Tax v.s. Audit & finding a job - Page 2

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  • #184653
    TNDCPA
    Member

    I currently work at a sole proprietor CPA office doing small business tax returns, bookkeeping, and payroll taxes since the semester before I graduated undergrad. I got my BS in accounting summer of 2012 and will be graduating with my MS in accounting this May. I graduated magna cum laude and currently hold a 3.87 GPA. My resume has been critiqued and is professional IMO. I’ve been looking for jobs periodically in my spare time since Fall 2013 but have only had an interview with two regional/mid-size firms; both with no offers. I’ve been applying to mainly audit positions, and both my interviews were for audit. I have a second office interview Monday, but this position is for tax and at a smaller CPA firm, approx 80 people total. My dilemma is…I can’t seem to catch a break. I haven’t really had luck with my career center b/c we have a five year program at our school and most students in that program tend to get picked by the big four/bigger regional firms. I’ve mainly applied directly through the firm’s website, and was still able to land an interview. I really would like to explore audit, but feel firms either don’t want to give me the chance or my interviewing skills suck. The only reason I applied to the tax position was b/c I started getting desperate, and felt it would help with my interviewing skills. Also, I’m curious to see what I’m worth.

    I don’t exactly hate tax but I feel I would enjoy audit more. I enjoyed learning consolidated financial reporting and hedge-fund accounting while taking them for class. I know the real world is different, but I find financial reporting comes more natural to me then tax. My boss also indicated if I wanted to give audit a try, now would be the time, because if I continue down the tax path it would be hard to switch to audit. Is this true? Can anyone give some insight on this?

    I don’t know exactly what I’m doing wrong. If it’s my background in tax, at a small office or if it’s my interviewing skills. I am an introvert for the most part, and I know I can be awkward during an interview. However, I’ve started to use my resources and went to a mock interview at our school’s career center to get critiqued. The reviewer said I wasn’t bad at all, I just needed to let my personality show more. In my most recent interview, I thought I handled myself quite well. I was able to get a direct interview, due to my teacher, with the partners and ending up being at the firm for 2.5 hrs! I felt like I connected with all three partners and the interview flowed more like a conversation. I was pretty confident till I got my rejection e-mail two days later. Only thing I can think of that went wrong was that I stated I see myself in 5 to 10 years being a controller when I was asked. I had explained I enjoyed a work/life balance and felt being in public accounting/auditing would lend me a great deal of experience with various industries. She was also curious as to why I wanted to give audit a try and I simply explained I wanted to venture out for a change and seek something I felt I would ultimately enjoy and that I wanted to love what I did for a living, not just be content.

    At this point I feel like I should stop wasting my time applying for audit and just apply for a tax position, But even then, I’m still worried I won’t land a position at a firm!

    Sorry for all the rambling, but any thoughts or comments would be appreciated!

    FAR - 89 02/27/14
    REG - 88 04/30/14
    AUD - 90 7/3/14
    BEC - 87 8/30/14 DONE!

Viewing 15 replies - 16 through 30 (of 30 total)
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  • #542156
    QuesoDip
    Member

    fuzyfro89 – Your last sentence about the tax provision hit me hard, my company just finished undergoing an audit and I sat down with my CFO and controller to look at what our auditors did for the tax provision. Even with their notes, we were still unsure of wtf they were doing. We just booked their recommended entries and said F it, that's what we pay them for. lol

    With that being said, TNDCPA – I think being exposed to tax is certainly a valuable experience, but audit is the way to go if you want to be a controller 10 years down the line. Moving to a bigger firm might make the transition to audit easier. Usually the bigger firms are more relaxed about letting their employees try other things. I would also try audit at your current firm if your boss is okay with letting you do it, unless they don't provide audit services…. :/

    Keep applying and interviewing. Chill out with the honesty a little though 🙂 Tell them you'd love to continue in auditing firms for the rest of your life and you will work 7am-2am Monday through Sunday if that's the way to achieve your dream. This is of course a lie, but that's what they want to hear. Good luck!

    REG - 88 - 8 Weeks (Becker, Ninja Audio/Flashcards, Wiley TB)
    FAR - 87 - 10 Weeks (Becker, Ninja Audio)
    AUD - 98 - 6 Weeks (Becker, Ninja Audio, Ninja MCQ)
    BEC - 87 - 2 Weeks (Becker & Ninja Audio)

    #542127
    Groud
    Participant

    “I want to be partner one day” is only slightly less bad than “I want to be a controller one day”… Everyone has it drilled in to their head that they just need to say the things they think the hiring managers wants to hear, like “I want to be partner one day”. Unless you can elaborate specifically what that means, it just comes across as empty and unoriginal (everyone claims in the interview that they want to be a partner). Tweaking it just a bit you can add so much more. Off the top of my head, something like “I know being Partner is the ultimate goal when one enters public accounting, but since Im not entirely sure what it takes or even what it means to be a Partner, my goal is to develop the skills necessary to succeed and advance within the firm. If that means becoming Partner one day, even better”.

