CPAnet Forum: Some questions

Active Topics

Memberlist

Help

Career Talk
CPAnet Forum : Career Talk

Topic: Some questions (

Topic Closed)

Author

Message

<< Prev Topic | Next Topic >>

PHStudent
Newbie
Newbie

Joined: 11 Sep 2011
Online Status: Offline
Posts: 4

Posted: 11 Sep 2011 at 15:47 \| IP Logged

Hello I'm a High school student who has to do a research paper on a career I have plans of getting into and I am required to ask a person who has the occupation of the career I am wanting to go into some questions about their job. Since I'm here its obviously accounting.

I've tried emailing a couple of accountants from my state and I have yet to get a reply from anyone of them and my due date is coming up.

If you could help me out by answering some of the questions below, I would really immensely appreciate it.

What is your typical work day like?
What is the career outlook for this job?
Why did you choose this career?
How many days out of the week do you work? Is your schedule fairly flexible or is kind of set?
Would you say job security for someone starting out is stable, even at these times?
What kind of benefits does your job provide?
Is the work complicated or is it something that will become easy with time?

db729
Major Contributor

Joined: 22 Apr 2010
Online Status: Offline
Posts: 256

Posted: 11 Sep 2011 at 17:20 \| IP Logged

Ahh I remember doing that project when I was in HS. Those are great questions, but in my opinion they require pretty thorough answers. If you want to give me your email, we can talk through other mediums of communication to give you a better idea. But to briefly answer your question, I work for a Big 4 firm as an auditor.

1. I spend my day reviewing documents, researching the company, talking to management, coaching other stuff, etc. It varies a lot depending on the client and the role that I take on that client. But I assure you, I don't spend all day looking at invoices and "counting beans." Though don't get me wrong, there are a lot of menial tasks.
2. Career outlook is quite good. Accounting in general is a very stable career, especially in comparison to other fields of business (ie consulting & banking). However, I would say your career progression in accounting is really slow without having gone through public accounting first. The best way to start off your career is to start in Big 4.
3. Accounting isn't a career choice for me, it's a stepping stone. Public accounting gives you many opportunities to learn and skills that are transferable to other areas of business.
4. I usually work 45-50hrs a week during non busy season. During busy season, I work at least 60, usually more. Although I've also worked 90+ hours a week before too. It varies, but it's not a 9-5 job. There's a lot of flexibility if you prove yourself. I don't have someone constantly looking over me and telling me what to do. As long as I get my work done accurately and efficiently.
5. Yes, it's quite stable in public accounting. Granted a lot of people were laid off back on 08 and 09, but nothing compared to finance.
6. Pay wise, it kind of sucks compared to amount of work you do initially. But you get consistent raises and the money really comes when you make partner. There are a lot of vacation days compared to most other companies. There are a lot of benefits, but the biggest is the amount of responsibility and learning you get.
7. Auditing itself isn't complicated. But the profession can be difficult because there's a lot of pressure to perform at your best. You generally work with every smart and driven individuals, so there are high expectations.

I'm not sure how much research you've actually done, but what I've said above is at a very very high level. Whether you do it for your project or for personal enlightenment, make sure you dig deeper.

PHStudent
Newbie
Newbie

Joined: 11 Sep 2011
Online Status: Offline
Posts: 4

Posted: 11 Sep 2011 at 18:30 \| IP Logged

Thank you so much. I thought I was just going to have to make up something for my English teacher because no one seemed to be giving me answer.

I will make sure to dig a bit deeper. I'm going to have to check into what I'm getting myself into.

I guess I should ask. Forgive my ignorance but is there a difference between a CPA and a ordinary accountant? A CPA degree requires 5 years of schooling correct? Whats the difference? More job opportunities?

Thanks again.

db729
Major Contributor

Joined: 22 Apr 2010
Online Status: Offline
Posts: 256

Posted: 11 Sep 2011 at 18:41 \| IP Logged

PHStudent wrote:

CPA is just a certification essentially saying that you have proficient knowledge in accounting. It doesn't require 5 years of school per say. It requires X units of accounting and X units of business related courses (units vary with state I believe) to be eligible to sit in for the CPA exams. After passing the CPA exams (4 parts), it requires you to have at least one year of accounting experience under a licensed CPA. So basically you need the required units to sit in for the test, pass the test, and one year of experience to become CPA licensed. You don't need to major in accounting or business, you can take the units at a community college or as a minor or just for fun. You just need the units some way or another.

In general, CPA equate to more job opportunities and better pay. For the most part, an employer would rather have you to have your CPA. In public accounting, you can't be promoted past a certain point without your CPA. If you look at job postings for accounting positions, almost all of them say CPA preferred or CPA required. These days, having a CPA is more of a requirement more than anything. There are just too many people coming out of public accounting firms that have their CPA, it's more of a norm at this point.

So I guess to answer your question plainly, a CPA is simply an accountant that is designated as more knowledgeable by having the necessary book knowledge and experience. There are plenty of accountants without CPA that are really smart, but for whatever reason did not get their CPA. It's kind of like a MBA. You don't NEED one, but having one does help.

Smart
Major Contributor

Joined: 03 Jul 2009
Location: United States
Online Status: Offline
Posts: 458

Posted: 12 Sep 2011 at 13:19 \| IP Logged

db729 wrote:

In general, CPA equate to more job opportunities and better pay. For the most part, an employer would rather have you to have your CPA.

I have to disagree. I'm a CPA and only make $38k a year. Whenever I apply for jobs, having the CPA license versus other non-CPA accountants has made no difference. My resume gets ignored just the same. I make the exact same pay as I would if I had no CPA license at all.

__________________
"He's a CPA, but he did stay at a Holiday Inn."

Page of 2 Next >>

Printable version

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum