Ready For Something New? Find Out How to Land an Accounting Job You Won’t Hate
I’m no psychic or anything but I’m willing to bet a large majority of you reading this right now have your resume updated and ready to fling at an eager recruiter at a moment’s notice. Maybe you’re not actually looking for a new job, but as you watch your public accounting cohorts jump ship one […]
What’s Your Job Search Plan?
It’s springtime and you’ve made the decision to look for a new position. Now you need a plan. First, narrow down what you want to do next by answering these four basic questions: What kind of work do you want to do? Stay in public accounting, but at a firm that is: larger and you’re […]
Do Political Opinions Matter When Choosing an Employer?
We’re in a weird space these days. The country is remarkably polarized when it comes to politics, and it’s said personal relationships have a lower chance of succeeding if the parties aren’t on the same political page. Yikes. So how do you navigate this landscape in the workplace, especially if your views are in the […]
Webinar | How to Discreetly Find Your Next Great Career Opportunity
There’s never been a better job market for CPAs… literally. You are in high demand. But finding a job is a challenge. Are the best opportunities on job boards? How do you network without sending a signal to your employer that you’re looking? We know a thing or two about how to get this done! […]
Relocating? Here Are 6 Tips for Finding an Accounting Job in Your New City
Whatever the reason you’ve decided to relocate, once you decide to move, it is important that you check out the area: housing, culture, schools, public transportation, commute times—and job opportunities. Because of the storied talent shortage, most accountants will have a relatively easy time finding employment in their new city. Still, having a roadmap for […]
How to Find a New Job Without a Headhunter
It’s true! You can get a great job without using a headhunter. And you should consider doing it. Here’s why: The thousands of dollars in recruiting fees your employer pays could affect your starting salary, bonus and promotion potential. There’s some motivation for you! Not so many years ago, there were two really good ways to connect […]
Recruiter Manages to Creep CPA Out Over Email
As we tumble through the post-busy season spring, an untold number of recruiters are on the hunt for accounting professionals whose asses can fill the empty seats of their clients. Recruiters use a number of different tactics when pursuing talented accountants but one of the trickiest parts of this cat and mouse game has to be […]
Those Annoying Recruiter Calls Might Be Slowing Down Next Quarter
In a few weeks, many of you plugging along through busy season will decide to call those incessant recruiters back and test the job market. Last week's report by Robert Half and published in the Journal of Accountancy miiiiight rain on your parade, at least in the short term. Ninety-one percent of CFOs said they don’t expect […]
A/P Clerk Would Like to Know How to Best Use $30k to Get a Job with a Big 4 Firm
From the mailbag:
I have been working as a Accounts Payable for 3 years. I don’t want to waste your time of explaining my disadvantages. One of my advantages is money. I have a large savings. I would like to give $30,000 to anyone who get me a job in Big 4. I am not talking about [a] bribe. I wish to know how to use advantages [sic].
Just don’t sit there, give the man some suggestions. All options are on the table. Bonus points for creativity.
How Do I Prioritize Taking the CPA Exam, Finishing a Masters in Accounting and Getting a Job?
If you have a career related question that also involves the CPA exam (like “should I take it before I try to get this awesome job at x firm?” or “Will I still get hired if I have a CPA and therefore scare the crap out of recruiters who want me to be as moldable to their whims as possible?”), please email me directly. Emailing [email protected] will just mean you getting trapped in Caleb’s inbox for weeks.
Now then, today’s reader question comes from a finance world immigrant looking to elbow his way into public accounting:
I graduated in 2005 with a Finance degree, I spent one year as a Staff Accountant then moved onto to become a Corporate Financial Analyst for the past 4 years. I am interested in making the change to public accounting and began the MSA program last year to get the requisite hours, I’ll be eligible for the CPA at the end of the Spring Semester but won’t quite be finished with the MSA program. There is the background…
…now my question is would I be better off staying in my current position and finishing the master’s program before I take the CPA and find a new job? Or would it be more beneficial for me to attempt to find a lower level job at a firm during the spring semester to start getting some experience, then attempting to take the CPA next fall? I’m eager for a change, but I would like to know what the best course of action might be and if it’s realistic to think I could find a CPA firm job before I have finished the master’s program or taken the CPA exam. Thanks for your help.
