Cpa consulting reddit. I’m a CPA hoping to break into management consulting.

Cpa consulting reddit : r/Accounting     Gaming Sports Business Crypto Television Celebrity r/Accounting r/Accounting What are the requirements for advisory/ consulting. Is a CPA likely to succeed by starting their own accounting firm doing audit, tax, consulting, and bookkeeping? The title says it perfectly. Edit: Considering an accounting degree, is it worth going to a big Uni or should you stick with a smaller and cheaper… If you are working at an accounting firm with a bunch of fair value review work, you'd be travelling less/not at all. I have almost 3 years of experience in audit and am hopefully a couple weeks from receiving my CPA (passed exams just pending approval). I have all the study material and plan to start sitting for the exams early next year. : r/consulting r/consulting Higher supply maybe due to needing a couple years + of experience to get your CPA and it’s often easiest to get it through a PA firm, coupled with most jobs in industry wanting you to have a CPA whether that’s relevant or not to the job (ex: a bookleeer with a CPA? We would like to show you a description here but the site won’t allow us. It seems like people tend to think recruiters are shoving this place down everyone's throats, but I have seen some positive opinions too and just wanted to see a present-day consensus. However I was wondering if it can still be as financially lucrative as getting an industry job at a Fortune 500 company? Would love to know if small firm owners are really bringing in the dough or are you getting paid a comparable amount to a like a big 4 manager around We would like to show you a description here but the site won’t allow us. Be careful, very common they will tell you can work for-profit audit, and then have you working Not-for-profit for years before earning any good experience to market yourself to We would like to show you a description here but the site won’t allow us. My question is: When people say they work for industry, does that mean that they work for a private company (Not an accounting firm)? If so On my end, I only want to focus on tax consulting, compliance, prep and representation so the EA is perfect for me. Cheapest option is $179, but if you can get it expensed or plan to use some of the CPE they offer for practical use outside public accounting (management, personal development, consulting services, technology, etc. There’s also a good mix of worldwide groups down to OMBs, and a range of sectors, that I work on which is great in tax for my own Yes, fund accounting is quite specialized, and if you do it too long you might have a tough time switching to a different industry at the same level. These are NY/Bay Area numbers. I have appx 4 years of public accounting experience. Period. A lot of big 4 "consultants" do very accounting-related jobs, take risk advisory (IA/IT audit), financial advisory (due diligence/valuations), accounting (CMAAS), tax advisory, or forensics. One of the coolest accounting-related opportunities, but I'm personally not too sure what kind of exit opps are available. I am currently asking for best practices to run a small 3 man firm and how to attract new clients. Both are crazy easy relative to CFA but way more valuation-focused. In Advisory (RFA) you can work at the analyst, consultant, and senior levels without any certifications. Public accounting is the best and easiest place to get work experience for your CPA. ), it could be worth it, also cuts out all the effort in trying to find enough CPE hours each year. People who did the typical 2-5 years at big 4 then moved to industry, how did it work out? After obtaining my CPA I am quite keen to try out consulting, within a big 4 is easy to make this internal transfer? Any advice for making the switch, prep cases, just network with the teams? 4 years into accounting at B4 in audit Salary is low six figures. Let's examine the definition of accounting consulting and describe exactly what accounting consultants do, how to become an accounting consultant, why you should consider making the switch, and much more. A CPA could be useful if you're doing audit or accounting-type work. Consulting Platform (Tax Consulting, Deals, Transformation, Cloud & Digital, Cyber Risk & Reg, Managed Services) Sector (Asset & Wealth Management, Banking & Capital Markets, Consumer Markets, Energy Utilities & Resources, Health Services, Industrial Products, Insurance, Pharma Life Science, Private Equity, Tech Media & Telecom) After 6 years in of being an auditor in the Big 4, here are some of my thoughts in no particular order. The majority of audit exit ops are: work in an accounting dept/internal audit/switch to consulting (harder than it sounds unless you have a consulting partner pushing for the transfer) and the connections aren’t great. would you ever work for Andersen? idk how they overcome 20 years of being the go to example of what not to do in PA in almost every accounting class The audit clients went to other public accounting firms as their audits were no longer trustworthy. Share Add a Comment Sort by: Best Open comment sort options jabthejesusfreak • I spent about a decade in small to mid-size public accounting firms and every year I was trying to educate the gerry's on how to be efficient and how to avoid the tax season grind. For background, I've actually spent the last 3 years in accounting at an agency after spending 2 Tax accounting is the most lucrative accounting services you can offer. If you’d like to be a manager you need a cert (anything from PMP to CPA to CMA to CISA, there is a very long list). I decided to finally jump ship last year and go alone. The reason being auditors prefer strategy and management consulting if they would to go into consulting industry. The dream of many big 4 dudes is to find a job in "industry" i. "SAME AS LAST YEAR" LOL Also, our firm does sales tax, local taxes and bookkeeping for S and C corps because in order to do their taxes we also do Risk consulting can mean a lot of things across firms. Hi everyone! I’m a CPA with 5 years of tax experience currently working for a “virtual” tax firm that provides small business services to business owners nationwide. Reputable, absolutely. what’s the day to day like? I’m assuming a lot of research and memo writing how are the hours? I don’t mind a consistent 40-50 hr week but previously was in tax and When you first become a partner or principal (principals being equity partners without CPAs), you have to buy in to the firm to the tune of $500,000+ by buying units. S. Primarily for accountants and aspiring accountants to learn about and discuss their career choice. I did peak last year at 70 for a couple weeks. com) A community for Redditors who are tax professionals to discuss professional development, firm procedures, news, policy, software, AICPA/IRS changes, news/updates about law relating to any tax - U. If not, it's still a credential that shows you're not a total idiot, but recruiters could peg you into accounting roles (not that there's anything wrong with that). Jan 1, 2019 · Many CPAs are drawn to consulting, often as a bridge to retirement or a short-term gig. I don't know if there is a time frame for experience post test completion, your rep at TSBPA will probably know. Ways of keeping that cost down? How do you manage your CE credits? : r/Accounting     Gaming Sports Business Crypto Television Celebrity r/Accounting r/Accounting I'm currently a junior in college and I recently signed with A&M for an internship next summer in their Global Transaction Tax/M&A practice. I was thinking identifying and correcting weaknesses in accounting systems and internal controls would be a good fit for me. However, if you enjoy it, fund accounting is a great and often lucrative specialty. Hands down best decision I’ve made career wise. They seem to have higher pay, better career trajectory, and people make it seem better than audit. I’m a CPA hoping to break into management consulting. IME, the MM non-audit firms like Duff, Riveron, etc. 8. They star their own practice and make more money than an auditor with less work. Valuations: Use your accounting skills to value assets. outside public accounting so you would be better off by continuing gaining experience outside big 4, get your CPA, if possible a masters degree or certification and trying to get a job at a finance or accounting department of a non-accounting company. Thinking of moving into ERP consulting from general accounting,, pros and cons ? We would like to show you a description here but the site won’t allow us. You go to engagements just like audit, part of a team, have deadlines, deliverables, tons of detail work, meetings, etc. Hello I am planning on opening my own firm in a few years after I get my CPA and Masters. How To Start Independent CPA Contract Consulting Business From Scratch? I would like to do contract accounting work on my own, independent of a staffing agency or recruiter. Greetings r/Accounting Community! I was doing some research the last couple of days to find out if any others had experiences with Robert Half's Salaried Professionals program. Tax consulting is in high demand, and there is a good demand if you want to jump to industry after public practice. Considering venturing out as a sole proprietor and offering my knowledge and experience. It was the kind of experience that genuinely makes you realize no job is worth your health or sanity. That translates into 9 am to 9:30 PM M-TH, normal Friday for the 55s I have the option to choose either auditing or consulting internship. I also don’t want to hear the anecdotal non-sense responses. I am a licensed CPA that recently started my own firm helping small businesses develop and grow. Questions about DD : r/consulting r/consulting Current search is within r/consulting Remove r/consulting filter and expand search to all of Reddit I am a CPA and currently enrolled full time in an industry position. So I'm looking for advice on whether to take an offer with CFGI to be in their main advisory/consulting practice. Some names I have heard are Financial Due Diligence, Accounting Reporting My brother started his own business offering marketing and business strategy and other consulting services, and I’ll be getting client referrals from him based on their accounting