CPA - Will the experience reviewing the financial statements of the public Cos. count

CFA Level III
#1

I have read the new guidelines on the CFA Inst. website as well as read couple of threads on the work experience. I wanted to see if someone else is in the same boat and have something to share. I am CPA and have my work experience in reviewing the financials of the public listed Cos. IMO, it does add value to investment management field since the analysts look at the financial statements for their research. Can someone let me know if its valid work experience? The website has Accountant and Auditor as sample job titles. Thnx.

#2

I guess it depends upon the industry and the types of transactions that your client is doing. If your client is in the financial services industry or a diversified group with a separate treasury department that uses financial intruments such as derivatives then it would qualify as a required experience of the CFAI.

#3

In my case, my experience has more been with technology clients who don’t use derivatives. Their investment portfolio will include mostly cash and cash equivalent securities.

#4

Well I guess it’s best to try to get some more experience and exposure to financial services clients or maybe change jobs…

#5

If you do Pensions in the summer you should be fine. Its all in how you make it sound, and of course getting another CFA to sign off on it.

#6

Thanks for the comments, appreciated. I will actually be looking for a sponsor and i think will have to take some help from the local society as I don’t knw any of the CFAs. I am looking to change jobs/look for the experience that will count for the work ex. but with the markets really slow, chances of something hitting quick is slow. Any suggestions on what are employers looking for accounting background guys (PEs/VCs ?) Thnx.

#7

An MBA is your ticket to Inv Banking/VC/PE depending on the school you go to and make sure you get it done before you turn 30. Your chances of breaking into Inv banking with no prior relevant experience are very slim without an MBA from a top 10- top 15 school. With just accntng background, you may be able to find a back office job in PE/VC, but it may not get you the experience you need (I would check with CFAI).

#8

With Acctg background, u might get into equity research if the market is good. don’t thing acctg background will be accounted for working experience… Agreed~~~ you can do acctg for PE/VC. The idea of acctg is book-keeping. PE/VC is more value analysis. they need ppl with business sense over ur acctg or even finance background, unless u can justify urself with that strength…