Видео

I studied 2 years accountancy before giving up. I could not see myself keeping up with all the tax laws. It's insane. I could not live with the responsibility and liability. Doing the books should have never become this complex. The government should do this, especially for the self employed. They are charging too much for this "service". I am even too scared to ever have a small business, because accountants are so expensive.

I’ve had all exams passed for YEARS but not certified because I’m 8 units short. Hoping California will pass the unit reduction.

Dont know weather youd be seeing this but im 24 is it too late for me to break into finance?

I majored in Accounting and got my CPA decades ago. The industry is rigged. These companies are NOT Independent. I bounced out very quickly.

Why? because its not the 1930's. Firms do not do accounting in a ledger, its is all electronic and we only need one great accountant to help write the code on the complex software not 14,000. After that its just using the software so firms don't need an expensive 'accounting' department. On top of that the work is dull, the training long and alternative opportunities everywhere. Do you really want to work at H&R Block doing tax returns? Because thats what the job is.

Entry level accounting @75k and CS major $130k (plus sign on bonus). Accounting mandatory OT without pay at least monthly! Hardly any annual bonus. People who are good with numbers can do the math.....

AI will wipe out accounting as a profession.

i dont see how AI wont over take every writing and number crunching job, you think you think you can work a spreadsheet better than a machine that never sleeps ?

=AI

Don't get a degree in finance!

I'm mad I ever went back to school because the accounting degree I am working on feels pointless to me. The only job offer i have received was for a 10 dollar an hour job working for some old coger cpa. I just went back to factory work with little hope for using the degree due to the pure lack of accounting jobs in my area. I've looked into accounting jobs at my current employer, but every single job is advertised for Punjab India.

The accounting profession is not going to die. 1) People will always need help navigating the complex tax system. 2) Businesses need to track their day to day financial activities. 3) As for outsourcing: Good work is not cheap. Cheap work is not good. 4) When it comes to financial matters, not knowing what you are doing can have disastrous results. 5) 21st and 22nd century technologies are not substitutes for the human brain. You still need a person to make evaluations.

There's plenty of accountants, companies just rather off-shore for the cheap and it's killing the profession

working under accountants is annoying too. Lots of assholes with elitist attitudes. Never seen a profession actively work against itself more than accounting. Not only are they underpaying people, they make it more difficult to get certified and outsource themselves to india.

I love accounting. I my dream is to become a CPA. I am studying for this..and i agree with you...this is a field that has a lot of potential for future...

My sister had her CPA for years and let it lapse. The company she works for has expanded greatly in the 30+ years she has worked there. At the same time the number of bookkeepers has dropped by 67%+. As the company CFO, she is not worried about her job but did say she thinks the rest may become redundant. This partly because she is in the gaming industry. The requirements are strict and if you want to keep your license you need to have an intimate knowledge of the computer programs as well as take responsibility to the state licensing commission for both gaming and alcohol. The restaurants, hotel and dock business could definitely be run by AI eventually. Time will tell and those with experience who stay up with all the development will be flexible, nimble and ready to take advantage of opportunities while avoiding the pitfalls.

Agree that the 150 hour rule is stupid. It's arbitrary and needs to go.

Agree that sims aren't necessary - you just need to know how to work the software. Nice video - jeff

Pay needs to go up. Hours worked needs to go down.

Allowing people from foreign countries to take US CPA exam without the residency requirements is one reason, talk about unfair advantage

All of the old solo practitioners are trying to sell their accounting firms and nobody wants to buy them because they never put internal controls and processes to make the firm self sufficient like hiring staff. So all of those tax returns have to go somewhere else which is where the young accountants (31 years old) like myself take over and make our money, with additional services like tax advisory in the mix I clear $400k/yr in revenue as a solo practitioner with a 95% margin after my third full year. I'll be hiring staff for next tax season. As for the Big Four, you won't make that kind of money until 10 years down the line as a partner, and you be paying a higher tax rate than I would on my S-Corp.

Joey, I was surprised when you mentioned that the extra 30 hours required can be for anything - when I became a Florida CPA in 97 the extra 30 hours were in accounting related subjects which meant that you needed a Masters in Accounting or equivalent credits. When did this change?

I have only 90 credits…I have no job but I’m studying for Enrolled agent. How should I gain 120 for exam?

