Job Offer - Accounting student

Hello guys. I am an accounting student and recently i received a job offer as an accountant in a company. I really want to work in Big 4 or some mid-size public firm, so i am not too interested. Work begins after graduation (after june), What if i just sign the offer letter and still keep looking for a job? What could happen if i sign the offer letter then never show up; provided i find a job in public accounting in the meantime?

 

I read the letter and there is no contract here. SO basically i don't think i am obligated to show up. How does one go about reneging though? Should i just call them week before and explain that i've found a better job or what type of excuse would be good?

Thanks

 
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