And fortunately for you, we asked Oregon’s last two Elijah Watt Sells Award recipients for their advice on the exam, here’s what they had to say:

Angel Davis, Precision Castparts Corp, Portland – 2012 Elijah Watt Sells Award recipient:

“My first recommendation is to stick to a rigid study plan. Work will always keep you busy, but avoid making excuses to not study. Secondly, while there is a great deal of memorization, it is crucial that you force yourself to spend the time understanding the rationale behind the accounting standards. Come test time, when you can’t remember the application of a specific rule, you can apply your understanding of the principles.”

Steven Purvis, Deloitte & Touche LLP, Portland – 2011 Elijah Watt Sells Award recipient: 

“Formulate a realistic plan of attack before you begin studying and stick to it. I found that the CPA exam is really a test of one’s discipline and mental endurance and it really takes dedication to perform at a high level. That being said, you’ve still got to reward yourself for all those minor victories along the way. Lastly, do as many practice multiple choice questions as you can get your hands on.”

“I used technology to help me study by doing lots and lots of multiple choice questions in the prep software, letting the software keep track of my right/wrong answers, and tracking progress. I would do multiple choice questions over and over again until I understood the concepts and had gotten each multiple choice question correct in the software at least once.”

There you have it, secrets of success from two of the best, what other tips do you have?

Travel Bags: 

Whether an accountant is traveling to an audit site or to a seminar, a versatile travel bag is a necessity.  Pan Am (remember them?), has an extensive line of stylish retro bags perfect for any form of travel. For a truly utilitarian bag, there is the Bag of Holding, which is capable of holding a laptop, folders, pens and more!

Pan Am Bags

Bag of Holding

Water, Chocolate and Champagne Therapy: 

Auditors are always on the move and may find themselves in a remote location on an engagement. Hydro’s On-the-Go Filtering Water Bottle is the perfect remedy for clean water without the waste and expense of regular bottled water.

Hydro’s On-The-Go Filtering Water

Whether it is January 1st or April 15th, accountants need to celebrate just like everybody else. Since accountants appreciate transparency, they are sure to enjoy the Inside Out Champagne Glasses by artist Alissia Melka Teichroew.

Inside Out Champagne Glasses

Being an accountant can be stressful. Therefore, it is important for them to relax and stay healthy. What better way then therapy through healthy chocolate? Missionary Chocolates is the best prescription for any sweet tooth addiction.

Missionary Chocolates

Coffee, Coffee and More Coffee:

Accountants drink a lot of coffee, especially around tax season. A great way for an accountant to maintain their caffeine intake without wasting time is the World’s Largest Coffee Mug. Sure the coffee will get cold, but just think how much their billable hours will increase by not having to leave their desk for time consuming refills.

An accountant’s work is never done, therefore they require a constant stream of caffeine no matter what the season. A twelve months supply of free-trade coffee from Grounds for Change is sure to deliver the buzz they need to conquer a year’s worth of spreadsheets.

World’s Largest Coffee Mug

Desk Supplies:

Unless they’re an auditor, most accountants spend the bulk of their time at their desk. The perfect supplies can make their domain more habitable. If they tend to eat at their desks, a Washable Keyboard by Logitech might be just what they need.

Logitech’s Washable Keyboard

In our high-tech world, many firms are going paperless. As a result, documents are scanned, but not before pesky staples have been removed. Sure paper clips work, but they still add to the landfill. To solve all these problems, there is Go-Go Gadget Stapler, the clear staple-less stapler.

Go Go Gadget Stapler

As I mentioned earlier, accountants are not boring people and some of them are downright hilarious, wacky and brilliant. For the accountant that likes to channel their inner Jim Carey, perhaps the Crazy Calculator is the accouterment needed to remain sane in their cubicle kingdom.

Crazy Calculator

Battling through forms can leave an accountant’s eyes strained from all the small print. However, a magnifier can help and this stylish one from the MOMA won’t be an eye sore on the desk because it doubles as a paperweight.

Page Goolrick, 2008 – Magnifier and Paperweight

For more gift ideas, be sure to check out my post from last year!

Special thanks to Delap LLP, Jones & Roth PC, Moss Adams LLP and Van Beek & Co. LLC for answering our questions!

Jokes aside, we really don’t want you to end up in any embarrassing situations like Ben Stiller when you meet the firms, so here are a few tips.

Watch this short video we put together from the OSCPA’s Career Showcase last year, there are some great tips from attendees, including one attendee who lined up an internship the year before. By the way, if you haven’t registered yet for the 2012 Career Showcase, you can do so here.

