Category: Career Center

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Big 4 Careers: Can I Get into the Tax Practice?

From the mailbag, we have a young lad who is about to go through his first recruiting season looking to land a Big 4 position. He requested that he got some advice from those of you in the biz and that have been through the process.

If you have questions about your career, recruiting, choosing a firm a problem/challenge at work (wonky technical questions will be ignored) or whathaveyou, send us an email at advice@goingconcern.com. In the meantime, let’s oblige this young man.

The details:

I need help (advice from professionals) deciding whether I should apply for tax jobs, or audit/assurance jobs. I want to work for one of the Big 4 firms, but I know that may be lofty since I didn’t necessaril path to a career in accounting. Below is a brief narrative so that you may better understand my experience and qualifications

I am a senior at the University of Memphis (Memphis, TN) and will be graduating with a BBA in Accountancy in December 2010. I work full-time during the day to provide for my family and I attend classes at night. I work for a small bank opening new accounts, but accounting is the field I would like to have a career in. I am 24, so not much older than many of my accounting peers, and this is my first degree. I currently have an overall GPA of 3.35 and a major GPA of 3.89. I am the VP of Development for my Beta Alpha Psi chapter, and I have attended BDO’s 2009 Pathway to Success Program. Due to a change of major from Biology to Accountancy several years ago, I will have 156 credit hours when I graduate in December. I have enrolled in a Becker course beginning later this month, and plan to complete three parts of the CPA exam in the final window of 2010 and the fourth in the first window of 2011. Firms are now posting staff positions and internships on the career and employment website at my university. The time has come for me to go through my first recruiting season, and I am experiencing some anxiety.

As I mentioned earlier I am really interested in the tax specialty, but I am most interested in working for a public accounting firm. I have been told by several people in academia that a masters is necessary for tax staff, and about 90% of the entry level tax staff positions are filled with individuals who have had at least one internship. I must delay my advanced degree for a few years since I am out of cash and do not want to incur debt via student loans. I have hopes, though, that having at least some portion of the CPA exam passed will give me a leg up in the battle for staff positions at accounting firms. Also, an internship is not really an option at the current time, unless it is absolutely necessary.

I would like to know if someone with my education and experience would even be considered for a full-time tax staff position at a Big4 firm. Should I apply and hopefully interview for tax staff positions? Should I focus my attention on landing an audit/assurance staff position? Big time public accounting is where I want to be, and I know I have what it takes to make it there.

I hope you can publish my question, and ask for feedback/comments from professionals that work at big 4, regional, and local firms.

Okay, so lots of “interests” to wade through here. Let’s break these down. You say, “I am really interested in the tax specialty, but I am most interested in working for a public accounting firm,” but then you also say that you want to work for a Big 4 firm.

Depending on how you rank the importance of these three goals, that should give you the answer to your dilemma.

Let’s say working at a Big 4 firm is the end all to be all for you. You might have an easier time getting in by taking a job in the audit practice. A market like Memphis won’t be hiring too many tax professionals and it is likely that they will have advanced degrees. If there are tax positions available, by all means apply and interview for them. To answer your question, a Big 4 firm interviewing for tax positions will probably listen to what your interests and career goals are but you might not fit their ideal candidate criteria.

To address a couple other of your issues – having portions of the CPA may help you but is by no means is it a huge advantage. Also, if putting off an internship is what works best for you, then understand that will put you at disadvantage to those that have had them, especially since the Big 4 is making full-time offers primarily to their interns.

However, your GPA, work experience and BAP involvement are all good things so chances are, a Big 4 audit practice will give you a serious look as long as you interview well.

If you land the gig, you could do some time in audit and then explore some rotational opportunities a couple of years down the road, although again, those are probably extremely limited in a small market like Memphis.

On the other hand, if you are truly interested in working in a tax practice, it might easier to go with a regional or local firm to get the work experience you want. Since it sounds like you’re a good candidate, you can be selective about who you ultimately choose and what areas of tax you want to work in. Once you have a few years of experience and you still want to work for a Big 4 firm, it might be easier to get into their tax practice.

For the rest of you out there, dispense with your experiences and advice. Does he have a chance at tax? With Big 4? Should he just give it all up and join the Peace Corps? Help him out.

