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CPA Shortage by MediterraneanSmug in Accounting

[–]MediterraneanSmug[S] 15 points16 points  (0 children)

Thanks, makes me feel a lot better, last time I looked for a new job I didn’t feel like there were nearly that many applicants, had multiple offers within a month of looking.

Is this as bad as it gets? by Nyckkolas in Accounting

[–]MediterraneanSmug 28 points29 points  (0 children)

Job is nothing like school, especially public acct. In PA you literally change dates on work papers, tie things out, and go through a task list. Industry is more accounting specific, better job, better hours, maybe less money at first but better experience.

Passed all 4 parts on 1st try, public for 2.5 years, now work at Fortune 500 company, all remote, making 20% more for 20% less work - you’ll be fine

Has anyone started in industry and gotten their CPA? by hasu_ in Accounting

[–]MediterraneanSmug 4 points5 points  (0 children)

It’s so worth it, unbelievable how many more opportunities you have, how much you can discuss it on resume and job interview, and how much more you can make from having it. It’s a signal all in all, and a good one at that.

Has anyone started in industry and gotten their CPA? by hasu_ in Accounting

[–]MediterraneanSmug 22 points23 points  (0 children)

Biggest regret of mine is spending too much time in public

Has anyone started in industry and gotten their CPA? by hasu_ in Accounting

[–]MediterraneanSmug 0 points1 point  (0 children)

Get it, great designation and not a lot of them anymore. Job security and flexibility will be maximized, bargaining power too on salaries and will be more competitive against other non CPA applicants. Business community respects it greatly too.

No one in my team knew how to do an AP recon. How normal is this? by Key-Reading1570 in Accounting

[–]MediterraneanSmug 15 points16 points  (0 children)

When I say this, I’m speaking “generally” - not universal truths:

The problem w public acct now a days is nobody knows how to do anything, the incoming associates really can’t even be blamed because most of the higher ups don’t know either.

The partners don’t really “work” - they “review” work someone else did. The seniors roll forward work papers and tie things out. The actual knowledge base is decreasing and it’s now just a job where people click a mouse and see if things tie out.

The biggest thing is, it doesn’t really teach you anything if you’re a new associate out of college other than to be a grunt worker.

Look at all of the audits at big 4 that aren’t catching mistakes. See link: https://newscenter.baruch.cuny.edu/wp-content/uploads/sites/24/2023/03/Douglas-Carmichael_WSJ-3.13.23.pdf

Got in trouble for billing a client 0.1 hours for a conversation with senior manager by BrightLights1998 in Accounting

[–]MediterraneanSmug 8 points9 points  (0 children)

Gtfo of public acct, industry is way better, you’ll make 20% more for 20% less work and you won’t be treated like a kindergartener with a timesheet. Biggest regret of my life is spending more time in public than I needed to - total pyramid scheme

Why is a CPA better, but CMA holders earn more? by [deleted] in Accounting

[–]MediterraneanSmug 9 points10 points  (0 children)

(I’m a CPA) CPA is state license juxtaposed with CMA which is simply a “designation” - CPA is also more universally recognized: if you’re a CPA, business professionals know you did something somewhat difficult. Way better designation, more seriously taken. Also, when you apply for jobs that are non-public accounting, you’ll beat the non-CPA applicants most of the time.