needs. I’ve read prior threads and don’t really come away with a good understanding of consulting vs. Reply reply diamondtideez • But if your CPA buddy is an auditor for a private company, he might not be much help (or even want to bother) if you are the owner of a company or get 1099s. Some of them get retrenched in recent years as there i no flows of deals. You don't have to stay long, a year or two depending on your state will do it and then you can work somewhere you actually like. You may find a group of practioners The only knock I’ll give consulting is if the service line you end up in (if you end up getting an offer) will count as the requisite experience to become fully CPA licensed. CLA's pay scale is the lowest out of any of my friend network, and obviously less reputable than GT or BDO. Does anyone who has made this jump/heard about others transitioning have any advice? Is this a doable switch to make? 234 votes, 76 comments. The best way to stunt your career growth in any accounting role is to not get your CPA. Reply reply more replies more replies More replies idrathertakeabath • Boston ICS20 National consulting Doing great 62k - 66k 1,500 5, relatively happy but wish ICS was valued like ECS Reply reply throwaway7837q1 • Southeast (MCOL) A2 -> SA1 Tax GC I couldn’t imagine that PE could own all of the large accounting firms. Probably much easier to move to "audit-lite" functions within your current function (hint: risk services) than transition totally into consulting. I have been trying to find threads or Reddit pages that showcase the journey of CPAs who started their own firms, and I just can’t find much of it. The firm arranges a loan for you which you pay off over time, and this is your initial investment in the firm. Go on the r/big4 and r/consulting subreddits and you will see so many layoff and quiet firing stories. What reason did this other manager give you as to why your career would not flourish? My guess is that the manager is a crappy auditor that got reemed by a forensic accountant for a failed audit. Me: non cpa left Big 4 at 3 years to consulting making around 100k-120k depending on how the economy is functioning. If you want to transition into consulting after there is typically a better shot than audits because your work had that aspect built in. They do actual work, if not more than audit. Take 'em or leave 'em. Department is billable all year and has low turnover and few hard deadlines which probably makes being manager/director a better gig than the other departments We would like to show you a description here but the site won’t allow us. There is usually a shortage of good talent, you are paid higher than your peers in different industries, and investment firms give great benefits and bonuses. and International, Federal, State, or local. Using accounting would be more corp finance, IB, other accounting practices in consulting (valuation, FDD, etc. Advice and questions welcome. How do I go about this? I can code HTML (make my own website), and am working on SEO to help market myself. And I'd get over the CPA over an EA in that situation. Is an accounting degree sufficient? Also what are the pros/cons compared to working in audit/ tax Despite the other comment here, consulting is a broad field. It should be noted that consulting is much more high risk/ high reward than what we do in accounting focused service lines. A community for Redditors who are tax professionals to discuss professional development, firm procedures, news, policy, software, AICPA/IRS changes, news/updates about law relating to any tax - U. Thank you. trueI always hear about the benefits of owning your own firm is the flexibility of your working hours. I know these salaries probably suck relative to workload, but with so many Controller positions out there in average COL areas offering $100-120k, this would be a huge pay increase and "upgrade" in experience. I have worked 4 hours of overtime in the last 7 months. Sep 10, 2012 · People in accounting are very narrow-minded and lack the creative thinking process that is essential. What you're referring to is management consultants, and the good ones don't really go to big 4. I’m currently a corporate controller for a fintech making $150k. I also scare that if I’m a consultant I can’t get into good project. From my personal interactions with them, they seem to be better than Big 4 in terms of the working environment and compensation, but I haven't met too many people that are familiar with the company. You need a firm like mine. Is this a reasonable rate for tax planning in California? To be clear, I am not looking for any cheap services. Other than that I would choose consulting over typical accounting jobs like audit/tax any day. She has the balance sheets for the past few years. I work 55-60 billable for 12-15 weeks a year. Consulting as a CPA?? Currently working as the CFO of a small organization making $80k w/ 10+ years accounting experience on my belt. Big 4 laid off a lot more advisory/consulting people than audit/tax this last year A lot of the work advisory does is ultimately optional for the client, if the client really wants to save money they can just