Off the Ledger

Derek Dill - Audit Staff

And no, I'm not talking about the iPhone capability; I'm talking about client service!

Technology of the 21st century has transformed and evolved the audit landscape over the past 10 years.  Due to the implementation of the paperless auditing many accounting firms are working remotely and reducing time spent with their clients. Although, this results in endless efficiencies and benefits for both parties, we know that there is still a need for face to face interaction.  Making the most of your interaction with your clients can be a key factor when trying to differentiate you from your competition.   The time spent with clients not only provides relationship growth but allows the audit team to pick up events or trends that may be beneficial to the audit, but not known unless on-site.  

As I mentioned before, technology has allowed for increased efficiency related to financial statement audits, but with these gains also comes increased complexities related to financial accounting and regulatory guidance.  It is imperative to be on the "same page" with management when discussing complex accounting issues and therefore these issues should be discussed in the field, if possible. 

In Atlanta, just as in any large city, there is an abundant amount of competition. Every firm has well educated and experienced professionals. I have learned that PKM not only has sophisticated and informed personnel, but here we also aim to provide exemplary service week in and week out--which I know is one of the reasons we continue to be a leading accounting firm in the city Atlanta.

 

Tim Davis - Systems Intern

When it comes time for deciding what area of accounting to pursue, most students are left with the traditional choices of tax or audit but today a third option is becoming a highly viable alternative, Accounting Information Systems.  Accounting Information Systems (AIS) collect, store, process, and manage the financial data of an organization as well as provide the controls that safeguard the data.  Data is one of the most valuable resources in the modern corporation and effectively managing that data is a needed competency for all organizations.

Education and Certifications

The study of AIS combines traditional business and accounting classes with a focus on management information systems.  While most colleges offer a standard AIS course at the upper level of the undergraduate program along with courses in Tax and Auditing, few students realize that AIS is specialization within the accounting profession.  Only a few schools offer a major in AIS, and only a few others offer it as a concentration within a typical accounting degree.  Therefore, focusing on AIS at the undergraduate college level requires planning and initiative on the part of the student.

If you decide upon this career path only to discover that there is no established way to specialize in AIS at your college, you may be able to design your own program by taking the right combination of courses in accounting and computer systems--a minor or double major in CIS is an option.  In addition to normal classes, training in computer networking and server administration will provide a good knowledge base to enable the entry level AIS staffer to speak intelligently with IT professionals.

Similar to public accounting, most positions in AIS require more than an undergraduate degree. Luckily, graduate education will allow the student more opportunities to specialize in AIS than are available at the undergraduate level.  For those interested in becoming a CPA, this will also help meet the 150 college credit hours requirements of most states.  Another popular certification for AIS professionals is the Certified Information Systems Auditor (CISA). Certification requirements are similar to CPA and include a minimum of a year of relevant job experience, passing an exam, and continuing education.

What's important? JOBS

AIS professionals have many opportunities to work for traditional public accounting firms as well as consulting firms, corporations, and government agencies. In addition to having the option to work for many different types of businesses, specializing in AIS opens up the possibility of obtaining many different positions with those organizations.   Accountants with AIS experience may assist companies in designing software and accounting information systems.  Financial auditors use AIS to examine the financial statements of a company and to ensure compliance with Sarbanes-Oxley requirements.  Systems auditors examine data processing, data integrity, security, controls, and other aspects of information systems used by organizations.  AIS consultants make recommendations for process improvements by determining the existing inefficiencies in the systems of companies. Finally, a career in AIS can even lead to becoming an executive or partner.   New executive level positions of CIOs, CISOs, and CSOs all require a background in information systems while the traditional roles of CFOs and CEOs of even non-technology driven companies can benefit from this knowledge. 

The Future

The various positions and job roles that can be pursued by the AIS professional can lead to a career that while rewarding and lucrative, is also in great demand. By improving inefficiencies in processes and management, AIS is critical to the profitable performance of the modern organization.  As more and more business and industries are driven by data and the need to keep that data secure, accurate, and reliable, there should be no shortage of careers in accounting information systems.  The Bureau of Labor Statistics is in agreement with its employment projections indicating that careers in AIS will be growing much faster than average with excellent pay and career opportunities. Pretty sweet for a third choice!

