One of the most overlooked benefits of attending a large, prestigious school like the University of Texas is the abundance of interesting events available to students. So even though I’ve spent most of this semester hiding from the world and studying for my CPA exams, I couldn’t pass up the chance to see one of my favorite authors, Jodi Picoult, speak at the LBJ Library as part of the Middleton Lecture series. You might know her from some of her older books, such as My Sister’s Keeper and Nineteen Minutes, but she was here last week to discuss her new New York Times bestseller, The Storyteller; a hauntingly descriptive story of Holocaust survivors and the legacy they left behind.
In addition to convincing me that I needed to put aside my studying and immediately read her new novel (hey – who doesn’t need a break now and then anyway?), Picoult also shared some thoughts on more widely applicable topics such as the publishing industry, equality issues for women writers, and work-life balance.
Although I was, of course, intrigued by her discussion of the business side of self-publishing, the emergence of e-book sales, and the various issues related to piracy (you can see the entire discussion here), I think her most interesting topic of the night was the depth of research that goes into each book she writes. Beyond the research of historical or scientific facts, she discussed the care she takes to build relationships with people and diligently take in their opinions, thoughts, and stories.
It just goes to show that no matter how successful you become or how technically proficient you are at your job, the ability to connect with people and take the time to find the value of what they have to offer can still be your most valuable skill.
I have yet another week at the client under my belt and I am still learning every day. The idea for this blog came to me after an intense conversation about the reality vs. entertainment value of the Kardashians empire. (I’m sure, considering the title of my blog series, you can tell that I am a fan.) After working for four weeks, I wanted to take the time to dispel some of the rumors that I heard about interning; a “fact vs. fiction” piece, if you will. I understand my intern experience is unique to me; however I still believe that this is applicable to those of you who will be interning in the future.
RUMOR 1: “You will work on one client the whole time and only on cash.”
REALITY: FACT/FICTION. This was something that I consistently heard spoken with a negative connotation as I went through recruiting. Although I wasn’t even 100% sure what it meant, I was convinced that it was definitely something I didn’t want. However, I have been on the same client for four weeks now, and I have loved every minute of it. Being on one client for so long has allowed me to get comfortable with the client and with my team. I understand the work that is being done and my team has been able to give me projects that allow me to see a large piece of the audit and even build on my previous work. If I was switching around clients, I doubt I would have this luxury. As far as the ‘working on only cash’ piece of this rumor is concerned, that certainly hasn’t been the case for me, and even the projects that I have done that relate to cash have all been so different and each one was a brand new learning experience. I guess I can’t say this rumor is completely fact or completely fiction, but I do want to dispel the negative connotation that accompanies the idea of working on a client, or within a specific area of the audit, for an extended period of time.
RUMOR 2: “You will work CRAZY long hours.”
REALITY: FACT. After talking with my friends who are also interning right now, we have all been on slightly different schedules, but overall, you shouldn’t expect to leave work at 5:30 every day. We are lucky enough to intern during busy season, the time of the year where there is the most work to be done, and this means we will be working a lot. This being said, the day will fly by – at least it has for me. I have left work anywhere from 8:30-11:30PM but even my longest days haven’t dragged on in the slightest. The great thing about there being a lot of work to be done is that you will constantly be busy; no sitting around waiting for something to do.
RUMOR 3: “Clients HATE auditors.”
REALITY: FICTION. As a person who likes to be liked (don’t we all?) this particular rumor really made me nervous. I have had quite a few interactions with the client thus far and I can’t say all of them have been 100% pleasant, but there has never been a time where I felt personally victimized by the client. Even though being audited is a government requirement for accounting firms’ clients, the clients still do appreciate the work we are doing.
These are three rumors I can almost guarantee that you will hear before embarking on your internship and I hope that my experience can help you to understand them a little bit more.
Happy interning to my fellow interns and happy studying to those of you taking classes!
In the name of full disclosure, I have an obsession with Facebook. Not with posting statuses and pictures and monitoring my news feed (although I waste plenty of time on that as well), but with the company itself; its business model, and, of course, its fascinating CEO. I get excited every time a new article about Facebook pops up in the paper or in Fortune (which at the student rate, is probably one of the best splurges I’ve made in college), and I spent weeks monitoring the the stock price after the IPO – y’know, just for kicks.
So naturally, I also have an obsession with the not-so-official movie, The Social Network. My favorite part of watching this movie is picking through the drama and finding the concepts and lessons that do or don’t match up with what I’ve learned at McCombs – which leads me to…
3 Lessons from The Social Network that McCombs Taught Me Better
1. The value of a good idea – Although the value of the site certainly came from the coding and developing, the Facebook we know and love today wouldn’t have been possible without the “ wouldn’t-it-be-cool-if” idea that started it all. Beyond business law discussions about the legal implications of intellectual property and the accounting concepts of intangibles and R&D, McCombs professors have always been quick to point out that not all valuable assets show up on the balance sheet. You often have to look past the financial statements to see a company’s potential.
2. Persistence pays off – Admittedly, in the movie, the development phase of the website didn’t get a lot of screen time, but that’s definitely not to say that it was trivial. What does show up in the movie is the never-ending coding and updates and the refusal to settle on “good enough” when improvements can still be made. From classes, to recruiting, to informal conversations with professors, these themes have been drilled into my brain from the moment I set foot in McCombs.
