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19 o'clock
Sep 9, 2004

Excelsior!!!
I graduated with my degree in accounting and have since passed my CPA exam. Hiring wasn't bad - there always seems to be jobs available. To become a CPA you need to have public accounting experience - public jobs were harder to come by. I just got one, am on my third week, and am already questioning my career.

The work isn't bad - it's cool to know the ins and outs of financials and tax. I am happy to have learned all I know about tax law, but I'm afraid it may not be for me as a career. Working all day without talking to anyone is a bit too soul-sucking for me. Other firms may be different, but for me the lack of human interaction is harrowing at best.

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19 o'clock
Sep 9, 2004

Excelsior!!!

Hellblazer187 posted:

Is it very difficult to get that public accounting job necessary to get the license? I imagine you take all the classes and pass the test first, right? Does volunteer work count? part time work? If I could work part time or volunteer while I'm in school, I'd get licensed that much faster.

A lot of people do the exam while working in public. Some people wait years until they take the test (i.e. - you are not going to get promoted any further unless you pass the exam...).

The CPANet.com forums are depressing. There are some desperate ex-patriote kids trying to get their US CPA license and petitioning firms to let them work for free for the experience. To me, that is absolutely loving ridiculous. Why would you take an entire year (sometimes more?), working for free, just to get the credential. I'm all for professional responsibility, but let's be reasonable.

I had trouble because I never got too involved. Never joined the accounting fraternities, never went to any events, and never interned. Do an internship. DO AN INTERNSHIP! DO AN INTERNSHIP OR YOU WILL HAVE A HELL OF A TIME FINDING AN ENTRY LEVEL PUBLIC ACCOUNTING JOB!!!!

19 o'clock
Sep 9, 2004

Excelsior!!!

ZeroAX posted:

Once you pass all parts of the CPA exam the credit lasts forever.

They don't last forever; at least not in my state. State by state it varies. In Colorado you have five years to get your experience requirement satiated else it's all gently caress.

The rest is true, though. My current employer was pumped to see me pass the exam of my own volition / dime.

See Also: Rent Shopping

19 o'clock
Sep 9, 2004

Excelsior!!!

Mr. Big posted:

Do I need to get a Masters in Accountancy? Can I just take accounting courses at a community college and take the exam? Does it make a difference?

Where you take the classes doesn't matter to the accounting board, so long as they are at an accredited university (forget those ITT Tech commercials). Go to http://www.nasba.org/nasbaweb/NASBAWeb.nsf/WPECUSM and check out your state's specific guidelines on licensure. Hope this helps!

Edit: Also, get an internship!

19 o'clock
Sep 9, 2004

Excelsior!!!
I was asked in the CPA Exam Study Thread to post about my industry job.

My name is 19 o'clock and I am the Lead Accountant at a hotel and conference center in the High Rockies of Colorado. My department is responsible for handling the books of five different companies. These include two HOAs, a F&B department with four bars and five restaurants, our hotel operations as well as commercial leasing of our conference center. I have been here for three years now out of college and report to a Controller and Assistant Controller.

My usual days involve me arriving to work at 8am. I check my e-mails, phone messages, etc. I keep a notepad handy with a list of things to do besides my recurring monthly book work. These miscellaneous tasks involve guest inquiry (billing problems from their stay with us), credit card chargebacks, settling our voluminous credit card batches correctly, programming applications to automate our accounting tasks, coaching managers on proper accounting processes, and any number of audits to name a few. I also unofficially supervise three to five of our accounting department on things that I used to do and keep up on as a result of supervising.

My monthly tasks involve booking revenue for one of our HOAs as well as for our hotel and restaurants. We recently acquired the commercial property and I will be taking over those books as well in the coming couple of months. I reconcile all of our balance sheet accounts to make sure they accurately reflect our real world activities and in so doing catch to correct errors. Credit cards present their own problems between being run through our point of sale software and forwarded to our processor, and there are probably two stages of reconciling those. Accrual, reclassification, and other miscellaneous journal entries are always part of the game.

I take lunch at my desk and leave no later than four most days. I used to regularly clock overtime but now I am almost always at 35 hours a week. I have written lots of applications to do my job for me (ex-CS major), so it's pretty streamlined from where I sit. I find myself sitting down with restaurant managers a lot and looking through their records trying to make things work, so I do get out of the office frequently. I will launch cash audits of drawers in restaurants on a surprise basis during the month to ensure that things are as they should be. On the weekends sometimes I pick up bartending shifts in our banquet department for extra cash. During the winter I play music slope-side at one of our bars to fill in the extra time I have and make some loot.

