I'm starting my masters in accounting in May. I'm not too experienced in accounting (my program had a cap on the number of accounting classes you could come in with at 9 hours). Before the end of my summer term I have to pick between audit and tax. My question is, how do they really differ on a day-to-day basis on the job? Are the promotion tracks similar? Chances to make partner the same or different?
I see audit as something that will always be around. I like it because it gives you the chance to observe a lot of different companies and figure out your niche. Tax codes may change, but everyone will always need an audit.
Tax? I don't know too much about it. I sat in on a corporate taxation course on my campus visit and the prof made it seem extremely interesting. But what are the odds of the tax code being changed extremely (flat tax/fair tax) and the specialization becoming fundamentally obsolete?
I'll most likely be in Charlotte or Raleigh after graduation, if that makes a difference.
Thanks for the input!