Accounting Cadetship 2008 (4 Viewers)

[leoyh]

i guess it all depends on what you hope to enter into the future, accounting or banking/finance? But with that being said, a solid accounting background is a good fundamental to have. many people who move into something different have some sort of accounting background.

In relation to PCS, i dont think it'll be number crunching and filling in tax returns, thats the old perception of what accountants do. i assume it'd be more interacting with clients to understand their situations and how to help them. with that being said, there would be some number crunching and tax return components.

However, i'm unsure of what PCS in tax actually involves so maybe someone else can give some insight?

 

[seremify007]

From memory, the peeps I knew in PCS tax were specialised in particular clients and kindof.. did everything for them. Whilst this was tax-related, it included helping them figure out issues and so on. Alot of the time clients ask stuff which we don't know the answer to, so the challenge is finding someone who does. I think there are some tax returns involved because that is the nature of the job (just like how audit can't NOT involve audit opinions); and everyone has to start somewhere. Where it gets interesting I think is that with experience, you learn what you can and can't get away with- and start applying it to other clients and giving advice. PCS gets the added benefit of being more likely to be of personal benefit to you and your mates when you are doing your own returns since you could be doing small companies, or even celebrities.

Btw no offence though dude, you may have left the "what does average day in PCS involve" a little bit late! That's usually one of the first questions... and the consideration of things like study leave comes later (although IMO, if you're only doing 2 subjects i.e. part time; it's not hard to manage... and that's before study leave comes into the equation).

ps. I'm not from tax.

 

[roadcone]

hey i still dont know whether to go pwc or westpac.. ive got till monday to make a decision or both firms will get cranky

im leaning towards pwc.. only on the basis that they offer 7.5 hours study leave which is important and the fact it seems like a good idea to get some accounting experience

can someone give me a breif description of what Product Client Services (PCS) in tax and legal involves

will i be number crunching and filling in tax returns.. or are ther more interesting facets of the work? what would an average day in PCS involve?

many thanks

you're a first year cadet, obviously there is going to be some number crunching involved to begin with because you are not that useful for anything else. however, get beyond the first six months and you will begin to get different and more exciting work.

and yes, believe it or not, if you work in tax first and foremost you are probably going to be responsible for completing tax returns. if you think this is as simple as grabbing the financial statements for the entity in question and plugging numbers in boxes, you have been misinformed. furthermore aside from the basic tax compliance matters there will always be opportunities to consult on more interesting tax matters which, as i said before, you will be able to get some involvement in eventually.

 

[haiderr]

this might have been asked before but not sure so im gna ask again:

with pwc teh contract said you must get an acceptable uai which will be determined solely by pwc... wat does this mean? do we need to get a 95+ or to get into certain uni courses?

thnx

 

[Lordie]

this might have been asked before but not sure so im gna ask again:

with pwc teh contract said you must get an acceptable uai which will be determined solely by pwc... wat does this mean? do we need to get a 95+ or to get into certain uni courses?

thnx

You need to get into UTS, Macquarie or UNSW. The UAC book is out now, this year's UAI's were 95 for UNSW, 91 for UTS and 83 or so for Macquarie. They won't change too much for next year - so you just need something along those lines!

 

[shilinjuju]

Could someone tell about secondments and is it possible to go one during ur cadetship? Does ur company pay for rent, etc.?

I hear that a lot of Aussies in accounting go to London to work.

 

[seremify007]

Could someone tell about secondments and is it possible to go one during ur cadetship? Does ur company pay for rent, etc.?

I hear that a lot of Aussies in accounting go to London to work.

Unlikely to go on secondment during traineeship because;
a) you lack qualifications to make it worthwhile for the other office
b) you also will lack flexibility in your timing because of uni commitments

However, you may be required to travel interstate or overseas for a particular engagement/job during your traineeship depending on your role and department.

Bear in mind there is a difference between travelling for a job, and a secondment. The first one is where you are travelling for a specific job and you pretty much arrive, go to a hotel, put your stuff down, and go straight to the client site. Everything is paid for of course including per diems for meals if you aren't eating with the engagement team or local office staff. This is also far more likely at all junior levels depending on staffing needs as well.

