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    Home Unlabelled Accounting Public accounting has genuinely saved my life.

    Accounting Public accounting has genuinely saved my life.

    November 06, 2019

    Accounting Public accounting has genuinely saved my life.

    Public accounting has genuinely saved my life.

    Posted: 06 Nov 2019 08:31 AM PST

    I can't kill myself; we're already understaffed as it is!

    submitted by /u/Maybe_a_CPA
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    I have shit housed my way into six figures, three years after becoming a CPA. Feel free to AMAA?

    Posted: 06 Nov 2019 09:20 AM PST

    I am not sure if there is a high level of interest for a post like this, but I figured I'd share my experience a little bit on how I ended up where I am.

    I accepted a job offer for a little over 100K last week, and I was as shocked as anyone to get an offer that high. I am not sure if my experience is universal or comparable to where other people will end up, but I figured I'd share how I got to where I am if there is any interest.

    First, a little bit about me: * Name: lungkick * Age/sex: 30, male * Region: Mountain West * Years of relevant experience: 5.5 * CPA: 3 years * Position: Principal Auditor for a large bank

    Career Path:

    • Stage 1: I did not study accounting in college. After graduating with a Bachelors in Philosophy and Economics, I worked in non-profits and religious organizations because I was passionate about the work that I was doing. I peaked at $32,000 after 2.5 years of that life. I did get burnt out and decided to pursue something else. This portion of my life isn't even on my resumes so its irrelevant as far as jobs go. I went back to a community college and started taking accounting classes to become a CPA. I started with introduction to financial accounting, as I had not even taken a single accounting class in my life.

    • Stage 2: I enrolled in classes, which ultimately took about 2 years whilst taking 6-9 hours every semester. I got a job as an AP Clerk (made $15 an hour), and did that for six months. My first lucky break was snagging a job whilst in school for a small local public accounting (<10 people) and learned auditing and essentially accounting (I found this job after one semester of taking accounting classes). Pay started at 38K and peaked at 45K, but a) it was more than I had ever made and b) the experience was pretty invaluable. I stayed with them for two years. During this time, I also completed my course work and passed 3/4 sections of the exam.

    • Stage 3: I decided to move to a larger (top 20) public accounting company. I got a position as an experienced associate (55K) and passed the final section of my exam. Due to my experience at the smaller firm, I was instantly made a CPA. I stayed with a larger firm for only a year, as I was getting pretty burnt out by public accounting.

    • Stage 4: I wasn't sure what industry job I wanted. I assumed a traditional accounting role (I interviewed for couple of senior accountant/staff accountant roles) but I ended up in an internal audit role with a large finance organization. The biggest reason was they offered the most pay at 72K. I was there for two years and peaked at 75. I decided to leave because I was pursued hard for a managerial level position (essentially a double promotion), back with a public accounting company.

    • Stage 5: This is where things got a bit interesting. I realized that I was actually still burnt out of public accounting and had gotten used to the relaxed rhythms of industry. I made 90K a year but after four months decided it wasn't for me and decided to make a jump quickly, so that I wouldn't waste my time or the company's time any longer

    • Stage 6: I honestly expected to take a pay cut to go back into industry. I applied for senior level audit positions, had a bunch of interviews and a couple offers (one I turned down because their health care sucked - the offer was still 88k). I was then was offered at a 103K and a different company at 95K with a large stock bonus. Of course, I was asked about the short tenure at my current place, but I had a good reason for leaving and it didn't really seem to bother most employers.

    So that's how I ended up where I am.

    Things I learned:

    • Jumping around does increase your salary notably, and this day and age, it's not uncommon. Use your discretion and stay at the places you like, but don't be afraid to make the change

    • Internal audit, which imho is a very un-sexy field for accountants, is still a very high demand position with good pay. I had such an easy time getting interviews. My priorities have always been my relationships and my hobbies and work has been the means to achieve that - IA is the perfect career field for someone that wants boundaries with good pay. Sure, the work can get boring but I am not coming to work to have the time of my life.

    • One down side of leaving is that your bridges can/do get burned. I am not saying that's a bad thing, and you can leave amicably (which I think I have) but know that the audit world in a city is not that big either - especially the higher up you go.

    • Know your priorities and don't be afraid to actually prioritize them.

