Public vs Industry

  • Creator
    Topic
  • #193843
    kyle.brown
    Participant

    Whats the big draw for working in public accounting? I have only worked industry but like the environment a lot.

    FAR - Passed 4/2016
    AUD - Passed 11/2015
    REG - ?
    BEC - 05/28/2016

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    Replies
  • #670610
    Gabe
    Participant

    I did public for 2 years. It was a good experience because I got to see a lot of different industries and how all the “parts” moved. I did everything from audit cash to prepare financial statements, so it was really a good breadth of experience. I am now in industry and love it. Less stress and hours, and I enjoy the work.

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

    #670611
    acamp
    Participant

    In public you get to exposures to many different areas and many different clients. For example, you might need to understand the basics of what 5-different people do at a given client (understand cash, AR, OPEX, Revenue, Equity, etc, etc), now multiple this by the number of clients you have. For myself, my primary client is a public tech company, so I have them for year end and quarterly work and between quarters I do audits of growing private tech companies. Its kind of the best of both worlds, experience on a public engagement and experience on private engagements. Both have their own unique challenges which keeps things interesting.

    On the other hand, BOTH HAVE THEIR OWN UNIQUE CHALLENGES WHICH KEEPS THINGS MADDENING!!! Haha. Due to the nature of the work and the timelines, public accountants tend to work longer hours than their private counterparts, however this usually isn't a year-round thing (although there are occasions during “non-busy season” where the hours get turned up and thats never fun).

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

    Becker Videos: [AUD - 82]

    California CPA

    #670612
    Mayo
    Participant

    “Whats the big draw for working in public accounting? I have only worked industry but like the environment a lot.”

    For higher level positions, that's what Companies are looking for. Plus:

    1.) Training

    2.) Network

    3.) Name on resume

    4.) Diversity of industries

    5.) Diversities of experiences

    6.) Diversity of accounting issues

    7.) Overtime = more time working on the job than industry. Which means usually 1 year in industry = 1.5 years in PA.

    Mayo, BBA, Macc

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