Pros and cons of accounting/CPA

[fngTony]

My BIL thinks reconciling is about the most exciting thing a person can do.

Lol, So does my wife.

 

[dieNqvrs]

Way more responses than I was expecting haha. I can’t tell you an exact reason why I even started looking into this field. The more I look into it, I see there are multiple routes a person could go.
I’m currently 30 and never graduated college, I work at a processing plant and make an ok living.
Really just getting bored with what I do and I’m looking for a change. Going to have to go back to college to increase pay, but that really isn’t the biggest factor.

Would take other suggestions for a new line of work/study. I’ve only just started looking for new options.

Couple of ideas.

Environmental- green house gas emission monitoring, calculation, reduction and reporting is starting to be a big area of emphasis for every business.

Health care- lots of demand in this space now and moving forward.

 

[jbosk15808]

Way more responses than I was expecting haha. I can’t tell you an exact reason why I even started looking into this field. The more I look into it, I see there are multiple routes a person could go.
I’m currently 30 and never graduated college, I work at a processing plant and make an ok living.
Really just getting bored with what I do and I’m looking for a change. Going to have to go back to college to increase pay, but that really isn’t the biggest factor.

Would take other suggestions for a new line of work/study. I’ve only just started looking for new options.

I'm in the power industry and there's a need for everything from lineman, engineers, sub techs etc. That would be my recommended industry. Most power jobs you can pick your state where you want to live and find an opportunity.

 

[kennygss]

It is an invaluable skill, and easily transferable to all kinds of other things. A good, trustworthy accountant is always an asset to a business owner. If it is your "thing" and you can love it and excel at t, its a great path.

 

[seww]

I've been in accounting since graduation in 2008. Not a CPA, but works as financial controller for the last 10 years. Once you have the experience like I do, a CPA seems overkill. I started and got the books and everything, but man it's boring!

I've been in the mining industry. which was interesting with the large investments and machines! Then I've been doing financial consulting via a few companies where we help new start-ups. Also super interesting!
Right now I'm working with a few Private Equity firms and also a few smaller start-ups. Trying to get more experience in the FP&A sector to maybe work toward a CFO role in the future. Getting close to 40 so it's about time

But being an accountant vs controller is pretty different. I don't do much of the daily bookkeeping stuff or reconciling bank accounts etc. I mostly control and confirm the work of the accountants and correct/adjust where necessary.
I have been lucky with finding good companies with good benefits and work/life balances. Sure sometimes you pull a long shift but hasn't been that often in the last 2 years. There are no shortage of work for accountants/CPA's, pay/benefits are usually very good, now with remote work we have lots of flexibility etc. It's not a bad career choice if you like numbers and Excel

 

[bowhunter307]

Been a CPA for 10 years (Tax). So many pros, too many to list. Cons really depend on what industry you choose and firm you end up in. Insane demand for CPAs currently, and most firms seem to be increasing salaries while decreasing hours and pushing for more work life balance.

I'd be happy to chat on the phone and go over any questions you might have.

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[MNBill]

Many of the pros and cons have already been stated. I will give some additional perspective. First, accounting is the language of business. It forms the basis for answering the questions “can we do this” and “should we do this”. In short a person with an accounting background is invaluable to a growing business. Look at the CEOs with an accounting background.

Second, a CPA certificate “goes with you” to the next job. You no longer need to work at a factory with machines to make a living. You are the machine. Also keep in mind with a CPA ticket you have the ability to have your own office and business.

Some cons.

First at least when I was in school in order to get a “ticket” (CPA license) you had to do 2 years of supervised work. Don’t know if that is still true.

Several have mentioned the hours. They can be brutal in public accounting.

If you are going to move up in public accounting, you will likely need an advanced degree such as a masters or PhD.

Now for some encouragement.

Back in the late 80s I was in your spot. I worked in a large national meat packing plant. An injury made me reevaluate some life choices to say the least. I went back to college and got a BSB in accounting. I was advised that if I went into public accounting I would need an advanced degree. By doing that I was then committed to public accounting or teaching.

I wanted more career options so i chose to go to law school. Took the CPA exam during the first year of law school. It was a b**ch but I got through it. I worked for a law firm for 3 years and then opened my own practice in the area of negotiating settlements for individuals and businesses with the IRS and several states. Got to use both parts of my education. To say the least, it was extremely helpful to be able to read financial statements and the present a financial and or legal argument to the taxing authorities.

In short, there are many options with an accounting degree. You can do this if you want it!