Three Things to Remember Come Goal Setting Season

Final reviews are a thing of the past and – at least for some of you – so are the days of terrible raises. Things seem on the up and up at most firms. That said, focusing on FY2011 is crucial for your career. Hopefully the potential for raises will be consistent if not better than this year’s, and but you need to be thinking about everything now.

The typical HR mantra is, “your goals need to be realistic and attainable but should also stretch you to push yourself.”

Yes, finding the middle ground between cruisin’ down Easy Street and setting yourself up for failure is crucial. So, what are you supposed to do?


1. Firm recommended goals: Every firm supplies their employees with suggested goals, and I’ve always recommended that people should use these at a starting point. Why? Two reasons:

a. Your managers and partners know them. While going through performance management training, partners and managers receive the outline of sample goals as part of their training materials. HR says, “Look, these are the goals your staff members should be shooting for” and the room goes “Ahhhhhhhhh.” Using these goals will be familiar to your superiors as you begin the review process. However, it’s important to…

b. Customize the goals to be you As valuable as the sample goals can be as a template for you, it is important that you adjust them to focus on your unique ambitions. This is your opportunity to voice your needs, i.e. – involvement in planning the audit, volunteering at firm events, or getting involved with recruiting. Showing your commitment to the firm away from the day-to-day engagements is just as important as being committed to busy season.

And for the sake of everything holy – PROOFREAD. Passed your CPA this year? Remove all of the passing-the-CPA related questions. Missing details like this will make your superiors question the effort you put into the process; don’t give them that option.

2. Review last year’s goals: Roll-forward successful goals. Re-evaluate goals you didn’t reach or didn’t surpass to your satisfaction. Demonstrating and documenting continual improvement is key.

3. Speak with your mentor: If you were promoted this year, congratulations! Newsflash – you’re in for an incredibly difficult year. New senior staff members and managers are put through the wringer, and rightfully so. Senior management doesn’t like being wrong and weeding out misguided promotions early is important to their long-term planning. Seek out the guidance of at least one person who was in your situation the previous year. What would they have done differently? Did they overshoot on a particular area in their goals? What’s one thing they recommend including in your goal setting?

Still unsure of what you should do? Talk to your peers, flip a coin, or Google it. Whatever you do, don’t miss the submission deadline.

Unless – of course – you actually want to be blacklisted.

(UPDATE) CPA Status and Promotions: What Is Your Firm’s Policy?

With all the news on raises, promotions etc. etc., a reader got in touch, asking the following:

Can we start a thread to discuss when you need the CPA designation if you want to move up at various firms by practice (audit, tax, specialty groups, etc.) and what exceptions there are?


The idea jumped off of a recent comment on yesterday’s post discussing E&Y’s raises keeping pace with PwC:

From what I can derive, PwC was bleeding staff in the early part of the year to the best of my knowledge, requires more time to get promoted up the ranks (3 years to senior compared to 2 at all other firms) and the requirements are higher (must have passed the CPA exam). The higher raises, at least from PwC’s perspective, may be their way of staying competitive with the market because, without higher pay, PwC is not competitive. E&Y may also be attempting to compensate but I am not entirely sure what for.

So three years to earn a promotion to SA at PwC isn’t news to us and some – dare we say, many – may argue that should be the standard timeline for associates in the Big 4/second tier firms. You can debate that all you want but what about the CPA requirement? If PwC does in fact require their associates to have their license before making SA, that’s nothing if not a motivation to finish the CPA ASAP. At the same time, there are many SAs that don’t have their license that do excellent work but for whatever reason are still stalling on obtaining the CPA.

The reader continues by asking:

For instance, if you have an Enrolled Agent, can you still make manager if you’re in tax, etc. [?] I’m also curious about any place that will demote anyone of a certain level who hasn’t gotten their CPA in the last couple of years. KPMG has threatened it for managers in tax who are qualified to sit for the exam (U.S. accounting degree with enough hours), but I wonder if that’s more empty talk.

That’s the first we’ve heard of a demotion for not having a CPA but frankly, that seems appropriate. If the manager has an EA, then perhaps that’s a suitable exception, although the idea of a Big 4 tax manager without a CPA just doesn’t seem right. For many, the lack of the those three precious letters means the end of their careers at the Big 4, so it’s definitely an issue.

