Big4Bound: Accounting vs Finance & taking questions!
@"Big4Bound" did a 4-part series on Accounting vs Finance, check out Part 4 - The Work, he's also answering questions if you have any
@"Big4Bound" did a 4-part series on Accounting vs Finance, check out Part 4 - The Work, he's also answering questions if you have any
Career Resources
Advice on transitioning from Big 4 to fp&a?? Seems like some of the skills that a lot of the better fp&a job posts require aren't something you would gain in audit (modeling experience being the biggest I can think of right now). I'm considering an MBA to break the "accountant" stereotype, but still want to research other routes.
I answered a similar question on the original post so I'll repost the response:
See post 1 for a little more info about FP&A. It's really a mixed bag because one FP&A job can be completely different than another. Some FP&A jobs are more accounting and working on the monthly/quarterly/annual close, while other are truly analysis where you create projections and forecasts. One of foward looking one if backwards looking. They will have the same name and can be tricky. Any FP&A job is 100% do-able from public accounting and I don't know anyone that would dispute it. Corporate finance on the other hand is something separate from FP&A, just FYI.
Foreward looking: http://careers.mhfi.com/ShowJob/Id/290381/Senior%20Analyst%20Financial%… https://reedelsevier.taleo.net/careersection/50/jobdetail.ftl?lang=en&j…
Backwards looking: https://jobs-katespade.icims.com/jobs/18475/senior-financial-analyst/jo…
To your specific question about modelling skills, I don't think that is particularly common - big 4 audit to FP&A is a pretty standard move. Although we don't do modelling like you would see in banking, it's not like we don't model things in excel. If you're in audit you know sometimes create elaborate analytical procedures to show account relationships, or audit some pretty crazy models the client has put together. For example, returns reserve analysis, valuation models on goodwill and trademark impairment, pension valuations, insurance clients have insane models for basically all of their accounts, and any kind of forecast we would obtain to get understanding of something (like bonus accruals).
Looking at the experience requirements in these 3 job postings in particular, I don't think a big 4 auditor would have a problem applying.
This question was also asked and answered here: http://www.wallstreetoasis.com/forums/opinion-on-post-mba-fldps-for-cor…
tl;dr - Big 4 to FP&A doesn't require an MBA in between.
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