If it snows more than 8 inches I don't come in until after 1pm if I can. I keep my snowboard and related apparel in my office. I have a chairlift directly outside my office door. I complain about the pay where I work, but the fringe benefits are nice. I get to walk to work every day, too. I'm hourly so I have no incentive to do my job faster or better, so that kind of sucks.

I have a criminal record so it was really tricky getting a more prestigious job out of college. This was the one place that didn't run a background check so it allowed me to not disclose my prior indiscretions. I have taken and passed the CPA Examination and would love to get my license. This will become easier this winter when I can petition for expungement of record and dominate some interviews. I am also playing with the idea of going back to school to get my Masters and become licensed that way.

Any questions or comments are welcome. I hope this satisfies what was asked of me in the other thread in describing my cushy industry accounting life. Things are very routine and it's small fires that need to be put out. We deal with collecting balances due and paying out to tons of vendors/contractors to maintain our property. It's a business first and foremost so it's a lot of "get it done" mentality versus "get it done right," which bugs me.

19 o'clock
Sep 9, 2004

Excelsior!!!

Moneyball posted:

...so how helpful would a couple of semesters and a summer session of that be in an accounting career, vs, say... economics?

I vote VERY helpful. Using VBA with Excel alone has saved me numerous hours of work and earned the praises of my coworkers. So much of accounting these days is computer oriented that being able to spew coded routines on a whim will make you invaluable in interfacing various accounting systems with one another.

We have four or five different software systems throughout our property running hotel reservations, restaurant POS, spa reservations, maintenance work orders...the list goes on. It all gets boiled down into one set of books, though. This means that we need all of these things to book into our one G/L software. It's in doing this efficiently that I have really come to shine.

19 o'clock
Sep 9, 2004

Excelsior!!!

abagofcheetos posted:

...I guess I am just having a hard time understanding how you actually manage the various books and journals and such.

We only post to our books once a month for most everything we do. Accounts payable checks get cut once a week so those debits and credits get posted more frequently. Cash receipts (rent checks, HOA dues, vendor discounts and refunds) are posted as they come in. I have one of those neat remote check deposit things on my desk.

Daily business is booked into our sales journal to record all revenue from our spa, restaurants, hotel, conference center and retail outlets. This sales journal produces one big journal entry containing about 200 debits and credits for the entire month that is posted. The balance to this is the cashier's journal that contains all of our payments received (cash, check, credit cards, wire transfers) for the month and produces a monthly 100 debit-and-credit entry. These two big entries balance one another (even though each has debits and credits, really the sales journal is the "credit" side and the cashier's journal is the "debit" side).

How do we manage the various books? It's all reconciling. Profit and Loss (income statement) is pretty easy because revenue should match our cash collections or accounts receivable debited. Same with expenses: money paid and AP credited should be our expenses for the month - before any accruals. The balance sheet requires reconcilement of it's numerous accounts but is also pretty easy once you've done it a few times.

Inventory for our five building resort is one of the most bastardly things ever. Of all the things I mentioned before we break our inventory cost centers down to about 9 or 10 different outlets. These outlets requisition from our purchasing and receiving department which has it's own inventory. Our one kitchen produces food for all of our restaurants and bars so we need to trace food cost from the kitchen to each individual outlet while also costing the kitchen for it's own mistakes and inefficiencies. I don't think I have the time to type out the entire process, really.

I'm glad that these posts have some useful information in them. When I first got hired I had no idea what the gently caress. Nothing in school would really prepare me for how complex real-world accounting could be. I'm proud to say that I have figured out where education meets the real world in terms of accounting.

19 o'clock
Sep 9, 2004

Excelsior!!!

Audax posted:

19 I just want to go ahead and say thank you for telling us your day-to-day.

Not a worry. You'll be surprised to find out how many people doing industry accounting have no scholastic background in accounting. It's a little annoying explaining to your coworkers how debits and credits work and what balance sheet accounts are versus income statement stuff, but that's gonna be any job.

19 o'clock
Sep 9, 2004

Excelsior!!!

Lamdo posted:

I'm not running a five building resort like 19 is... sounds like hell.

