Public Accounting

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  • #191935
    Rocky123
    Member

    I’ve been posting a lot about job searching lately. I was thinking of getting into public to get a lot of experience quickly. My past jobs were weak on experience so I feel stuck.

    Is this a good route to take? I’d like to put in 2 years in public and then go into the private sector.

    The tallest oak in the forest was once just a little nut that held its ground.

    AUD-PASS
    BEC-PASS
    REG-PASS
    FAR-PASS

    Rocky123, CPA

Viewing 9 replies - 1 through 9 (of 9 total)
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  • #646354
    acamp
    Participant

    Public is like a rocket ship for experience (unfortunately you're strapped to the outside of it!).

    Yeah, 2-3 years in public is kind of the minimum if you want to bulk up on experience; its a good way to redirect your trajectory.

    Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

    Becker Videos: [AUD - 82]

    California CPA

    #646355
    Anonymous
    Inactive

    2 years public as a Senior w/ a CPA and you're very likely to always be employed with a middle class wages lifestyle. Further up on the ranks (Manager or Senior Manager) and the doors open up significantly.

    I know my senior (experienced – 4th year in public) has recruiters and employers blowing him up on a weekly basis

    #646356
    fuzyfro89
    Participant

    It's a solid opportunity. So long as it's a recognizable public accounting firm in the area, you'll have no issues moving into industry with clients in a similar size/industry/reporting requirements/etc as your experience.

    For example, if you work exclusively on private clients with <$50million revenues, it's unlikely you'll make it very far into the interview stages for a $10billion+ public company. The type of work you are familiar with and reporting frameworks just won't apply. Not to say you CAN'T do it, but you won't find it EASY to make that transition… depending on level (the higher up you are the harder it will be).

    #646357
    Tuffy11111
    Participant

    Not to steal a thread, but are there any suggestions about how to get into it? I'm at one year with my current company and desperate to make a move to public.

    BEC - 83 7/25
    REG - 76 5/2/15
    AUD - Hopefully before MY Audit...7/5?
    FAR - 83 5/2/16

    #646358
    Son
    Participant

    Tuffy, I would start by passing the CPA exam first. Since you already have experience you would probably want to be hired as a senior/experienced staff, so having a license or at least passing all the exams would be almost a prerequisite in your case. I'm trying to remember if I know anyone who got hired out of private industry/other firm who didn't have a CPA license or bar before applying and honestly can't think of anyone.

    Rocky, I think that's a very good plan. If you were a new hire I would suggest staying for 3-4 years just to get a more solid foundation, but since you already have some you might feel that's too much.

    AUD - passed
    REG - passed
    BEC - passed
    FAR - passed

    #646359
    mt3130
    Member

    You learn an incredible amount of information working in public accounting, assuming you don't go big 4. There you just become an expert on one piece of one assignment, and keep doing it over and over for a couple years at a time.

    If you go to the second tier (smaller than big 4, but in top 100), you will get to experience all kinds of things and get an understanding for general accounting, taxes, assurance work, consulting, and many other types of jobs.

    REG - 90 (08/2014) - Study Time = 6 days
    FAR - 89 (10/2014) - Study Time = 9 days
    BEC - 83 (11/2014) - Study Time = 4 days
    AUD - 89 (01/2015) - Study Time = 2 days

    Final score released - 2/4/15
    Application mailed - 2/5/15
    Licensed CPA - 2/12/15

    #646360
    Gabe
    Participant

    Agree with @mt. I worked in a top 100 firm and audited a wide variety of companies and was able to do testing on every aspect of the audit (i.e. cash, AR, revenue, AP, etc). So, when I left to go private I had the knowledge of several different industries and how they functioned. A very valuable experience for sure.

    Good luck Rocky!

    CPA, CFE
    CISA- Experience will be completed by August 2016

    #646361
    Anonymous
    Inactive

    Just throwing this out there but there is a big stereotype with big 4 that you'll only gain experience in one area for the first 2 years. This isn't the case at all. I just wrapped up my first filing (client with roughly 300 mil revenues) and I had my hand in almost every area of the audit. I'm a staff 1 btw. Only the biggest of the big clients have staff working in one area year round.

    #646362
    ruggercpa2b
    Participant

    What you get exposed to depends on the senior and the manager you are working with. And also the number of people staffed on the audit. If you have a lot more people then you will only get to work on certain sections. Some seniors do not want to be bothered with training and will assign you the areas that are usually your wheelhouse.

    Some people have great experiences and are exposed to a lot more but it all comes down to the team you are assigned.

    AUD - 73, 72 retake 7/2/2016
    BEC - 8/20/2016
    REG - TBD
    FAR - TBD

    I am so ready for this nightmare to be over. Been at this way too long.

Viewing 9 replies - 1 through 9 (of 9 total)
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