[herbert7890]

This day a year ago I took my first CPA exam (FAR) and I still remember how nervous and terribly scared I was, once I reached the prometric center. I was literally shaking hard trying to contain myself. After I finished the test, it was even worse, since somehow my brain focused all the attention on the mcqs I had no clue on or on the terrible sims that came out of nowhere. Having said that, this same day changed my life forever, as it was the first step to become a CPA. When I look back into this, I just remember all those months of sacrifice, having no life whatsoever and just drilling mcqs like a madman and reading all the exam tips from this forum.

But boy was it worth it? 100%%%% YES! it is much like a soldier who fights for our country, it gives ourselves a huge sense of pride that not many people get to experience but at the same time this process will humble you in a heartbeat.

Pardon me If this sounds cheesy, im a little emotional just thinking about this and Facebook’s new feature (which gives you a random post from a year ago) reminded me of a post I made the day I took my first CPA exam. Good luck to all of you and I hope all can finish this punishing journey you have begun.

FAR 88 - BEC 86 - AUD 90 - REG 85

[JD_CPA]

I totally understand your logic about tackling FAR first. I guess my thinking was that I should start with the material I'm most comfortable with, get a good score in AUD and build my confidence for the remainder of the exams. I'm still undecided.

Anyway, thanks for all the advice. I copied and pasted your post into a word document and I'll try to incorporate your techniques into my study program.

I'm picking up my becker materials on Monday and I will begin asking you questions and seeking your advice throughout the whole study and exam process.

Moving on to a different topic, I'm currently unemployed and I'm starting to worry about my chances of finding a good job opportunity. My problem is that i have no experience ( not even an internship), and I have absolutely no connections in the accounting industry. Looking for jobs in the newspaper is very discouraging. Anyway, even though I have no experience and zero contacts , I know I'm among the best students in my class (I graduated Magna Cum Laude) and I'm perfectly capable of performing any task if given a chance. So I guess my question is; how did you manage to get your first opportunities? Is landing a job at one of the Big4 out of the question for me? I'm told those firms only hire their own interns for entry-level positions and in my case that ship has sailed. I'm truly lost in this area and I need some pointers…

[herbert7890]

When I graduated from college (UPR Mayaguez), I started working on a local business doing AP, AR and some monthly reconciliations. After that I found a job as a professor assistant at the Intern American University – San German Campus. That was an awesome experience and got many contacts from there that will help me get inside to teach at the undergraduate level during the evening sections. After that I had a brief stint at Hewlett Packard (Aguadilla) for 2 months in the AP and Procurement Department. During those 2 months I received various job interviews requests but most of them where in the San Juan area and I'm from Mayaguez. I even received an offer to some of them but I'm so used to living in the west side of P.R, I just declined them, after consulting with my wife. But then I received an offer from the most respected firm on the west area and immediately left HP.

As you can see I had an irregular path to reach public accounting, but I wouldn't take it back.

Relating to Big 4 positions, it really helps to know someone from the inside, that will personally hand your resume to the recruiters, as it will definitely get more attention from them and not tossed or filtered through. On the other hand, you may consider getting experience in local CPA firms. In local firms you will do EVERYTHING, due to the number of employees and resources. For an example, you will mostly be doing audit engagements (all or most areas of the fieldwork, some areas of planning and concluding,), but you will also be preparing corporate tax returns, individual tax returns, Agreed Upon Procedures, Review Engagements, Compilation Engagements, and some consulting engagements every now and then. On Big 4, you will be doing Cash for a long time and slowly picking up the other audit areas as you progress. Either way I recommend you get really good at Microsoft Excel,as you will used it extensively when you become an auditor. Learn every aspect of it until you get comfortable to tackle most problems or scenarios. I recommend you go to http://www.colegiocpa.com. There is a section that has a list of all CPA firms in Puerto Rico, which you can use to send them emails with your resume. I would recommend sending your resume even if their not hiring at this moment, because your name will be on top of their list for when the need comes.

To answer your main questions, I don't think Big 4 is our of the questions for you, but its a matter of having a good source inside or going to the job fairs that universities have annually and making a good impression on them. Right now im thinking of jumping to BIG 4 but not here in Puerto Rico. I received some messages from a Big 4 recruiter in the U.S and im considering it at the moment, even thought it will involve leaving everything behind to start on a new place (hard choice).

FAR 88 - BEC 86 - AUD 90 - REG 85

[JD_CPA]

Damn herbert, that's quite a journey you've traveled through to get your career at its current level. Congrats man…

Well, I've looked into some local firms but I haven't found anything yet. I've seen some newspaper adds that make me cringe. The pay here is really low and I feel I would spend more money on gas and road tolls than what I would bring in salary.

How did that offer from US Big4 came about if you don't mind me asking?

[herbert7890]

Linked In ; ) Probably the most essential site for networking. They need someone with knowledge of single audits, specially with experience with compliance audits and the OMB A-133 Compliance Supplement (Single Audit Bible). That's a perfect fit for me, I love Single Audits and auditing Not for Profits.

FAR 88 - BEC 86 - AUD 90 - REG 85

[JD_CPA]

Good luck man. I know it's a tough decision to make.

Now that you mentioned excel, can you recommend a book or online resource where I can improve my knowledge of excel?

Also, what sort of techniques to focus on….

[herbert7890]

I did not read any books for Excel, but I know there are some good ones that are probably worth reading. I did search for a shortcut list, which I read until I memorized all the frequent ones that we use in the firm. For Excel, you will need to know all the basic formulas/ functions, including the “If” functions, the normal math formulas, pivot tables, vlookups and chart / graph creation (with proper formatting). Additionally look on Google for Excel shortcuts lists and try them all to see what they do. The ones that seem useful, remember them or make your own shortcut list for reference.

Side Note: 1:35 am and I'm still scanning docs for a client since 10:00 pm : ( At least it's one of my personal clients outside of the firm, so I get all the revenues.

FAR 88 - BEC 86 - AUD 90 - REG 85

[JD_CPA]

1:35 am on a Saturday? Man that's hardcore. That must be a good client for you to make that kind of effort.

I'll report back on Monday or Tuesday once I have picked up my becker materials to share my first impressions.

I plan to begin studying right away.

Thanks for all the info herbert. Talk to you soon.

[Marivy22]

@JD_CPA,

Having a CPA in PR is a must..so please do not get discourage in the process!!!

I am from PR, living in south FL now. I am still a CPA candidate. I moved 6 years ago my salary has double since then. why? Because PR has a lot of professionals and I was not a CPA, so please if you want to keep enjoying the beauties of the island and get a good salary; keep your focus and become a CPA…. Good Luck!!!

Done 😉
Class of 2012!!!!
Lots of prayers and hard work....

[JD_CPA]

Thanks for the words of encouragement Marivy. I won't stop until I get that license. I promise. I see that you are only one victory away from reaching your goal. Stay positive and give it your all.

Good luck to you. Shout out to the 954 and the 305.

[JD_CPA]

Well, I picked up the AUD materials today and after flipping through the book and some flashcards I realized that I still remember a lot of the topics from the auditing class I took last semester. I think I made the right choice by going with AUD first but only time will tell.

@herbert – Do you think I should get the Wiley test bank or do I have enough practice material with becker alone?

[herbert7890]

becker mcqs will be more than enough, they cover all the relevant topics and the questions are worded very similar to the exam questions. Good luck on your studies!

FAR 88 - BEC 86 - AUD 90 - REG 85

[Anonymous]

Shout out to the 305, 678, 954, and 239. 🙂

[Author]

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