Here’s the obvious disclaimer: I am heavily biased towards the CPA designation for many reasons.
Firstly, having one obviously makes you more employable because it shows a level of dedication that employers salivate over. Forget all that junk about a CPA showing that you know your stuff, getting one shows that you have the ability to grind through months or even years of studying your ass off, which employers are into because it means that you might just show the same sort of dedication to ticking and tying.
Secondly, having a CPA allows access to a professional network that cannot quite be accessed from the fringes (read: unlicensed fringes) and puts you in a different caliber. For someone trying to break into public accounting, having a CPA (or being darn close minus the work experience) right off the bat can put you on the fast track to career advancement that might otherwise be out of reach were you to both come from another industry and lack a CPA. Just my 2¢.
All that being said (possibly in more words than were necessary), yes you can find a job with a CPA firm before you have passed the exam but the best avenue to take is always to tackle the exam as early as you can before you get involved in life, work, family… you know, all that stuff that will turn into excuses for not having time to study later. Even your best-laid plans don’t always turn out as well as they appeared on paper, so that low level gig at a firm (if you can get one) might turn into a longer-term position that you can’t or won’t walk away from. Ask anyone who has studied for the CPA exam while grinding out their first year in public accounting if you need more clarification on just how large a pain in the ass that plan can be. You know, if you’re planning on having a life.
My suggestion: take the CPA exam as soon as possible and put your feelers out in the job market. Don’t bank on a CPA firm position landing in your lap but if you find one, it will be best to have as much of the exam done as you can get before you actually start. Good luck!
Accounting News Roundup: Signs That You Should Quit Your Job; District Court Issues Order in Wesley Snipes Tax Case; LarsonAllen Moves Into the Northwest | 08.06.10
BP Completes Cementing Macondo Oil Well From Top [Bloomberg]
“BP Plc completed a cement plug at the top of its Macondo well in the Gulf of Mexico, sealing off the source of millions of gallons of oil spewed into the sea after a drilling rig exploded in April.
The procedure completes the so-called t stage for BP is to finish a relief well to inject cement at the bottom and ensure there’s no leakage inside the 13,000-foot-long (3,962 meters) well bore beneath the seabed, National Incident Commander Thad Allen said yesterday.”
Ten Signs It’s Time to Leave Your Job: The Finance Edition [FINS]
Check yourself for some of these symptoms: “You’ve been holding back from voicing your grievances.”; “You have no clue where the company is headed.”; “You start to believe you can’t do better.”
And that’s just in the first five listed.
Altus completes PricewaterhouseCoopers deal [Bloomberg BusinessWeek]
PwC sells their real estate appraisal management for, what we can only assume to be, a decent chunk of change.
H&R, Jackson Hewitt shares fall on new IRS rule [Reuters]
“Shares of top two U.S. tax preparers H&R Block Inc (HRB.N) and Jackson Hewitt Tax Service Inc (JTX.N) fell Thursday on the Internal Revenue Service’s decision to eliminate debt indicator for tax-refund loans.
On Thursday, the IRS said starting with next year’s tax filing season it will no longer provide tax preparers and associated financial institutions with ‘debt indicator,’ which is used to facilitate refund anticipation loans (RALs).”
PKF Pacific Hawaii completes purchase of Grant Thornton Honolulu office [Pacific Business News]
Name goes official on Monday. Here’s our original report from back in May.
Two UHY LLP Partners Recently Named to Prominent Standard-Setting Implementation Groups [Market Wire]
“The national CPA firm of UHY LLP announced today the recent appointment of Houston-based partner Ana Denena to the International Accounting Standards Board’s (IASB) Small and Medium-sized Entities Implementation Group. In a separate appointment, the firm announced that Maryland-based partner Jennine Anderson was named to the Financial Accounting Standards Board’s (FASB) resource group on non-profit entities.”
PCAOB Adopts New Risk Assess. Stds; Issues Release on Failure to Supervise [FEI Financial Reporting Blog]
As we mentioned yesterday, the PCAOB has been busy. Francine McKenna guest-blogged over at FEI and gives the rundown.