    • Finally, it's not too late. Six years ago, I was making $15 an hour as an AP clerk and would've continued to make about that much for the rest of my life if I didn't take ownership of my career. Community colleges are amazing resources that are cheap and can really help get you started in the direction you want to go.

    TLDR: Somehow through moving around and gathering certain skillsets, I have shit housed my way into a six figure job.

    submitted by /u/lungkick
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    Just when everything seems on track....

    Posted: 06 Nov 2019 11:58 AM PST

    All the time!

    Posted: 06 Nov 2019 01:31 PM PST

    Reminder to my computer: PwC’s bi-annual laptop changeout is coming up

    Posted: 06 Nov 2019 06:24 PM PST

    Heading to accounting class when the addy kicks in

    Posted: 06 Nov 2019 07:21 PM PST

    Today, my imagination died

    Posted: 06 Nov 2019 04:23 PM PST

    I have a celebrity crush on Shawn Mendes. I thought his voice was super attractive. I caught myself fantasizing about being his accountant.... accountant!!! Like.. not some romantic meeting, not girlfriend, not wife but his accountant!!! Like... what?

    submitted by /u/kittykate19
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    I'm going to be a CPA!!

    Posted: 06 Nov 2019 04:21 AM PST

    Got my score back for my last exam yesterday and it's over, it's all finally over. Today will be the first day in over a year I don't wake up thinking about studying or worrying about a score coming back.

    I was able to knock out REG and FAR while in school. I took BEC in between finishing school and starting work. And took AUD after starting work (which was hell). Average score was an 89.

    Biggest thing I recommend that is often overlooked is having a support group. Whether it's accounting friends from school or coworkers, find people who are going through this with you. Study together on the weekends, send each other memes on how much you hate your life, and watch your vitamin D levels plummit together. It doesn't make studying fun, but it makes it just a tad bit more bearable.

    YOU CAN DO IT TOO, IT'S POSSIBLE!

    submitted by /u/Super_Weenie_HutJr
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    Me after plugging a random number into "General Office Expense" to get the Trial Balance to balance.

    Posted: 06 Nov 2019 05:58 AM PST

    Someone needs to come get their Partner

    Posted: 06 Nov 2019 05:27 AM PST

    Anyone else feel like Public Accounting is just this machine that converts your 20s into money for the Partners?

    Posted: 06 Nov 2019 08:15 AM PST

    /r/Gaming discusses taxation

    Posted: 06 Nov 2019 12:12 PM PST

    Mattel, PwC Obscured Accounting Issues, Former Executive Says

    Posted: 06 Nov 2019 05:37 AM PST

    Seems to easy

    Posted: 06 Nov 2019 08:04 PM PST

    I am still in college, but I see everyone posting that they are going to stay anywhere from 2-4 years in public then swap to a controller job and work there way up to CFO. Either that, or they are going to stay in public for 12 years and become Partner. I'm just wondering if it is really that straightforward. I understand it takes a lot of long hours and such, but I'm wondering if it actually is just that systematic.

    submitted by /u/collegedriper
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    I work at a smaller firm (< 500 employees) with a lack of promotion potential. How much longer should I stay?

    Posted: 06 Nov 2019 07:44 PM PST

    I'm about to hit 3 years as a senior staff at my current firm with no promotion to manger in sight. No issues with my performance reviews (4 out of 5).

    There's just no room at my office or even in the region. I'm 3rd inline based on seniority in my office.

    The pay is great and I probably can't get a comparable offer elsewhere. However, I don't want to be a career senior staff.

    How long can or should I stay before stalling my career progression? I knew this was a possibility when moving to a smaller firm and now https://i.imgur.com/XztcUBc.jpg

    submitted by /u/Mr-Nice-Guy1
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    When you run into one of your old intern buddies and you realize you’re the only two from your intern class who haven’t left the firm

    Posted: 06 Nov 2019 09:20 AM PST

    Good employers do exist

    Posted: 06 Nov 2019 04:01 PM PST

    Throwaway here as the industry where I live is small.

    Well, it is official. I got promoted at my job in industry up to Assistant Controller from Intermediate. It was a bit of a slog, and a fight, to get what I wanted but I finally did it. It's definitely a high point for me in my career. Promotion takes effect now and I'll be getting a 35% raise starting December.

