<p>Noimagination asks,"1) What kind of problem solving do accountants and auditors actually do? What does a normal project entail?</p>
<p>Respnse: When Dawgie says everything is repetitive, A lot depends on the firm and the project that you are on. Both my sons , who are in auditors with midsize firms, didn’t feel there was a lot of repitition. In fact, my son Matt, got a very interesting job preparing a dozen cash flow statements and balance sheet, where there were holes in the information given him. He had to do some interesting problem solving in order to properly complete these statements. Matt was also given some tax returns to prepare too beceause he wanted the experience.My other son fel that each client was different and had different approaches to each audit.</p>
<p>Beginning accountants at big 4 firms usually aren’t given too much sophisticated work. However, the work does get harder and more sophisticated. Again, let me repeat this, the caliber and type of work does vary with the nature of the client, type of accounting firm, position held within the firm, and even on the experience level of the accountant.</p>
<p>2) Do accounting firms (especially the Big 4) provide stable employment, or are layoffs a constant risk?</p>
<p>Response: I will give you a clear cut answer: it depends. If you have a strong work ethic, good skills and good decent people skills, accounting can be fairly stable since companies need accountants in both good and bad economies. The big4, howwever, are known to have layoffs. In addition, the big 4 tends to week oiut the bottom 10% of the performers each year. If they feel that you don’t have the ability to make partner eventually, they usually notify you to get a job. Many of these folks, however, do get jobs with their clients. Understand, as I noted in post one, “Everything you should know or want to know abouit accounting,” accouinting is a weed out profession in many ways. The courses try to weed you out. The CPA exam is very tough and, thus, weeds folks out. Even accounting positions, especially at big 4 firms are weed out positions in that they usually fire the bottom 10% each year to make up for new arrivals, al least this was the way they worked 30 years ago. Maybe this has changed,but I doubt it.</p>
<p>No industry is immune to layoffs except maybe doctors. Even lawyers just got laid off in mass recently. However, overall, accounting tends to be a more stable field than most because people, with good skills and work ethics, can usually find jobs throughout their life. I have never seen accountants, that I know personally, ever be unemployed for any significant period of time. </p>
<p>3) I have decent people skills but am not the sort to participate in a ‘good old boy’ network (I prefer to judge based on merit). Does accounting tend to be very cliquish, or is work quality ultimately valued?</p>
<p>Response:Politics is always important anywhere you go! Say that five times. All firms want people that fit into the culture. Yes, merit and work quality are very important,but so is adapting to the culture of the firm. Let’s face it, no one is going to make people partners that they don’t like or get along with.
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