Thanks for the great info.
I found out I’m able to go back to business school at university and get directly admitted into the bachelor of commerce program there (already have a BSc in math/physics). So far my plan is to complete the degree (get as high marks as possible) and then start pursuing the CGA designation. After doing some research this seems to be a good fit for what I’m interested in as far as a career.
[quote]power_bulker wrote:
and then start pursuing the CGA designation. After doing some research this seems to be a good fit for what I’m interested in as far as a career. [/quote]
Your Canadian, I assume CGA is the equivalent of the CPA?
Best part is you will be learning both IFRS and some basic GAAP. The US is set to convert to IFRS, but there are a couple issues, and I believe many people are just waiting for the first Enron type scandal to scrap the idea.
IFRS is less overall volume of shit to learn, and not fundamentally different than GAAP once was. GAAP has just evolved into a rules based system, more structured for reporting in complex economies.
[quote]countingbeans wrote:
power_bulker wrote:
and then start pursuing the CGA designation. After doing some research this seems to be a good fit for what I’m interested in as far as a career.
Your Canadian, I assume CGA is the equivalent of the CPA?
Best part is you will be learning both IFRS and some basic GAAP. The US is set to convert to IFRS, but there are a couple issues, and I believe many people are just waiting for the first Enron type scandal to scrap the idea.
IFRS is less overall volume of shit to learn, and not fundamentally different than GAAP once was. GAAP has just evolved into a rules based system, more structured for reporting in complex economies.
[/quote]
Yeah, it looks like CGA is the CPA designation in Canada. From what I found online most provinces allow you to open your own business as a CGA to manage taxes for small businesses, individuals, etc. Seems like the way to go…
[quote]power_bulker wrote:
countingbeans wrote:
power_bulker wrote:
and then start pursuing the CGA designation. After doing some research this seems to be a good fit for what I’m interested in as far as a career.
Your Canadian, I assume CGA is the equivalent of the CPA?
Best part is you will be learning both IFRS and some basic GAAP. The US is set to convert to IFRS, but there are a couple issues, and I believe many people are just waiting for the first Enron type scandal to scrap the idea.
IFRS is less overall volume of shit to learn, and not fundamentally different than GAAP once was. GAAP has just evolved into a rules based system, more structured for reporting in complex economies.
Yeah, it looks like CGA is the CPA designation in Canada. From what I found online most provinces allow you to open your own business as a CGA to manage taxes for small businesses, individuals, etc. Seems like the way to go… [/quote]
I’ll speak to that in a quick manor.
In the States, if you go to open your own firm without the gray hair of experience, you will fail.
No one here, with real money, is going to trust someone out of school. Work for someone else for a few years until you learn, well a shit load. Then open your own firm.
I’d go CA if I were you.
[quote]countingbeans wrote:
power_bulker wrote:
countingbeans wrote:
power_bulker wrote:
and then start pursuing the CGA designation. After doing some research this seems to be a good fit for what I’m interested in as far as a career.
Your Canadian, I assume CGA is the equivalent of the CPA?
Best part is you will be learning both IFRS and some basic GAAP. The US is set to convert to IFRS, but there are a couple issues, and I believe many people are just waiting for the first Enron type scandal to scrap the idea.
IFRS is less overall volume of shit to learn, and not fundamentally different than GAAP once was. GAAP has just evolved into a rules based system, more structured for reporting in complex economies.
Yeah, it looks like CGA is the CPA designation in Canada. From what I found online most provinces allow you to open your own business as a CGA to manage taxes for small businesses, individuals, etc. Seems like the way to go…
I’ll speak to that in a quick manor.
In the States, if you go to open your own firm without the gray hair of experience, you will fail.
No one here, with real money, is going to trust someone out of school. Work for someone else for a few years until you learn, well a shit load. Then open your own firm.[/quote]
Of course, I was thinking more in the long term of eventually opening up my own business… until then working for someone else and getting the expertise is a good idea.
[quote]countingbeans wrote:
Best part is you will be learning both IFRS and some basic GAAP. The US is set to convert to IFRS, but there are a couple issues, and I believe many people are just waiting for the first Enron type scandal to scrap the idea.
IFRS is less overall volume of shit to learn, and not fundamentally different than GAAP once was. GAAP has just evolved into a rules based system, more structured for reporting in complex economies.
[/quote]
I have heard this many times from most of my professors, IFRS has all kind of crazy loopholes and stuff that can be taken advantage of. They also tell us that much of what we are learining will be obsolete a few years after the conversion to IFRS.