Andy Abeye - Copy Room Manager

Dave Berry - Audit Manager

Advances in technology have changed the way in which we work today. For instance, many companies are paperless now which creates a centralized source of information that employees can access at any time and in any place.  While there are obvious efficiencies to be gained with the adoption of advancements in technology, there is also an increase in employee freedom. Employees and CPAs in particular, are no longer tethered to their office and are allowed to work remotely. PKM is a great example of this freedom in action! As employees gain more experience, and more responsibility is given to them, they are often given an increase in freedom and the firm allows employees to work from home when appropriate. This is among one of the many benefits of working for PKM...especially when trying to avoid traffic in downtown Atlanta!

Lisa Flynn - Audit Staff

I can hardly believe that I am starting my third busy season! I think back to four years ago to my last semester finishing up my MAcc and can't believe how time has flown since. Four years ago I was studying not only for my last few classes but had started to take the CPA exam. A wise piece of advice I heard from CPAs during recruiting was to study for the exam while you are in college and before you start public accounting full time. That was some of the best advice I've ever taken thus far!

While it may be tempting to have nothing to do but fun this last semester, don't forget in a few months you will have the responsibility of a full time job and being out in the world on your own. When I started my full-time career in public accounting the fall after I graduated, I had one section of the CPA left to take and studying was just a little more difficult when I didn't have the same flexibility that I had in college. Comparing when I took the other three parts of the exam during college to my time studying for that one section I had left to take, I wish that I had passed them all before starting work.

That's not to say you can't pass the CPA exam while working, however. I was able to, and so many others before me have passed as well, but I think the one resounding piece of advice you will hear is get it done now while you're still in college. You can definitely still have fun your last semester with the additional studying. Just make sure to manage your time well and focus and you'll have the best last semester of college!

Christian Albarracin - Audit Associate

Most CPAs would agree that busy season is the most challenging time of year in the profession.  While the degree of difficulty and the timing of busy seasons may vary based on the nature of the public accounting work (i.e. audit, tax, etc.), they are all challenging.  One other thing they all have in common is that having a great attitude will help one perform better during this hectic time and will help to minimize the stress that may potentially be generated as well as the negative effects of stress.  This is not to say that if you do nothing but have a great attitude then you will be unaffected by these common stressors of busy season.  But rather, a great attitude will allow you to adjust and react in the best possible manner to the forecasted as well as unseen issues that accompany this busy time of year. 

Having a positive attitude will allow you to be proactive in taking on foreseen challenges and will usually help you to work more efficiently, freeing up more time to tackle the unforeseen obstacles that may come your way.  Having a great attitude will also help you to embrace this busy time of year rather than dreading it, which will help make the time go by faster. 

It's similar to a long road trip, if you are dreading the trip it will constantly seem like you are sitting in park, whereas if you're looking forward to the journey, you'll find yourself pleasantly surprised with how far you've gone every time you look up!  This positive attitude may even extend to those you are working with as well as your family and friends. Remember that a great attitude is no substitute for hard work during this time of year, but it will help to maximize the output of your hard work. 

Happy Busy Season!

Nadine Adams - Tax Staff

One of the things that made PKM stand out from other Atlanta CPA firms during the recruiting process was the flexibility that the firm offered. During my internship it became clear that this was not just talk. I saw that PKM allowed staff to work from home on Saturdays instead of having to drive into the city, employees were assigned to engagements in industries they prefered and flex-time during the non-busy season was quite common--and these were just a few examples! The biggest flexibility the firm showed, in my case, was when I was offered a part-time position in the tax department while finishing up my Masters degree in Tax at Georgia State University.

When I agreed to take the offer, I did not have any idea about all the hidden benefits. Not only was I gaining invaluable experience through performing actual work, but also some of the theories that I had learned about in class were no longer relevant or new. It was not always in my classes that I heard about state apportionment, valuation allowances or accounting for temporary and permanent tax differences for the first time. Best yet, I had already applied the concepts to actual cases that were far more complicated than any example in a textbook. This was a big advantage when it came to exam time. But it's a two way street! Because of what I was learning in my classes, I was better able to understand some of the work that I was doing for PKM. So, looking back, the flexibility that first attracted me to the firm has really worked out to be a huge benefit and advantage for me in my career as a CPA.

