Firebird
Senior Associate
Joined: Dec 29, 2010 12:55:06 GMT -5
Posts: 12,448
|
Post by Firebird on May 25, 2011 11:56:02 GMT -5
Why to avoid a review course? They are expensive. But the cost is not really significant when compared to the preparation time required to take the CFA exam several times. Then, too, passing your level ones on the first attempt demonstrates that you are intelligent, focused, and disciplined. All desirable attributes to be pointing out to your boss when it comes time for raises and promotions.
Oh, I completely agree. If this review course looks like it will help me, I'm all over it. I would much rather fork over an additional $1k and not have to do this more than once.
I'll post an update after the informational session, which is on June 6th. In the meantime, keep the advice coming! ;D
I haven't yet decided if I want to tell my boss I'm studying for this. The CFA designation likely won't do me much good in my current position here.
|
|
whoisjohngalt
Junior Associate
Joined: Dec 18, 2010 14:12:07 GMT -5
Posts: 9,140
|
Post by whoisjohngalt on May 25, 2011 13:04:39 GMT -5
I tried not to tell my boss when I was studying for CPA - I would be too embarrassed if I didn't pass.
Lena
|
|
Firebird
Senior Associate
Joined: Dec 29, 2010 12:55:06 GMT -5
Posts: 12,448
|
Post by Firebird on May 25, 2011 13:17:34 GMT -5
That too.
|
|
wvugurl26
Distinguished Associate
Joined: Dec 19, 2010 15:25:30 GMT -5
Posts: 21,769
|
Post by wvugurl26 on May 25, 2011 16:59:30 GMT -5
Well the federal government doesn't require it for my job. Since I had to take two other college classes I will do the stupid ethics thing and have the joy of three different sets of cpe requirements (WV, MD, and work). And while yes, if you want to be in public practice providing services you need to be licensed or registered in the appropriate state, everyone takes the same test. There's a guy in my office who is licensed in VA and has a tax practice on the side. I'm positive he has MD clients.
|
|
souldoubt
Senior Member
Joined: Jan 4, 2011 11:57:14 GMT -5
Posts: 2,752
|
Post by souldoubt on May 25, 2011 17:25:57 GMT -5
You take the same test but licensing is done by the state boards so like it or not if you want to advertise or hold yourself out as a CPA in a particular state you need to get licensed there.
As far as whether or not to tell your boss I would tell them results on a test by test basis only if it was something work was paying for or if it was for my professional development at that job. Otherwise I'd wait until I had passed all sections before saying anything.
|
|
wvugurl26
Distinguished Associate
Joined: Dec 19, 2010 15:25:30 GMT -5
Posts: 21,769
|
Post by wvugurl26 on May 25, 2011 17:34:28 GMT -5
I'm sure when I was reading MD's rules you could be enrolled or something without needing the MD license for certain types of services. I will get the extra license and hassle that goes with it bc the boss wants me to. Even in public for a big firm it doesn't matter till you are a partner and signing off on audits and stuff. Its almost done but its been a whole lot of extra hassle and time for something I don't truly need at this time.
|
|
ihearyou2
Well-Known Member
I smell better then I look
Joined: Dec 20, 2010 13:05:34 GMT -5
Posts: 1,857
|
Post by ihearyou2 on May 25, 2011 18:18:43 GMT -5
I don't even work in public accounting and every position that I have had they wanted me as an active CPA when they needed an audit or SEC work, that is the reality. Really not a big deal, oh yeah question abotu the CFA. If you're asking here probably not for you, that is a career choice not taken lightly.
|
|
wvugurl26
Distinguished Associate
Joined: Dec 19, 2010 15:25:30 GMT -5
Posts: 21,769
|
Post by wvugurl26 on May 25, 2011 18:24:40 GMT -5
Guess the federal government has lower standards ![:P](//storage.proboards.com/forum/images/smiley/tongue.png) I would think when they do the field work and audit the contracting entities having the license might make a good impression but apparently headquarters doesn't dirty their hands with that or deal with the travel hassles. Only field offices do that. Why they bothered asking me about travel in the interview I don't know bc I rarely get to do it! And chances of me being licensed in the state where the contracting entity is headquartered are slim to none. Look I went through the bs to get the license of course I'm going to keep it. Doesn't mean I can't think keeping up with continuing education requirements for two states is a pain in the azz bc it will be. WV does a 3 year period, MD does a two year period which will no doubt be different than my two year period for work. And I will get the MD license bc my boss wants me to and its on my goals sheet for work this year so I can check it off and say all accomplished.
|
|
ihearyou2
Well-Known Member
I smell better then I look
Joined: Dec 20, 2010 13:05:34 GMT -5
Posts: 1,857
|
Post by ihearyou2 on May 25, 2011 18:26:24 GMT -5
Oh and IF you want to make money get out of government jobs and either become a prison guard or go back to CPA or private industry. Accountants get paid horribly at most governmental levels versus just about everything else in government.