    Additionally, if youre interviewing at Big4 or even a regional, you may as well just leave if you say “work/life balance is important”. Now if they bring up the lack of opportunity for a balanced schedule, you would do well to follow up with something like “We all understand what it means to work in public accounting, long busy season hours, demanding schedule, travel (etc etc) and Im prepared to not waste any of the already limited time in my schedule.”

    ✓ AUD: (85) Apr2014 ~~ (87) Apr2016
    ✓ FAR: (74) Aug2015 ~~ (74) Oct2015 ~~ (79) Jun2016
    ✓ BEC: (77) Apr2015
    REG: ___

    #542158
    Groud
    Participant

    “I want to be partner one day” is only slightly less bad than “I want to be a controller one day”… Everyone has it drilled in to their head that they just need to say the things they think the hiring managers wants to hear, like “I want to be partner one day”. Unless you can elaborate specifically what that means, it just comes across as empty and unoriginal (everyone claims in the interview that they want to be a partner). Tweaking it just a bit you can add so much more. Off the top of my head, something like “I know being Partner is the ultimate goal when one enters public accounting, but since Im not entirely sure what it takes or even what it means to be a Partner, my goal is to develop the skills necessary to succeed and advance within the firm. If that means becoming Partner one day, even better”.

    Additionally, if youre interviewing at Big4 or even a regional, you may as well just leave if you say “work/life balance is important”. Now if they bring up the lack of opportunity for a balanced schedule, you would do well to follow up with something like “We all understand what it means to work in public accounting, long busy season hours, demanding schedule, travel (etc etc) and Im prepared to not waste any of the already limited time in my schedule.”

    ✓ AUD: (85) Apr2014 ~~ (87) Apr2016
    ✓ FAR: (74) Aug2015 ~~ (74) Oct2015 ~~ (79) Jun2016
    ✓ BEC: (77) Apr2015
    REG: ___

    #542129

    TNDCPA – if you're introverted and awkward in interviews, the best way to turn it around is to force yourself to be more outgoing. Whether it's starting small and answering more questions in class or just being more social in other situations, you just want to build more confidence. It'll probably be uncomfortable at first but the goal is to break that barrier. The cliche is fake it until you make it, but it will pay off in the long run. You're obviously smart and have work experience so just fill in the last blank. An interview is easier than random social situations because you're mostly just talking about yourself. I used to be really introverted, now I could sell ice to an Eskimo.

    Half of an interview in audit is about personality: could the interview see himself/herself or other employees spending 80 hours a week during busy season with you and do you present yourself in a confident manner. Remember that there is a pretty big social aspect to auditing. Firms want someone confident enough to demand things from clients when necessary and with enough social skills to make clients not dread seeing you every day.

    FAR 97
    REG 91
    AUD 5/30/14
    BEC 7/11/14

    #542160

    TNDCPA – if you're introverted and awkward in interviews, the best way to turn it around is to force yourself to be more outgoing. Whether it's starting small and answering more questions in class or just being more social in other situations, you just want to build more confidence. It'll probably be uncomfortable at first but the goal is to break that barrier. The cliche is fake it until you make it, but it will pay off in the long run. You're obviously smart and have work experience so just fill in the last blank. An interview is easier than random social situations because you're mostly just talking about yourself. I used to be really introverted, now I could sell ice to an Eskimo.

    Half of an interview in audit is about personality: could the interview see himself/herself or other employees spending 80 hours a week during busy season with you and do you present yourself in a confident manner. Remember that there is a pretty big social aspect to auditing. Firms want someone confident enough to demand things from clients when necessary and with enough social skills to make clients not dread seeing you every day.

    FAR 97
    REG 91
    AUD 5/30/14
    BEC 7/11/14

    #542131
    Groud
    Participant

    PocketsWithCash – thats good advice, me and my buddies call what youre suggesting “state shifting”. If youre not feeling very sociable, go out and start approaching strangers on the street with low-investment compliments, do this for an hour and I guarantee you will be in a state that is more socially appealing. It's magic.

    ✓ AUD: (85) Apr2014 ~~ (87) Apr2016
    ✓ FAR: (74) Aug2015 ~~ (74) Oct2015 ~~ (79) Jun2016
    ✓ BEC: (77) Apr2015
    REG: ___

    #542162
    Groud
    Participant

    PocketsWithCash – thats good advice, me and my buddies call what youre suggesting “state shifting”. If youre not feeling very sociable, go out and start approaching strangers on the street with low-investment compliments, do this for an hour and I guarantee you will be in a state that is more socially appealing. It's magic.

    ✓ AUD: (85) Apr2014 ~~ (87) Apr2016
    ✓ FAR: (74) Aug2015 ~~ (74) Oct2015 ~~ (79) Jun2016
    ✓ BEC: (77) Apr2015
    REG: ___

    #542133
    sbarkerACPA
    Participant

    Really good thread with very useful advice….