Melissa Thornton from CalCPA also posted some great tips recently on Twitter, here are my 5 favorites – make sure to read the rest from @CalCPA_Students:

Tips for Meet the Firms: 1. Don't underestimate the power of a firm handshake

—
Melissa Thornton (@CalCPA_Students) September 19, 2012

5. Set yourself apart, have more to say than "I'm a junior at (insert school here)."

—
Melissa Thornton (@CalCPA_Students) September 19, 2012

6. Research the companies in attendance. Make a cheat sheet but don't carry it so that everyone can see how you've ranked firms

—
Melissa Thornton (@CalCPA_Students) September 19, 2012

7. Explore other ways to make connections, attending networking events may seem like a pain, but it'll make Meet the Firms much easier

—
Melissa Thornton (@CalCPA_Students) September 19, 2012

10. Practice, practice, practice. Consider doing a mock Meet the Firms with your accounting club or @_betaalphapsi chapter

—
Melissa Thornton (@CalCPA_Students) September 19, 2012

So, what other tips do you seasoned veterans have for up and coming accountants?

Also, we hope you didn’t have any Ben Stiller-esque moments at your Meet the Firms events – but if you did, we’d love to hear about it!

~ Joel from the OSCPA Communications Team

Once you enter the realm of accounting, words such as “tracing” and “vouching” take on a totally new meaning. As I delve further into this world, I am bewildered and befuddled by its confusing nomenclature. For instance, “covenant” doesn’t refer to a gathering of witches, “cutoff” is not something you wear with flip-flops, “FBAR” is not a screw-up, and surprisingly “crack spread” isn’t what drug addicts eat on toast. Although the term “involuntary conversion” may sound like the point in time when a shape shifter has its painful transformation from man into werewolf, it wouldn’t necessarily be triggered by a full moon. To get even more mind-boggling, “SOX” can’t be worn on your feet, a “fair value hedge” can’t be purchased from the garden department at Home Depot, “FASB ASC 740” is not one of the droids the Jawas sold in Star Wars and a “Double Irish with a Dutch Sandwich” is not a popular European breakfast cure for a hangover.

The dynamic parlance of accounting and finance reminds me of a quote by the famous linguist Noam Chomsky, “Language is a process of free creation; its laws and principles are fixed, but the manner in which the principles of generation are used is free and infinitely varied. Even the interpretation and use of words involves a process of free creation.” Accounting is said to be the language of business, but as commerce evolves, so does the vernacular. As a result, accountants by trade are given the responsibility to constantly learn, grow and adapt to these changes.

If you are new to the world of accounting such as I am, acclimating may seem difficult, especially when it comes to the lingo. However, keep in mind that on your journey you may experience gains and losses, but in the end it’s all debits and credits.

1. You always get things done on time, but every deadline involves a heroic scramble in the last days and hours. Scrambles may be characterized by: all-nighters; asking support staff to work outside of their regular hours for your project; couriering or expressing things that could have been sent via regular mail had they been done earlier; always getting sick immediately after deadlines. (There are legitimate, not-time-management-skill-deficit reasons for reoccurring heroic scrambles in the short term, especially in public accounting since the workflow is extremely dependent on other people.  In the long term though, if this is consistently true, there’s room to work with your clients and colleagues on pacing to at least shorten the scramble phase of recurring work. This is accounting: it’s important work, but it’s not an emergency room and it shouldn’t feel like one.)
2. You routinely cut back on sleep in order to have more time near deadlines.
3. You often sacrifice healthy habits near deadlines, such as: cutting back on exercise; skipping regularly-scheduled occasions with family and friends; choosing between brushing and flossing instead of doing both; and eating out at random places and times when you realize you’re starving  instead of planning where & when to eat meals ahead of time.
4. You wake up remembering detailed dreams about deadline catastrophe.

While watching these truly dedicated and, therefore, incredibly accomplished folks compete, I was struck by a few thoughts (and, yes, I will tie them to Accounting before I’m done…)

(1)    In a track and field competition, there are no do-overs.  One chance, that’s it – you’re in or you’re out.  And the end result is all on you – no teammates to help or blame for the outcome.  So you had better practice long and hard and bring your “A” game.  Anything less and you go home and hope there’s a next time.

(2)    The audience for this event is primarily populated by people who also engage in at least some these activities on a regular basis.  I wondered just how many people watching had run that morning – my guess, a good 60-70% of them – of which I was one.  Can’t say that about a football audience!  So the audience knows, intimately, how these athletes feel – what they have had to go through to get to this place; what this has cost them.

Here is where I tie these thoughts to accounting:

No Do-overs: Remember to practice long and hard – always learning and improving so that you can be at your best.  Always bring your ‘A’ game.  Assume that this job/project/tax return is it – your one chance to show what you’re capable of.  Ultimately, even though you are part of a team/firm/company, your performance is all on you.

Participate: Do not sit on the sidelines.  Do not just watch others performing amazingly, be amazing yourself.  And even if you are not an “Olympic-caliber” accountant, this does not mean you can’t fully participate in all the profession has to offer.  And if you have to be on the sidelines for a time, you can cheer on your fellow “athletes” as they endeavor to attain gold.

GO TEAM USA!!!!

Five Favorite Free Online Services:

Scheduling a meeting: Doodle

• Let’s face it, trying to coordinate a meeting time for a multitude of participants can be a stressful nightmare. However, you can eliminate your anxiety with one of my favorite online tools – Doodle. No formal sign-up for this service is necessary for any of the parties involved. Plus, the website is easy to use and only takes a few minutes to set up. Here is an example of the interface.

