HVC--I demand you explain accounting

[dps]

--I can't speak to government jobs at all, however, that is absurdly low pay by private industry standards, even for a brand new grad.

Typically, public sector jobs offer lower pay than comparable private sector jobs, but better benefits.

I think I posted this before, but my old gf SocialWorkerGirl, after getting her degree, took a job as a cashier in a discount store while seeking a job with the state Department of Human Services.  When she got hired by them, she actually took a pay cut from her cashier job.  Keep in mind that her job in CPS required not only a degree in social work, but that she be licensed and bonded.

--You might want to move to a big city. Mom and pop accounting doesn't pay like big companies do, and big companies are in places like Charlotte and Atlanta, not South Carolina.

In almost any field, the best-paying jobs are in the big cities.  Of course, the cost of living tends to be higher there as well.

[viper37]

Per Malthus' suggestion, I require you to explain what getting your accounting degree involves, particularly the math requirements and whether someone whose greatest mathematical accomplishment is comprehending that .9 repeating equals 1 is likely to succeed.  Also, please describe to what degree, if any, a legal background may assist in understanding accounting principles and/or working as an accountant, both in terms of acquiring and performing on a job.

I ask out of curiosity about the field.  I have no concrete plans.

Accounting is part of a business admin course.  Most universities will require Differential and Integral calculus, but some won't.
Anyway, they have no use in accounting.

A legal background may assist in that, you are accustomed to reading walls of texts and memorizing them, wich is still the way accounting is taught in some schools, where like fiscality, you need to justifiy every decision made with the proper articles of law/accounting principle.

But mainly, what is required are analytical capabilities (and a good understanding of Excel ).  You need to know wich principle to use under what circumstances.  What is the effect of choosing a method over another.  Will using LIFO result in a smaller profit than using FIFO, what's the effect on your quick ratio when your receivables increase, etc, etc,.

It's not that hard to remember after 3 years doing the same stuff.

[viper37]

Though it is true I have no idea what an actuary actually does, but I assume it is somehow related to using statistics and mathematical modeling to arrive at business-happy conclusions, as in actuarial tables.  But could be way off.

It's mainly quantifying risks. 

[Malthus]

Heh, whenever I see one of Ide's threads, it always reminds me of this: http://www.youtube.com/watch?v=TwI2DTiVSJ0

[DGuller]

Though it is true I have no idea what an actuary actually does, but I assume it is somehow related to using statistics and mathematical modeling to arrive at business-happy conclusions, as in actuarial tables.  But could be way off.

It's mainly quantifying risks.

There are many things that actuaries do, depending on their responsibilities.  Some of them do involve accounting, because you have to prepare financial statements for regulators.  However, most of it has to do with pricing one kind of insurance risk or another.  My job involves calculating the appropriate premiums for insurance, as well as determining to relative risk level of policyholders with different characteristics, and involves no accounting at all.  In fact, I personally detest accounting, and find it mind-numbing.

[Ideologue]

Heh, whenever I see one of Ide's threads, it always reminds me of this: http://www.youtube.com/watch?v=TwI2DTiVSJ0

I was going to object, till they pulled an Inception and revealed that Joe Dog's copious actual interviews were all a dream, and that jobs are likeliest to come from personal contacts, particularly family networks, rather than any real effort put in by the job seeker.  This educational short is too educational.

[Malthus]

Heh, whenever I see one of Ide's threads, it always reminds me of this: http://www.youtube.com/watch?v=TwI2DTiVSJ0

I was going to object, till they pulled an Inception and revealed that Joe Dog's copious actual interviews were all a dream, and that jobs are likeliest to come from personal contacts, particularly family networks, rather than any real effort put in by the job seeker.  This educational short is too educational.

It always freaks me out that this was produced as a PSA. What, exactly, where they thinking one wonders? 

[HVC]

I get a thread especially for me, and I miss it

I am neither a tax accountant nor an auditor. Although I guess I could be, once I get my designation, but in Canada most people look for auditors who are Chartered Accountants and I'm going for my Certified General Accountant designation. Not sure about America, but in Canada there are three designations you can achieve. CA>CGA>CMA (Certified Managerial Accountant). Don't want to do auditing so I'm fine with my second tier designation . Besides, they keep trying to merge CA's and CGA's so who knows, one day I may be a CA. As mentioned previously there are some legal requirements to becoming a designated accountant so you should probably look into that.