    BEC: 74;81
    AUD: 77
    REG: 71; 80
    FAR: 78
    License for CPA----APPROVED
    CPA Class of 2013

    #542164
    sbarkerACPA
    Participant

    Really good thread with very useful advice….

    BEC: 74;81
    AUD: 77
    REG: 71; 80
    FAR: 78
    License for CPA----APPROVED
    CPA Class of 2013

    #542135
    san4596
    Member

    Do not tell them you would like to be a Controller down the road. When asked where you see yourself in 5/10 years, you say “I see myself working towards partner in 5 years.” This is the best answer when applying at a public firm. You are not saying that you will be partner in 5 years, but working towards partner, which is a realistic answer. Additionally, this answer shows you are looking for long-term employment.

    CPA EXAM: DONE!!!!
    Ethics Course: Passed
    Application Mailed: 3/16/15
    Professional Conduct Exam: 97
    Certification Date: 4/2/15!!!

    #542166
    san4596
    Member

    Do not tell them you would like to be a Controller down the road. When asked where you see yourself in 5/10 years, you say “I see myself working towards partner in 5 years.” This is the best answer when applying at a public firm. You are not saying that you will be partner in 5 years, but working towards partner, which is a realistic answer. Additionally, this answer shows you are looking for long-term employment.

    CPA EXAM: DONE!!!!
    Ethics Course: Passed
    Application Mailed: 3/16/15
    Professional Conduct Exam: 97
    Certification Date: 4/2/15!!!

    #542137
    TNDCPA
    Member

    @QuesoDip We are a really small operating office, so no audit experience would be available. =[ And yes lesson learned, I need to avoid complete honestly..until I get my foot in the door.

    @Groud Thanks for the very good advice with making the typical statement stand out more. I got picked for McGladrey's audit interview on campus today and will surely keep this in mind!

    @PocketsWithCash Glad to hear that you were able to break the barrier! Yes I have tried to get myself in to social situations where I'd be more outgoing, but that tends to work best with the help of alcohol. LOL I do realize with audit comes the social aspect of working with clients, but I don't think I'd have a complete problem with it. I really do feel I would be selling myself short if I didn't at least give audit a try. Everyone seems to say I can jump back into tax easily if I end up hating audit. But it's better to know then to always contemplate right?

    @san4596 Agreed, I can see why a firm wouldn't want to invest in their employees just to have them leave.

    Thank you all for the input, you don't know how much I appreciate this!

    FAR - 89 02/27/14
    REG - 88 04/30/14
    AUD - 90 7/3/14
    BEC - 87 8/30/14 DONE!

    #542168
    TNDCPA
    Member

    @QuesoDip We are a really small operating office, so no audit experience would be available. =[ And yes lesson learned, I need to avoid complete honestly..until I get my foot in the door.

    @Groud Thanks for the very good advice with making the typical statement stand out more. I got picked for McGladrey's audit interview on campus today and will surely keep this in mind!

    @PocketsWithCash Glad to hear that you were able to break the barrier! Yes I have tried to get myself in to social situations where I'd be more outgoing, but that tends to work best with the help of alcohol. LOL I do realize with audit comes the social aspect of working with clients, but I don't think I'd have a complete problem with it. I really do feel I would be selling myself short if I didn't at least give audit a try. Everyone seems to say I can jump back into tax easily if I end up hating audit. But it's better to know then to always contemplate right?

    @san4596 Agreed, I can see why a firm wouldn't want to invest in their employees just to have them leave.

    Thank you all for the input, you don't know how much I appreciate this!

    FAR - 89 02/27/14
    REG - 88 04/30/14
    AUD - 90 7/3/14
    BEC - 87 8/30/14 DONE!

    #542139
    GSU-CPA
    Member

    Its definitely your interview skills. Even the few answers you told us about have been terrible, i wonder about the ones that you didnt tell us.

    Think about it you are telling someone that is looking for employees that are willing to work 60-70 hrs a week ” life/work balance is important to you”.

    There is a clear mismatch right there and just by you telling me that there is no way i would hire you to work in a big firm.

    REG-77
    BEC -Waiting on score May 5th
    AUD - May 30
    FAR - Q3 depending on if i pass above two in Q2

    #542170
    GSU-CPA
    Member

    Its definitely your interview skills. Even the few answers you told us about have been terrible, i wonder about the ones that you didnt tell us.

    Think about it you are telling someone that is looking for employees that are willing to work 60-70 hrs a week ” life/work balance is important to you”.

    There is a clear mismatch right there and just by you telling me that there is no way i would hire you to work in a big firm.

    REG-77
    BEC -Waiting on score May 5th
    AUD - May 30
    FAR - Q3 depending on if i pass above two in Q2

Viewing 15 replies - 16 through 30 (of 30 total)
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