Scott Jones- Audit Associate

Every public accountant remembers his or her first busy season like it was yesterday.  Working long hours, discovering firsthand what auditing in the real world is like, and learning the art of business-travel are all part of the experience.  My first busy season was during my internship with PKM in the spring of 2007.  From my experience, I'd like to share with you my top five tips to help you gear up for your first busy season as an intern or full-time staff!

1)       Buy some quality luggage - During busy season, you're likely to spend a decent amount of time on the road.  With all of this traveling, it's important to have a quality set of luggage to cart your clothes from one place to the next.

2)       Get a good credit card - Also in line with the traveling theme, it's important to have a credit card to charge travel expenses such as hotels, meals, and gas.  Of course, you'll be reimbursed for these expenses later, but try to take advantage of cards that give you rewards or cash back.

3)       Beef up your wardrobe - The general rule for accountants is to dress as nice as or nicer than the client.  Although the majority of companies are going to the business casual dress code, we still have multiple clients that are business professional.  Because of this, you must have several suits and a collection of ties in your wardrobe so you can look sharp.  Also, I highly recommend wrinkle-free or non-iron shirts so you'll hardly ever have to use an iron.

4)       Pack a snack - With these long hours you'll be clocking in, you're bound to get hungry.  So pack a snack you can munch on throughout the day.  My personal preference is natural almonds. 

5)       Get a fuel efficient car - Depending on your schedule, there's a good chance you'll be doing a lot of driving during busy season.  It's just not economical to have a gas guzzler if you're driving all over the Southeast.  For this reason, I recommend getting a fuel efficient car.  This will help save on your gas costs, and will also be better for the environment.

Whether you're an intern or a first year staff, I think these tips will be beneficial to prepare you for your first busy season.  Good luck to you all!

Sonny MacArthur- Partner

Everything we do in life revolves around relationships. As a student, you have relationships with faculty, staff, friends from home, new friends you have made in college, family and so forth.  Public accounting is no different and your success not only hinges upon your technical accounting skills, but also your ability to build and nurture relationships. Relationships must be forged with your fellow colleagues, clients, attorneys, investment bankers, other accountants and a variety of other professionals. The process for developing relationships in your professional life is no different than the process for developing personal relationships that you have forged throughout your life. It is about being yourself and, more importantly, about listening to others and having a genuine interest in them as a person.  As an accountant, you will solve problems for clients and will be respected for your technical expertise.  However, your ability to develop and maintain relationships is what will differentiate you from other professionals with similar technical expertise. So, my advice is to always rememeber to build and maintain strong relationships- you never know when they just might come in handy!

Arvil Stanford - Partner

So, it's time to get off the bench. You have spent the last several years living the college life and preparing for the "real world" in the wonderful, and challenging, career of public accounting. Here are a few things to remember as the interview process kicks off--great people, great clients and great leadership will create a great working environment!

Great people: What do you know about the people that work at the firm(s) for which you are interviewing? Prepare for the interview by making contact with people that you already know or people that know the people at the firm(s) you have targeted. Be prepared for the interview and gain additional relevant information about the firm's people, working environment, and culture. Once you get a feel for the overall culture, make sure that it meshes with your own personality and what you are looking for in a firm.

Great clients: The next most important factor in getting your career off to a great start is to think about what type of clients that you would like to work with. Do your research and spend a good deal of time discussing this critical factor with your interviewing firm. Whether it's public or private companies, individuals, or even a specific industry niche, make sure the firm you ultimately choose has clients that align with your interests.

Great leadership:  Does the firm's values align with your values? The tone is set at the top. A firm's values are driven by its leadership. How much do you know about the management team at your selected firm(s)? Make sure to do your research and use your network to learn as much as you can and be prepared to ask the right questions in the interview. If a firm's core values do not match up with your own, it's likely not the right place for you.

With that, it is time for me to get back to work and for you to enjoy the college life. We look forward to hopefully seeing you somewhere down the recruiting trail!