    I had quite a few false starts in my career when I started in 2011:

    • Had to start at A/R as I had no experience coming out of school.

    • Jumped to an A/P and got let go when both of my bosses were incompetent sacks of shit.

    • Got a junior gig which was good other than co-workers who were super shady.

    • Jumped to an Intermediate gig which was great until my boss got fired and then I got let go in a restructuring 3 months after the day my new boss got hired (I shoulda saw it coming). I was unemployed for 8 months…worst time ever.

    • Had to settle for a Junior gig for a measly $38k/year or a $12k paycut…that was a kick in the balls. It wasn't a great spot to me. Constant broken promises, getting the short end of the straw on everything, and finding out less qualified people made more than me caused me to jump.

    • Went to a "junior" Accountant role. Got a very nice payraise but eventually broken promises, lack of challenge and responsibility had me looking elsewhere.

    • Jumped to a Senior Accountant job. Looked good on paper – did it for my wife who wanted to live a certain city where the job market was shit. Unfortunately, I found out the CFO flat out lied to me on a few things: revenue, why he couldn't pay me more due to budget (yea, that was dumb), and more broken promises.

    I'll admit, I was super discouraged after that last job. Not many employers value people who work hard and are drive, take initiative, etc.

    I landed at my current place as an Intermediate. I started off at high $60k/year which isn't great for a CPA in Canada but I figured I would bust my ass as hard as I could. Lots of late hours, extra work, and I had supportive managers. One of my old managers could tell I was burnt out, jaded, frustrated, etc. He always took the time to show me shit, and gave me the tools I needed to succeed, and the other managers fell in line. Sure, things weren't perfect, there were a couple of things that would have caused people to leave by now, but I stuck it out and I'm glad I did.

    The point of this post is good employers do exist, management can care about you and you can get promoted in industry. Yes, there are loads of shitty employers out there, my job history is proof of it. But good employers do exist, you will find them, and your time will come.

    Tl/Dr

    • Started in 2011

    • Had many false starts

    • Landed at a good spot

    • Got promoted to Assistant Controller

    Oh, and fuck startup companies and the CFO to the last one I worked at. Because of your shitty actions, not only did you lose a great Accountant, my suppose isn't going to practice medicine in your town which is crying for doctors last I heard. GG.

    submitted by /u/throwaway_4619
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    Just a Small Town Controller Living In a Lonely World

    Posted: 06 Nov 2019 06:10 AM PST

    When I voted yesterday I noticed no one ran for City Controller so, presumably, the slot is open (or would be easy to win next election).

    The "city" is a small town with a population of 10,000 and is the seat of a poor county with a population of 135,000. There are three clerks in the city building that have been there forever issuing water bills and taking payments (and whatever else).

    So my question is: what's an educated guess at what a small town controller does?

    I'm sure the pay is just above minimum wage but the title would be a good get for my resume.

    submitted by /u/EspressoBlend
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    Has anyone ever had their references contacted for an entry-level audit associate position at a regional firm?

    Posted: 06 Nov 2019 07:14 PM PST

    What do I do if I want to do audit but have the personality of a tax associate?

    Posted: 06 Nov 2019 12:50 PM PST

    Do I give up on my goals?

    submitted by /u/DoNotFree
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    TAS Senior Associate Salary?

    Posted: 06 Nov 2019 06:17 PM PST

    I'm in a large market (Washington D.C.), and was offered a base of low 80s with a signing bonus of a few thousand dollars. Is this a good offer for a first year senior associate in TAS? I would be transitioning from being an audit senior, and this would be an external transfer (jumping from current firm to another firm). Thank you!

    submitted by /u/SammyGotaG
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    Hello! Need some help with homework.

    Posted: 06 Nov 2019 09:53 PM PST

    So I'm doing this project where a company lists its financial information and transactions. The first step is to record the transactions in the journal, then post them, then create a trial balance. My trial balance is not equaling out and I am not sure why. Im pretty sure I messed up on a couple journal entries, if anyone could double check them and let me know which ones are wrong I could and go from there... Or give me even more details would be amazing but I understand that time is precious so any help is appreciated. Thank you!

    Here is a link to what I did so far https://imgur.com/a/CZf6LNu

    submitted by /u/Karalorissa
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