So indulge our reader and let us know your firm’s policy regarding promotions and CPA license status. Does it matter? Are there exceptions? Should your performance make up for your uncanny ability to fail FAR? Talk it out.

UPDATE: We obtained a copy of the KPMG policy mentioned above and it appears to be FSF with a few exceptions for those that are “CPA Eligible” and certain “waivers.” Also there’s this, “In circumstances of noncompliance without appropriate waiver, professionals may be subject to disciplinary action, including but not limited to demotion or termination from the firm.”

KPMG Tax Promotion Policy

Job of the Day: Peak6 Investments Needs an Assistant Controller

Peak6 Investments is looking for an experienced accountant to join their team in Chicago as the Assistant Controller.

Qualifications include a Bachelors Degree in Accounting, at least five to seven years of experience with two years in a senior role required, CPA and experience with Dynamics GP are strongly preferred.


Company: Peak6 Investments, LP

Title: Assistant Controller

Location: Chicago, IL

Responsibilities: Perform assigned monthly, quarterly, and annual general ledger closing and reporting processes; Perform journal entries and complex account reconciliations including identification and remediation of all issues in compliance with audit requirements; Assist the Controller in operational and transactional processes impacting the financial statements, including closing/reporting, cash, intercompany expenses and accounts payable; Prepare income statement and balance sheet packages and related comprehensive analysis for variances and trends; Participate in the internal and external audit process; Collaborate with teammates and management to identify, design, and implement process improvements and policies for greater efficiency; Actively participate in improvements to and recommendations for company outsourced systems impacting financial reporting and processes; Communicate with and advise business leaders within your given business unit; Understand and apply regulatory business rules to accounting procedures; Ensure that adequate internal financial controls exist in the business to safeguard company assets and limit risk; Participate in and lead ad hoc projects as needed.

Qualifications/Skills: 5-7+ years of progressive accounting experience with at least 2+ years in a senior role; Bachelor’s degree in Accounting required and Certified Public Accountant (CPA) licensing strongly preferred; Prior Broker Dealer or similar industry experience preferred; Experience with Dynamics GP software is preferred; Minimum 5 years experience with automated accounting systems in a customer service, high volume, deadline driven production environment is required; Strong analytical ability, including expert level MS Excel skills, and perseverance to solve problems with high attention to detail; Strong month end close experience; Ability to professionally interact with employees and management; Extensive knowledge of general ledgers.

See the entire description over at the GC Career Center and visit the main page for all your job search needs.

More on Cost Accounting Careers with IMA Chair Sandra Richtermeyer

About two weeks ago, one of our Twitter followers was curious about how someone might land a cost accounting position. We put the question to the group and there was a little discussion but something told us that our inquisitor wa

We recently spoke with Sandra Richtemeyer, Ph.D., CMA, CPA, the Chair of the Institute of Management Accountants for 2010-2011 to discuss cost accounting careers in more detail. In addition to her role at the IMA, Dr. Richtermeyer is chair of the Department of Accountancy in the Williams College of Business at Xavier University in Cincinnati, Ohio.


Going Concern: We’ll just start off by getting your reaction to our reader’s question – “How would you suggest getting into a cost accounting position?” And the previous post’s comments “WHY would one get into cost accounting?”; “[N]obody likes cost accounting.” and “[I]n its true sense does not exist.”

Dr. Sandra Richtermeyer: We represent the Institute of Management Accountants so we usually place the focus on management accounting versus cost accounting. Cost accounting is one aspect of managerial accounting and when we say “management accounting,” that’s another term that many people don’t resonate with, as there aren’t a lot of positions out there called “management accountant.” You do hear job titles like “cost analyst” and “financial analyst,” so sometimes it is easier to explain these roles.

At the IMA, we like to take a look at the focus inside the organization and really try to look at the broad perspective of management accounting – which includes cost accounting – where people are really more involved with strategic decisions that influence business actions and activities and in much more significant ways than just what people would ordinarily perceive.

The last thing that you said, “does cost accounting really exist?” We certainly see positions called “cost accountant” but they are so narrow in scope and it’s not really reflective of what’s happening with the people that are charged with that important element or aspect of accounting.