Quick question, for those who know people in the profession or are accoutants, do employers hire people with online accounting degrees? I know a few people who are doing this but, believe it might not work out. I have known people hired with online psych/english degrees but those are liberal arts degrees.
[quote]james28 wrote:
Quick question, for those who know people in the profession or are accoutants, do employers hire people with online accounting degrees? I know a few people who are doing this but, believe it might not work out. I have known people hired with online psych/english degrees but those are liberal arts degrees.[/quote]
Ah, we wouldn’t without a referral from an existing employee or unless you are at the career fair/involved in career services.
We recruit at schools. If you interview well enough, and physically can be part of the career day/fair/career services, it shouldn’t matter if you took classes online or not. We honestly wouldn’t know, if you didn’t tell us.
It’s very boring, but also very lucrative if you play it right. Get some hobbies (or a family), cash some checks, and don’t worry about it.
It’s also bullet-proof during a recession. People always need to count their money and pay taxes, no matter how bad things seem.
One of the higher suicide rates amongst professionals; re-read the first paragraph if you feel like killing yourself.
If you really want to make some skin, study economics instead, take the CPA test, and then go into finance/banking.
[quote]PeacePipeline wrote:
It’s very boring, but also very lucrative if you play it right. Get some hobbies (or a family), cash some checks, and don’t worry about it. [/quote]
Small firm is not boring. Nor is it boring to people who should be accountants… Unless you stay a staff your entire life, or in a career you hate, it is anything but boring.
[quote]
If you really want to make some skin, study economics instead, take the CPA test, and then go into finance/banking.[/quote]
This might be the worst advice I could imagine right now. First off the financial sector blows for getting a job these days. I assume it will turn around, but who knows.
Second, I’m not sure of your state, but I know that you can’t just sit for the CPA in most. You need certain education requirements in order to sit. Which economics does NOT give you.
Aside, 99% of people will fail the exam without some type of formal education or experience in the field. GAAP and Audit are not something most people can just pick up on a whim from reading a book for two weeks.
[quote]skaz05 wrote:
countingbeans wrote:
Best part is you will be learning both IFRS and some basic GAAP. The US is set to convert to IFRS, but there are a couple issues, and I believe many people are just waiting for the first Enron type scandal to scrap the idea.
IFRS is less overall volume of shit to learn, and not fundamentally different than GAAP once was. GAAP has just evolved into a rules based system, more structured for reporting in complex economies.
I have heard this many times from most of my professors, IFRS has all kind of crazy loopholes and stuff that can be taken advantage of. They also tell us that much of what we are learining will be obsolete a few years after the conversion to IFRS.[/quote]
Thing about IFRS is it is judgment based, and how do you audit someone’s judgment? Some things are pretty straight forward and not a huge audit risk, but others are crazy complicated. And as long as compensation is tied to performance you are going to have a high risk of fraud in reporting.
I wouldn’t say what you are learning is going to become obsolete, only because that word is harsh, very harsh. GAAP used to be much like IFRS, but evolved into the rules based system. So basically we are taking a few decades worth of development step backwards in financial reporting. Why? Probably because China chose IFRS and not GAAP. I don’t know, but it is stupid.
I don’t disagree with anything countingbeans has said, except I think big firms are better. Sorry, beansie, but I get more exposure than you. 
Having a good base of knowledge in accounting is great for ANY industry you decide to enter. Accounting is the language of all businesses. Without a good base knowledge you’ll be lost in the sauce on many issues in all industries.
[quote]LankyMofo wrote:
except I think big firms are better. Sorry, beansie, but I get more exposure than you.
[/quote]
You certainly deal with more complex equity sections and debt instruments for sure. But you have a tax department, I am the audit and tax department.
Big firm isn’t bad at all. I’m just biased lol. Each has ups and down sides.
[quote]countingbeans wrote:
LankyMofo wrote:
except I think big firms are better. Sorry, beansie, but I get more exposure than you.
You certainly deal with more complex equity sections and debt instruments for sure. But you have a tax department, I am the audit and tax department.
Big firm isn’t bad at all. I’m just biased lol. Each has ups and down sides.[/quote]
I think you would be in a better position to run a small business and all the accounting that is involved. I think I would be in a better position to run the financial reporting of a larger firm, but yeah, I wouldn’t be too much help in preparing the tax provision.
[quote]LankyMofo wrote:
I think you would be in a better position to run a small business and all the accounting that is involved. I think I would be in a better position to run the financial reporting of a larger firm [/quote]
Sounds about right. I would certainly have some catch-up to do on complex equity, debt, and certainly any VSOP revenues and the like.
