Employee blog
Need help navigating your career? Curious about an aspect of the profession? Join the conversation on our employee blog.
Ok, I’m Set on Accounting–Now What?
Question: “Do you have any advice for students who don’t know what type of accounting to pursue?”
Answer provided by Laura Calton, CPA
lcalton@withum.com
“I can almost remember the point that I decided to pursue a career in accounting. I was good with numbers, so I decided that I would pursue a qualified degree in accounting and become an accountant. Simple, right? Needless to say, I was very wrong. I had no idea that there were so many different directions one could go in once it was time to actually enter the “real world of accounting.” With an accounting degree, you could pursue a career internally with a company performing general accounting functions such as posting journal entries, monitoring accounts, keeping track of depreciation schedules and creating financial statements, to name a few. On the other hand, joining a public accounting firm might be what you’re looking for. Here, you may get involved in auditing a company’s financial statements. This would involve testing client transactions and accounting policies and procedures to ensure management reports fairly represent the financial condition of the business, understanding truly how an organization makes its money.
You could also get involved in taxation. Tax accountants prepare and submit tax returns for individuals or corporations which are submitted to the proper governmental authorities. Additionally, tax accountants often assist their clients with strategic planning such as with mergers and acquisitions. Taxation is a good career path if you like dealing with clients and thinking “outside of the box” in order to help save money for your client.
There are also new, hot growth areas in public accounting like environmental accounting, forensic accounting and international accounting.
When I first started at WS+B, I was immediately exposed to so many options. I got to dip my feet in a variety of different types of accounting until I found where I felt I belonged. I expected to sit behind a computer doing data entry but was thrilled when I was taken out into the field shortly after I began.cat I had no idea that in addition to all of the different types of accounting, there are so many different industries and niches to choose from as well. I was exposed to construction companies, not-for-profit companies, government agencies, insurance companies and more! There are over 46,000 public accounting firms in the US; from local practices to large international CPA firms. Firms like ours have many opportunities. We are big enough where we have some really neat clients, but small enough where you really get a chance to experience different opportunities.
I know it seems overwhelming at first. I was surprised when I was given the opportunity to choose what I liked. I’m confident that you will find where you belong in the accounting industry. I know I did. Good luck!”
Economic Downturn Affecting Accounting Students
Question: “Do you have any advice for an accounting student in the economic downturn?
Answer provided by Joan Kampo, SPHR, Director of Human Resources
jkampo@withum.com
"Thank you for your inquiry. It is a great question, despite all of the negative headlines we hear each day.
The current economic climate is the most severe downturn we have experienced in recent history, and it can be discouraging to job seekers. The experts do agree that financial times are cyclical, and the economy will eventually go back up. Most are predicting a turnaround within 18 months.
However, as a student of accounting you have selected a field that is highly resilient to economic downturns, more so than other industries. In fact, according to HR World magazine, Accounting ranks # 9 on their list of the top 25 careers to pursue in a recession. They note, “Death and taxes are a sure thing. In a recession, people and companies are likely to get desperate for more deductions and a hard look at their books.” Furthermore, if public accounting is not for you, you can look to get a job in the accounting departments of the many other recession-proof industries such as Energy, Utilities, and Education.
If you are approaching graduation and you are concerned about finding a job, one of the most important things that you can do is to make sure that you take full advantage of all of the on-campus recruiting events that your school hosts. Lucky for you and your classmates, Rutgers has many!
Best wishes as you complete your studies.
"
Accounting - did I make the right choice?
Question: “I chose to study for a career in accounting but am getting nervous about taking a job, did I make the right choice?”
Answer provided by Chris Joyce
cjoyce@withum.com
"I know exactly the feeling. I wasn't one of those people who always knew what they wanted to be when they grew up. I didn't come from a long line of accountants and I certainly didn't dream of calculators and numbers as a kid. It wasn't until I truly learned the value and versatility of accounting that I decided it was ideal for me. Some people, myself included, might think that accountants are "grey" or "overly logical" before knowing the facts. In the business world, accounting is one discipline of study that has concepts that are widely applicable. It's the most basic framework of a business and the most intricate detail of its success.
Not only do accountants keep businesses profitable and compliant, they are also an invaluable source of knowledge, advice and expertise on many aspects of doing business. As such, you become a trusted advisor, often knowing your client's needs and issues on a highly intimate level. I do everything an accountant should do. But being at Withum has taught me so many other ways an accountant can be valuable. I aim to establish a relationship with each and every client I come across - to be more than just a number cruncher. We have the ability, sometimes directly and sometimes indirectly, to drastically influence each client's business model. As accountants, we subscribe to the highest code of professional ethics, and we help our clients embrace that. Since Enron, people in the business world have been held more accountable for their financial practices. The SEC has been monitoring corporations more closely. So high-quality, uber-ethical accountants are more important and in demand than ever!"
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