Speaking as the only person in my entire organization with an accounting degree who is a CPA candidate to boot: you can do this without an accounting degree. My only worry is that it seems like it's much harder to do without an conceptual background of accounting information systems that would ease in the shear volume of transactions a company of my size encounters. My education has helped me tackle problems in ways that don't involve doing what was just done in complete reverse. This isn't to say that Lamdo or others in the field are poor accountants - because it's simply not the case - but I still get a little baffled from time to time. I have seen some spectacular books assembled by people who barely got through high school. I think a lot of your success is going to be tied to who you are and not precisely what kind of education you've received.

The big one I like to do in the real world that I learned in class? Start writing out a journal entry and decide where you need to fill in the blanks. Write out a journal entry for lots of puzzles and it helps to follow the tracks that way. I am a ninja when it comes to our crappy G/L software, too. Everything is command line interface. Every command is two characters long or less.

Edit: Edited to not sound like such a dick.

19 o'clock fucked around with this message at 21:41 on Sep 13, 2011

19 o'clock
Sep 9, 2004

Excelsior!!!
Here's something I encountered today at work.

Our water bill comes randomly every two to three months from the local municipality. This bill is paid in the period in which it is received and expended directly from the income statement. We are accrual accounting based, though, and we cannot simply put an expense that spans two to three months on our income statement. How do we accrue for it?

It's a loving headache is what it is. You can't really guess what your water usage is going to be, you don't know what the billing cycle or rate is going to be either.

I take the most recent bill's rate/day and use it to calculate what the current month "should be" and use it until the next bill arrives. That means that we debit the current month for an amount and push a credit forward to the next month's expense using an accrual. In the month in which the bill is paid we have a credit that mounted from the previous month or two of estimating that hopefully gets wiped out by the debit to our water expense. It's never as accurate as I like it to be and we "catch up" when the bill is paid and we actually know what was to be charged.

Butts.

19 o'clock
Sep 9, 2004

Excelsior!!!

Sukashi posted:

How about booking it as a prepaid expense - estimate three months worth, and then amortizing it over the next three months? Kind of like an allowance for AR, but if you experience an overage, adjust accordingly.

code:
Prepaid Water                 300
   Cash                          300
(Initial payment)

Water Expense                 100
   Prepaid Water                 100
(Each month for the next three months)

We can't really credit cash because we aren't reducing our cash balances until we have the bill and are paying it. I WISH it was a prepaid like many of our recurring utilities. Hell, if it was like our electricity we would pay it monthly then accrue it to the previous month before book closing. As it stands it's an expense that we pay every two to three months with no observable frequency. We close our books monthly and cannot go back to reopen them.

I voted that we switch to cash accounting from accrual. Somehow I don't think that would go over so well with the powers-that-be.

19 o'clock
Sep 9, 2004

Excelsior!!!

scribe jones posted:

Well you use water every month so you have to recognize an expense every month. So try something like:

Then you can apply the prepaid expense (reducing liability) for the next period.

That's what we do presently. We debit the damned expense every month and credit an "other payables" every month. It's a bastard because we want it as accurate as possible but we mostly just let it wash or poo poo itself every time the bill is actually paid. Cue some manager/homeowner/shareholder/stakeholder wondering why sporadically every two to three months our expense swings wildly one way or the other.

This, my friends, is how real-world accounting can be a little frustrating. It really doesn't matter too much in the big scheme of things, but when you can dial other things in so perfectly it really drives me loving crazy.

Harry posted:

I do accounting for apartment complexes, and utility billing is the loving bane of my existence.

As long as I'm not alone in some of accounting's nonsense.

19 o'clock
Sep 9, 2004

Excelsior!!!
loving right I think I nailed it today. I think I developed a solution to this mess that will fix all of our companies going forward and keep the monthly estimated within 5% of what they need to be. loving right I'll see if I can't share it when I'm done.

19 o'clock
Sep 9, 2004

Excelsior!!!

shizen posted:

any good rage filled accounting posts about how much it sucks so I can send it to a few accounting buddies who already hate the classes a bit?

Head over to the "TPS Reports/Office Rage" thread in PYF. It basically contains everything I hate about my job. My job is fun, it's the life of an office drone that makes it terrible.

In short: when I wrote software to perform our data entry automatically it was scrapped and explained to me that "we don't wanna put anyone out of a job." I guess the 40hrs a week thing is hardwired into humans or something and we can never ever get away from it for fear of heresy.

19 o'clock
Sep 9, 2004

Excelsior!!!

Harry posted:

Uh, so what? If the management didn't want to fire someone or significantly reduce their hours what's the matter?

I think they were referring more to the reduction in hours to me and some of my staff. I'm a fan of getting paid the same even if you get the job done quicker, but there is a big 40-hours-a-week thing going on that I have yet to knock over.

