Remember, what one person finds boring, you may find enjoyable. As a result, the accounting profession has become a respected industry as individuals and businesses understand the need for quality CPAs. Before committing to pursue accounting or the CPA designation, you should first assess the issues and ensure the accounting profession is right for you. While the general population recognizes the stability of the work environment, higher-than-average pay, and respect due to the profession, no child grows up saying, “I want to be an accountant.”. This is why the pass rate varies by section and time of the year. One small calculation or input error can flow through and impact multiple accounts. When it comes to deciding which accounting system will best fit your needs, it’s important to consider both a traditional accounting system and a cloud-based accounting system. Often, these CPAs file hundreds or even thousands of returns (depending upon the size of the firm). Some view accountants as antisocial individuals who only like to figure out math problems and crunch numbers. With a traditional accounting information system, companies must keep a physical copy of the data, which can easily be stolen or destroyed in a fire or flood. In order to maintain your CPA designation, your state board requires continuing professional education (CPE). Technical lessons may include courses on updates on tax law, using Microsoft Excel for financial modeling or capital budgeting, and auditing material. Further, CPAs can command higher-than-average compensation due to the demand for their expertise. After all, spending that much time under fluorescent lights and surrounded by the same people can be mentally draining. Considering you’ll already be working 50+ hours a week as a CPA (see Disadvantage #3), getting the necessary CPE often comes at the expense of your personal time. Depending upon the CPA’s specialty, this could be around tax time (January – April) as they help clients prepare their tax returns. Not only does the tedious nature make accounting boring to some, there are several other characteristics of accounting that may induce boredom. If you think the hard work is over by graduating college and passing the CPA Exam, you’re in for a rude awakening. As a coping mechanism for feeling overwhelmed, many workers may even delay starting projects that must be completed under a tight deadline just because it feels insurmountable. Eventually, everything comes together right at the very end! Completing accounting tasks with a traditional accounting system takes lots of time and is labor-intensive. Corporate tax accountants experience similar deadlines. While extensions can be filed for both individual returns and corporate returns, the initial corporate due date is generally April 15. Preparing tax returns eventually becomes repetitive. Therefore, if work/life balance is your top priority, you’ll need to make a concerted effort to find an employer or role that fits your needs. However, you’d be hard-pressed to find a CPA or accountant that says the work is “fun.”. Let’s take a look at some advantages and disadvantages of a traditional costing system. Come filing season, CPAs who work in financial reporting often work under tight deadlines to complete their work within the allotted amount of time. This not only helps users eliminate data entry errors but also helps companies save time and money against devastating business mistakes.
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