|
|
souldoubt
Senior Member
Joined: Jan 4, 2011 11:57:14 GMT -5
Posts: 2,752
|
Post by souldoubt on May 25, 2011 18:29:19 GMT -5
I kind of agree with ihearyou2. This isn't the type of certification you just fall into or decide you want to take out of the blue. Not to be mean but if you don't know what the acronym stands for when you are about to register then I'd question how much you've looked into the certification. I think I may have posted this in the other thread where you mentioned the CFA but in case I didn't at the very least read this: www.investopedia.com/articles/professionaleducation/07/CFA-charter.aspThe article may be a few years old but I'm sure some of the statistics as far as pass rates, study time, etc are still pretty relevant.
|
|
wvugurl26
Distinguished Associate
Joined: Dec 19, 2010 15:25:30 GMT -5
Posts: 21,769
|
Post by wvugurl26 on May 25, 2011 18:35:19 GMT -5
Well public on the east coast is not the place to be right now. I tried to stay in private and no one was hiring at my level. Big 4 hires out of their internship programs pretty much exclusively and regional firms were laying off right and left. I spent almost a year looking from September 2009 till I landed the government job last May. Possibly different now with cpa license in hand, not sure. Tina said she'd never seen the level of layoffs as they've done at her firm over the past few years. Bad place to be at the moment.
|
|
Firebird
Senior Associate
Joined: Dec 29, 2010 12:55:06 GMT -5
Posts: 12,448
|
Post by Firebird on May 25, 2011 18:35:48 GMT -5
Oh, I fully admit I didn't look into this as carefully as I should have before diving in (although I did know what the acronym stood for by the time I signed up ![;)](//storage.proboards.com/forum/images/smiley/wink.png) ). I would have done it differently if I had put more thought into it - however, what's done is done and all I can do is make the most of this opportunity now that I've shelled out a good bit of money for it. I have six months - I think I can do it if I apply myself. Thanks for the link.
|
|
ihearyou2
Well-Known Member
I smell better then I look
Joined: Dec 20, 2010 13:05:34 GMT -5
Posts: 1,857
|
Post by ihearyou2 on May 25, 2011 18:45:43 GMT -5
My BIL is a freshly minted CPA out of Deloitte, worked there three years and is looking at moving into industry positions, Senior Accountant/Manager and is finding opportunities in that 60-80K level.
Firebird I like the optimism but it should be based in some reality.
|
|
Firebird
Senior Associate
Joined: Dec 29, 2010 12:55:06 GMT -5
Posts: 12,448
|
Post by Firebird on May 25, 2011 18:50:48 GMT -5
Optimism, desperation.
Potato, potahtoe.
|
|
wvugurl26
Distinguished Associate
Joined: Dec 19, 2010 15:25:30 GMT -5
Posts: 21,769
|
Post by wvugurl26 on May 25, 2011 18:54:35 GMT -5
I have 10 months in public and next month will have a year with the feds. I doubt I'd qualify for senior accountant/manager slots right now. Senior accountant maybe depending on size of department and what I was expected to do. I suppose I fall under newly minted since I haven't even seen my license, haven't been home since it showed up at dad's house earlier this month. There are still some areas I want to explore on the fraud/forensic side and see if I can't shape this into something better. Next year's raise will bump me in the $60-80k category.
|
|
ihearyou2
Well-Known Member
I smell better then I look
Joined: Dec 20, 2010 13:05:34 GMT -5
Posts: 1,857
|
Post by ihearyou2 on May 25, 2011 18:59:30 GMT -5
I have 10 months in public and next month will have a year with the feds. I doubt I'd qualify for senior accountant/manager slots right now. Senior accountant maybe depending on size of department and what I was expected to do. I suppose I fall under newly minted since I haven't even seen my license, haven't been home since it showed up at dad's house earlier this month. There are still some areas I want to explore on the fraud/forensic side and see if I can't shape this into something better. Next year's raise will bump me in the $60-80k category. Yeah my advice for you is get back into a large local and put another two years of auditing under your belt before you go into industry. I have friends who are partners in big locals and Big 4 and I think 2012 will be the year hiring comes back and audit fees will increase. The past three years have been manuevering for market position, now its about making money.
|
|
wvugurl26
Distinguished Associate
Joined: Dec 19, 2010 15:25:30 GMT -5
Posts: 21,769
|
Post by wvugurl26 on May 25, 2011 19:08:08 GMT -5
This area has been hammered as far as the large regionals. I was signed up with so many placement firms and they had nothing which was highly unusual. If they start hiring in 2012 it could be an option. Right now I still think they are hurting. My timing's just horrible. Should have done the dual major and jumped up here in 2007.
Apparently I need to start sucking up the field office managers who come to headquarters more. I've been waiting a year to get into the field. I really gotta quit looking at that pay table. At least for the grades my friends are. I cuss everytime I remind myself that one of the newly promoted ones is making double what I make. Course they are a good twelve years old than me but still.....
|
|