Heather wrote:
- quote -

you can also get couple of expert suggestions and guidelines
by big four professionals at global Big4 alumni.

That's the place where you can share your ideas and seek
suggestions.

Thanks,

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Gene E. Utterback, EA wrote:

- quote -

Also, make *sure* the school is accredited.

Moderator: Accredited by AACSB

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Quite frankly, I'd suggest going the CFA route versus the
CPA route. The accounting profession is in a major state of
flux currently and its uncertain where the chips will fall.
The only thing recently going for the profession is the
Sarbanes-Oxley Act (and that is likely to be pared back by
Congress if you haven't heard), otherwise all the signs for
accounting are negative: outsourcing of tax preparation and
finance departments to India, mass computerization of most
accounting tasks, liability exposure in sole practice, and
difficult career conditions in general. The best career
trajectory you can have as an accountant is to start work
with a big four firm, but don't expect meaningful
advancement (particularly pay-wise) for 4 or 5 years. I was
an IT consultant with 2 big four firms in the 90's and we
had a vast number of accounting staff coming over to the IT
consulting side looking for better pay and more stimulating
work.

Sole practitioner tax work is stimulating and can be
profitable but the hassles are many and typically clients
aren't crazy about spending much for a service that's meant
to save them money anyways. Only sophisticated clients who
understand what's involved will appreciate why your services
on a business return could be worth $1500 and up. Other
(less sophisticated) clients will balk at paying anything
higher than $300 for what they view as filling out forms and
copy service.

Life in a Big Four firm isn't horrible, however, and the
training is top-notch, but the personalities and partners'
whims, greed and indulgences can be suffocating. Think of
what kind of environment would allow all the auditor
irregularlies blanketing newspaper headlines for the past 5
years and ushering in the huge lawsuits against the Big
Four.

Years ago I came out of grad school with a concentration in
investment analysis and I'm sorry I didn't follow that up
with a CFA. There are now almost 75,000 CFA's and many jobs
are now requiring it. Its highly stimulating, financially
rewarding and doesn't suffer many of the drawbacks of an
accounting career. Competition is strong and expectations
are high, however, and the CFA program is far tougher than a
CPA.

Another alternative would the CMA program which is more
similar to the CPA. There is decent demand for CMA holders
and the salaries are often higher for them since its such a
smaller field than CPA's. While CPAs have a great name in
the minds of the general public (and I justifiably credit
the AICPA for that), those in industry who do the hiring
look more favorably on the CFA and CMA as credentials.

As a final point, I think you should look into the reasons
the AICPA has had such concern lately about the general
decline in new CPA's and accounting majors. Surely, the big
firms want as great a supply of young, qualified accountants
(to hire from) as possible but they also want as big a union
as possible to survive against the many shifts and exposures
(both legislative and market-wise) in industry.

Picking a career is as personal a decision you can get and I
only mean to say that you should understand the market
conditions and career options fully before you dip your toe
in. Please do your own research and follow your own
instincts.

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"ts2003" <tracinicole03[at]hotmail.com> wrote:

- quote -

I agree with our moderator - enroll in a school that offers
a decent accounting program. Ask if their program is
structured towards getting students past the CPA exam. Ask
lots and lots of questions of the instructors. PERSONAL
NOTE - in my studies, it became very apparent very early in
Principles II the students that were cut out to work in the
field. Most of those that were still lost at mid-terms for
Principles II never made it to the professional level
courses and those that did struggled every single day.

Accounting is NOT for everyone. While it can be learned,
just like almost anything else, a natural affinity for the
work makes things much easier.

Good luck,
Gene E. Utterback, EA, RFC

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I am looking to get into the field of Accounting, and later
getting my CPA license. I am just looking for some pointers
for this career choice.

Moderator:
Accounting is an academic discipline in which falling
behind is a mortal sin because you cannot play catch-up.
Faculty get paid for explaining things to you. If you do
not understand, ask questions until you do understand.
Intermediate Accounting I & II are like war, i.e., there
are no heros - only survivors.

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