Experiences

Da Za

Out of curiosity really, I am just wondering if some people have worked for both a Big 4 practice and a smaller one within the top 20 or so. The differences you found, experiences and impressions.

Thanks

Dellboy2007

I'd actually be curious to find out this information as well. I got offered a job with both a Big4 and one of the top 10 firms recently. I really enjoyed meeting the staff of the medium sized firm and thought I could really fit in within the organisation. Having said all that, it was too hard to turn down Big4, in ways I felt pressured to accept the bigger company. Without meaning to sound facetious, I feared that, in some weird and stupid way, if I didn't go with the Big4 i'd be inferior to people who did. Now, I'm not completely naive about the whole thing, I know that you get great training and have great opportunities, study time and that some jobs even stipulate Big4 experience but, in my opinion, there is a slight sense of snobbery attached to training with the Big4 accounting firms.

notanocelot

Dellboy, if you're talking about joining for a training contract then Big4 is the way to go. Even if you hate the place, the study leave/training etc means you'll make it through to qualification.

Odats

Hi there, I'll give you my experience below.

I studied Accountancy and Finance in DCU and graduated in 2006, trained in a small practice back home in Waterford 10 staff (4 of us trainees at the time at various stages). Applied for the Big4 but no joy at the time.

Training wise I got a wide variety of experience sole traders,partnerships, LTD companies in various industries. I remember my first job was a farmers set of accounts brought in a few plastic bags and folders (shoebox) and had to bring the accounts up to first review stage by the manager, the whole lot bank,debtors,creditors,investments, HP/Leasing, stock etc. Your thrown straight in at the deep end and you have to learn quick.

Done all the regular stuff VAT,RCT,Payroll,Company Secretarial,Tax Planning, Drafting Engagement letters, drafting letters of representation etc.

With small practice you get a good grounding in all aspects of accountancy. The one area small practices fall down is because of the audit exemption the exposure to proper audit work is limited given that the majority of the companies are within the threshold to qualify for the exemption. In addition you are very limited exposure in dealing with IFRS, have little or no exposure in dealing with consolidation.

However, was I at a disadvantage when sitting my exams. The answer was NO. I got the required studied leave from the Institute and was given additional time off from my principle (portion paid and unpaid) no problem. Our busy period was August through to mid November for the tax returns and after that it was pretty much 9-5 except when I got big engagements in my last 1.5 years where I was dealing with more CRO deadlines and Corp tax in addition to my original client base I was responsible for. But still the odd Saturday here and there nothing major and the odd 7pm finish.

Regarding salary there is a big difference.

After words I done 3 months volunteering in Kenya and I am out in Haiti now since February in a financial accountant role in the NGO sector which I am learning more and more every day.

Another bit of advice I was given and has stood to me. It is better to train under a boll1x (old school) and get good hard training as it prepares you for a the egos and ruthlessness of industry.

Toughest part is getting the three magic letters the rest will follow after it.