This is more of a complaint against all office jobs in general.

19 o'clock
Sep 9, 2004

Excelsior!!!

CVagts posted:

Recently I found an ad about becoming a tax preparer with Jackson Hewitt

Please don't become a Jackson Hewitt tax preparer if you can avoid it. At the risk of offending anyone in this thread who work for that organization: every Jackson Hewitt preparer I've met has been an incompetent dolt who was interested in making money over doing their job correctly. It's like a running theme in the company to take ridiculous tax positions in pursuit of boosting profit. The fact that you have any accounting background puts you way above and beyond that type of sweatshop tax work.

I apologize if my opinions are off. It is my sole experience that tells me this about the fools at my local Jackson Hewitt office.

19 o'clock
Sep 9, 2004

Excelsior!!!

Admiral101 posted:

Only thing I can add to this is that HR Block is just as bad.

I wanted to mention H&R Block as well, but didn't have any first hand experience. I believe that H&R Block got into some trouble with the AICPA a few times now for touting some voluminous sum of CPAs in their employ. Because it wasn't...what's the word? True? I guess they had to change a lot of what they were falsely advertising.

19 o'clock
Sep 9, 2004

Excelsior!!!

CVagts posted:

I appreciate the advice. The fact that being a tax preparer wouldn't lead to a full-time position and seemed to be pretty shoddy pay led me not to do it (on top of the $60 class fee, you have to get a PTIN license, which costs an additional $60 and they MIGHT reimburse you for it).

Yeah, I try and dodge jobs that want you to pay them money. Real accounting firms shell out thousands per employee to regularly license CPA's, I'm skeptical of any firm that only "might" reimburse for a measly $60.

19 o'clock
Sep 9, 2004

Excelsior!!!
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...

19 o'clock
Sep 9, 2004

Excelsior!!!

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.

19 o'clock
Sep 9, 2004

Excelsior!!!

Don Markstein posted:

Also, for the CPA exam, what are considered enough classes to have enough information to start studying for it? Are intermediate accounting I and II sufficient? Since my UGPA was so low, I hope to have taken and passed as many of the CPA sections as possible before next August.

I'll answer this part of the question, as I have only industry experience under my belt and really everyone is going to want something different from their public experience anyway.

Do you already have a degree in accounting? You said you were admitted to the master's program and (if I read it correctly) that intermediate I and II are already done. I think with a good review course like Becker, no classes are necessary for studying for the CPA. What will be necessary is having the requirements for sitting for the exam done so that you can actually test. Check out the requirements for your state's application to test and then build your study schedule around when/if you qualify for the exam.

19 o'clock
Sep 9, 2004

Excelsior!!!

Mush Mushi posted:

Speaking of tax, is anybody in here actually worried about corporate or individual tax simplification? Seems like the politicized nature of our tax code makes this highly unlikely, and we are operating under the Tax Reform Act of 1986, which did such a great job at simplification.

So long as the people who make the tax law are career politicians with little to no practical accounting and tax education/work under their belt? I would be gleefully surprised if the tax code became simple enough to render the field irrelevant.

19 o'clock
Sep 9, 2004

Excelsior!!!
I spent an extra semester studying classical voice, guitar, jazz, and rock in my college's music department. Hit the 150 mark then did a contract playing music for Carnival Cruise Lines. Then I decided that...this would be better? :suicide:

19 o'clock
Sep 9, 2004

Excelsior!!!

Mush Mushi posted:

CA is going to require the extra 30 to be accounting/ethics related, because if someone is not an ethical person, 10 units of ethics study will surely fix that little problem!

I enjoy that my CO ethics exam is a take-home one. I suppose a take-home test really is the ultimate ethical dilemma, eh?

19 o'clock
Sep 9, 2004

Excelsior!!!

Moneyball posted:

"Hey boss, what am I?"

Pure gold. Gonna try this someday.

My professor in college told us that we were accountants back in undergraduate. It's what we were training to do and would never stop training to do. I don't believe there is a milestone that gives you that credential beyond study and practice to presently or eventually do it for pay.

19 o'clock
Sep 9, 2004

Excelsior!!!
I’ve been an accountant for ten years. I finally have a job where I work for a CPA and having passed the exam for fun back in 09 means I’m applying for my license.

I eagerly await becoming a bartender once I have those letters and taking it easy because LOL accounting.

(it’s seriously not a bad career but I think I need a vacation)

19 o'clock
Sep 9, 2004

Excelsior!!!

