JMT21 - what's your story? You seem pretty damn knowledgeable. Are you a CPA or a practicing accountant? Have you figured out a way to blend this with aviation?
Sarbanes Oxley is "above" me. I do not mean to say I haven't studied it or cannot figure it out. But rather, I have no desire to work with Fortune 500 companies and their SEC filings.
I am a simple man and live in a simple world.
My goal is to start my own "mom and pop" tax/consulting business in 4 or 5 years. Like an airline pilot, I am going to have to pay my dues at a firm for a few years to build up my knowledge so that I can become more and more autonomous with the material. When I am done with the CPA, I am going to submit my resume to the smaller firms in the area (2-5 partners). I see the experience to be gained in this smaller, more informal area, to be more analogous to where I want to go in the profession.
I can see myself opening my own business, ramping it up to the black over a year or two, and growing it just large enough to turn 6 figures or so, then just maintain that.
Key to my decision to embark upon this journey is the knowledge that this IS where I will end up. Unlike aviation, when I do it and how I do it, are entirely up to me. And it can be done. Starting a CPA business isn't that difficult because it is a service based business. Knowing the subject followed by aggressive marketing is all it takes.
Sitting at a desk working for someone else on someone else's terms does not interest me in the slightest. In fact, if I knew that this road was leading me into this rut where all I could expect is to work for a firm under the thumb of someone else, I'd stick it out in the airlines.
My entire family are entrepreneurs. My bro is a professional blogger, father owns an architectural business, mother owns a childcare center, uncle is a storage provider and buys/sells boats, father in law owns a dirt pit, etc. I am no stranger to witnessing what goes into running a business.
If I am in control, my financial success is directly proportional to the work I do rather than my annual review, if I can vacation when I want without having it "approved", etc, then I am completely willing to work the required hours to run the business.
I am 27 years old, I've got the next 45 years of my working life to mold it into what I want it to be and come hell or high water, I will achieve my vision.
Some out there will offer advice that it is too hard and not worth it, but I have succeeded at too many things after having received "advice" that it couldn't or shouldn't be done.
There are those out there who want to be big shots, wear their pressed suits, drive their fancy cars and work for the big firm. I am not that guy. I will drive my Jeep, wear blue jeans, and focus on providing services to the "middle class", as Obama would call it and I expect to do just fine.
There is room for everybody. It is human nature to make the rules more and more complicated over time. College textbooks are thicker than they used to be, as is the FAR/AIM, etc. And the tax code, filing requirements on Govt/NP companies, etc will continue to get thicker ensuring work for the profession.
Also, for me, the CPA is also just a noble game to play right now. I am aware that it gives no extra privileges besides signing off on an attestation. But, to the lay eye, an accountant = a CPA. In order to market myself as laid out, I'd love to put those letters behind my name. Might get me more phone calls and hence more business.
As an alternative road, I can also see myself getting the CPA done, the airline business starts booming again, going back to a better regional (or even directly into a corporate gig, I have nearly 2,000 hours and over 1,000 ME/turbine), going through the right seat again, upgrading to get the PIC time, then looking to get a position where I can not only fly some of the time, but support many of the business functions as well. A pilot with experience AND a knowledgeable CPA in one person could prove to be a powerful combination in the corporate aviation world.
All options are on the table.