GC: So it sounds like cost accounting is a red-headed step-child of sorts – why do you think there are so many misconceptions about cost accounting jobs?

SR: I think because people don’t see the big picture and how information produced in cost accounting and related activities plays a role in many business processes. They typically think of a very narrow scope that’s part of a costing decision or the actual calculation of cost of goods sold, budget variances or manufacturing costs. I don’t think that it is clear how accountants who have costing responsibilities are often working with key leaders in the organization who are determining product or service mix and making critical strategic decisions. They often need to spend a lot of one-on-one time with decision makers or teams to consider different analyses and work through various scenarios to help guide the right outcomes. All too often, cost accounting is perceived to be a stand-alone activity. Rather, it plays a really important role in an organization’s value chain.

GC: That takes me back to the financial analyst job I had and how many different people I worked with providing them with various data and analysis. Communication was a big part of that job.

SR: I think the biggest misnomer is that people don’t realize how important communication skills are for accountants in general and that they are critical for these types of roles. They picture people working independently in an office by themselves perhaps creating spreadsheets or entering information in an enterprise system but there’s so much interaction and people don’t seem to understand that. The concept of a cost or financial analyst being in an internal customer service role is often overlooked as well. It can very much be an internal customer facing role and even extend outside the organization with vendors or players in the supply chain.

GC: Is there traditional path into a “cost accounting” career?

SR: Well, I think there’s a few we can cover:

1) A typical starting point is to get an accounting or finance degree. A few years ago when the economy was stronger, a lot of cost accounting positions were filled by people with finance degrees while the accounting majors were frequently starting in public accounting. In a large company, someone might start in an entry-level position where they work in a more narrow accounting role where they do cost accounting. Alternatively, they may start at a smaller company and have a broad set of accounting responsibilities, with cost accounting being one of those. Smaller companies most likely don’t have job titles like cost accounting or financial analyst, because accountants have to do a lot more. We certainly hope that people who choose this path understand the importance of becoming a Certified Management Accountant because it’s a great credential for someone entering those types of jobs.

2) Many people might start out in public accounting as auditors and they may work with clients that have very specific product and service costing needs. After a few years of working as an external auditor, they might step out of that role and go work for a client and have responsibility that entails cost accounting. That’s not uncommon for someone with 2 to 5 years of public accounting experience. Someone with more experience than that would likely step into a broader role that is closer to a controller or CFO role, depending on the size of the company.

3) People unexpectedly find themselves providing these services. They might have started out as a business analyst and then they might find themselves providing a lot of costing information for people within the organization. The next thing they know, they are a cost accountant – either in title or in substance!

4) It’s surprising to me how many MBAs end up in controller-type positions and sometimes the path to controller, depending on the organization, is through a business or financial analyst position. I talk with a lot of MBAs that want to learn more about accounting because they find themselves essentially doing more and more cost analysis in their roles. The cost accounting piece may not be their entire set of responsibilities but it’s something they have significant responsibility for and they see it providing them with a lot more career advancement opportunities down the road.

GC: So what are some examples of some jobs for those that are interested in cost accounting? Or titles that people can look for when they’re job hunting.

SR: Well, we need to think about job titles and also the words used in a job description because in accounting, the title varies widely depending on the size of the organization. Larger companies have more specific titles and smaller companies tend to have more general titles. Some common titles are: General Accountant; Staff Accountant; Financial Analyst; Cost Analyst; Cost Accountant, to name a few.

Job descriptions likely list responsibilities such as: cost and profitability analysis, maintenance of costing systems, budgeting, interim or internal financial reporting. Often times they are a bit more specific and may include activities related to customer profitability analysis, product and service costing support, or variance analysis. Those are some key words that are going to pop out.

GC: What resources does the IMA provide that are useful?

SR: We have an amazing social network site, LinkUp IMA, for accounting professionals where our members discuss all kinds of accounting topics. This provides a great networking platform for professionals in specific roles to connect with each other and share ideas in an online forum.

We also have many chapters all over the world that allow accounting professionals to meet face-to-face and discuss trends and issues or concerns they deal with in their roles. We also have a strong certification program, the CMA. When someone makes the investment in themselves to obtain their CMA certification, they demonstrate that they are prepared not only for cost accounting, but for the many strategic roles that accountants are involved in. The CMA can provide the basis to launch them into a career path that will help them gain more experience and move into financial leadership roles. Our certification program provides a lifetime of value.

