[Zach Zach]

I just graduated with my B.S. in Accounting this May and was hired by a ~50-person CPA firm near my home town a few months after graduation. Now, my background in accounting is obviously *very* short-term. I had two internships in corporate accounting while in undergrad, one of which evolved into a part time job, and I felt great about the fact that I decided not to go into a Big 4 internship program ( there would have been way too much on my plate if I had done Big 4). But, I just recently decided to take the plunge into public accounting and I’m feeling incredibly overwhelmed by everything I’m supposed to be able to do / remember at my new job.

I’m at a relatively small firm but it’s one of the biggest in the state I live in; thus, we offer a lot of different accounting services. Over the one month time I’ve been employed there, I’ve had to learn how to prepare 1040s, 1120Ses and 1065s (mind you, I had never done partnership, trust or S-Corp tax returns before in my life before now); I’ve learned how to do payroll for companies that outsource to my firm; I’ve learned how to compile FSes and do reviews; I’ve done work paper prep for tax returns and I’ve had to learn about a ton of different accounting programs I’ve never dealt with before.

Just getting out of undergrad, I felt prepared to start a career in public accounting. I learned a lot and have studied for both AUD and BEC over the past few months. But actually doing the “real thing” in an actual firm is much different from the conceptual stuff I learned in school.

So, in a nutshell, I’m wondering how other people felt when they started their first job in Public. And, I’m wondering if, after graduation (if you went to college), you went through a period where you felt like you forgot a lot of what you had just learned!

DELAWARE

AUD: 74 (7/2014) 76 (11/2014) PASSED! USED YAEGER AND NINJA
BEC: 73 (9/2014) 76 (2/2014) SO FAR SO GOOD! USED NINJA AND WILEY
FAR: Will take after tax season (can't wait)
REG: Cue overly dramatic impending-doom music (will take in 2014)

[Anonymous]

I would be surprised if you didn't feel overwhelmed at the beginning of your career in public accounting. I started full-time back in January at a regional firm and I still feel overwhelmed some days. Some weeks are more stressful than others, especially when you are running around trying to meet deadlines!

My advice: just focus on doing the best you can and continue to show a strong work ethic and team attitude. That will take you far. No one is expecting you to get everything right the first time around, and they understand that there is a learning curve especially when first starting out. Just think of how much you have learned in such a short amount of time already!! Continue to keep learning because that's what I think is the most important thing when starting off – at least in my experience it is. I may not get everything right, but I do learn from everything that I am doing. Also, cheat sheets are your friend! I like to keep various word documents for tasks that I have trouble remembering how to do (mainly for when I am on audits because I am a tax person at heart!). I also have a spreadsheet that lists various clients and their corresponding tax returns that I can later use as reference if I can stuck on something else (like what can I look at that would be a good model to follow & etc.). I'm definitely with you on the adjustment phase…. still going through it and it's been 11 months! It's all part of the experience 🙂

[Anonymous]

I would be surprised if you didn't feel overwhelmed at the beginning of your career in public accounting. I started full-time back in January at a regional firm and I still feel overwhelmed some days. Some weeks are more stressful than others, especially when you are running around trying to meet deadlines!

My advice: just focus on doing the best you can and continue to show a strong work ethic and team attitude. That will take you far. No one is expecting you to get everything right the first time around, and they understand that there is a learning curve especially when first starting out. Just think of how much you have learned in such a short amount of time already!! Continue to keep learning because that's what I think is the most important thing when starting off – at least in my experience it is. I may not get everything right, but I do learn from everything that I am doing. Also, cheat sheets are your friend! I like to keep various word documents for tasks that I have trouble remembering how to do (mainly for when I am on audits because I am a tax person at heart!). I also have a spreadsheet that lists various clients and their corresponding tax returns that I can later use as reference if I can stuck on something else (like what can I look at that would be a good model to follow & etc.). I'm definitely with you on the adjustment phase…. still going through it and it's been 11 months! It's all part of the experience 🙂

[toasty]

Best tips – keep your head up, be excited to learn and get work, ask for feedback, always have a positive attitude (even at 5pm when getting more work)

I am a senior at Big4 tax and trust me, it is expected that new hires are very green and know nothing (not to say you are dumb, just that you do not have experience). I can say that undergrad did not prepare me at all for public, although it did help taking the CPA. If you want to get a better grasp of things, get your MS in Tax (i am sure they will pay for it). It will introduce you to many relevant topics depending on your service line and the classes you take. Do not expect to be a pro after b/c that only comes from experience, but I found it a very beneficial introduction that allowed me to actually know what is going on rather than be completely blindsided like a deer in headlights.

