I guess it varies from state-to-state but what is the difference between General CPA license and the Attestation CPA license? As far as I know there is only one license in my state. the flow Wrote: ------------------------------------------------------- > For those with CPA license, is your license the > General CPA license? Or the Attestation CPA > license? Is attestation experience required to > get into BV or Transaction services (M&A)? > > I have CFA charter and will get my General CPA > License in March 2008. However I am having a hard > time getting into BV or TS(M&A) work. My > background has been mainly credit analysis and > risk management for retail/commercial banks. Also > currently working at a Big 4.
Only the Attestation license can sign off audit report. And to get the Attestation license, the applicant needs to have X amount of hours (depends on the State) of external auditing experience covering different areas of the balance sheet. And from what I have heard, most TS positions in Big 4 look for external auditing experience with at least 2 busy seasons. I’m trying to see if anyone knows any exceptions here.
i just perused by state board’s rules i don’t see anything about a special attestation license. it simply said you can’t attest to anything unless you have an active license.
Which State are you from? Check out the CA requirement: http://www.dca.ca.gov/cba/lookup.shtml#EXPERIENCE_COMPLETED
ga
Have you heard of anyone being successful in transfering from Big 4’s Corporate Finance to Investment Banks’ M&A?
no
i know of people in TO who did transfer to IB
kkent Wrote: ------------------------------------------------------- > Well, here’s a good way of assessing comp–my > managers are making $300 to $400K per year. I > don’t know of anyone at the Big 4 besides partners > making that much, and I know a lot of people at > the Big 4 (I live a 5 minute drive from enormous > offices of all 4). Half my business department in > college works for the Big 4 in some capacity (IT, > valuation, auditing, corporate finance, taxation, > etc.). The key is specialization–if you > specialize in an area of real estate valuation, > the sky is the limit in compensation, especially > when you start hiring people under you. > > The fact is, the original poster is a CPA asking > about business valuation. I think I’m the one who > is making a fair comparison–it’s not fair to say, > “oh well, if you become a CFA, MBA, and have 10 > years work experience at a bulge bracket IB then > you will make more than an MAI.” Of course that’s > true, but that’s not the situation. MAI takes much longer to attain than a CPA. How much experience do you need to have to receive MAI? I believe you need to first be certified as a general appraiser (SRPA) before you can even move towards becoming an MAI. I do not work in real estate directly, so if could be a little off. But, I know that the MAI’s I meet tend to be older (not in their 20s, usually not in their 30s).
You need 4,500 hours of documented appraisal work experience and 380 hours (not college credit hours, but actual hours) of classroom work. You’re right–most MAIs are older; however, assuming I don’t get laid off, I’ll be one by the age of 26 or 27. Becoming an MAI is very expensive and difficult, which is why there aren’t many.
Actually, within Big 4 if you are on the consulting side and/or M&A/Transaction Services side it is possible to make 300-400K. I know quite a few, but in all cases the key is how much business you bring in. If you are good at that aspect not only can you make a significant amount at your current company, you can essentially play the other Big 4 off each other (One person I know recently did this after not making Partner) and get even more money (they are afraid to lose your book of business). Also too, I am always interested in knowing which parts of the country we are talking about…I live in Dallas (actually outside of Dallas), which is much less expensive than many other big cities. So not all dollars are created equal. My general view though is in all these prof service firms you will be much better rewarded by being a great salesman, than a great technical person (of whatever the expertise is).
I agree, Kevin.
Business Valuation professional is a basically dressed up term for Appraiser. No matter how you spin it…
Haha, so true.
Hello,
Business valuation is not an easy task. One should kept lot of things in mind while valuating a business. Business valuators paid good if they work with big company or firms. Some companies give them the some percentage of the price while some have flat rate for every valuation.
Thnks…