Just some ramblings from a retired guy that has BTDT! Good luck!

 

[txjustin]

Do like adding up facts, and simply stating: this happened? Or, do you like to understand the why of what happened, and use that knowledge to help future decisions?

If the first, be an accountant. If you're more the 2nd type, then Finance or FP&A is a good path

I work in Corporate Finance and FP&A. I can do the accounting if needed, but much prefer accountants to do that while I put the "story" together of where we were, where we are, and where we are going and paint that picture with numbers.

It takes a team though, and we all work best when we work together.

Good analysis. I also work in corporate finance. I also work with many cpa even though I’m not one


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[Afhunter1]

I originally wanted to be a CPA. I got a bachelor's degree in accounting and later went back for an MBA. I am qualified to take the test but have had a change of heart. I’m not a desk kinda guy. I have to be free to roam so to speak. I run a manufacturing business and do all of the financial aspects for it as well. I really enjoy it and I will prob partially retire at 50ish. Got one more kid to get through college and I’m out. I have a beef farm and some rentals on the side that I hope to make them and my investments my full time gig. There is good money in accounting if you work hard and always set goals and work for them.

 

[Archerichards]

Thinking on going back to school for accounting and try to be a CPA.
I don’t personally know many people in this line of work.
Any reason not to go this route?
Pros and Cons?
Appreciate any feedback

I have worked alongside a lot of accountants, most of whom were also CPAs. The work is hard, and is best suited for those with the mental focus and work ethic to apply to it effectively. That said, they make excellent livings and are almost always considered community 'professionals', like doctors, lawyers, etc.

Said another way, if you go into that line of work you will likely end up very gainfully employed.

 

[Sherman]

Although “Luke” from “Eastmans” never did settle the “is a hotdog a sandwich?” debate, he did say to message him with any questions. You could probably find out more from Luke from Eastmans than any of the other slapdick CPA’s on here, you know, since Luke from Eastmans did specify for us to ask him any questions

 

[Where's Bruce?]

Steady interesting work.

 

[eye_zick]

Way more responses than I was expecting haha. I can’t tell you an exact reason why I even started looking into this field. The more I look into it, I see there are multiple routes a person could go.
I’m currently 30 and never graduated college, I work at a processing plant and make an ok living.
Really just getting bored with what I do and I’m looking for a change. Going to have to go back to college to increase pay, but that really isn’t the biggest factor.

Would take other suggestions for a new line of work/study. I’ve only just started looking for new options.

As an accountant - I started in public accounting, worked multiple busy seasons. I went to a small business in the construction industry.

Pros - There is a business using accounting/finance in every sector of the economy. You can do "boring" accounting for spectacular companies, which almost remove the boring part of the work.

Cons - Public accounting is almost required career boot camp if you want to actualize your earning potential. The jobs that pay the best in accounting require the most work. Little work/life balance for high earners. I left the high earning jobs to gain balance...

 

[N2TRKYS]

There’s one big con, but that’s all it took for me to not go into that field. The con is the busy time is during turkey season.

 

[tony]

I'm just a nobody with basic taxes. My guy charges me right around $200.00 a year.
He must be doing good, owns a bunch of property and business' in my little town. A fairly decent sized farm.
Hunts and fishes all over the country.
Takes maybe a half hour to do my taxes and that's with me and him BSing.
Thought it would be an interesting job as well, heard the CPA test is a bear though.

Only job suggestions I have is stay away from EMS (Paramedic) and defiantly stay out of nursing! Money is good, medicine and the worsening by the day shit that goes along with is not worth it.

 

[conley417]

Look into sales & use tax accounting jobs

Doesn’t have the typical tax busy season.
Sales & use tax laws are interesting and vary on a state by state basis.
Companies are always hiring these positions because they are pretty specialized.

 

[SquatchHunter51]

A little late to the party but accountants with a CPA are and will be in demand for the foreseeable future since graduate rates are way down. Public accounting is a meat grinder but you can always leave after 2 years for just about any higher-level staff accountant job in an industry you want to get into. Another pro is a very structured raise and promotion schedule

 

[go_deep]

I would have went with a thread title of, Pluses and Minuses of Accounting/CPA?
Somebody's got to do it.

 

[Rich M]

Im a licensed professional, just not CPA.

Did well in accounting in college, honors in mba.

A good way to go. $$$ work and limited schedule.

Ida gone the route uf i could w what i know now.

 

[flyingbrass]

One of the most valuable and marketable careers around!