Hurt Whitey Maybe posted:

Please elaborate because I love this.

And there’s nothing like being a CPA to make you want to abandon everything and live in a van on the west coast.

I guess in school we were all spoon-fed the idea of becoming CPA's so much that that added a lot of motivation, but I was also very career minded coming into the workplace, too. I ended up being a ski bum in Colorado and doing revenue accounting and internal audit for a resort and its HOAs for several years. Not a single CPA in the organization, so I figured I'd pass the CPA on my own and begin looking for a good public job in Denver once I passed. Out of pocket everything was pricey, especially because I was making $35k a year at that point with high cost of living and student loans to repay. I found an unused deluxe copy of Becker on craigslist which was a godsend.

Life kept happening and I became pretty busy with consulting, accounting, and ultimately making money on the weekends playing music. I was having fun in the High Rockies and a CPA license seemed like it wouldn't be a big deal given my career trajectory; I was becoming much more focused on MIS, ERP implementations, and reporting in the accounting function. After I hit my 30's I decided it was too costly to keep living in ski country and that I ought to seek greener pastures on the front range of Colorado.

CPA's everywhere, now, and after a stint doing some consulting on an Oracle implementation I'm back in corporate and have hit my experience mark. I think I may have to take an additional college audit class, depending on how they feel about the syllabus for my AIS courses, but otherwise I'm good to go. Good thing, too: in Colorado if you don't get your license within ten years of passing you need three years instead of one.

Now everyone here is asking if I'm going to quit once I get my license. I have no clue, just feels good that this chapter of studying and test taking won't be for not. Once I actually have my license I'll look for a good job working a deli counter somewhere so I can be massively overqualified and wildly underemployed.

19 o'clock
Sep 9, 2004

Excelsior!!!
Holy poo poo my controller signed off on my experience.

My work for the past 14 months has largely consisted of "Drink eight cans of La Croix a day and switch to beer at four thirty."

19 o'clock
Sep 9, 2004

Excelsior!!!

Zil posted:

Sounds good, they hiring?

Afraid not...unless you happen to be a mechanical engineer?

19 o'clock
Sep 9, 2004

Excelsior!!!
You may be overqualified at that point.

19 o'clock
Sep 9, 2004

Excelsior!!!
I'm reminded of former clients who couldn't even attain the shoe box level of record keeping. Just some unsupported ten-key tapes and maybe a gas station receipt for a roofer with seven employees.

Godspeed, fellow accountants.

I'm still waiting on NASBA to either grant or deny my CPA license submitted five weeks ago. This is just like waiting for the exam scores.

19 o'clock
Sep 9, 2004

Excelsior!!!
Congrats! It’s such a relief to be done with it and reclaim your evenings. It felt really good to know you never have to take that drat thing again.

19 o'clock
Sep 9, 2004

Excelsior!!!
Any recommendations for an online college? I need two dumb classes still to get my dumb CPA credential for my dumb career choice.

I need Accounting Ethics and an additional 3 hours in Auditing.

Life is hell I've been an accountant for 10 years just give me the drat initials!

19 o'clock
Sep 9, 2004

Excelsior!!!

Lord of Garbagemen posted:

If everyone couldn't pass again then my value for salary negotiation s would go down. Just go through your local CC. Unless you live in NY or CA with their ridiculous rules any class counts.

Nothing offered locally outside of the CU Boulder that will satisfy what I need, and they won't let me take the courses unless i'm a full-fledged masters student. Plus online I can take more flexibly and sooner, too. I figured ask here just in case and gonna rip off this band-aid ASAP so I can move on with life.

Barf. Hope y'all are doing well - noisy in the office today.

19 o'clock
Sep 9, 2004

Excelsior!!!

black.lion posted:

Check out Texas A&M Commerce, I've heard good things about their online accounting program (though no idea if you'll run into the same issues wrt having to be in the full-time program to register for anything)

Online seems to be infinitely flexible about anywhere I look - thanks for the recommendation! The big thing for CU Boulder is that being in-class obviously proves more restrictive to the university resource-wise.

19 o'clock
Sep 9, 2004

Excelsior!!!