Job of the Day: Fannie Mae Needs a Director of Financial Reporting

Thumbnail image for Need_a_job.jpgFannie Mae is looking for an experienced professional to fill a Director of Financial Reporting position in its Washington, D.C. office.

This person will be responsible for coordinating the execution of day-to-day operations of financial reporting.

Qualifications include 8 – 10 years experience, CPA and public accounting experience preferred.


Company: Fannie Mae

Title: Director, Financial Reporting

Location: Washington, D.C.

Description: Coordinate strategy execution for a broad area of financial reporting. Direct day-to-day operations for a unit engaged in compiling, reviewing, and/or transmitting accurate financial results internally to the firm points of contact or externally to regulatory bodies (e.g., FHFA, SEC) for inclusion in board reports, news releases, and public financial reporting. Articulate goals, allocate resources, and manage workflow.

Responsibilities: Lead activities related to accounting, control, and financial reporting for responsible areas. Ensure that monthly, quarterly, and annual financial reporting is accurate, timely, and based upon internal and external reporting requirements; Research regulations and trends. Participate in discussions and conferences with regulators and other industry representatives. Work to influence future regulatory developments and interpretations; Report to senior management on the unit’s production, activities, and efforts; Represent the unit as an expert or resource to cross-functional project or coordinating teams; Report to senior management on the unit’s production, activities, and efforts; Represent the unit as an expert or resource to cross-functional project or coordinating teams; Plan, document, and manage the performance of subordinate managers and/or staff. Provide for professional or technical growth through assignment, mentoring, or training; Plan and manage the unit’s budget. Approve expenditures or budget transfers.

Qualifications/Skills: Bachelor’s Degree or Equivalent required; 8-10 years of related experience; CPA preferred; Public accounting experience preferred.

See the entire description over at the GC Career Center and visit the main page for all your job search needs.

Career Options: Masters in Taxation, MBA or CPA Exam?

We’re often asked which way to go when it comes to pursuing additional education or tackling the CPA exam before moving on to grad school (if you’re in one of those awesome 120 states or somehow loaded up on units after graduation) so let’s see if we can offer some insight on the matter.

Reader question is as follows:

Hello, I am looking at a public accounting career in tax and will graduate with a bachelors and 150 credit hours after 4 years. I am wondering if there are benefits to a Masters in Tax or MBA versus entering the workforce.


Funny you ask, have you checked with Going Concern contributor Joe Kristan? He can tell you all about taking the Masters route AND tax work so hit him up (you’re welcome, Joe) for more insight. “I think if you have good grades otherwise, a M.Acc can give you an edge in getting hired, especially with big firms. For me it gave me a huge edge – my M.Acc beats my B.A. in history with CPA firms everywhere,” he told us awhile back. Somehow we’re not surprised to hear his history degree wasn’t useful once it came time to find a sweet number-crunching gig.

Back to School
I think your payoff depends on what exactly you’re trying to get out of your career and which direction you plan to go. An MBA offers you flexibility (which comes in handy when the economy is in the can and jobs are scarce) while a Masters would keep you tethered to whatever path you take but either would make you more desirable to employers – depending on who you are applying with.

Keep in mind that for some employers, an over-qualified, well-educated candidate also means someone who will need to be paid more and could (in a normal job environment completely unlike the one we’ve got going now) easily find a better, more well-paid position with any number of employers. People may be desperate nowadays but the economy will recover eventually and employers have to consider that when deciding to offer you a position.

The Real World – CPA
The advantage to heading straight into the workforce out of school is that you can get the CPA exam out of the way and then, should you want to, choose to head back after you have been licensed and pursue a Masters. The advantage to this is that you are less of a threat to employers once you actually have your CPA since they don’t have to worry about you leaving after 2 years to the day once you have your experience requirement met so you can leverage your additional education to land a better job. Then again, the advantage to staying in school – for the moment, at least, job market being what it is – is that you can buy yourself some time, make yourself more of an asset and hope that things look better from a hiring standpoint once you have completed your Masters program. Many are taking this route simply because they’re afraid of the job market (for good reason).