Secondment on the other hand is when you travel to another country to work in the local office and live the local life but not necessarily for a specific engagement. This can vary in length from 3 months upto 2 years (or even longer!) and depending on length, contract terms can change such as accomodation, pay (e.g. local or foreign currency), food, moving allowances (to pay for shipping of your stuff), etc..

Alot of people do choose to go to London once they qualify (i.e. get CA).

Other secondment opportunities such as internal secondments to another division are far more likely as a new grad (i.e. once you return from uni) as you will still be able to balance your studying schedule (i.e. CA).

 

[ctkid]

wow i havnt logged in for a while, congrats to all you guys that got cadetships, its really worth the effort.
I'm working at the big 4 right now and trust me, its a great experience.
I'm pretty sure you guys would have accepted your offers by now but for those who havn't, think twice before rejecting. the oay may seem slave labour but guys, you are just out of high school and know near to nothing about accounting and you get the chance to work with long term professionals who can teach you a lot more than the 10grand extra you may earn working at your local whatever store. Its hardwork but the benefits outweigh the losses. Im a first year and have loved it so far and encourage everyone to get excited! goodluck people and pm me if you need any help or advice making decisions that I may be able to help with.

 

[Vagabond]

Seremify as your senior I demand that you cease posting on these messageboards.

*giggles*

 

[jenchowdhury]

Hi everyone. I've gotten two offers, PwC Tax and Legal and KPMG Assurance. Still not really sure which one to take. Any ideas?

 

[Guol]

Hi everyone. I've gotten two offers, PwC Tax and Legal and KPMG Assurance. Still not really sure which one to take. Any ideas?

Weren't all offers meant to be accepted sometime last month??

 

[dood09]

is it possible to do a double degree with a cadetship?

eg: B business + B law
?

 

[OliverQ]

heyy im year 11

just wondering if any cadets would be willing to share what kind of UAI they got and/or extra circular activities they particpated in?

thanks in advance

 

[shilinjuju]

is it possible to do a double degree with a cadetship?

eg: B business + B law
?

Some companies do allow u to do a double degree and some just want you to do a commerce degree. I think PWC does and EY tax.

 

[haiderr]

For PwC they told me we could only study a single business degree with a major in accounting. but ther cud b exceptions

 

[fantasybluebear]

yer there are exceptions

i asked both ey and pwc whether i could do a double degree [comm/law] and they both said yes.

i was accepted for cadetships in AABS/Assurance/Audit and eventually, i said yes to ey cos they paid for everything whilst pwc only pays for 3 semesters of your studies.

that said, if you do do double degree, your contract is extended. mine is now 6 years cos of the extra years of studying for law.

 

[haiderr]

yer there are exceptions

i asked both ey and pwc whether i could do a double degree [comm/law] and they both said yes.

i was accepted for cadetships in AABS/Assurance/Audit and eventually, i said yes to ey cos they paid for everything whilst pwc only pays for 3 semesters of your studies.

that said, if you do do double degree, your contract is extended. mine is now 6 years cos of the extra years of studying for law.

awesome! congrats! so wats the work/study ratio? ie how many yrs will u b working?

 

[Lordie]

Hey guys,

I've accepted the offer with PwC as I've said before, however I'm unsure which Uni course to pick. The business degree at UTS looks very attractive, however a commerce degree at UNSW and Macquarie would also be great degrees I imagine.

What do both courses offer? How do they differ?

Thanks, hope you can help.

 

[fantasybluebear]

awesome! congrats! so wats the work/study ratio? ie how many yrs will u b working?

haha thnx =)

EY:
first 2 yrs = work full/study part (comm)
3,4,5,6 = fulltime study (finish comm + law)
7,8 = work fulltime+promotion at the end

sounds like alot of years, aye.

i've been talking to alot of cadets and they all say that even though INITIALLY, you dnt need the law degree, having it is a good safeguard if you decide to branch out later on in your career.

 

[fantasybluebear]

Hey guys,

I've accepted the offer with PwC as I've said before, however I'm unsure which Uni course to pick. The business degree at UTS looks very attractive, however a commerce degree at UNSW and Macquarie would also be great degrees I imagine.

What do both courses offer? How do they differ?

Thanks, hope you can help.

well, i've always heard the UNSW comm course is the best. i'm not sure why and sorry, i have no evidence but yes...