[golfinz]

Originally Posted by TurboFan

Good luck with the test. That's a helluvan accomplishment. I have a couple cpa's in the family. That exam is there with the bar and PE.

Thanks!

[ac1208]

i'm doing an accounting major as well, have a minor in economics.
accounting is not the most interesting major, but its one thats going to open lots of doors for you. Once you get a CPA (or in my case CA for Canada), you get tons of flexibility. I don't really plan on sticking with accounting after i get my CA, i will most likely go into finance just cause it is more interesting. but as Golfinz said, there will always be a need for accountants, and its the safe (but hard) path to take. You really have to think hard about what you want to do. As i've said earlier, marketing is ok to major in, but there are some personalities you'd have to have to really succeed...creativity, interpersonal skills. Definitely do not do just a bus admin major unless you plan on doing grad school in something else.

[Seminole]

Originally Posted by ejazbmw

how so? i mean i guess it depends what kinda job it is

I'm in audit and it is nothing like what the class was like.

Every firm has their own methodology and programs that implement that methodology. Take the work I'm doing now. In college, Audit was all about risks and assertions (that's simplifying it a lot). In the real world as an Associate you don't deal with any of that. The main thing you do is substantive procedures and work papers. For instance, I'm working on a lot of 401K's right now and I mainly do testing on contributions, distributions, loans, eligibility, forfeitures, and R.O.I.

The Managers and Partners are the ones that really deal with the planning and risk assessment. I just do the tests using the numbers they give me for T/E, material error, etc.

It's hard to explain without you seeing it for yourself. But to put it another way, the firms expect you for the most part to know nothing except what a credit and a debit is. They will teach you everything you need to know to do your job.

[golfinz]

Originally Posted by Seminole

I'm in audit and it is nothing like what the class was like.

Every firm has their own methodology and programs that implement that methodology. Take the work I'm doing now. In college, Audit was all about risks and assertions (that's simplifying it a lot). In the real world as an Associate you don't deal with any of that. The main thing you do is substantive procedures and work papers. For instance, I'm working on a lot of 401K's right now and I mainly do testing on contributions, distributions, loans, eligibility, forfeitures, and R.O.I.

The Managers and Partners are the ones that really deal with the planning and risk assessment. I just do the tests using the numbers they give me for T/E, material error, etc.

It's hard to explain without you seeing it for yourself. But to put it another way, the firms expect you for the most part to know nothing except what a credit and a debit is. They will teach you everything you need to know to do your job.

+100000000

Well said!

[jun]

I would definitely stick with accounting or finance. Just keep on trucking - it will pay off in the long run (I did BS in finance and MS in accounting).

For all those what work in public accounting, what industry groups do you work in? financial services/manufacturing/private client/etc? Do you work at a Big 4?

I'm going to use this thread as motivation for studying the CPA. Currently studying for REG... I was suppose to take it Wednesday but I accidentally signed up for BEC on the 1st, so now I am taking REG on the 6th. Since I have 5 extra days now I'm finding it tough to keep motivated. Hopefully it will pay off! Only one more exam left after REG, given I passed FAR.. which I should know about tomorrow...

[Seminole]

Originally Posted by jun

For all those what work in public accounting, what industry groups do you work in? financial services/manufacturing/private client/etc? Do you work at a Big 4?

Currently I am doing an internship for the summer. The industries I've worked/will be working on are:

Consulting and Engineering, Manufacturing, and Healthcare. There is one more client but I can't remember it right now...

[golfinz]

I work at a big 4 firm and am in the private client services group. And GL on reg...I've passed all but FAR and am taking it for the first time on Wednesday...I've passed them all on the first try so far. Any tips for far? Pm me