The older CPA's didn't have a complex profession when they got their education and licenses. There's no entry level accounting role. The only jobs out of college are conrollers. Much of the Post 2000 accounting regulations saw the complexity of the U.S. accounting profession. The CPA exam became very, very hard to pass. The profession became very dog-eat-dog with seasoned CPA's living comfortably in their partnership roles and talking down to newcomers and offloading so much workloads onto them. Modern professional accounting requires the person to be everything. Accountants are playing more of a role in IT and decision making.

Salaries are low, exploitation is happening because there is a large supply of accountants in the market. Employees don’t have the leverage.

150 hour rule is out in three states including Ohio. Higher pay already there. I think students want fast money so it’s a hard sell.

I am doing charted accountancy can i do CPA after that?

I think pursuing a Career for most ppl will not be worth nearly what they will put into it

Yeah it sucks.According to google there are only around 43 accountants within a 30 mile radius of where I live.

So a little bit of psychological warfare is involved 😂

Thanks for this💪

I didn’t hear a single word. 🥵

Entry level jobs in my area require 1-3 years experience to be a bookkeeper or an AP clerk LOL. I switched majors junior year because I cannot get anything in my area not even an internship (I was told to relocate to New York City or Boston).

Hey I'm a sophomore in accounting do you think with the automation it's still a safe degree to get? Thanks

Please give information ❤

As a CPA who started his career at KPMG, I can confidently say that if I could go back in time, I would not choose Accounting. I left Accounting to go into IT. My wife is trying to leave Accounting to go into Data Analytics. My Sister left Accounting for IT. My Brother In-Law left Accounting for Finance, and my Sister-In-Law who works at EY is desperately trying to leave Accounting. Accounting firms are trying to water down and diminish the value of the CPA license to get more slaves instead of paying them wages that keep up with inflation. Please, any young viewers reading this, DO NOT major in Accounting if you want to make money, want to have an enjoyable career, want career flexibility, want to support a family, or want to be promoted quickly. Joey is completely wrong about everything getting better. If you add “, CPA” to your LinkedIn title, be prepared for nothing but Senior Accountant, Accounting Manager, or maybe Director of Financial Reporting roles that prevent you from taking vacation during the first two weeks of every month, during the first six weeks of every quarter, and during the first two months of every year.

If you skipped the simulations while studying, how did you deal with the simulations on the exam? I'm studying for far rn btw.

Im currently in a mid sized firm doing busy season. Currently im just getting expirence and want to get my CPA so I can move to private or transition into finance for a company. I dont see myself doing public long term I frankly think the hours are kinda ridiculous for a salary position. Expectations of this many hours should be accompanied with a reduced overtime even for salary workers. To me although I like my company and coworkers it feels like the industry as a whole takes advantage of the fast that we earn salary to squeeze out as much work as possible something needs to change long term. Im noy sure if that will ever happen though

mac jones

You dont need a cpa for entry level or mid level jobs only for senior for the most part or if you want to teach accounting classes in college then you need a cpa

They need to remove the 150he requirement and make the work experience 2 years. School is too expensive so it’s not a good return in the money

This video contains a ton of straight talk. This is all great advice for emerging accounting professionals early in their career!

They made accounting more than what it is. They were slow to embrace the changing culture and accounting is underpaid

I’m guessing the main reason is really that they don’t want to get into an incredibly boring field that is associated with middle age people hating their lives. Trying to be an influencer is more fun. 😂

Bye cpa

I find accountants are miserable people.. They will in due time throw you under the bus..

I can answer this. Have entry accountants start at a middle class income for their state and you'll see a ton of my generation want to be accountants.

the 150 credits isnt a burden, why doesnt everyone just do the loophole for 30 credits in 1 week via FEMA program?

Recent Entry level Staff Accountant Salary Offers: 53K , 57K , and I swear to god 49K. All fully on site. I declined all offers and now work for a blue collar job for construction company . My salary starting salary was 70K. Let that sink in. I literally wasted four years of my life getting a bachelor's in accounting just to get offered mid 50s . Total scam I hope this professions gets f*cked by offshoring and AI .

This is a profession that will be taken over by AI and RPA. The real skill that will be required is tax minimisation and/or avoidance.