Everything you wanted to know or should know about accounting

<p>If you are in public accounting most firms will not promote you to upper management unless you have a CPA. Many positions in upper management in industry also prefer that the CPA certification is held by those people as well.</p>

<p>Hi all, I am an international student with F-1 visa and I’m currently studying in a 4year universtiy (Nicholls State University, LA) with accoutning major. For last few months, I’ve been looking this thread and since I’m also an accounting major I have few questions to ask. I would appreciate if any of you guys could answer it.
The business school and the accounting department of NSU are AACSB accreditated. The thing is along with Accounting I want to do double major in another subject too. But I am not sure of the other subject. For now I’ve been thinking of Economics, Finance, and Information system. Which one will be the better option for me?
Also, being an international student what are the difficulties I might face after graduating to get a job? And will it be a plus point for me if I do a double major? I’m also thinking to give the CPA test after completing the req. credit hours. Will it be easier to get a job if I complete my masters? Also is it compulsory to have some work experience to get in a graduate school? I will pursue my masters in accounting so is the work experience necessary to get in the graduate school for accounting. I would really appreciate if I could get the answers.</p>

<p>Thanks.</p>

<p>I have only read up to page 20 of the thread (will read the rest at a later time) but I am seeking immediate help.</p>

<p>I just graduated from UCI with a major in economics and a minor in management (i really should have picked accounting as the minor). After graduating, I decided to pursue accounting (i took intro to financial accounting, loved it). My gpa isnt too high, 3.29.</p>

<p>Ideally, i want to be a CPA. I don’t know which route to take, but i want to take the shortest one. I would like to know the benefits and disadvantages in taking this route.</p>

<p>Since i have already spent many dollars in tuition at UCI, i would like to take the most cost efficient route and i was thinking about taking the classes at a junior college (online maybe?). I am unaware if these classes meet the required education to be eligible to take the CPA exams. All the JCs around my area are WASC accredited. I will try to take as many qualified classes as i can at the JCs (yes, multiple JCs) to save money and then take the rest at a university. Will taking these accounting classes hinder my success as being hired at the big 4 in the future since they are from different places or it will be okay just as long as I ace them?</p>

<p>Masters in Acct?</p>

<p>Any Recommendations?</p>

<p>You need to research the state board of accountancy’s requirements for the accounting classes. Some states will take cc classes; however, beyond the two introductory classes, financial and managerial, cc classes in my state are designed to provide occupational training for bookkeepers, which is not the education needed to successfully navigate the CPA exam.</p>

<p>Sounds like the MAcc may be a good route for you. As stated above, check with your state board of accountancy for specifics in your state. Also as stated many times on this thread - it doesn’t matter where you take your accounting classes, as long as they are acceptable classes that meet your state board of accountancy’s requirements. Getting into a Big 4 firm will come down to your GPA, your accounting GPA and you as a person.</p>

<p>Hi kundanp333, I’m in the same boat as you. I graduated from UCSD with a Bachelor of Science in Management Science degree in 2008. I have chosen to pursue a degree in Master in Accountancy I have realized that it would open more career opportunities for me. Upon completion, even if I don’t sit for the CPA examination, I I would still have a Master degree in accountancy which is very useful in business field.</p>

<p>Hey all. I was hoping you guys would advise me about my chances of getting an AUDIT internship or full-time offer with a Big Four or large regional firm (BDO, Grant Thornton, etc.)</p>

<p>My stats:
Principles of Financial Accounting A
Principles of Managerial Accounting A
Intermediate Financial Accounting I A-
Cost Accounting B
Intermediate Financial Accounting B
Accounting Information Systems A
Auditing I C
(I will retake Auditing in the upcoming semester).</p>

<p>My OVERALL GPA is 3.5ish
I am involved in TWO business organizations:
Beta Alpha Psi
ALPFA (have held a board position for 1 year)</p>

<p>I have also been involved in OTHER student organizations.
I held a part-time job during my junior year in which I was taking my accounting courses.</p>

<p>I have a summer internship at a Fortune 200 company.</p>

<p>I am billingual (English and Spanish) - I am Hispanic.</p>

<p>I will be elligible to sit for the CPA after my undergraduate degree (will still need the additional hours to reach 150, though).</p>

<p>I have good interpersonal skills - I will often go up to the recruiters at events instead of waiting to be approached. I have a go-getter attitude.</p>

<p>I work well in groups and often take charge in class projects.</p>

<p>I am a good writer.</p>

<p>I have received a couple of merit-based scholarships - one of them from a Big Four firm.</p>

<p>I am an attractive female with a pleasant attitude, albeit a bit reserved at times.</p>

<hr>

<p>Are my chances good? I think I have a solid chance at LANDING the interview (I think) - my concern is landing the JOB/INTERNSHIP. Would I be overlooked because of my C in Auditing, especially since I want to go into audit? Would they care at all that I am re-taking the course to get a better grade?</p>

<p>Please give me your honest opinions. Thank you!</p>

<p>^^ Your chance will depend much on how you do when you retake Audit. Usually they look for a 3.5 in overall and accounting GPA. It indeed COULD hurt that the C is in auditing .</p>

<p>As long as you have an overall 3.5 in accounting and accounting related courses and a good overall GPA, you should be able to get some interviews with a good firm. A “C” in auditing shouldn’t affect you.</p>

<p>I worked for one of the Big 4 at the time. At no time did they ask what each grade was in each courses. All they worried about was my accounting GPA overall and my overall GPA.</p>