I would fucking pwn a small business though, pretty much as soon as you issue a bond, I’m scrambling.
[quote]countingbeans wrote:
PeacePipeline wrote:
It’s very boring, but also very lucrative if you play it right. Get some hobbies (or a family), cash some checks, and don’t worry about it.
Small firm is not boring. Nor is it boring to people who should be accountants… Unless you stay a staff your entire life, or in a career you hate, it is anything but boring.
If you really want to make some skin, study economics instead, take the CPA test, and then go into finance/banking.
This might be the worst advice I could imagine right now. First off the financial sector blows for getting a job these days. I assume it will turn around, but who knows.
Second, I’m not sure of your state, but I know that you can’t just sit for the CPA in most. You need certain education requirements in order to sit. Which economics does NOT give you.
Aside, 99% of people will fail the exam without some type of formal education or experience in the field. GAAP and Audit are not something most people can just pick up on a whim from reading a book for two weeks.[/quote]
A formal education is required, as most state boards of accountancy require a certain number of semester hours in core and specific classes. In NV in order to sit for the exam, you need 150 semester hours and 1,000 hours of real world experience in the attest functions (audits, reviews, comps, etc…)which has to be signed off by your current/former employer.
[quote]countingbeans wrote:
james28 wrote:
Quick question, for those who know people in the profession or are accoutants, do employers hire people with online accounting degrees? I know a few people who are doing this but, believe it might not work out. I have known people hired with online psych/english degrees but those are liberal arts degrees.
Ah, we wouldn’t without a referral from an existing employee or unless you are at the career fair/involved in career services.
We recruit at schools. If you interview well enough, and physically can be part of the career day/fair/career services, it shouldn’t matter if you took classes online or not. We honestly wouldn’t know, if you didn’t tell us.
[/quote]
Since you’re on the recruiting end (or have been), what advice would you give to graduates who didn’t get a position during fall recruiting? Should they simply apply to the firm in the summer, or wait again until the next recruiting events?
[quote]Surly Duff wrote:
countingbeans wrote:
james28 wrote:
Quick question, for those who know people in the profession or are accoutants, do employers hire people with online accounting degrees? I know a few people who are doing this but, believe it might not work out. I have known people hired with online psych/english degrees but those are liberal arts degrees.
Ah, we wouldn’t without a referral from an existing employee or unless you are at the career fair/involved in career services.
We recruit at schools. If you interview well enough, and physically can be part of the career day/fair/career services, it shouldn’t matter if you took classes online or not. We honestly wouldn’t know, if you didn’t tell us.
Since you’re on the recruiting end (or have been), what advice would you give to graduates who didn’t get a position during fall recruiting? Should they simply apply to the firm in the summer, or wait again until the next recruiting events?
[/quote]
If you interviewed, and didn’t get called back it is better than not being called at all.
The job market sucks right now. We are bringing in interns, because you don’t have to fire them at 4/15. You could accept an intern position and hope you impress enough to be kept. I’m sorry you got hosed, but ya did by the economic downturn.
If I were you, I would get a job doing anything accounting related, while going and getting your 150 credits. Start studying for the exam, and keep sending in resumes to the companies you want to work for.
[quote]yonkeyschnitzel wrote:
countingbeans wrote:
PeacePipeline wrote:
It’s very boring, but also very lucrative if you play it right. Get some hobbies (or a family), cash some checks, and don’t worry about it.
Small firm is not boring. Nor is it boring to people who should be accountants… Unless you stay a staff your entire life, or in a career you hate, it is anything but boring.
If you really want to make some skin, study economics instead, take the CPA test, and then go into finance/banking.
This might be the worst advice I could imagine right now. First off the financial sector blows for getting a job these days. I assume it will turn around, but who knows.
Second, I’m not sure of your state, but I know that you can’t just sit for the CPA in most. You need certain education requirements in order to sit. Which economics does NOT give you.
Aside, 99% of people will fail the exam without some type of formal education or experience in the field. GAAP and Audit are not something most people can just pick up on a whim from reading a book for two weeks.
A formal education is required, as most state boards of accountancy require a certain number of semester hours in core and specific classes. In NV in order to sit for the exam, you need 150 semester hours and 1,000 hours of real world experience in the attest functions (audits, reviews, comps, etc…)which has to be signed off by your current/former employer.[/quote]
Yeah, my state is similar. That is why that advice is dumb.