[Anonymous]

I can consume my days completely by doing one of the following two options. I cannot do both 100%.

Option #1 Contact recruiters/headhunters, send resumes out, network, submit applications on corporate websites, gather advice, refine resume, interview, travel to interviews, etc.

Option #2 Collect unemployment and study from 7:00am to 5:00pm six days per week.

When working at my pressure-cooker of a job, I worked 60 hrs per week minimum. When I got home around 6:00pm every night, I would spend time with family (give kids baths, bed time stories, etc.). I would *finally* sit down to start studying around 9:00pm! For me, this was not an ideal study situation for me. By 9:00pm, I was spent. I couldn’t absorb anything that I studied.

This may be why I couldn’t pass the final two parts of the exam. I’m curious how quickly I could pass the exam if I studied from 7:00am-5:00pm all week long? I would be 100% alert. No distractions at home.

What do you all think?

[financeguy]

Poptard, you are in OH, which has been decimated by the economy. As I'm sure you already know, it is going to be extremely difficult to find a job.

The most important thing is networking. Who you know will get you much farther than what you know. I personally believe we are in a depression and things are going to continue to get worse. It is risky for businesses to be hiring right now, along w/ the fact that cash flows are extremely tight, if not negative for many businesses. It may not be any downfall of your own why you can't find a job…businesses are just simply not hiring.

AUD - 81, BEC - 74, 80, FAR - 82, REG - 81
Done!

[PursuitCPA]

JMFL I think most times people cant afford to open up a practice or new biz, you need some capital, maybe he/she is afraid of that..Also I know alot of older accountants that are just too lazy to get more clients. I am young and have the time, capital, not going to be thrown into the streets yet.

CPA EXAM - Passed

[PursuitCPA]

Financeguy, you are correct we are in a depression. The gov just doesn't want to cause a Panic.

CPA EXAM - Passed

[Guccimane]

plenty jobs in Houston – it's mowing season!

83 Reg, 76 BEC, 94 Aud, 79 Far

Done ......!

[JM2010FL]

Pursuit, you're right you need some capital, but not much. You can work at of your home or find a nice commercial space with internet office/shared for $150 to $450 a month. Business cards about $40 for 500 cards, business phone $39/year -Majic Jack forwarded to your cell, recieve faxes for $1.00/month, website/domain/emails for about $100.00/year with Godaddy…….+ you can give yourself a nice title like Director of Accounting Services or Senior Vice President…lol

[sanguine]

I compeltely understand what you guys are talking about. I'm thinking very hard about starting my own Accounting/CPA firm. I'm in the infancy stage of researching it now.

I quit my job about a year ago because the hours I was putting in was crazy. I was working for a big oil and gas company as a corporate reporting specialists; basically gathering and analyzing business unit data, creating the financial statements and reporting those to the CFO and board members etc. I loved my job, but I had to make some tough decisions. Luckily, my husband does well enough that I can venture out and start my own firm.

I'm not new to being an entreprenuer. Up until recently, that's all I had done, until the economy and housing market went south; I was a mortgage broker.

Since then, I've turned my interest elseware. I've decided to prepare to sit for the CPA exam, which I'll be starting in the fall.

I'm just wondering, what all needs to be considered when starting up an accounting/CPA firm.

I think getting to know those particular softwares, that were mentioned is a great idea.

My plan is to start a little small and then grow to eventually accommodating small to mid-size companies. I have a lot of contacts, by chance, that are waiting for me to get started. 🙂

[PursuitCPA]

Interesting JMFL….I will keep that in mind.

You also need help to start up, no one is going to work for free. You can run out of your home but it won't look that professional.

CPA EXAM - Passed

[JM2010FL]

sanguine, you're on the right track….I was also in mortgages (commercial) and I took a BIG bath….lol

Pursuit, the start-up is the easiest part, the toughest/trickiest part is the marketing and keeping your marketing cost to a minimum…

Look in Craigslist for a professional office to share. I share an office with a very nice conference room in Tampa and another in Miami. Total cost for both offices is $600.00/with internet. I started with a virtual office ($75.00/month) and I only paid for the office when I needed to meet with a client. Then I got my own offices cause I had more business…….

I if you can study and sit for the CPA exam you surely don't need any help with the set-up of your office….as far as office, phone, fax, website and marketing with what I've already been posting here………..but you'll live and die by marketing…which is not that hard neither….

[PursuitCPA]

Well gotta be a salesman JMFL…Why do you think more CPA's don't do that?

CPA EXAM - Passed

[financeguy]

marketing is the hardest part of business imo. I ran a small business for a few years…definitely wasted a lot of money trying to figure out the best marketing.

The best product doesn't win. The best marketing wins.

AUD - 81, BEC - 74, 80, FAR - 82, REG - 81
Done!

[PursuitCPA]

I think in 5-7 yrs these baby boomer accountants will be out of there. More clients IMO

Assuming the economy gets better =)

CPA EXAM - Passed

[financeguy]

yeah, but along w/ the baby boomer accountants also goes their spending, and other businesses. Go learn about baby boomers and peak spending. The economy has a long way to go.

AUD - 81, BEC - 74, 80, FAR - 82, REG - 81
Done!

[PursuitCPA]

agreed. Not sure whats going to happen, and the above powers keep avoiding it

CPA EXAM - Passed

[ILoveCPA]

I was a mortgage broker as well before the collapse. Since then I got my MBA, finished sitting for the CPA and took on some consulting projects. I am curious what way I can put a positive spin to parlay my mortgage background into an accounting career, whether it be in my resume or general networking. If any of you former mortgage people, or anyone for that matter, have some good suggestions, I would love to receive them?

Thanks and my tip for people looking to job hunt or sit for the CPA is to do both. Network during the day and early evening and study at night. Forget your friends and reserve some time for close family to let them know they are still important to you but this little (facetious) CPA Test has current priority. You'll be glad you did and the seeds you planted when networking during the exam will at least start to show some signs of life.

Good luck and looking forward to peoples' suggestions.

FAR(11/09) - 83; AUD(1/10) - 94; BEC(2/10) - 83; REG(2/10) - 88

[Author]

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