Post # 1
Member
3306 posts
Sugar bee
I just finished the CPA exam (and the ethics). Waiting for a CPA at my job to certify me. I am in government so most people here don’t have their license because it isn’t necessary.
That said, I am considering going back to private because government pays way too low but I know I will miss the government perks, such as my extra day off during the week, my TSP matching and the 59 minutes for holidays.
Trying to to see the direction other CPAs took after completing the exam. Big 4? Regional? Local? How was your experience?
Post # 2
Member
40 posts
Newbee
Congratulations! I’ve done a lot of things since getting my CPA. I started out at a large regional public accounting firm. Then I worked in the tax department for the largest electronics retailer for awhile and then was offered a job at a very large private company. After that my fiancé and I were looking to move back to his hometown which is a town of 20,000 and I chose to go back to public accounting. Honestly it’s the type of work I enjoy most and I work less than I did at some of the private companies I worked for. I enjoy the small local firm I work for now the most because the people are the best and I get more varied work and projects because our work is too small to be specialized. One of my good friends I started with has followed the same path as me. Moral of the story is there’s lots of options!
Post # 3
Member
3306 posts
Sugar bee
jfrey1028 : thank you so much!!! Happy to be done with all the studying.
Post # 4
Member
40 posts
Newbee
I know it’s nice to have time to have a life!
Post # 5
Member
7903 posts
Bumble Beekeeper
armychica06 : Off topic, but what is the 59 minutes for holidays?
Post # 6
Member
222 posts
Helper bee
jfrey1028 : armychica06 : Can I piggyback off this question and ask if you think it was worth it? I’m seriously considering taking accounting classes for 2 – 3 years at a local school, which will then qualify me to sit for the CPA exam. I am 15 years into my current career and find it frustrating that in working with my clients (small and mid-size businesses) I have to rely upon an accountant to interpret financials and advise on certain topics so that is part of my motivation. The other thought is that at some point I want to do something else, maybe at the 20 year mark.
How long did you all study? Is it easy to get a job at as an accountant once you pass the CPA exam?
Post # 7
Member
624 posts
Busy bee
Sweetcece : my BFF is actually an Audit Manager for Deloitte. When she studied she bought Becker (I used them for my CFA exam).
She studied over 200 hours per section, there are 4. The pass rate is averaging of 40%. Next to the CFA, the CPA is one of the hardest exams out there so study time is necessary.
Yes it’s easy to get a job with a CPA designation.
Post # 8
Member
40 posts
Newbee
I think it was. Every interview I’ve been to has mentioned my CPA as one of the reasons they called me in. I know my current job pays significantly more for someone with a CPA than someone with work experience or just an accounting degree. There’s a shortage of CPAs right now so it’s. dry easy to get a job. They’re also (starting to) change the old ways of working a million hours a week during tax season in public accounting. Some places are still like that bust many are learning you can’t keep people around making them do that.
Post # 9
Member
3306 posts
Sugar bee
craigslistgirl : it is this thing in some agencies in DoD when they let you out 59 minutes before a holiday. If you are flexing or compressed work schedule, then it is your last day working for the week before the holiday. It isn’t a big deal but I haven’t worked a job yet that just said- OK every holiday you can go home an hour early and not charge your leave.
Sweetcece :
I think it is worth it- especially if you already have the accounting degrees. I studied between 100- 150 hours each section. And even when I only passed a few sections, I already had companies after me. It is very easy to get a job.
But if you don’t truly desire the designation, the process will make you miserable. The pass rate is low, between 47- 52% depending on the section. Most people who take it will fail at least 3 of the 4 sections. However I feel it is better to have it and not need it than to not have it and wishing you did.
Post # 10
Member
222 posts
Helper bee
armychica06 : Hmm, so I don’t have the undergraduate accounting degree, which is why I am waivering. I was in undergrad 18 years ago and studied poly sci and criminal justice administration – pre law (no biz classes at all). I passed a 2 day bar so the test itself doesn’t scare me….but of course that was 15 years ago. This 2 year program includes just accounting level classes and then you are qualified to sit for the CPA exam without having to return to school for a masters of accounting or some other really expensive degree that requires full time study.
forgotusername : jfrey1028 : Thanks for the input. I believe you also have to work for someone for maybe 1000 – 1500 hours before you receive the CPA designation. Does that sound right? I’ve had my own business for 8 years so that might be a bit of an adjustment, but then again I worked for firms early in my career so I know I can do it. Lots to consider….
Does anyone know a person who set up their own accounting shop? That is more of the direction I would go. Maybe someone who “paid their dues” and then created something on their own?
Post # 11
Member
40 posts
Newbee
Depends on what state you are in. Here there’s a year of work experience required but it’s very broad (basically if you work in an office you qualify doing anything business related.) When I passed you didn’t even need your supervisor to sign off on it it just had to be a CPA who could vouch that you completed the time. I don’t believe they even had to work with you. I know lots of people who have started their own accounting firm. Lots of people work for years and start their own practice. My dad was a CPA for 40 years and had many friends who went this path. It’s getting a little harder to do in bigger cities where large firms run he show but still very prevalent in smaller towns.
Post # 12
Member
3306 posts
Sugar bee
Sweetcece : honestly- I don’t think this is for you. It would be if you knew for sure you desired the designation. I mean Accounting isn’t easy. It is combining principles, regulation, policy and law into math. Then, as of right now, they require you to know international standards as well. I am personally for ANYONE going for it, but this is a frustrating process. If you don’t really want it, then it is going to make you miserable.
Post # 13
Member
3306 posts
Sugar bee
Fun fact- approximately 1.6% of the US population are CPAs. There is a reason why people who have accounting degrees never completed the CPA process. I am just saying this for you to keep this in mind- I would hate for you to go down this path, then realize you don’t want to continue after you are deep in the process.
As for work- it depends on your state. I am from CT- there it is 2 years. I currently live in the DC area- here it is one year experience (2000 hours).
Many people start their own business but that may be very tough if you are close to a big city
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