I’m new to the forum so I apologize if this question has been asked before.
I’m a CPA with a few years experience in public accounting (as an auditor) and i was curious about jumping into an FP&A/ Finanical Analyst role. So my questions are:
Is this a difficult transition to make? Is there much in a CPA/ auditor backgroup that transfer over or woud potential employers shy away because of my background?
Also, if any has any expereince in this, would a finance role be good role to blend with accounting experience? In other words, what would a resume that boast experience in public accounting and FP&A be able to transition into later in life?
Public accounting to FP&A should be a relatively easy transition - at least in comparison to moving to ER/IB/etc.
Your accounting knowledge should prove very useful, as long as you’re able to prove you can still think/solve problems with a business mindset. Consider that many positions in FP&A are primarily charged with supporting a line of business in forecasting rev/exp and decisioning investments. Accounting knowledge is obviously helpful, but thinking like an auditor can be a hinderance.
If you worked in Big 4 accounting/audit I’d have no doubt you’d be able to land an offer in F500 FP&A at the analyst level. Smaller firms you’ll just have to prove yourself outside of the brand on your resume.
I left public (Deloitte) to work as analyst as I wanted something that uses the accounting, but wasnt the sole focus (like a GL job). I work now in really a blended role (director of finance) that has some of the traditional aspects of accounting.
The FP&A roles tend to be in a couple of basic camps…some are going to be more bent on your having a strong background in data mgmt (excel, access, etc) and will be supporting the business managers, but maybe arent as accounting intensive.
The others will be more about accounting in the sense of probably the way the CFA covers it…financial statement analysis, explaining the results, forecasting, etc. Then in both types you could have some aspects of the traditional finance like working on return metrics.
At least, that is based on both what I have worked in but also interviewed for.
As to where it could lead, I dont know from an analyst level. When I was an analyst I was interviewing for some due diligence roles as they liked the public background, but having some experience inside a company. At the higher levels I am mainly looking at VP/CFO type roles in industry…nothing really outside as I likely have to take a little lower role.