[kma0505]

Hey all,

I’m hoping that everyone goes through this question in their mind during the first year of being in public accounting, and I’m not the odd man out.

Background is…graduated with my BS last year, immediately started working at a local CPA firm (7 employees, I’m the ONLY staff accountant). I had no previous accounting experience. Obviously, this is now my first busy season with the firm, and I literally feel like I cannot do ANYTHING right. Every return I do, I get a LONG list of review notes (directly from the partners, mind you, because the chain of command is the partners and then me…there’s no one else doing returns). I’m at the point now where I feel like if I can’t even do a relatively simple return correct, maybe this really just isn’t for me. I mean, does anyone go into public accounting and just immediately hit everything out of the park? I just feel like my “well you just have little experience” time frame is running out. There’s tension and frustration in the office, which is difficult to deal with being such a small firm.

Not to mention working 60+ hours a week and studying every single free moment I have is starting to take a toll on me. I’m just really contemplating if this is even worth it anymore. Any thoughts/similar situations?

REG: 78 (OCT 2013)
FAR: 79 (FEB 2014)
AUD: TBD
BEC: TBD

[Newbe654]

I'd say hang in there till they kick you out buddy. Just try to show improvement what more can they ask for.. I just started an audit internship in public kinda feeling the same way…

[Newbe654]

I'd say hang in there till they kick you out buddy. Just try to show improvement what more can they ask for.. I just started an audit internship in public kinda feeling the same way…

[impska]

No. No one goes into public accounting and hits it right out of the park.

Some things to consider:

1. Tax season has barely begun. Everyone has a lot of time to review returns and write notes. They will pick everything apart in the hopes that you learn something and when it gets busy for real, your returns won't be sloppy.

2. You will eventually do a return for which you get no review notes.

3. You will never stop getting review notes. Nor should you. No one is perfect and no one churns out perfect returns every time. The reviewer's job is to find the mistakes that you are inevitably making when you're working 12 hours a day every day.

4. Tax has a steep learning curve. You will know 5 million percent more in April than you do now. But the returns that you're trusted with will only get more complicated – hence #3.

REG - 94
BEC - 92
FAR - 92
AUD - 99

[impska]

No. No one goes into public accounting and hits it right out of the park.

Some things to consider:

1. Tax season has barely begun. Everyone has a lot of time to review returns and write notes. They will pick everything apart in the hopes that you learn something and when it gets busy for real, your returns won't be sloppy.

2. You will eventually do a return for which you get no review notes.

3. You will never stop getting review notes. Nor should you. No one is perfect and no one churns out perfect returns every time. The reviewer's job is to find the mistakes that you are inevitably making when you're working 12 hours a day every day.

4. Tax has a steep learning curve. You will know 5 million percent more in April than you do now. But the returns that you're trusted with will only get more complicated – hence #3.

REG - 94
BEC - 92
FAR - 92
AUD - 99

[Anonymous]

KMA0505 – I didn't go into tax, but yeah, I would say that I was generally very successful from the get-go at the firm…At the big 4 firm I work for, I was rated a “2” my first year and a “1” my second year. I don't say that to be an ass, I say it to tell you my story. I once heard a speech (that I will post below) and it helped put things in perspective for me. I don't just WANT to achieve career success, I NEED to achieve career success. As a result, I made and continue to make serious investments in my career during my free time. I started in internal audit, but moved to our financial accounting and reporting services practice because I'm much more interested in assisting clients with technical accounting issues, IPO readiness, M&A services, revenue recognition for multiple element software arrangements, and IFRS convergence efforts, among other things. From when I started and even to now, I spend a great deal of my spare time reading articles, white papers, codification, internal publications, external publications, industry-related guidance, convergence efforts and progress, e-learnings, etc. Recently, I've started to work as a subject matter expert in hedging/derivatives and I've been pouring a lot of hours into becoming not just familiar, but great in the area. I can't tell you how much time I spend outside of work, but I can tell you that it has been worth it so far. I still see my friends, I still date, I still talk to my parents…I haven't effectively given up any semblance of a social life, but I do spend a lot of time investing in my career by building my knowledge and experience. My advice to you is to do everything you can outside of work to improve yourself and to become a knowledge-leader. Figure out what's tripping you up and focus on it…don't just work on it when you're on the clock (under pressure), work on it when you have time to calmly hone in on it. Anyway, enough of my BS, listen to the video below…you may or may not have already seen it, but it's an amazing video (gives me chills to this day). Best of luck to you!

https://www.youtube.com/watch?v=WTFnmsCnr6g

[Anonymous]

KMA0505 – I didn't go into tax, but yeah, I would say that I was generally very successful from the get-go at the firm…At the big 4 firm I work for, I was rated a “2” my first year and a “1” my second year. I don't say that to be an ass, I say it to tell you my story. I once heard a speech (that I will post below) and it helped put things in perspective for me. I don't just WANT to achieve career success, I NEED to achieve career success. As a result, I made and continue to make serious investments in my career during my free time. I started in internal audit, but moved to our financial accounting and reporting services practice because I'm much more interested in assisting clients with technical accounting issues, IPO readiness, M&A services, revenue recognition for multiple element software arrangements, and IFRS convergence efforts, among other things. From when I started and even to now, I spend a great deal of my spare time reading articles, white papers, codification, internal publications, external publications, industry-related guidance, convergence efforts and progress, e-learnings, etc. Recently, I've started to work as a subject matter expert in hedging/derivatives and I've been pouring a lot of hours into becoming not just familiar, but great in the area. I can't tell you how much time I spend outside of work, but I can tell you that it has been worth it so far. I still see my friends, I still date, I still talk to my parents…I haven't effectively given up any semblance of a social life, but I do spend a lot of time investing in my career by building my knowledge and experience. My advice to you is to do everything you can outside of work to improve yourself and to become a knowledge-leader. Figure out what's tripping you up and focus on it…don't just work on it when you're on the clock (under pressure), work on it when you have time to calmly hone in on it. Anyway, enough of my BS, listen to the video below…you may or may not have already seen it, but it's an amazing video (gives me chills to this day). Best of luck to you!

https://www.youtube.com/watch?v=WTFnmsCnr6g

[I should be studying]

No one goes in hitting it out of the park. It stinks that there's no one less intimidating you could talk to if you have questions, but if you have questions just ask the partners. It'll show that you have initiative and that you want to learn.