Fannie Quarterly Loss Is Smallest Since 2007 [WSJ]
FTW? “Fannie Mae posted a $1.2 billion net loss for the second quarter, the smallest loss in three years, amid signs that the massive wave of souring loans that brought down the mortgage-finance giant may be easing. But Fannie still asked the U.S. government for an additional $1.5 billion.”
District Court Issues Order in Snipes Case [TaxProf Blog]
Just when you thought it was over.
If you’re not getting cloud computing you’re a loser [AccMan]
That is, you’ve got almost nothing to lose by going for it.
Midwest accounting firm buying LeMaster Daniels [Spokesman-Review]
LarsonAllen brings its business to the northwest by purchasing Spokane-based LeMaster Daniels.
Deloitte leadership race reduced to two hopefuls [Accountancy Age]
“he contest to replace John Connolly as leader of Deloitte in the UK will involve just two members of the firm’s board.
The contenders vieing for the top job are Martin Eadon, head of audit, and David Sproul, head of tax. Sproul joined Deloitte when the firm acquired Andersen in the UK on the back of the Enron crisis
Both candidates gave presentations at the firm’s partner conference on 6 July but no further campaigning is expected.”
Accounting News Roundup: Liberty Tax CEO Hints at Combination with H&R Block; Former NABA President Killed in Skydiving Accident; Sam Antar Has a Question | 07.20.10
Liberty Tax CEO Floats Combining With H&R Block [AP]
John Hewitt, CEO of Liberty Tax, is hinting that maybe he’d like to merge with H&RB, “John Hewitt, founder and CEO of Liberty Tax Service, said Monday he is trying to contact departing board member Thomas Bloch to discuss the potential for combining his privately held company with Kansas City, Mo.-based H&R Block.
‘With my leadership and the name and backing of the Bloch family, we could put a great company going back in the right direction,’ said Hewitt.”
We didn’t say it was a subtle hint.
SEC May Add 800 New Positions as Part Of Reform [Reuters]
At least try to keep the porn enthusiasts out, “The top U.S. securities regulator will need to add about 800 new positions to carry out its part of the massive financial reform legislation, the head of the agency said in testimony to be delivered on Tuesday.
Mary Schapiro, chairman of the U.S. Securities and Exchange Commission, said the agency is still crunching the numbers on costs and hiring, and expects the upcoming rulewriting task to be ‘logistically challenging and extremely labor intensive.'”
Two 70-somethings, Theodore Wilson and George Flynn, killed after mid-air skydiving collision [NYDN]
Messrs Wilson and Mr Flynn were both experienced jumpers and were having textbook jumps until something went wrong with approximately 100 feet to go. Mr Wilson was born and raised in the Bronx and he was a former president of the National Association of Black Accountants.
Job Hunting Is Often One Step Forward, Two Steps Back [FINS]
A recent study from the University of Minnesota suggests that people on the hunt for a new job are their own worst enemies, “The results won’t be news to anyone who has ever returned from a jog and mauled a chocolate cake or followed up a productive hour of work with some heavy Facebooking.”
In other words, if someone has a good interview, they’re likely to return home and vedge for the rest of the day, feeling good about their prospects, when the best thing would do is to land the next interview with another prospect.
BP Weighs New Way to Kill Gulf Well [WSJ]
“Oil giant BP PLC was Monday considering yet another method to kill its ruptured Gulf of Mexico oil well amid concerns that the cap it installed last week could be allowing oil and gas to seep out the sides.
Meanwhile, a federal panel investigating the disaster heard that the Deepwater Horizon drilling rig suffered a series of power outages and seized-up computers in the months before it exploded.
BP’s new containment cap has stopped the flow of oil since Thursday, but with the well now sealed at the top, government officials are worried that oil and gas could now be escaping elsewhere.”
Facebook Claimant Must Answer `Where Have You Been?’ to Succeed [Bloomberg]
“Paul Ceglia, the western New York man who says a 2003 contract with Facebook Inc. founder Mark Zuckerberg entitles him to 84 percent of the company, will have to answer a critical question to pursue his claim, lawyers said.
‘The first thing that comes to mind is, where have you been all this time?’ asked Los Angeles litigator Bryan Freedman, who isn’t involved in the case.”
Answer: Been busy on Facebook.
Nokia Conducting Search for New CEO [WSJ]
Get your résumé in now.
