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CPA who needs skills


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#1 madlong



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Posted 20 January 2016 - 09:19 PM

I graduated with a Masters in Tax about 5 years ago. During those 5 years, I've been with 3 large and mid tier public accounting firms on the TAX side, working with all sizes of businesses and individuals. I'm currently a Senior Tax Associate.


My latest performance review indicated that I lack certain basic accounting skills.  I know I've struggled with some tax returns when equity doesn't roll and I must examine the prior period to determine what the client changed. Sometimes, I could not determine the issue from the prior period (i.e. in QuickBooks), yet my manager could always find the problem.


After 5 years, I've become tired of public accounting and tax in particular. I want to move into industry and work on the financial side (monthly closings, etc). Before becoming an accountant, I worked in real estate, pharma, and biotech, and those sectors still interest me.


So, I have a Bachelors in Industrial Engineering, a Masters in Tax (and accounting), and a CPA, but my basic accounting skills are suspect. The only NON-TAX classes I've taken are:


1) Financial Accounting (at community college)
2) Managerial Accounting (at community college)
3) Intermediate Accounting (at university)
4) AIS (at university)
5) Cost Accounting (at university)


All other classes were tax classes.


Clearly I'm capable of learning, but my performance in public accounting so far is unimpressive. What is the best way to improve my basic accounting skills so I can transition into a corporate accounting role successfully?


Take basic undergrad financial accounting class (like 201) at university?
Take intermediate accounting again at university?
Study my financial Becker CPA book?
Study my Intermediate accounting book?
Study tutorials on the internet? (Where)?
Get a tutor?


I'm just not sure how to spend my time to improve.


Thanks for your experience and insights.