Accounting question, random I know

[manderly6]

Originally Posted by kmc1186

This is random but I wanted to poll the audience to see if anyone had experience with this. I am a senior audit accountant who just recently started with a national firm. Many of our clients include city governments. I heard from a coworker that I should expect to work every Saturday from October through the traditional end of busy season in April. Has anyone had this experience or even heard of this before? Thanks!

I don't consider this unusual. But it may very well be on a client by client basis. Luck of the draw as to who you are assigned to.

[slim04]

Originally Posted by kmc1186

This is random but I wanted to poll the audience to see if anyone had experience with this. I am a senior audit accountant who just recently started with a national firm. Many of our clients include city governments. I heard from a coworker that I should expect to work every Saturday from October through the traditional end of busy season in April. Has anyone had this experience or even heard of this before? Thanks!

FYI, city governments have varied fiscal years, often at 6/30 or 9/30, so there isn't a busy season crush like for calendar year companies. Because of this, you might be on a job with a tight deadline that requires working on a Saturday in October through December when most auditors are struggling to find chargeable hours.

I think they are just trying to get you to expect to be on call on Saturdays in the Fall and early Winter, so you won't complain about it down the road (i.e. I have tickets to the homecoming game, so I can't work this Saturday). I seriously doubt you'll work consistently throughout Oct. to April on Saturdays.

That's why a lot of people like specializing in nonprofit or government auditing, because the hours are more consistent throughout the year and it is easier to raise a family. The downside is that business usually isn't nearly as profitable and partnerships are very hard to come by, sometimes almost impossible at some firms.

[stlouisan]

THe thing that keeps me wondering is that is it still possible to make a lot of money and do well as an accountant without ever working for one of the Big 4? Part of what scares me is that a six figure salary is unattainable as long as I'm not working for myself or starting out with a well-reknown firm. And not passing the CPA. THough I know plenty of people who have managed to make six figures as an accountant without passing the CPA.

[slim04]

Originally Posted by stlouisan

THe thing that keeps me wondering is that is it still possible to make a lot of money and do well as an accountant without ever working for one of the Big 4? Part of what scares me is that a six figure salary is unattainable as long as I'm not working for myself or starting out with a well-reknown firm. And not passing the CPA. THough I know plenty of people who have managed to make six figures as an accountant without passing the CPA.

It is based on your skill level and talent. Accountants are not monolithic. Extremely talented accountants will do well regardless if they have a CPA or not. However, an extremely talented accountant will usually be able to pass the CPA if they have time enough to prepare for it.

The Big 4 is just one path, but one that provides superior training and a diversity of experiences that is hard to get at a lot of employers. The firms have a specifically designed career path and regimented schedule of increasing skill development and responsibility. Other places do career planning and development totally haphazardly. So at one place you can have a great boss that goes out of their way to develop your skills and provide you with a lot of difference experiences and others that doesn't do squat and you have to learn everything on your own and find opportunities yourself.

I know accountants that even after 10 years cannot do simple interpretations of GAAP, so those folks will never be controllers (except for very simple organizations) or directors of financial reporting. The more you learn conceptual stuff and get away from mechanical processing of information, the higher you'll go as it is a big differentiator. Some develop those skills right away in college, some it takes years on the job, and others they still struggle with it.

The other issue is how well you manage and supervise other employees. Can you accomplish getting your work and projects done and make sure those underneath you do a good and efficient job? Very skills accountants that are poor managers may still end up doing well as technical consultants or doing extremely technical or specialized work, but generally don't end up in management.

Both of those skills (technical and managerial) will get you a good job, but it is how smart, ambitious, and hard working you are to get there, regardless if you start at a firm. Those that just dial it in and check out at 5pm are destined to be staff accountants for years or decades.