Faxing without a fax machine: FaxZero

• Who needs to have one of those clunky machines (that’s soooo last century), when you can send your fax free via the web? Fax Zero is my favorite because they don’t make you sign up for anything. You simply attach your document (.doc, .dosx, or .pdf) with your name and email address, then you’ll receive a confirmation.

Transferring large files: WeTransfer

• I recently discovered some email carriers compress and convert the size of large image file attachments. I found this extremely disconcerting because the quality of the image received by the recipient maybe seriously compromised. To guarantee the quality of the image will be preserved when sent, try using a file transfer service. I like using We Transfer because they do not require any sign-up and you will receive a confirmation when the file has successfully been sent. You can use this service for any kind of large files.

Share or publish documents: Scribd

• Are you interested in sharing your research, presentations, newsletters or manuscripts with the world? Now you can through a publishing database called Scribd. You can even view posted documents through mobile devices. The best part, Scribd offers many of its wide variety of documents at no cost.

Conference Calls: FreeConference

• Do you ever need to coordinate more than three people on a call? Setting up a conference call through FreeConference is extremely simple and you can invite up to 150 participants. Like most “free” services, they also offer “premium” packages, which include various fees. However, I have used their free service for years and have found it to be adequate and reliable for my needs.

Dress Professionally

1. Buy work pants that hold a crease but don’t get wrinkly.  Even if you like ironing, you can’t count on having time to do it reliably, especially during busy season.  To see if the trousers you are considering meet this criteria, grab a fistful of the fabric and crumple it.  Hold it like this for a count of 15.  If a gentle shake doesn’t cure the wrinkles this test induces, you know the slacks will look terrible after a day of sitting and moving around the office.
2. Ditto dress shirts, blouses and skirts, except that they don’t need to hold a crease.
3. Test tops for appropriate modesty levels by hunching your shoulders and leaning forward as if you were scribbling notes or trying to see a monitor at an awkward angle at someone else’s desk.  You can probably trust your judgment about how much skin is okay when you’re using normal upright posture, but it’s hard to gauge what inappropriate gaping might occur unless you actually try it.

Be Proactive

Something not going so well? Whether it’s general professionalism (i.e.: chronically arriving at 9:15 when everyone is supposed to be in at 9:00) or specific job performance (i.e.: too much confidence in your own interpretation of technical guidance), be the first person to address it.  Figure out who (besides you) cares the most that you are not getting it right.  Bring it up with them one-on-one and ask for guidance.  Lay it out for them, including your best guess at the underlying reason for your behavior.  To have this one-on-one (from best to worst):

1. Drop in on their office at a time when they are not at their maximum stress level (avoid deadline weeks)
2. If they don’t have an office, send them a vague, short meeting request for a location that is convenient but discreet enough that you can have a frank conversation.  Ideas for titles: “Need 10 min. reality check” or “10 minutes for some career advice?”
3. Put a handwritten note in their mailbox.  You probably have some suitable stationery for this leftover from when you were writing interview thank you notes.
4. Email them.

Why not call, you ask? If they’re going to answer their phone, you might as well go with the drop in office visit.  If they’re not, you end up on their voicemail.  Most professionals have some sort of system for triaging their mail and email to separate things that need a thoughtful response soon-ish from things that will only take 30 seconds to deal with.  You want to end up in the thoughtful pile.  Few have a good system (other than sticky notes or a phone log) for triaging voicemail. Do you really want a “Discuss tardiness with [Your Name Here]” memo sitting on someone’s desk?

Super important: follow the advice.  If your performance issue persists, follow-up with the person and ask for help troubleshooting the root issue.  The whole point of being proactive about the negative is to turn a niggling issue on its way to becoming a career liability into an asset.

For accounting majors, the next chapter contains some certainties – landing a job (there are plenty out there), taking and passing the CPA exam, and getting licensed.  But there is also uncertainty – where will that job be?  How long will it take me to pass the exam?  Where do I want to get licensed?

To help you with those uncertainties and any other questions regarding your new found profession, don’t overlook your professors as the valuable resource that they are (and have been throughout your academic travels).  Your professors, for the most part, have “been there”.  Most of us have been licensed as CPAs for some part of our adult lives, which means we also worked in public accounting and perhaps in another accounting capacity along the way.  We have been faced with the same certainties and uncertainties that you now face – we would love to sit down with you and help you work through these choices.

Additionally, remember we’re here for you long after you “commence”.  We love to hear from our students, to get an update on their lives, and perhaps even be of assistance again at the time of a job change.  I realize that social media allows us to keep in touch much easier than before, but a phone call or personal email every once in a while is nice too.

My experience is that accounting program graduates are extremely loyal to their classmates and their program.  This loyalty manifests itself through various connections with their program – recruiting events, alumni events (UO Accounting Alumni Network, Portland, July 26, 2012 at the White Stag), and financial support.

Please stay connected as you go out in the world.  If you’re already out in the world, never too late to reconnect.  Please reach back to your accounting program and see how you can help OR how it can help you.