAR. A tough but fair exam. CMA 2 is probably technically easier but it also includes most of the ethics and more abstract hypothetical questions so if you're a pure numbers person that can trip you up. All in all I did the whole thing in less than a year. I passed part 1 in October 2020 and Part 2 in February 2021. I took a bit of a break then did the CSCA in September 2021.

I think the recommendation is 90 hours of study per exam and that's probably about right. I used Gleim, which I can't recommend enough. Between the online resources and the textbook its everything you need

As for experience, I worked at a real estate developer/ construction company for nine years. Started as a staff accountant but my last title there was Controller. After I passed my exams I asked for a raise and was given a pittance, so I found another Controller job for a different construction company and jumped over there for a 50% increase in pay.

So it worked for me. I'm sure someone will say that CPA > CMA and that is probably true all else equal. For example if a freshmen in college or a recent graduate asked me to recommend what path they should take, I'd probably say CPA since it will give you the most options. But if you're like me and we're nine years into your career and are pretty darn sure you'll never be a tax accountant or auditor, then why not take the exam that's specifically suited for you.

Oh okie, CPA it is then. Thank you for the advice and congrats on getting into a near decade into your career path.

Is there a sticky post for an extensive goon recommended guide on all things accounting related?

Annointed fucked around with this message at 22:05 on Jul 25, 2022

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Annointed
Mar 2, 2013

Covok posted:

I just got a verbal offer and it's even better than I thought:
  • $90,000 Base
  • Christmas bonus
  • 6 month review for further salary increase
  • 15 Paid Vacation Days
  • Health Insurance with 50% matching
  • Eligible for 401k on January 1st, 2024
  • Flexible start date
  • Flexible Hours
  • No busy season; just a little busier at month end close

That's a 50% raise from my current base before bonuses and it's a better commute to boot and the bosses all seemed really nice and laid back. Plus, it's out of public accounting so I won't have any busy seasons or long hours anymore. This will be my first job that is mostly just 9am to 5pm every week.
Congratulations mate!

Annointed
Mar 2, 2013

pseudanonymous posted:

I don't want to steal Covoks thunder, but I got promoted from Finance Director to CFO Friday with a 20% pay increase retro to July 1 (though we use a COLA system, so 8.9% of that was pure soda).

Congratulations to you too. Hy yhat dounds like a major promotion.

Annointed
Mar 2, 2013

Should I consider taking up local county accounting internship? I been trying more job hunting but lately the only one I got as possible accept was Robert Half. 40 hours work for 20k a year pay. World I just want some part time internship or starter stuff while I finish college.

Annointed
Mar 2, 2013

pseudanonymous posted:

I worked briefly for Robert Half as an SPS consultant (i.e. like I worked directly for Robert half, got benefits and stuff and then was farmed out to do work for companies somewhere between a real consultant and a contractor worker).

They are basically the Walmart of the contract worker world, but they charge insane prices. Their recruiting staff is a revolving door of people who don't give a poo poo and don't know anything about finance or accounting and don't care to learn. The good ones leave RH and go to work for boutique firms. I don't source candidates from RH at this point, I tried, and everyone they proposed to me both sucked and was the most expensive.

That being said, you need any kind of experience it sounds like. I would worry less about how much money you are going to get paid and more about how much exposure to full cycle accounting you'll get. You really want to be working somewhere that does "real" accounting, with a true accounting system and a month-end close. Even if you just end up working in AP or whatever, someplace that is doing things "right" and not just QuickBooks or whatever.

A county internship would be okay, they do full cycle accounting, but governmental accounting is really weird and is a form of fund accounting, which has a lot of overlap with cost accounting (not cost per unit stuff but allocation stuff). It's also impossible to propose or make changes in government work, generally. Things are run the way they are run. If you like that kind of thing, it might be good exposure, and state or federal accounting jobs have good benefits and you work 40 hours a week and for accounting jobs are generally pretty low stress.

Thank you for that advice. Been a bit busy since trying to figure out something I can do before I graduate. What is your experience and opinion on part time internships while I finish my last semester of college?

Annointed fucked around with this message at 02:18 on Aug 1, 2022

Annointed
Mar 2, 2013

Got another interview for sitnsleep. Mainly clerical work. Will keep looking if they don't want me.

Annointed
Mar 2, 2013

Having a bad day, learnt that one of the job offers I had was World Finance Group, an MLM scheme. Still looking for internship and accounting work. So far everyone wants a 9-5 Monday to Friday and nothing else. Sucks for me since I have classes monday to wednesday and I don't have options to reschedule to late night and weekends. Will try other accounting positions and see what sticks.

Annointed fucked around with this message at 20:57 on Aug 2, 2022

Annointed
Mar 2, 2013

Getting frustrated. It's been a few weeks of daily job applying but so far I haven't gotten lucky yet. Been picking the part time accounting so it would mesh with my college schedule.