In terms of actually “getting it” from an understanding perspective, takes about a year or two but it varies depending on the individual, learning environment and the opportunities available. Do not worry if you aren't getting it yet, it isn't expected from you right now. Ask your seniors if they need help at 5pm to finish something. Although you may not want to, it'll make a good impression and the senior will most likely be doing stuff that you can learn from.

Just remember this about the big 4 – the people that learn the most, get the best promos/raises, and become the most valuable are the ones that put in the hours. Learn to work efficiently and you can still have a work/life balance similar to those in corporate or non big 4.

-Toasty

[toasty]

Best tips – keep your head up, be excited to learn and get work, ask for feedback, always have a positive attitude (even at 5pm when getting more work)

I am a senior at Big4 tax and trust me, it is expected that new hires are very green and know nothing (not to say you are dumb, just that you do not have experience). I can say that undergrad did not prepare me at all for public, although it did help taking the CPA. If you want to get a better grasp of things, get your MS in Tax (i am sure they will pay for it). It will introduce you to many relevant topics depending on your service line and the classes you take. Do not expect to be a pro after b/c that only comes from experience, but I found it a very beneficial introduction that allowed me to actually know what is going on rather than be completely blindsided like a deer in headlights.

In terms of actually “getting it” from an understanding perspective, takes about a year or two but it varies depending on the individual, learning environment and the opportunities available. Do not worry if you aren't getting it yet, it isn't expected from you right now. Ask your seniors if they need help at 5pm to finish something. Although you may not want to, it'll make a good impression and the senior will most likely be doing stuff that you can learn from.

Just remember this about the big 4 – the people that learn the most, get the best promos/raises, and become the most valuable are the ones that put in the hours. Learn to work efficiently and you can still have a work/life balance similar to those in corporate or non big 4.

-Toasty

[evesocal]

I am a manager in the tax department at my firm of about 30 people. It's been a long time since I was in college but one thing's for sure: working in public accounting, particularly doing tax returns has almost nothing in common with learning tax in college. College might teach you the rules but the rules are always changing.

But the biggest difference is your source data is not all neat and clean, like it is the textbooks. Your source data comes from people who do not record things correctly, very often. You have to know how to spot what's wrong and know how to fix it.

Use the prior year's tax returns and workpapers as a guide. Follow them but do NOT make the assumption they are 100% correct and do something just because you see it in last year's file. If something seems wrong, ask. It shows you're thinking as opposed to working by rote. Way too often, I've seen new accountants blindly do the same thing as the year before without trying to understand what they are doing.

It just takes time. Don't be discouraged. I agree with the above comments. Put in the hours, ask questions, demonstrate your willingness to learn. You WILL learn. You'll be amazed how much you learn in your first year!

B: 75
R: 80
A: 77
F: 81
Ethics: 84, 92 and done!
Licensed in California

[evesocal]

I am a manager in the tax department at my firm of about 30 people. It's been a long time since I was in college but one thing's for sure: working in public accounting, particularly doing tax returns has almost nothing in common with learning tax in college. College might teach you the rules but the rules are always changing.

But the biggest difference is your source data is not all neat and clean, like it is the textbooks. Your source data comes from people who do not record things correctly, very often. You have to know how to spot what's wrong and know how to fix it.

Use the prior year's tax returns and workpapers as a guide. Follow them but do NOT make the assumption they are 100% correct and do something just because you see it in last year's file. If something seems wrong, ask. It shows you're thinking as opposed to working by rote. Way too often, I've seen new accountants blindly do the same thing as the year before without trying to understand what they are doing.