Covok posted:

My family and I had a laugh today. Local news was reporting on the accounting shortage. They said tons of millenials and Gen X are leaving the accounting industry for finance or tech for better hours and pay. And even people with promising accounting degrees don't want to do the job anymore.

i just left a small practice after a year of tax and audit. i passed the CPA exam back in 09 but have been in industry the whole time. public was interesting and I really enjoy the tax side of it, but my bosses were largely absentee/retiring and i was training myself up on everything. they couldn't cover a CoL increase and I told them this going into it last year so kept my word and left. in addition to myself we lost our newest accountant as well as one of our seniors. on my final day another accountant simply walked out. almost 50% of our headcount gone going into tax season. honestly if they had taken the time to show me more of the work and maybe made it a halfway fun place to work i would have stayed but jfc i can't care more about this poo poo than my bosses do.

it sucks. the jobs are paying...the same as they were in 2017 it feels like? am I wrong? i guess i kind of harbored this modest hope that working as an accountant would let me afford a home but after the pandemic rocked my industry work it's been tough finding a functional fit (you know...where the workplace isn't a complete shitshow and I can take more than a long weekend off at a time). this past year in public has helped me brush up a lot on tax law and FS prep across different industries which was nice. i also had the joy of learning both ProSystem Fx and UltraTax so that lives in my brain for now. I'm going to keep hunting around but I'm not especially motivated....it just feels like a weird and disappointing ecosystem right now.

re: the shortage i can definitely feel it right now. i'm spammed daily with accounting roles but nothing looks especially appetizing (i.e., economically viable) so it's a weird spot. bosses at the practice i was with even dropped the "nobody wants to work anymore" line which was pretty laughable. i explained to him that CPA licensure pays a $5k bonus and Denver RTD is paying bus drivers a $4k bonus...plus they get better benefits, better scheduling, better time off, better retirement, and i would probably even qualify for low-income housing!

last the partner told me they are picking up some offshored staff out of India that they would supervise remotely. my basic understanding is that a lot of the industry is going this route with varying degrees of success. i'm going to turn an eye back toward industry as i gained some confidence leaving last week given that pay rates are improving but maybe I'll just wait tables instead for a bit and watch this play out.

how unrealistic/dumb/entitled is my take at the moment? I think i've just had some bad luck but also the numbers aren't really lining up in a pleasing fashion as far as "having a job as an accountant" goes.

Ungratek posted:

Public firms are definitely still hiring - there’s a severe shortage of staff

i'm doing my part...?

19 o'clock fucked around with this message at 01:48 on Jan 19, 2023

19 o'clock
Sep 9, 2004

Excelsior!!!

Gabriel Grub posted:

It's very funny to me because when I was changing careers at 32 and trying to get in at literally any public accounting firm, the partners looked like they wanted to vomit at the sight of someone over 25 trying to become a staff.

that was the first thing i brought up when we talked. it sounds like these are tough times for some places lol

regardless, I don't mean to focus on why I left but I'm more interested in how people feel about the jobs/job market right now? I'm wondering if it's even worth trying to stay in the profession but also I'm seeing signs of improvement.

19 o'clock
Sep 9, 2004

Excelsior!!!

Missing Donut posted:

Any firm with 50% annual turnover is not a well-run firm, and I would not base my opinion of the entire industry based on that. As you describe, the partners are on cruise control to retirement and they are being penny wise and pound foolish.

Also, now is not the time of the year when good firms are typically hiring, so I’m not surprised that you can’t find any good openings.

the walkout by a fellow staff on my last day really hit it home that maybe we're all seeing the writing on the wall. i'm happy for the skillset boost at least.

I haven't even really begun looking yet. i'm keeping and eye out and sporadically applying to jobs that really stand out. i have some supplementary income that takes the edge off in the meantime.

Gabriel Grub posted:

The problem is that this is true for people with an accounting education even if they don't go through the public firm busy season BS. In fact, you don't have to specifically go into accounting at all.

I follow accounting Twitter and listen to accounting podcasts and half of what they talk about is no one going into accounting, and especially not into public. It's not an individual firm problem, it's endemic to the profession.

it's loving dire haha. the r/accounting and r/taxpros subreddits have routine discussions about how the industry is a little mangled and depressing. as others have pointed out there's lots of opportunity but it's going to take some shopping around.

19 o'clock
Sep 9, 2004

Excelsior!!!

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

you're not crazy. my big takeaway from public was "i should start a bookkeeping business and dominate the competition" for the same reasons you listed. lots of simple stuff being missed.

more importantly: it sounds like accountants are in short supply right now. probably should charge more than your current bookkeeping rate tbh

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19 o'clock
Sep 9, 2004

Excelsior!!!

Epitope posted:

How hard is it for y'all to hang out a shingle? Am I naive to think all you need is a computer and some software?

that's my plan unless I find some cool job in the near term.

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