Annointed
Mar 2, 2013

Would a part time accounting job be possible for me? I have only one semester before I get my bachelors.

Annointed
Mar 2, 2013

I don't know how to journalize tht other than call the cia fod financial crimes

Annointed
Mar 2, 2013

Trying not to lose hope or get frustrated by the lack of people giving me a job. I'm just stuck with this and trying to finish up school. Gods I hate how they all keep saying "doesn't work with your school schedule."

Annointed
Mar 2, 2013

Audax posted:

Are you full time or part time?
Part time is manageable (2 grad-level courses/semester). Anything more than that and you will be exhausted.



On the other hand... we're short qualified people. Oy vey!

Part time since still have last semester of school. I got lucky with a new job offer with contract to possible full time. And just finished a firm tour.

Annointed
Mar 2, 2013

I GOT HIRED. I START TUESDAY.

Annointed
Mar 2, 2013


Covok posted:

Congratulations! That's awesome! What kind of gig? Public? Industry?


Eigo posted:

Congrats on the job!

Edit: In my personal experience, I felt like landing the first accounting job was the worst and everything was smooth sailing after having experience under the belt. You'll probably be a lot less stressed out for future opportunities if they do or don't go through.

It's a part time contractor job in the private industry. If I am lucky I can get full time by the time I graduate and work with this group expanding into the US branches.

Annointed
Mar 2, 2013

So many invoices to document and send and process. How do you all manage to do it and call it boring and easy?

Annointed
Mar 2, 2013

Barely finished the several days' worth of invoices and receipts processing before the end of my shift.

drat that was a start to official accounting. Though I can already tell I probably hosed up a ton.

Annointed
Mar 2, 2013

Well tomorrow onto the new office of the same job. Hope that with the manager here from overseas I can get some training. I hope I can do enough to impress and do decent. Or at least not make enough mistake to get fired. I really wanna make things right.

Annointed
Mar 2, 2013

Trying to collect the main account invoices to start closing the September Accounts. Oh gods everything is so disorganized from the move.

Annointed
Mar 2, 2013

Good news I can fix my mistakes next morning. Bad news including lunch I just did a 10 to 7 with most of it trying to sort through months of invoices. At least it's all organized Alphabetically.

Annointed
Mar 2, 2013

Eigo posted:

Man, having bad finance partners in industry can really suck. I cover seven plants as an accounting manager with what's effectively a three day close and the finance manager for three of my locations expects everything to be done by the third workday mid day. I've never worked with a finance partner who just refuses to do his job and forecast during close with what's available. Even if I give an estimate, he then follows up and wants to know when it'll be final which ultimately just eats more time to waste explaining.

Worst yet, when he does finds variances he'll just shotgun the question to five people with no one specifically called out - at least make an effort to start with someone in the chain so five people aren't looking at the same thing.

Wow that is absolutely unreasonable deadline and unreasonable financial partners. Like holy hell mate how do you even get anything done with people like that?

EDIT: DANG IT I KEEP GETTING MORE INVOICES. I think I'm done correcting my work to send to my supervisor and then there's more stuff that was missing from the statement of accounts. I been working 8 hours a week part time and it never ends.

Annointed
Mar 2, 2013

Yay got past petty cash and debit accounts for last month 20 days later.

Annointed
Mar 2, 2013

Was able to finish invoices on time. Would it be beneficial to get my bosses to use quickbooks instead of excel? They seem old school and only seem to use excel files and hand held basic calculators.

My professors say using mainly excel is quite inefficient and costly, but not sure if bosses would want to pay money on something like official accounting software.

Annointed
Mar 2, 2013

Getting worried. Hoping I can graduate and do well at work. I really want this job to turn into a commitment worthy of my time and loyalty. Job hunting sucks.

Annointed
Mar 2, 2013

PatMarshall posted:

This job is not worth worrying about and i would absolutely advise tou to find something better after graduation. It sound like you will have a bachelors and be CPA eligible. If they are keeping their books in Excel, then you are not learning anything particularly applicable, no serious organizatiion would even consider it. It's fine for part time or an internship, I suppose, but you'd be better served applying for full time jobs in public or at larger organizations. Have you talked to career services? Are their on campus interviews or events? You were having trouble finding part time, but I suspect that is because most places are looking for full time, apart from certain internships, and those are usually on a pretty rigid recruiting schedule. You can do way better than this place.

You're right mate. On worse news they terminated my work contract to get their other employees overseas. I am now jobless again but worse since this was independent contractor job.

I'll be forced to job hunt again. I hate this.

Annointed
Mar 2, 2013

PatMarshall posted:

Yeah applying to jobs sucks so bad, sorry. Good news is it doesn't last forever. You should be in a good position, accounting is still pretty hot, although it will depend on location.

poo poo just realized
Forced to use their equipment
Set hour
Set pay
In office

Told independent worker and 1099

I think the place intentionally misclassified me.