<p>Incidentally, I had straight “A’s” in all accounting courses with the exception of auditing in which I got a C+. The big 4 not only made me offers,but I eventually participated in recruiting.</p>

<p>I have a Bachelor’s degree in Business Administration from Nova Southeastern University. I’ve decided to pursue Accounting and a CPA license in Florida. From my understanding, to sit for the CPA exam in FL I need 150 hours of coursework, 36 of which are upper level accounting or tax courses and 39 of which are general business courses. (I think FL requires more coursework hours because they don’t require work experience for the CPA license like other states). I have already satisfied the 39 hours of business courses. So, as I see it, my next move is to acquire a Master of Accounting.</p>

<p>I live in Miami, Florida, so I’m considering FIU, Univ. of Miami, and Nova, because they are all easily accessible for me. Based on the threads I’ve read so far, the consensus is that the college you attend is irrelevant so long as it is AACSB accredited for a career in accounting. FIU and Univ. of Miami are AACSB accredited; Nova is in the process of becoming accredited (2 years in a 3-4 year process). The Univ. of Miami is more reputable (Tier 1) than FIU and Nova (Tier 4), but tuition there is ridiculously high (more than double the price of FIU and Nova). </p>

<p>I’m concerned about FIU’s reputation, but apparently the big four companies recruit from there. Does the reputation of a university not matter if my goal is to work for a midsized accounting firm? What school should I attend? Will it even matter what schools I’ve attended in the past once I get my CPA?</p>

<p>You answered your own question. The school you attend does not matter. You need to focus on keeping your GPA high in your accounting classes and passing the CPA exam. If you can do these two things, and are a well rounded individual, you will have no problem landing a job at a mid-sized firm.</p>

<p>I recently graduated with a BA in finance. I am looking to get my MS Acc at a school in the NYC area. I do not yet have relevant work experience. If I start a Masters program this January, what is the best way to get a Public Accounting internship the following summer? Suppose I manage to get an interview this fall, do they ask technical accounting questions? I am worried about this because my last accounting class was 2 years ago – junior year intermediate accounting.</p>

<p>In my experience I was never asked any technical accounting questions in the interview process. As for obtaining an internship, first check with your grad school, more than likely they have a career center that can help you get in touch with recruiters or help set up on campus interviews. Also, check and see if there are any job/internship fairs in your area. A lot of information can be obtained directly from the firms websites for recruiting events. You eluded to it in your post, but you certainly would want to get going on this process by this fall. The larger firms tend to recruit a few months out and the sooner you start the process, the better.</p>

<p>UF offers a joint-degree program in which you can earn your JD and MAcc degrees. Originally I intended to get a MAcc degree, sit for the CPA, and work for the Big 4/Large Accounting firm for 3-5 years (for valuable experience). The thing is I can easily get scholarships + prepaid so the JD/MAcc program will cost me virtually nothing. I think it wouldn’t hurt to have a law degree as well.</p>

<ul>
<li>What are your opinions on this? </li>
<li>Career options/Salary comaprisons?</li>
</ul>

<p>I don’t intend to pursue accounting for the rest of my life. I’m only using it as a way to create more opportunities while at the same time earning a nice living (job security, etc.). My ultimate goal in life is to start my own business and eventually accumulate others. </p>

<p>[UF</a> - JD/MAcc Program](<a href=“http://www.cba.ufl.edu/fsoa/programs/jdmacc/]UF”>http://www.cba.ufl.edu/fsoa/programs/jdmacc/)</p>

<p>Well, having a law degree isn’t bad IF you want either tax, estate planning or forensic/ criminal work. Otherwise, it may cost you something that is very precious: three years of your life!</p>

<p>I was wondering if Big 4 work experience is a very good stepping stone into a top notch MBA program? such as Harvard B-school or something of the sort? I understand that it all depends on what you do at the big 4, but usually there is a system of promotions through the big 4. On the normal track of promotions, would the Big 4 name help a lot?</p>

<p>I’ve seen resume books of Top 15, and they include Big 4 alumni. It’s a legit path.</p>

<p>Hi I have a question about what accountants do in the long run. </p>

<p>A lot of my friends who are recent grads have landed jobs with firms, but I’m interested in what many accountants do with their careers. Obviously, they can choose to stay and become partners, etc, but what types of fields do others go into once they’re tired of, or feel that they have learned enough? </p>

<p>My goal right now is to land a job with any decent firm, but I am also trying to see my options maybe 15-20 years down the road from here.</p>

<p>If you want a really broad answer - there are basically two paths for accountants; public and industry. Many accountants start in public accounting and end up in industry in positions like controler, CFO, etc. However, you certainly are not limited to “accounting” positions. I also know of people with accounting backgrounds who are now CEOs, HR directors, lawyers, recruiters, and the list goes on. Accounting really allows you to understand the nature of business and the impact of business decisions, especially if you start in public accounting and are exposed to a number of different types of businesses. Sorry for the vague answer, but the possibilities are endless.</p>

<p>A lot has been said about accounting itself but how about Accounting Information Systems (AIS). For those who are have an interest in Information Technology/Systems & would also like to pursue accounting, what is a possible route to success for them? CPA worth it?
As far as undergrads goes, I am assuming a Major in Accounting & a Minor in MIS would get you a desired job as an accountant practicing accounting yet also working with information systems. If possible, please also comment on the job outlook whether it be in public or private (class of 2012) & possibility of either moving up the ladder or the easiness of switching to a different field later on (like finance).</p>