delay the project or dump the work on their in house accounting dept Essentially the reason a client would pay fees for accounting Hey, I’ve worked at Crowe for a few years now, starting as a graduate in tax There’s a noticeable climb down in pace from the Big 4, but I personally prefer it and after speaking with colleagues who worked there, they prefer a firm the size of Crowe too. If you want to eventually get into business consulting, and bookkeeping then a CPA would be your best friend. Happy with the outcome?: Eh it's about average? We're all underpaid as a given so whatever. Just wondering: If you just started, why are you looking to move to Consulting? You say you're looking forward ("what options" you have) but you haven't even explored you options in your current position. One year of experience supervised by a current CPA. The title says it perfectly. Before entering public accounting, you can take elective classes for either tax or audit in college or you can also grab a coffee and pick the brain of professionals you’ve met. 43 votes, 62 comments. Hey all - I’m considering a move from B4 audit into consulting either at a B4 or a consulting firm. I also have a ton of experience with construction contractors, so something in that industry is appealing too. I can get CPA qualified with this experience (this is in the US). Whatever PE firm owns Baker Tilly won’t be able to invest in the audit clients of Baker Tilly, right? I passed all 4 CPA exams, but have only been working as a bookkeeper for a small local company. advisory. On average, getting the CPA is a massive differentiating factor to career growth and earnings. I’ve been in accounting for 11 years, 6 of those with my MS. The experience can be in a number of accounting related fields, audit and tax are the most common, but it can be consulting, forensic, or IA as well. When you said consulting at EY, do you mean tech/business consulting or SaT (or maybe it’s called advisory)? I’ve seen many folks moved from audit to TCF at SaT, either in TD (constantly hiring for CPA) or VME (not eligible for CPA program, more focus on CFA and CBV). 521 votes, 413 comments. Consulting has less consistency and you would definitely need to be good at the "sales" side as you get to higher levels. We would like to show you a description here but the site won’t allow us. Tax accountants don't work for companies. I'm currently scheduled to meet with them via a virtual interview Friday morning. Also, please add your salaries to the Big4Transparency website. That translates into 9 am to 9:30 PM M-TH, normal Friday for the 55s I don't plan to ever return to public accounting, but this makes it tempting for a year or two. So basically, I'm making this post in hopes of people who have gone through this process informing me of what I should expect and how I should prepare going into External audit exits to internal audit, transaction advisory, technical accounting advisory, corporate accounting, controllership, forensic accounting, and more. Question about CPA consulting costs Hello So I have brought much dishonor. It's often said that Accounting as a skill set doesn't hold much weight in other industries, so I'd appreciate if any people here who transitioned to other careers could elaborate on their success doing so. 614K subscribers in the Accounting community. Pretty narrow focus here and not as common to hop into IB as 2. I have never felt more fulfilled and rewarded in my career other than actually passing my exam. They take a 40%+ cut. Most Arthur Anderson Auditors when to another public accounting firm, in my market Chicago it seems a majority ended up at Deloitte. The CPA rate is $345/hr and quoted me for 2 hours. Welcome to r/Big4, a place to discuss everything related to the Big 4 accounting firms: PwC, Deloitte, EY, & KPMG. ASA and CPA/ABV are the most common/legit valuation designations IMO. Nov 2, 2024 · How do you guys make a little bit of extra money? I am thinking of picking up a contract position on top of my current full time job to pay The best way for an accountant to break into investment banking? The best way for an accountant to break into investment banking? We would like to show you a description here but the site won’t allow us. There are plenty of consulting gigs outside of strategy consulting. Is it worth getting consultant certification such as Prosci, PMP, Six Sigma, Financial Certs. Does anyone here work for BDO? How does their work:life balance compare to other firms? I may have an offer. For example, I’m doing big 4 management consulting straight from undergrad with just an accounting degree. I think determining whether you want to “do” accounting or “use” accounting is important. Thankfully I’ve been gaining knowledge and skills operating a business from him, but I’m waiting to finish my CPA. The consulting and accounting industries can consolidate into the "Big 4" because there are rarely conflicts of interest whereas there are 250+ Big Law firms because of the vast number of clients whos interests may conflict. Learn what you need to know before starting consulting work. I believe if you are in the traditional models for tax and audit (most client