It just takes time. Don't be discouraged. I agree with the above comments. Put in the hours, ask questions, demonstrate your willingness to learn. You WILL learn. You'll be amazed how much you learn in your first year!

B: 75
R: 80
A: 77
F: 81
Ethics: 84, 92 and done!
Licensed in California

[Anonymous]

Like the others have said, working in public accounting and studying accounting (CPA, college, etc) are ENTIRELY different things! I think this is fairly true with most professions, but is definitely true with accounting. Think of it more like college is teaching you the language that will be taught at your job, so that you can understand what your coworkers and supervisors are telling you when they teach you how to do the work!

The major re-learning happens to some extent when you switch companies, too. Using different software makes a huge difference in the nitty-gritty day-to-day of your work. Like, when I prepared 1040's, after opening a returning client's return, the first thing to do was push “1” + “Enter” to enter hte basic info screen, and then verify/update the prior year tax liabilities and preparer fee. Then screen 3 had dependents and was usually the next place I went…etc. That's the nitty-gritty of the job, but I'm pretty sure that if I got a job this year at a company working with a different software, then that process would be entirely different. So, the basics – W-2's should add up to the “Wages” line on the final 1040, etc – are still the same, but the actual work varies a lot.

So overall, take heart. You're a month in and it sounds like you've dabbled in most of the types of accounting that your firm offers – that means that most of what you'll do in your 2nd month will be a bit easier since you learned some in your 1st month, and then the 3rd month will be a bit easier, etc.

[Anonymous]

Like the others have said, working in public accounting and studying accounting (CPA, college, etc) are ENTIRELY different things! I think this is fairly true with most professions, but is definitely true with accounting. Think of it more like college is teaching you the language that will be taught at your job, so that you can understand what your coworkers and supervisors are telling you when they teach you how to do the work!

The major re-learning happens to some extent when you switch companies, too. Using different software makes a huge difference in the nitty-gritty day-to-day of your work. Like, when I prepared 1040's, after opening a returning client's return, the first thing to do was push “1” + “Enter” to enter hte basic info screen, and then verify/update the prior year tax liabilities and preparer fee. Then screen 3 had dependents and was usually the next place I went…etc. That's the nitty-gritty of the job, but I'm pretty sure that if I got a job this year at a company working with a different software, then that process would be entirely different. So, the basics – W-2's should add up to the “Wages” line on the final 1040, etc – are still the same, but the actual work varies a lot.

So overall, take heart. You're a month in and it sounds like you've dabbled in most of the types of accounting that your firm offers – that means that most of what you'll do in your 2nd month will be a bit easier since you learned some in your 1st month, and then the 3rd month will be a bit easier, etc.

[Zach Zach]

Wow, thanks for the replies and insight, people! It all definitely gives me a bit of reassurance.

allbiz11, sounds like you were brought on full time just in time for the glorious tax season. You sound A LOT like me in that we both keep word document cheat sheets. I can't live without them! My manager at my new makes fun of me for writing them, but I know I'll forget a ton of things if I don't do it. Thanks for the reassurance! Learning is everything right now

toasty, thanks for the post. I've been trying to be as positive as possible – eager to get more experience. Of course I haven't yet experienced tax season and thus haven't had to work *through* 5 pm and beyond, but I'm getting there. You brought up MS in Tax – I'm actually going to school for MS in Accounting, taking the CPA right now and working. All of that probably contributes to how insanely overwhelmed I feel, but it's definitely something that can be handled. I find it amazing that I didn't learn a thing about corporate tax in undergrad. Had to wait until grad school to take a class on it 😮 I'll keep your suggestion to ask seniors if they need help late in the day in mind. Thanks

evesocal, I totally understand your comment on constantly changing rules / regulations. As recently as May of this year, I took Audit class in undergrad and learned about reporting then the Clarity Project was released almost just after I graduated. Imo, not that big of a change but still one that was felt instantly. Also, I've been using prior returns / info from clients to do current returns / compilations and whatnot just like you said. It's nice to have a guideline but it's always preferable to truly understand why things function the way they do instead of just copy-pasting. Thanks for the reply!

