<p>I was wondering if some of you parents who are currently practicing accountants could shed some light on the work and lifestyle of an accountant in today's world. Do you enjoy what you do? What area of accounting is most interesting to you? Do you have time for other things outside of the office? If you could start over, would you choose to be an accountant again?</p>
<p>I was originally planning to be a finance major, but with all of the economic turmoil going on in the country, accounting seems to be the far safer bet. Plus, I have read many times on this board that accounting can open the same (if not more) doors in the business world that a finance degree can.</p>
<p>By the way, I'm well aware of the major accounting thread created by Taxguy. However, that thread seems to be more about the general subject of accounting rather than the career of actually being an accountant. I wanted a thread where professional accountants can place their input about their careers and daily lives.</p>
<p>I have an accountant friend with a small tax practice, makes most of his income in the first four months of the year; it has been a struggle some years, but he does fine, has a few employees, and a nice little life.</p>
<p>I have a friend who is a more high priced accountant, charges much more to do a tax return than the first guy, pretty expensive, pretty good, lives in Coto de Caza (think Real Housewives of OC) and has a lucrative practice.</p>
<p>I have a friend who has been an accountant for 20-30 years, started with a big name firm, has lived all over the world, including dangerous places and is a partner. Big money, big travel, big life, big bucks, big time commitment, always gone some where, but a nice life, if that is what you want.</p>
<p>So, all sorts of directions you can go with an accounting degree</p>
<p>It is the exceptional accountant that makes a lot of money. Most are well employed, solid middle class citizens. </p>
<p>I would not say that a focus on accounting opens the same doors as one on finance. Certainly many trained accountants go far beyond accounting and achieve many things during their career, but the average accountant does very rote work. </p>
<p>No matter what the economy, it's important to keep in mind what you really want to do and what you are good at doing. If your finance dream was to spearhead major corporate acquisitions, a life crunching numbers may not float your boat. If by finance you mean you were planning on being a comptroller of a company, accounting may be a reasonable redirection. </p>
<p>If most finance jobs dry up (and they won't), accounting jobs will too as will most other types of jobs. There is no way Wall Street jobs tank without taking Main Street with them. </p>
<p>My suggestion would be to take classes in both areas and others and see where you excel before deciding.</p>
<p>Accounting can be so many different things...tax preparation for big form or on your own (and then probably supplemented with some other "off-season" work), auditor working for cpa firm, anything from accounts receivable up to CFO in all types of businesses, and government - IRS or auditor for defense dept or...</p>
<p>If you want to be in private industry and get promotions, I suggest getting CPA license and/or masters degree. Not before you get first job, necessarily. Makes you so much more marketable when you reach higher levels of responsibility. </p>
<p>Whether tax, audit, or private industry, be prepared to put in lots of overtime periodically as deadlines loom. Government doesn't tend to have the overtime requirement.</p>
<p>I do taxes. I enjoy it, its a puzzle to solve. H hates the very idea & prefers bigger, broader CFO type things (ok, he'd rather be the CEO, but thats another story)</p>
<p>When I did tax software I missed out on Thanksgiving and Christmas. In Public Accounting I miss out on Christmas due to year-end planning and often Easter. I don't mean that I'm not home at all on those days (usually), but that I cannot take time to enjoy the preparation. eg in younger days, Christmas gift wrapping was an artistic endeavor for me. Since Tax and kids, paper is slapped on in the shortest amount of time. Not so much fun. </p>
<p>H, who spent many years in private industry as controller or cfo would work tons of overtime the first week of the month getting the monthly books closed. Depending on the company he was with H also worked lots of OT in general. That seems to be a given in management anymore.</p>
<p>I'm more of a "lowly bookkeeper", but that was the path that worked best for me and my family. My accounting skills served me well before children and I turned them into a nice little part time business for a couple of decades while I have been mostly a stay at home mom. At times I have easily re-entered the work force as needed and could probably do so today if I so desired.</p>
<p>A dear friend is enjoying a lovely career, a different path. From the IRS went to public accounting then to a small but growing manufacturing company. Now a higher level controller, enjoys modest travel opportunities to various plants around the world and the perks of participating in this growing company.</p>
<p>The true accounting field is full of deadlines and busy periods. That can be stressful and is why I am finally taking a break from it. There are always monthly, quarterly and annual reports that must be filed by such and such a date, no exception. Life tends to revolve around these dates and time frames. Busy season for a tax accountant can be absolutely nuts!</p>
<p>Would I do this again? I'm not sure as I really sort of drifted into it; started out with other ideas but lacked guidance and support so it was the path of least resistence. But it really has been a solid skill for me over the years and something I'm good at. I think there is a reasonable amount of flexibility on how it can be applied out there in the real world.</p>
<p>Having a CPA allows you a lot of flexibility. I was always able to get some type of job as my husband got transferred. I have been working part-time now for most of the last 12 years as my daughter went through school.
I would agree with the above posters about the craziness of tax-season (and audit busy season); when I was a fairly new auditor, I had one stretch where I worked every day for 6 weeks straight. On the other hand, the poster above who suggested you try both finance and accounting has a very good idea. Some people who like finance really don't like accounting, which would be a miserable way to spend a career.</p>
<p>I am a CPA and enjoy the flexibility of the accounting profession. I worked full time+ for a 'Big 8' before I had children, and continued until my first child was 2 years old. I have worked part time now for over 15 years, maintaining current in my profession while having time to spend with my family and on leisure activities when it is not tax season.</p>
<p>I drifted into an accounting major when, as a Management major, I found out that I enjoyed, and was good at, the required accounting courses. I worked in the Big 8 immediately after graduation and went into the private sector (insurance) after a couple of years. </p>
<p>Because accounting skills are fairly transferrable, I was able to be very flexible with my work hours after starting a family; and to "on-ramp" back into the work force once my children were a little older. Today I am back at a major insurance company full-time (but all $$ goes to the tuition bill!!) As vulture3 says, life is full of deadlines and busy periods. Mine begins (again) in a week or so (3rd quarter reporting looms). </p>
<p>You can make of it what you will. I do not have my CPA, nor do I have a graduate degree. I have had positions which were "operational" in nature, where you will worry about reconciling each nickel & dime, and I have also had positions which dealt more with "reporting" - dealing with information at a much higher level. You will find which is best for you. There are many, many areas at my firm which require a "degree in either Finance or Accounting"...and many are non-accounting jobs.</p>
<p>Would I do it again? Maybe. I am good at what I do, and most of the time I find the "puzzle" aspect of accounting pretty interesting. The money is pretty fair. There are times, however, that the work just doesn't seem very....rewarding.</p>