I Have A Question [White Collar Fraud]
If Sam Antar is asking a question, something usually stinks. This time he’s wondering if someone had the NBTY Directors jumped the gun on some stock purchases prior the company’s purchase by the Carlyle Group, “If [CNBC’s David] Faber’s reporting is correct, does ‘early May’ mean before or after Michael Ashner and Peter White bought their NBTY shares?”
Four Ways to Explain Gaps in Your Resumé
Slow Monday, GC’ers? You’re damn right. Call up your buddies and make today Margarita Monday. What better way to prepare for Tequila Tuesday, amiright?
I received the following question in my inbox from a recently unemployed reader:
I was let go from my firm in the fall of 2009. I have since found a part-time job but am struggling to secure full-time work. I’m afraid that if I go too long without finding a new job that I’ll have a hard time explaining the gap in my resumé. What do you suggest?
My two Lincolns follow:
Part-time work is better than nothing – If you have ever been between jobs, you know that job searching is not a 9-5 ordeal. After the first few weeks of searching the Monster’s and CareerBuilder’s of the online world, one becomes very efficient in their respective search capabilities. Jobs are not filled in a first-come-first-served manner either, so it becomes a matter of searching new jobs (typically Monday and Friday are the most popular posting days) once a day to make sure you’re on top of the newest opportunities.
That said, you’ll find yourself with a lot of time during the days. Rather than catch up on your Netflix account, find yourself a part-time job or volunteer opportunity. It will keep your mind active, your spirits up, and even some extra change in your pocket. This also shows that maintaining a work ethic and staying professionally active is important to you
Update your resume on a regular basis – On the flip side of the online job market pool, employers know the last time you updated your resume. Revising your resume once a week will ensure that it remains near the top of searches. I’m not saying you should re-work your work experience every week; changing even the slightest detail is enough to register as an update in their system.
Be honest – Whatever you do, do not lie to your recruiter or the HR professional representing a potential job. In addition to background and credit checks, employment verification checks are becoming ever more popular. Don’t feel like you need to lie about when you lost your pervious job; you’re not the only person that has been affected by the recent recession. Which brings me to my last point.
You’re not alone – Sure, the recession has led to a saturated job market; employers understand this as they begin to re-hire individuals. Recent gaps in your resumé are not scarlet letters (like they would have been in 2007) for your chances of landing an interview.
Once that interview is secured, be honest and upfront about the missing time pieces in your work experience. And whatever you do, hit home the fact that you’re hoping a new role with ABC Inc. will lead to a successful future of stability and growth for both you and the company.
Accounting News Roundup: Grassley Not Sold on Financial Reform Bill; LeBron Was Probably Considering Tax Implications; Target: Your Spreadsheets | 07.09.10
Grassley Airs Concerns As Vote Nears on Financial Bill [WSJ]
“Iowa Republican Sen. Charles Grassley is ‘very concerned’ about a provision in the financial overhaul bill designed to pay for the le aid Thursday, potentially complicating White House efforts to build a filibuster-proof majority to back the measure.
If Mr. Grassley decides to vote against the bill, Democrats would be left with little margin for error when they bring the bill to the Senate floor, which could happen as soon as next week. Mr. Grassley was one of four Republicans to support an earlier version of the bill when it narrowly passed the Senate in May.”
Number of CEOs Stepping Down is on the Rise [FBN]
It’s hard out there for a CEO. Ask Russ Smyth.
State Jock Taxes: Is LeBron Better Off in Miami? [Tax Foundation]
Of course Florida has no income tax, so every game that LBJ plays in Florida he’ll have a tax liability of $0. What about the other 41 games outside of FLA? That’s another story, “True, if James plays in Miami, none of his neighbors will be paying state income tax, but thanks to the jock tax, LeBron will.
While most people who travel in their jobs pay state income tax only to their home state, which is zero in Florida, athletes get special attention. In the NBA, each player’s per-game salary is computed, and whenever a team is on the road, the players must pay whichever tax rate is higher, the home state’s or the away state’s.”
Facebook Often Not a Job Seeker’s Friend [FINS]
If you’re pounding the pavement for a new job out there, it’s pretty much a given that people are looking at your online activity. But just how much and where? Based on the conversation between FINS’ Kyle Stock asked Michael Fertik of ReputationDefender Inc, you’d better drop those loser friends from high school that have appeared on Cops:
Kyle Stock: Can you speak briefly on to what extent companies are checking up on candidates online?