Lilla, that's a great way to look @ undergrad. Definitely feels like I just basically learned a foreign language and now I actually have to speak it! I totally understand re. the change in workplace. I feel that way myself even though I just did a corporate accounting internship and I'm now in public… some similarities but a TON of differences (especially the new place's lunch room… insanely well-stocked! lol). Thanks for the post!

DELAWARE

AUD: 74 (7/2014) 76 (11/2014) PASSED! USED YAEGER AND NINJA
BEC: 73 (9/2014) 76 (2/2014) SO FAR SO GOOD! USED NINJA AND WILEY
FAR: Will take after tax season (can't wait)
REG: Cue overly dramatic impending-doom music (will take in 2014)

[Zach Zach]

Wow, thanks for the replies and insight, people! It all definitely gives me a bit of reassurance.

allbiz11, sounds like you were brought on full time just in time for the glorious tax season. You sound A LOT like me in that we both keep word document cheat sheets. I can't live without them! My manager at my new makes fun of me for writing them, but I know I'll forget a ton of things if I don't do it. Thanks for the reassurance! Learning is everything right now

toasty, thanks for the post. I've been trying to be as positive as possible – eager to get more experience. Of course I haven't yet experienced tax season and thus haven't had to work *through* 5 pm and beyond, but I'm getting there. You brought up MS in Tax – I'm actually going to school for MS in Accounting, taking the CPA right now and working. All of that probably contributes to how insanely overwhelmed I feel, but it's definitely something that can be handled. I find it amazing that I didn't learn a thing about corporate tax in undergrad. Had to wait until grad school to take a class on it 😮 I'll keep your suggestion to ask seniors if they need help late in the day in mind. Thanks

evesocal, I totally understand your comment on constantly changing rules / regulations. As recently as May of this year, I took Audit class in undergrad and learned about reporting then the Clarity Project was released almost just after I graduated. Imo, not that big of a change but still one that was felt instantly. Also, I've been using prior returns / info from clients to do current returns / compilations and whatnot just like you said. It's nice to have a guideline but it's always preferable to truly understand why things function the way they do instead of just copy-pasting. Thanks for the reply!

Lilla, that's a great way to look @ undergrad. Definitely feels like I just basically learned a foreign language and now I actually have to speak it! I totally understand re. the change in workplace. I feel that way myself even though I just did a corporate accounting internship and I'm now in public… some similarities but a TON of differences (especially the new place's lunch room… insanely well-stocked! lol). Thanks for the post!

DELAWARE

AUD: 74 (7/2014) 76 (11/2014) PASSED! USED YAEGER AND NINJA
BEC: 73 (9/2014) 76 (2/2014) SO FAR SO GOOD! USED NINJA AND WILEY
FAR: Will take after tax season (can't wait)
REG: Cue overly dramatic impending-doom music (will take in 2014)

[Mayo]

I remember in my first year I actually felt like my accounting knowledge was getting worse!

Really, the first year is all about learning how to do your job in the small minutiae of things:

-Documentation of workpapers

-Navigating your firms audit software

-Talking to/requesting stuff from clients

-Time management

-Organization

-etc.

You do so much learning on just the basics that accounting knowledge itself won't be used until around busy season. Then things only start to click towards the end.

Hang in there, and don't feel bad about feeling lost/overwhelmed.

Mayo, BBA, Macc

[Mayo]

I remember in my first year I actually felt like my accounting knowledge was getting worse!

Really, the first year is all about learning how to do your job in the small minutiae of things:

-Documentation of workpapers

-Navigating your firms audit software

-Talking to/requesting stuff from clients

-Time management

-Organization

-etc.

You do so much learning on just the basics that accounting knowledge itself won't be used until around busy season. Then things only start to click towards the end.

Hang in there, and don't feel bad about feeling lost/overwhelmed.

Mayo, BBA, Macc

[Author]

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