Under the getting your CPA now route, you have the advantage of getting to know your profession before committing to a specialty – that means being able to change your mind before you’ve given up another year of your life and the costs associated with a Masters (or MBA) program. I don’t want to talk you out of what you’ve decided to be when you grow up but there’s something to be said for real-world experience (and I’m sure more than one old timer can tell you they wish they knew what they were getting into before they did).

Keep in mind also that if you’re looking at an MBA, work experience may be a requirement for admission so you might not have a choice in the matter. Take the CPA/work route and come back later when you have a little experience under your belt and more insight to allow you to make an informed decision on where you want to go with your life.

Job of the Day: L.A. Hedge Fund Needs a Portfolio Accountant

Career Group Search has a hedge fund client in Los Angeles that is looking for a Portfolio/Fund Accountant to oversee the accounting of investment partnerships and separately managed accounts.

Ideal candidates have Big 4 experience and a CPA is preferred.


Recruiter: Career Group Search

Title: Portfolio/Fund Accountant

Location: Los Angeles, CA

Responsibilities: Reconcile daily transactions to prime broker or custodian; Resolve discrepancies and communicate with client and administrator in a timely manner; Provide performance analysis and reporting on accounts to investment analysts and managing partners; Prepare month end valuation statements and ensure accuracy of financial reports provided to clients and administrators; Prepare tax allocations for hedge fund; Prepare financial statements for hedge fund; Initiate cash transfers, check disbursements and wire transfers; Assist auditors in the audit of hedge fund and separately managed accounts; Assist with the pricing and review of portfolio securities; Account for complex securities including derivatives, bank loans and private transactions.

Qualifications: 4 year degree required in Accounting or Finance; Big 4 experience and CPA is preferred; Proficient with Excel spreadsheets; Experience with investment accounting a plus; Excellent communication skills; Candidate must be diligent and self motivated with attention to detail.

See the entire description over at the GC Career Center and visit the main page for all your job search needs.

Have You Considered Becoming an Accounting Professor?

We already did a series on credentials for accountants if you’re looking for add letters to the end of your name but if you’re not looking to take that route or looking to get out of it after you’ve gotten some experience under your belt, you may want to look into a PhD in accounting. We’re serious.

The Accounting Doctoral Scholars program, a joint project by 70+ accounting firms, several state societies of CPAs and the AICPA, wants to help you. $15 million has gone into their efforts to fill a much-needed gap in accounting education and if you don’t quite fit in to the cube, you may be one of the chosen ones.


That means they have money to help you through school so get in touch with them if this sounds like you:

If you are someone who loves learning, generating new ideas, and setting your own agenda you may want to seriously consider pursuing a doctoral degree in accounting. While all academicians can make their mark in a field, those with a Ph.D. in accounting have the opportunity to influence both accounting education and public accounting practice.

The ADS Program will provide funding for selected individuals, with recent meaningful experience in public accounting in auditing and tax, to help them make a permanent transition to teaching and research at the university level. The funding will support application to doctoral programs in accounting and also provide a stipend of $30,000 per year for up to four years of enrollment to individuals committed to teaching and research in auditing and tax—the areas of greatest need—upon completion of their doctorates. The Program will support its third class of Accounting Doctoral Scholars for Fall 2011.

No one can tell you how far to take your education. We know CPAs with PhDs who love teaching and we know teachers who have their CPA and don’t realize they practice education. It is difficult enough to decide between a Masters in Accounting and an MBA (or so we hear), how many of you are really thinking of a PhD?

If just one of you are, hopefully this helps. We’d be curious to hear what career paths you plan to take if you are and always defer you to friend of Going Concern Professor David Albrecht if you want to talk to someone who does it for a living.

This does mean you’ll actually have to teach.

Last year, AccountingWEB identified 5 reasons why we’re so desperate for PhDs in Accounting including the lifestyle change required to pursue one and the economic cost of funding it.

The New York Society of CPAs’ CPA Journal gets into what is required and what to expect if you take this route here and you can check out earlier posts that GC did on the pros and cons of the career move into academia. Good luck!

Job of the Day: Visa Needs a Senior Financial Analyst

Visa is looking for an experienced professional to a Senior Financial Analyst role in its Foster City, CA location.