Michael Fertik: They’re absolutely doing it. It’s somewhere around 70% to 80% of hiring managers. . . And not only are they looking online, they are also looking in really remarkable places like virtual worlds and gaming rooms.
KS: To what extent do people realize this is going on?
MF: Somewhere around 70% of employers are considering online information when evaluating a candidate and only 7% of candidates believe they are doing so. There’s a huge gulf of understanding. . . Everybody has been opted in. There’s kind of a willful ignorance about it. That’s changing, but it’s still there.
And the kinds of information being considered are growing very diverse. It’s not just the photo that you published of yourself with a beer or a bong, it’s also content like who your friends are and what they post on your page and what kinds of groups that you link to. There’s kind of an associative picture that they develop of you and then they make decisions about you based on those associations.
Russian Spies Head Home in Swap Echoing Cold War [Bloomberg]
Defendant #4 and the rest of the gang are going home, making your next conference predictably more boring. Or will it???
Internal Auditors Target Spreadsheets [CFO]
“Last month the Institute of Internal Auditors plugged a gap in its guidance for members by issuing recommendations for the auditing of ‘user-developed applications,’ which generally are spreadsheets and databases developed by end users rather than by IT personnel.
User-developed applications, or UDAs, are subject to a high level of data-integrity risk because there may not be adequate controls over validating their output or making changes to them, the IIA points out. There is also confidentiality risk, because a UDA and its data typically are easy to transmit outside the company via e-mail.”
Accounting News Roundup: Bank Tax Scrapped; Deloitte Cleveland Names New Managing Partner; What’s the Future of Internal Audit? | 06.30.10
Financial-Rules Redo Passes Major Hurdle [WSJ]
Who knew that lobbyists could be so effective? “Democrats initially proposed the $18 billion tax on the nation’s largest banks and hedge funds to cover the cost of expanding g of financial services, among other things. But the small number of Republicans crucial to the bill’s passage balked at the fee, which was added at the last minute to the legislation.
With more than a year’s worth of work in the balance, Democrats ditched the levy on Tuesday. Instead, they agreed to offset the bill’s costs by winding down early the $700 billion Troubled Asset Relief Program and assessing a more modest fee on banks through the Federal Deposit Insurance Corp.”
Volcker Said to Be Disappointed With Final Version of His Rule [Bloomberg]
If you go to the trouble of getting your name on the rule, with specific ideas in mind about what said rule entails, you’d be pretty upset if lobbyists hacked up to the point that it’s hardly recognizable. Plus octogenarians are probably used to getting their way.
“Volcker, the 82-year-old former Federal Reserve chairman, didn’t expect the proposal to be diluted so much, said a person with knowledge of his views. He’s content with language that bans banks from trading with their own capital, the person said.
‘The Volcker rule started out as a hard-and-fast rule on risky trades and investments,’ said Anthony Sanders, a finance professor at George Mason University School of Management in Fairfax, Virginia. ‘But through negotiations, it was weakened and ended up with many loopholes.’ ”
How Not To Look Desperate When Looking for Your Next Finance Job [FINS]
Because we know there are plenty of you out there.
Deloitte names Craig Donnan managing partner in Cleveland [Crain’s Cleveland]
Cake party? Mr Donnan takes over for Pat Mullin who has been the managing partner of the office since 1999.
The future of the internal audit profession [Marks on Governance]
“If we are to be relevant, chief audit executives (CAEs) have to refocus on providing assurance regarding how well management identifies, evaluates, responds, and manages risks – including the controls that keep risk levels within organizational tolerances.”
The Problem With Unreported Income [You’re the Boss/NYT]
The problem being that if you’re going to have one helluva time selling your business if a decent portion of its revenues are unreported.
“Legal and moral issues aside, there is only one way to view unreported income when it comes time to sell the business: forget that money ever existed. If you can only manage what you can measure in business, then the same holds true for what you can sell.”
AIG hires ex-Lehman lawyer as compliance head [Reuters]
As long as AIG doesn’t ask about arcane accounting disclosures, this should work out fine.