The fact that you get such extensive review notes is a good thing – you can learn from your mistakes. My firm generally waits until my annual review to hammer me on everything I've done consistently wrong

REG - 80 (2/28/13)
AUD - 68 (5/24/13), 84 (7/11/13)
BEC - 83 (8/29/13)
FAR - 70 (12/04/13) 80 (2/10/14)

[I should be studying]

No one goes in hitting it out of the park. It stinks that there's no one less intimidating you could talk to if you have questions, but if you have questions just ask the partners. It'll show that you have initiative and that you want to learn.

The fact that you get such extensive review notes is a good thing – you can learn from your mistakes. My firm generally waits until my annual review to hammer me on everything I've done consistently wrong

REG - 80 (2/28/13)
AUD - 68 (5/24/13), 84 (7/11/13)
BEC - 83 (8/29/13)
FAR - 70 (12/04/13) 80 (2/10/14)

[kma0505]

Thanks, guys. I think I'm just going to have to stick it out and do everything I can to improve. Hopefully if they see I'm making some kind of initiative things will get better…I'm not sure I can handle this tension much longer.

@BobRossFan71 Thanks for that video…I haven't seen it before and it really is a great motivator. I might have to refer back to that video every time I'm feeling a lack of motivation…

REG: 78 (OCT 2013)
FAR: 79 (FEB 2014)
AUD: TBD
BEC: TBD

[kma0505]

Thanks, guys. I think I'm just going to have to stick it out and do everything I can to improve. Hopefully if they see I'm making some kind of initiative things will get better…I'm not sure I can handle this tension much longer.

@BobRossFan71 Thanks for that video…I haven't seen it before and it really is a great motivator. I might have to refer back to that video every time I'm feeling a lack of motivation…

REG: 78 (OCT 2013)
FAR: 79 (FEB 2014)
AUD: TBD
BEC: TBD

[Study Monk]

My suggestion is spend ALOT of time reviewing their review notes and make sure you document every error you make and every note that they make. Refer to it before you submit every return. Do everything in your power not to make computational errors and not to repeat the same mistakes. I didn't work in tax but think as long as you are not making the same mistakes you will be a keeper. I wish I followed my advice when I was in public accounting way back when.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Study Monk]

My suggestion is spend ALOT of time reviewing their review notes and make sure you document every error you make and every note that they make. Refer to it before you submit every return. Do everything in your power not to make computational errors and not to repeat the same mistakes. I didn't work in tax but think as long as you are not making the same mistakes you will be a keeper. I wish I followed my advice when I was in public accounting way back when.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Gatorbates]

No one knows crap going into their first year of public accounting of tax. That why I cherished my 4 years in public accounting. School teaches you the foundation. Real world teaches you reality. It takes a while. And the seniors, supervisors and managers know that and should help you out. You are a newbie for a reason. It happens at every public firm. They know you have the accounting skills, and know it takes a while for you to grasp it. That's why it takes a year or two to get promoted to the next level. When in doubt, look at the prior year work papers and follow those. PY work papers teach you so much. If you can take the time to look over those on your own, without anyone knowing, and you understand why they did what they did, you'll look better to everyone. I'm not saying don't ask questions … But if the questions can be answered by looking at PY work papers, and you ask the question without researching it first, it may lake you look a little weak. When in doubt, SALY (Same as last year).

Licensed Florida CPA:
B: 71, 73, 79
A: 83
R: 78 (expired), 77
F: 74, 74, 80

It's finally freaking over.

[Gatorbates]

No one knows crap going into their first year of public accounting of tax. That why I cherished my 4 years in public accounting. School teaches you the foundation. Real world teaches you reality. It takes a while. And the seniors, supervisors and managers know that and should help you out. You are a newbie for a reason. It happens at every public firm. They know you have the accounting skills, and know it takes a while for you to grasp it. That's why it takes a year or two to get promoted to the next level. When in doubt, look at the prior year work papers and follow those. PY work papers teach you so much. If you can take the time to look over those on your own, without anyone knowing, and you understand why they did what they did, you'll look better to everyone. I'm not saying don't ask questions … But if the questions can be answered by looking at PY work papers, and you ask the question without researching it first, it may lake you look a little weak. When in doubt, SALY (Same as last year).

Licensed Florida CPA:
B: 71, 73, 79
A: 83
R: 78 (expired), 77
F: 74, 74, 80

It's finally freaking over.

[Wolfchicken]

I have been feeling the same way as you. I did two tax seasons as an intern. After my second tax season, I was started to feel a little better, but I just got hired at a different firm this fall as an auditor and I feel way out my element. I have no idea what I am doing, and usually come home crying everynight. I can't sleep because I am so stressed about it. I hope it gets better like they say….

BEC - PASS
FAR - PASS
Audit - PASS
REG - PASS

[Author]

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