Myself, I'm a cost accountant, not really by planning, but we'll get to that later. Cost accounting basically entails making sure manufacturing costs are captured and accounted for at its basic level. At my current job that means a lot of analysis. A lot. Along with that analysis means correcting transactions (uhm, basically booking journal entries for costs not recorded through error of some kind). That's my day to day function besides the analysis. I also provide assistance to colleagues because even though I've only been here like five months I somehow know the system better then sales and marketing. Go figure. I also do month end duties like clearing up variances to their respective accounts and management reports (again, analysis ). Unless you want my whole CV that's the basics of what I do .

Depending on what type of accounting you do your duties vary. I find AP accountants have the most boring jobs. You basically just record invoices all day. So, data entry. The higher up you go the more varied your task. Like a controller, who basically overlooks the whole accounting duties for their division or company. What I've found from myself and school friends is that your first job basically dictates what you'll do for your career until you get high enough and can back track into another area. My first job was plant accountant (basically rookie cost accountant in manufacturing) so basically I'm in a manufacturing field, most likely costing, until I get higher up (probably manager or if I wait long enough controller in a manufacturing environment) and then I can go somewhere else if I want. So if you do go accounting pick your first job wisely. It's not so much that skills aren't transferable, booking journal entries is booking journal entries, it's just that companies want people who are familiar with certain environments.

Also, you will be working long hours, not matter what type of accountant you are. Month end has to get done, whether you work for a giant public company or tiny private one. You'll be salary so chances are you won't get over time.

Anyway, that's longer then I expected, but that's basically what I do lol

[HVC]

oh ya, and at least here to get your designation (depending on which one you get it's a little different) you need to work and go to school at teh same time and reach a certain amount of field related hours before you get your letters.

[dps]

I am neither a tax accountant nor an auditor. Although I guess I could be, once I get my designation, but in Canada most people look for auditors who are Chartered Accountants and I’m going for my Certified General Accountant designation.

Another fun ex-gf story, this one involving CollegeGirlFriend.  One time, she told me that she had applied for a position as Chief Auditor at a fairly large manufactuing concern, but hadn't gotten the job.  She said, "I'm not even sure what an auditor does.  Do you think that might be why I didn't get it?" 

I was kind of stunned by that, but my reply was, "Well, that might be part of it, but I'd think that for a position with that title, they'd want someone with an accounting degree and a good bit of experience."  And then she said, "Well, that's not what they said in the job listing" and showed me the help wanted ad they had put out.  The job requirements they listed?  Have a high school diploma and no felony convictions.  I was like, WTF?  Heck, I've seen help wanted ads for janitors that had higher requirements than that.

[HVC]

Just noticed i didn't actually answer the question lol (my defense is a just woke up ).

To get a designation here depends on what type you get (CA, CGA, CMA), not too familiar with the others so I'll focus on CGA. You need a university degree for all three of them. Better to get an accounting related one because then you get exemptions, if not you'll be taking a lot of accounting courses through the CGA program. Besides your university degree you'll have to take specific courses and or tests for your designation. The more exemptions you have the less of these you have to do.  Math is almost not required, really. Can you add and subtract? You're hired. If you get more into the analysis field then you'll need more, but that's work related, for the designation itself if you can do (1+1)/2=x you're golden. In your work life itself you will need excel. It makes things so much easier. Vlookups and pivot tables are the minimum level you need. Having an understanding of the function (or at least the easy function guide ) is a requirement for you career, but not your designation.

Like I mentioned above you'll also need work related experience which means work plus school at the same time, which is a drag. And even once you get your designation you'll have to keep taking classes and or seminars to meet hour requirements to keep your designation.

Your law degree wouldn't really help per se, except meeting the university degree requirement, but if you go into a compliance/audit field it would help because of constantly changing rules and your knowledge of reading complicated legalize and knowing what the fuck it's saying. Would it help you get a job? Not really, no. At least not when you start. Maybe later on in your career. But even at the start you might have to explain why you jumped career paths without getting snarky

So, ya, this is for canada so may not apply to you

[Grey Fox]

You don't smile that much in RL, HVC.

[HVC]

You don't smile that much in RL, HVC.

I really do...

[Admiral Yi]

Hillary's life is filled with hilarity. 

[Eddie Teach]

You don't smile that much in RL, HVC.

I really do...

Maybe I should go into accounting.