facing roles), you need a CPA to be a senior. Should i rewrite my resume to be more consulting focused, any tips? Do i have any shot of getting an interview? thanks guys i'm stressing I was in Big 4 consulting and left for commercial banking; I put in my two week notice 4 days after getting officially promoted to boot. We do business consulting, tax, investment management, insurance, planning, banking all under the same roof. Other firms were tough, as public accounting is, but that firm was a waking nightmare. Also, what did you do to MNP, from what I heard, is generally more chill compared to other public accounting firms in Canada. I was curious has anyone transitioned from a public accounting background to management consulting? If so, how did you do it? I’m having difficulty transitioning experience from my current job to management consulting roles. Jun 28, 2023 · Although obtaining your CPA is not required for my specific group, I've found that having this background increases my business acumen and allows me to pick up on business, finance, or accounting-related concepts in a rather quick manner, as I already have that base knowledge. I honestly don't know what a reasonable CPA rate is. In my research, I always like to add in some 'reddit' search parameters, because I enjoy reading the comments. If anyone has considered or is interested in the avenue feel 76 votes, 44 comments. A friend asked me to do some consulting work for his company and help clean up their financials. Many of the consulting partners formed new . You have to take a lot of initiative to teach yourself and put yourself on projects that will move you along your career. In audit your work sucks (tons of examples to why somewhere in this subreddit). There was a survey a month ago that says MNP apparently works the least hours of all PA firms - I don't know how they measured it but I can bet you any firm, there are bound to be toxic culture at one of the offices, no matter how good the company is. For consulting, they probably have the most mature methodologies of the four and best brand recognition. Share Add a Comment Sort by: Best Open comment sort options Top New Controversial Old Q&A AUMedStudent • Anyway, I was thinking consulting might be a good change of direction for me. Risk/security consulting: Consult on how companies manage their security and risk. The What’s the career path and progression like? Do I get pigeon holed in tech consulting forever? Will I ever be able to pivot back to finance? What is wlb like? Part of the reason I want to leave transaction advisory is because I don’t like working on multiple projects with crazy deadlines. Ik consulting gets paid higher but I am in MCOL and my intern offer for GRC was 81k you are defintely getting fleeced. Doing accounting would be corporate accounting, auditing, accounting advisory, tax. ). Leadership will often perceive the employees within the organization as replaceable. I owned a small ghost kitchen business (LLC) since 2020 and have avoided all things related to taxes since then, including my personal taxes. We are not a low cost option, but there are benefits to having CPAs, CFPs, Attorneys and bankers available for consulting because they can collaborate with each other on your situation. I tried to get into forensic accounting earlier in my career but could never find an opportunity. Some of my insights from my time at Deloitte to consider if you plan to work there: Deloitte's brand reputation, benefits, and prestige appeal to many, resulting in a high influx of potential employees. Our services: -Bookkeeping & Accounting -Financial analysis -Tax preparation & planning -Development advisory -Inventory management -Business consulting Besides this obvious post from reddit (duh?) in what other ways do owners such yourselves like to be marketed towards? I am thinking of going to A community for Redditors who are tax professionals to discuss professional development, firm procedures, news, policy, software, AICPA/IRS changes, news/updates about law relating to any tax - U. I'm also drunk. are more in the tier of RSM/GT/BDO than Big 4. Which one would I pick? I am Accounting major and plan to get CPA, but I’m interested in working in merger and acquisition. What has caught my attention are the technical accounting advisory groups within the Big Four. e. Pay is pretty decent and WLB is feasible. Non-CPA here - I don’t think it’s held me back. Most assurance folks needs to go advisory before transitioning to consulting. Accounting Primarily for accountants and aspiring accountants to learn about and discuss their career choice. They serve very middle market companies and compete primarily on price over Big 4 for larger MM clients. Although consulting has a much better sound to it, its not that much more glamorous than auditing. Is there a clear way to describe the differences? Culture? Pay? Jerk quotient? Promotion potential? In the end, does it really even matter career-wise? Obviously, a lot depends on specific projects, teams, leadership. I’ll prob get downvoted here but that is the truth whether people like it or not. You'll get paid more at these firms, but they're also chronically