Responsibilities include applying U.S. GAAP to business activities and documenting analysis and conclusions in HR accounting, with an emphasis on compensation and pension accounting.

Qualifications include a CPA and strong technical accounting skills (FASB statements: 87, 88, 106, 112, 123R, 146, and 158). Big 4 experience and exposure to IFRS is preferred.


Company: Visa

Title: Sr. Financial Analyst

Location: Foster City, CA

Description: The Sr. Financial Analyst will apply U.S. GAAP to business activities and documenting analysis and conclusions in all areas of Human Resources accounting, with an emphasis on compensation (stock-based compensation, deferred compensation arrangements, executive compensation) and pension accounting.

Responsibilities: Technical accounting expertise and operational application of the following specific pre-Codification FASB statements: 87, 88, 106, 112, 123R, 146, and 158; Drafting and maintaining global accounting policies for Visa Inc. in accordance with GAAP and SEC guidance; Providing non-U.S. geographies with technical accounting guidance and assisting them in solving Human Resources-related accounting issues; Preparing and reviewing journal entries, complex general ledger account reconciliations, and analyses to support accounting estimates and adjustments.

Qualifications: CPA license (active status); Strong technical accounting skills and experience in handling complex U.S. GAAP accounting matters, as well as the demonstrated ability to perform technical accounting research and use technical accounting research tools; Direct experience with the following specific pre-Codification FASB statements: 87, 88, 106, 112, 123R, 146, and 158; Strong communication skills, especially in writing technical accounting position papers and explaining and presenting technical accounting matters and positions to auditors and management.

Preferred qualifications: Familiarity with International Financial Reporting Standards (IFRS), including the significant differences with U.S. GAAP, especially in the areas of stock-based compensation and pension; Expatriate accounting and tax experience; Big 4 and public company experience, including familiarity with Form 10-K and 10-Q disclosures and disclosure requirements; Operational experience in Human Resources accounting.

See the entire description over at the GC Career Center and visit the main page for all your job search needs.

Question for the Group: How Does One Get Into Cost Accounting?

One of our Twitter followers Markied85 asked us the following:

How would you suggest getting into cost accounting? it seems like one of those positions you fall into with experience.


Good question! Personally speaking, your humble editor only had a brief stint as a financial analyst that involved compiling internal reporting for a COO and that was after we had done our time in public/Big 4, so your thinking is on the right track.

If you accept an entry-level position with a private company, chances are you wouldn’t be tasked with providing reports to managers. However it is possible that you would be responsible for compiling these reports and depending on how the department is set up, one of your superiors would review and present the reports.

But what do we know? Like we said, our experience is limited so we just took quick shot in the dark. What we do know is if you are an in-house cost accountant, a CMA is good credential to set you apart from the rest in your group (plus, you’ll probably get more money).

If you’ve got good experience with this transition or you’ve been in a cost/managerial accounting role your entire career, let’s hear about it.

Job of the Day: Morgan Stanley Needs a Legal Entity Accountant

Morgan Stanley is looking for an experienced professional to fill a Legal Entity Accounting role in New York.

Responsibilities include legal entity financial reporting including supporting analytics and support of financial audit, regulatory and compliance examinations.

Qualified candidates need a BS/BA in accounting and minimum of seven years experience.


Company: Morgan Stanley

Title: Legal Entity Accounting

Location: New York

Responsibilities: Legal Entity financial reporting, including supporting analytics; Preparation and filing of quarterly bank regulatory reports; Support for various banking committees, Board of Directors and compliance reports; Ownership of legal entity control environment and procedures. (Basel II, Reg. W, Reg. R); Coordination and support of Financial audit, Regulatory and Compliance examinations; Ad-hoc queries on financial information (internal and external)

Skills: Ability to communicate effectively and interact with various levels of management; Comprehensive knowledge of financial reporting and technical accounting; Ability to make creative and effective use of systems and technology (Proficient in MS Office Suite); Possess Leadership and project management skills; Strong organizational skills, including the ability to coordinate, prioritize and manage multiple activities; Self motivated – the ability to work independently and as an effective team member; B.A. / B.S. degree; Accounting; 7 to 10 years of related experience in Finance and banking industry.

See the entire description over at the GC Career Center and visit the main page for all your job search needs.