Onto the February 2012 questions (only answering questions that I can shed some insight on, or have not already answered before...)
What happens if you do not attain a CPA within 2-3 years?
The pressure starts to build. Your final ratings for the year can potentially get knocked down if you don't have your CPA, i.e. when two individuals are rated the same, but one has to be rated higher, the one with the CPA gets the nod. Also, and more importantly, the longer you stay at the Firm, the harder it is to find time to study. It starts to weigh on you, and you will always have it in the back of your mind. For some of the Firms, you can't be promoted to manager if you don't have your CPA. If it's a good economy, you will be a "super" senior since your promotion isn't official even though you've put in the time, if it's a bad economy, like it was in 2009, you could get laid off.
What happens if you do not attain a CPA within 2-3 years?
The pressure starts to build. Your final ratings for the year can potentially get knocked down if you don't have your CPA, i.e. when two individuals are rated the same, but one has to be rated higher, the one with the CPA gets the nod. Also, and more importantly, the longer you stay at the Firm, the harder it is to find time to study. It starts to weigh on you, and you will always have it in the back of your mind. For some of the Firms, you can't be promoted to manager if you don't have your CPA. If it's a good economy, you will be a "super" senior since your promotion isn't official even though you've put in the time, if it's a bad economy, like it was in 2009, you could get laid off.
Comments
I am not really familiar with the working papers as find it hard to finish work at the client's.i do not know how to go about prioritizing my work.
Sometimes when I am chasing the dateline and trying to do my sections at the client's I panick.My senior and manager have said to ask them if I encounter difficulty at client's but they take a long time to reply and I do not have all the time to wait for them.
I try to look at last year's files to understand and find out what documents to get and what to ask the client.most of the time I find that I only get what is happening towards the end of the audit which means I find out that there are much more work to be done.Every section every test seems so time consuming for me.i don't know how to go about prioritizing.My accounting knowledge isn't strong.Sometimes it takes me time to understand a double entry.i am trying to enhance my knowledge by reading up and improving myself.Any advise on this? Thank you
http://saifaudit.com
On another note, any thoughts on people from tax going in to audit? I hear it's rare, and I'm pretty sure the other way around is much more common... but I'm considering it to get a well-rounded experience. Potential employers from the private industries near where I live seem to like this.