You may be thinking: When will I have time to plan my future in accounting? You probably spend a fair amount of time at work, especially during busy season, but don't despair. There are four tactics that are quick, thoughtful ways to get ahead in your first few years of practice.
Original Title
Full Speed Ahead -- 4 Ways to Set Your CPA Career in Motion
You may be thinking: When will I have time to plan my future in accounting? You probably spend a fair amount of time at work, especially during busy season, but don't despair. There are four tactics that are quick, thoughtful ways to get ahead in your first few years of practice.
You may be thinking: When will I have time to plan my future in accounting? You probably spend a fair amount of time at work, especially during busy season, but don't despair. There are four tactics that are quick, thoughtful ways to get ahead in your first few years of practice.
Four ways to set your CPA career in motion By Lauren Alexander, CPA
A s a young professional in the wake
of the inclement economic climate of the past year or so, you may be trying to determine your best strategy for “getting ahead.” Whether you’re working American Institute of CPAs (AICPA) or Institute of Internal Auditors (IIA). These organizations’ missions are to connect like-minded professionals and distribute specific resources and information to their for a public accounting firm, becoming a members. Such memberships are perfect sole practitioner, considering a move to for a CPA who wants to learn more about industry, practicing as a consultant or just the industry in which he or she is working. You may not realize looking to think strategically about your For example, my firm specializes in career in accounting, this article is for forensic accounting and litigation consult- it, but a mentor is an you. ing services, so I joined the American Bar essential component You may already be thinking: I barely Association (ABA). I have attended local had enough time today to pick up this is- committee meetings and the ABA annual of your professional sue of Disclosures — when will I have time conference, both of which provided an op- to plan my future in accounting? If you’re portunity for me to learn more about the network. like a lot of young CPAs, you spend a fair legal landscape as it pertains to forensic amount of time at work, especially dur- accounting, understand the perspective of ing busy season, but don’t despair. The my clients and, ultimately, position myself following four tactics are relatively quick, to market my firm’s services to prospec- but thoughtful ways to get ahead in your tive clients (attorneys). first few years of practice. An added bonus: Most professional or- ganizations provide a platform for service- Branch out oriented professionals to contribute to the Research and join an industry-specific community. Even if you don’t have time professional organization in addition to volunteer year-round, try to select a to joining accounting-focused profes- program that allows you to contribute in sional organizations, such as the VSCPA, bursts (when you’re not working over-
4 Today’s CPA • Disclosures • July/August
time during busy season) and one that Look back mentor assignment wasn’t a match made allows you to turn up and down the flame In your first few years as a CPA, you in heaven or your firm does not offer a on your participation as necessary. may not have kept in touch with your mentoring program, consider seeking alma mater, but it’s a relationship worth out an alternative. Many universities and Zoom in cultivating. professional organizations such as the Keep up-to-date on the happenings of Professors and organizations on cam- VSCPA offer mentorship programs. Before the accounting world through Continu- pus, like Beta Alpha Psi, are often seeking you begin your search, evaluate your own ing Professional Education (CPE) courses, young alumni to speak on job panels, share professional goals, so that you can seek a thumbing through the AICPA’s Journal of experiences with students about what it’s mentor who has chosen a similar path. Accountancy, VSCPA’s Disclosures, visiting like to work as an accountant in the “real Once you have found a mentor, foster the Securities and Exchange Commis- world,” or give a talk about a specific area the relationship by contacting your mentor sion and Financial Accounting Standards of accounting or technical issue. Contact on an ongoing basis to keep the relation- Board websites or just reading The Wall one of your professors or an organization ship fresh. Remember that mentoring Street Journal. You may still be celebrat- on campus to see how you can contribute. relationships involve trust and chemistry, ing successfully completing the Exam, but These opportunities are threefold: They neither of which occurs overnight. Espe- continuing to sharpen and refresh your add valuable experience to your CV, for cially at the beginning of the mentoring technical skills will set you apart from example, in public speaking; allow you to relationship, be clear about your inten- other CPAs in your department or on your foster relationships on campus (build your tions by sharing with your mentor specific team. personal network); and provide your firm long- and short-term goals. However, be Most firms require employees to obtain exposure to upcoming graduates in ac- conscious not to monopolize your men- CPE credits annually anyway, but don’t counting (a strong contact at your under- tor’s time. Instead, e-mail your mentor think of it as a chore. There are hundreds graduate or graduate accounting program an occasional update, drop by with coffee of ways to get valuable CPE — often could help you or your firm have access or send your mentor an article he or she online for low or no cost — and learn to the best new hires). Even if you’re not might find interesting. something relevant to your practice (that’s directly involved with the recruiting func- Finally, once you have an established interesting too). tion at your firm, most schools have young mentor relationship, consider becoming a These include self-study courses, alumni boards and other satellite organiza- mentor yourself; sharing your own experi- webcasts, training events or conferences tions designed to connect young alumni ences and insight is not only rewarding, and are available through the profes- and promote networking. but motivates you to reassess your own sional organizations described above, the Your alma mater also has a stake in your goals. VSCPA, the “Big 4” accounting firms, success, as it hopes to see alumni develop To conclude, there are a variety of ways etc. Many webcasts can be completed for and prosper, contribute to the school and to “get ahead” as a young professional — I no cost in just an hour during your lunch provide mentoring relationships to even have only outlined a few in this article. But break, and can arm you with the basics on younger alumni, among other things. it’s worth noting that the most successful an upcoming issue in accounting or the Many Virginia colleges and universities professionals in my workplace think stra- buzz about a new pronouncement. provide career services to alumni, such as tegically about “getting ahead,” and don’t It may seem like a simple way to get making staff available to review résumés follow blindly down the career path. ahead, but just exposing yourself to new by e-mail or in person, and providing or updated accounting standards or activity alumni access to job postings and network- in the industry could lead to sharing a tip ing events, such as career fairs. with a client or contributing a quick fact in a conversation with your boss. The follow- Make a connection Lauren Alexander, ing are several resources for learning about You may not realize it, but a mentor CPA, is a senior CPE opportunities: is an essential component of your profes- manager at Veris sional network. Mentors provide a wealth Consulting, Inc., a •• www.vscpa.com of experience and knowledge about your Virginia-based consulting firm that workplace, industry and even office poli- specializes in forensic accounting •• http://vscpa.acpen.com tics. And mentors aren’t just important and litigation consulting services. •• www.cpelink.com/?s=8ave3p7 for individuals beginning their careers; She is a recent graduate from the
•• http://cpe.cpacrossings.com/vscpa a mentor can be there throughout your University of Virginia’s McIntire
career to coach you through promotions, School of Commerce. Contact her at •• www.cpa2biz.com career moves and the occasional profes- lalexander@verisconsulting.com. •• www.deloitte.com/us/dbriefs sional blunder. Many firms assign formal mentors To offer another recent graduate •• http://www.kpmginstitutes.com/ on your first day of work, which can be perspective, Beth Helle, a senior events helpful navigating those first few months consultant at Veris Consulting, Inc., at new job. However, finding the ideal also contributed to this article. mentor may not be obvious. If your formal