understaffed, so you'll be working a lot more to earn that extra pay Cons: -you lose all traditional CPA exit ops -you get pigeonholed into doing only It audit related work -disrespect from real consulting folks at the firm -you won’t learn anything useful or technical at this job -you don’t really need to use your brain in the staff/senior levels, mostly just taking screenshots of shxt and copying and pasting Have an interview at a mid tier (RSM, GT, BDO) for an experienced associate accounting advisory position. I want to make 100%. Link to 2022 Comp Thread: 2022 RSM Compensation Thread : Accounting (reddit. You can build a career (leave CLA 3 or less years) and earn a decent salary in private. Based on my experience, I would to advise you towards corporate banking over risk and compliance as transactional work is a lot more interesting in my opinion (having done both). Also note that consultants get paid more I didn't realize continuing education was going to be so expensive. If anyone here currently or has worked in this service line I’d be interested in hearing more about the following. I'm curious if anyone on here has either worked for Some context… incoming 3rd year undergrad, secured Big Four audit internship for 2022 summer but feel like I could aim higher. The views and opinions expressed here are those of the authors and do not necessarily reflect the official policy or position of FTI Consulting. I came across a variety of inquiries posed to the community, but very few insights from those who've been in I am currently a 2nd year accounting major, and as the title suggests, I've been approached by a PwC recruiting manager for an internship opportunity. Now, I'm not saying that this is necessarily true, but its how many people in the industry view accountants from my personal experience after speaking to a great number of consultants. Has anyone in this group taken a similar route? What skills and services do you offer in particular? Is Forensics accounting more ‘interesting’? How difficult is it to break into? Discussion Share Add a Comment Sort by: Best Open comment sort options Top New Controversial Old Q&A CPArchaic • Unofficial subreddit that is not affiliated in any way with FTI Consulting. A good chunk of the tax partners started Andersen Tax which is still around and well respected though much smaller. You need to really sit down with them and get a good feel for how they plan to go about your accounts. I’m in my final year of university, I’m just wondering besides a big 4 graduate program, what other options are there were the… Looking to get into Deloitte, I am graduating in July, I have a job lined up during the summer in finance/accounting at a law firm while i finish undergrad. Is a CPA likely to succeed by starting their own accounting firm doing audit, tax, consulting, and bookkeeping? Provide many services such as month end close, audit liason, advisory, consulting, process improvement, SALT, FP&A, software implementation, etc. Is forensic accounting a dead-end career? Only if you believe no one will ever commit crime again. Hello, Curious to know what is the hierarcy in Deloitte US & the difference between Principal, Partner and Managing director? These designations are of folks who are / have taken various rounds of interviews and hence curious. Reply reply SeattleCPA • Better pay and WLB than auditing but “riskier”. In Chicago, you should look at Duff & Phelps, Stout Advisory, Prairie Capital Advisors. No one is special Deloitte has a somewhat clique-y corporate culture. I think the biggest con of "consulting" is that consulting is fairly ambiguous in terms of career path because it's so broad. Now that I am done with the exams, I am looking for a more qualified position (As there's no way this job will qualify for the work experience requirement). Consulting or internal facing roles I think are Looking to switch to consulting after qualified, how hard would it be? Am not too picky of which line within consulting but ofc management/ strategic consulting would be nice. This usually comes with high barrier of entry and not sustainable (my audit batch the top performer went into management consulting and quit by the third month). For what it’s worth, I eventually went to a firm conference with other experienced managers and shared a portion of what I was being subjected to We would like to show you a description here but the site won’t allow us. Primarily for accountants and aspiring accountants to learn about and discuss… I don't plan to ever return to public accounting, but this makes it tempting for a year or two. Most people leave after 5-7 years for 130-160 depending (non profit vs other consulting roles or advisory or industry controller roles). I worked for a competitor to Riveron in the MM space. Are they all the same level with different responsibilities or? Thx for your inputs. Also, what did you do to Welcome to r/Big4, a place to discuss everything related to the Big 4 accounting firms: PwC, Deloitte, EY, & KPMG. Luckily I had hired a bookkeeper which I realized too late wasn’t an accountant. Your advice is greatly appreciated. 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