Annointed
Mar 2, 2013

I just signed up to over a dozen new accounting jobs. I hope I can use this time to focus on passing courses and graduating.

Annointed
Mar 2, 2013


No need to be sorry. We care about what you think and have to say. Sorry the new work is doing some bad towards you.

Annointed
Mar 2, 2013

School stressing me out. I got some new interviews possibly lined up. I hope they work out. I really just want to get as good as Covok and the rest of you all.

Annointed
Mar 2, 2013

I graduate in a few weeks. I hope that this and my constant job applications translate into me being able to pay for my own food again.

Annointed
Mar 2, 2013

PatMarshall posted:

Are you CPA eligible? Are you interested in public? Cause there should be plenty of opportunities if so.

I am interested in public, just haven't qualified to get CPA yet.

Only worked like 2 months in official accounting so I don't think that counts for CPA stuff. I do have a scholarship for CMA that I want to have.

Annointed fucked around with this message at 09:08 on Dec 4, 2022

Annointed
Mar 2, 2013

PatMarshall posted:

I mean are you eligible to sit for the exam. Aka, do you have your 150 credit hours or your states equivalent. Anyway, I'd recommend talking to career services. The window for entry level hiring for the next busy season is probably finished, but people are always dropping out so I'm sure HR and recruiters should still be interested in talking to you. LinkedIn is also a useful resource.

I'll try to see what I can do. Thank you for the advice.

Annointed
Mar 2, 2013

PatMarshall posted:

Also, not to cross any lines here, but I can get your resume at least looked at in my firm, so feel free to PM if you like.

Well I'm in California so not sure if that works out.

But in good news I just got hired into a tax firm that does community work. And soon I will be in an interview to do full time accounting with benefits.

Annointed
Mar 2, 2013

About to start my VITA this season. Any tips I should know from fellow goons before I drown in setting appontments, tax prep and clients? I wish to do my best to aid those in need without burning out.

Annointed
Mar 2, 2013

PatMarshall posted:

How many days are you doing? Generally I've just done one day and get either assigned to intake or if your experienced you go upstairs and work on prep.

IIRC January to April. I passed my beginner and advanced prep asessments and just need to get hands on experience from calls, appointments, filing forms with a supervisor and more.

Annointed
Mar 2, 2013

Ungratek posted:

Were you the person who was struggling to find a tax job? I’m honestly stumped if you were, most places can’t find anyone to hire

Specifically the one struggling to find any accounting job during my senior year. Good news I did pass all my courses so I should get my bachelor's degree of accounting.

Annointed
Mar 2, 2013

Getting a few weeks into VITA. Been pretty slow. Hope I can adjust myself into being able to be of use (and get the hiring into full time)

Annointed
Mar 2, 2013

Well that is good news for me to hear. If this current VITA to in house hiring doesn't happen I guess I got another thing going for me. Speaking of which I feel like I'm getting more comfortable talking with other prospective clients. So far I have yet to deal with anyone ranting and raving on the phone like I just damned their entire bloodline. Hopefully when that happens I can handle it like an adult instead of lashing out.

Annointed
Mar 2, 2013

That sounds suspicious not gonna lie.

Annointed
Mar 2, 2013

black.lion posted:

Last year I got my license & got some equity in this tiny firm (the only firm I've ever known)

What I've learned is I hate being someone's boss

Thinking in 5-10 years I'm going to shutter/sell this biz and just open Actually Good Bookkeeping LLC - I see so many trash bookkeepers in the area and I'm constantly fixing their ish, half of them say they "just don't do" payroll entries (bc they dont understand them), no idea how to do simple journals like depreciation or asset disposal or adjusting loan pmts to split principal/interest.... just like the most basic things

But I love bookkeeping, it's like my favorite thing to do, the idea of just having a ton of books that I do monthly and then handing off for tax prep to some other poor fool sounds idyllic

If I just kept our currently hourly rate on bookkeeping I'd make plenty I think......... am I crazy? Should I follow my dream of being BOOKKEEPER WITH AN UNNECESSARY LICENSE NO I WONT DO YOUR TAXES or is this a bad idea and I'm missing some obvious flaw

Would like to be able to do what you can do.

EDIT I GOT THE EMAIL I AM OFFICIALLY A COLLEGE GRADUATE

Annointed fucked around with this message at 02:20 on Jan 23, 2023

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Annointed
Mar 2, 2013

Epi Lepi posted:

A thing that's great about being a tax preparer is getting to touch base with all of your various clients once a year and find out how they're doing. A thing that sucks is when you find out that a client that you really liked passed away 2 months ago at only 50 years old. Kind of fucks up the whole day.

Sorry to hear that.

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