3. It’s not all about the money – Although some might disagree that this was really the point of the movie, the social, legal, and ethical consequences of money-driven actions were undeniably pervasive in The Social Network. One of the greatest things about McCombs, and the MPA program in particular, is the constant discussion of ethical implications in business decisions. We hear it again and again in business law, the accounting lyceum, and inevitably in almost every course. Money is what makes the business world run, but it’s not the only thing to consider.
Accelerated classes can sometimes feel like learning in hyperspeed
Integrated students in the MPA program have an interesting spring semester during their 4th year. For most students, the semester is made up of a combination of a public accounting internship and accelerated classes. My fellow bloggers Jamal and Melissa have been telling their exotic tales of life as an audit intern, because their semester starts with an internship, and they will eventually come back to take their accelerated classes. Tax students, however, start their semester with accelerated classes and then move onto their internship. This means that my fellow 4th year tax iMPAs have been lost in textbooks while our audit friends are getting a taste of the real world.
My fellow tax MPAs and I had to start school on January 2nd. I can’t speak for everyone that was taking the tax accelerated classes, but it was a struggle coming back from a very short winter break and having to sit in 5 hours of lecture for three days straight. The first day back got even harder when in our corporate tax class, Professor Zvinakis announced “The best way to describe the workload in this class is… stunning.” She did ease the burden of the first day back by having Tiff’s Treats, but boy, she was in no way lying about the workload of her class.
I don’t think I have ever had to work so hard to stay afloat in an MPA course. The frequent homeworks, reading assignments, projects, and tests were mentally and physically taxing (pun completely intended). That being said, I have never learned so much in such a short period of time, and it was kind of nice to just completely immerse myself into a new subject. I also I feel I got a lot of hands on experience by being challenged to conduct frequent tax research and complete an expansive tax return for a corporation.
I also really appreciated the class because I feel Professor Zvinakis went above and beyond the call of duty to help us understand the material in a short period of time. First of all, she hosted review sessions that provided us with additional hands on practice of the concepts we were learning in class, despite the fact that she taught for five hours previously. I mean, I’m sure we have MPA faculty that love tax with every fiber of their being, but 6 hours of teaching tax has to be… taxing (sorry guys, I couldn’t resist. The pun ends here, I promise). On top of the additional optional review sessions, there were ample opportunities to ask questions in office hours each day Monday through Thursday.
On a more personal note, I really enjoyed this class because this is the first time in a long time my learning style has been addressed in an accounting class room. What I mean by that is that I have always been very much a big picture person and have had a hard time processing small details (which is just dandy in tax…. Believe me, I have tried to convince myself to pursue something else, yet tax simply fascinates me). But Professor Zvinakis not only taught the little details of corporate tax law, but also connected provisions to current tax policy, and clearly illustrated how certain little details can make huge economic effects. Tax policy and its effects on the economy is the main reason I am truly fascinated by tax, and what drove my decision to become a tax-track MPA. All the work I was did to process the finesse of corporate tax law helped me understand the reasons that led to certain economic effects and I found it to be reassuring and rewarding.
All in all, it was a fantastic experience, but I am so glad to be done!
Did everyone have a happy Super Bowl weekend? (Or happy Beyonce weekend to those of you whose interests align more with mine.) Beyonce has been very popular in entertainment news recently with the lip syncing controversy and as headliner for the Super Bowl halftime show. I thought I would take some time to share some of my favorite (and applicable) lessons we, as MPA students, can learn from Beyonce.
1. No one can tell you that you can’t succeed. One of my favorite quotes is, “If you hear a voice within you say ‘you cannot paint,’ then by all means paint, and that voice will be silenced.” – Van Gogh. I think this quote can be extended as a solution to any voice you hear that tells you that you cannot succeed. As students at the University of Texas, members of the MPA program, and even interns in the field, there will always been someone who does not believe we can succeed. (Even if it is ourselves.) Looking at the Beyonce lip-syncing controversy, when she was criticized for her inaugural performance, she retaliated by singing the National Anthem at the start of the Super Bowl Press Conference. As you go through school and our internships, you have to remember that no one can tell you that you can’t succeed. And when they do, because they will, then prove them wrong.
2. “You know it costs to be the boss. One day you’ll run the town.” I have always found this lyric of Beyonce’s to be particularly interesting but I find it more applicable as I get further into my education. Classes can be overwhelming sometimes and I know I am not the only one who has dramatically questioned if it is all worth it. As we go through intense classes and now a busy-season internship, we must keep in mind that these are all steps towards our goals. We may have some struggles along the way, but one day we’ll run the town. (and according to B, us girls will run the world.)
3. Image is important. Before I became a business student, I didn’t own a suit, and I had maybe one or two business casual outfits. Throughout recruiting and now during my internship, I am learning how important it is to ‘dress to impress.’ How you dress is often the first impression that others have about you. Although it is key to act professionally, you will not be taken seriously if you are not also dressed with professionalism. (Beyonce certainly always dresses to impress.)
Beyonce’s driven personality and inspiring songs are great sources for inspiration as we continue along our educational paths and soon into our careers. Who do you look to for life lessons and what lessons have stuck with you?
One of the most overlooked benefits of attending a large, prestigious school like the University of Texas is the abundance of interesting events available to students. So even though I’ve spent most of this semester hiding from the world and studying for my CPA exams, I couldn’t pass up the chance to see one of my favorite authors, Jodi Picoult, speak at the LBJ Library as part of the Middleton Lecture series. You might know her from some of her older books, such as My Sister’s Keeper and Nineteen Minutes, but she was here last week to discuss her new New York Times bestseller, The Storyteller; a hauntingly descriptive story of Holocaust survivors and the legacy they left behind.
