Wednesday, January 19, 2011

Bouncing Back from a Bad Interview

As much as you prepare, research, and rehearse, sometimes you just can't avoid a bad interview. I once got lost going to an interview, arrived over an hour late, then spilled my lunch all over me when my host took me to the company cafeteria. I left the place feeling like a dog with my tail between my legs. Needless to say, I didn't get a job offer. Sometimes the interviewee just seems to have it out for you. I had another interview with an accounting firm that seemed almost hostile toward me. I found it strange they would invite me for an interview as though there was some interest in me as a job candidate, when the interviewer was checking his watch incessantly, talking about how important he was to the firm, and allowing little time for me to respond to his questions or ask questions back. He then brought in a partner to tag-team me, making the interview feel like an inquisition. Despite leaving with the feeling that I would never get a call back, I was invited for a second interview and eventually received a job offer from the firm. Given the less-than-welcoming attitude of the firm's employees, it was an easy decision for me to decline their offer.

Whether you are having a bad day or your interviewer seems to have woken up on the wrong side of the bed themselves, we've all experienced interviews where we left feeling beaten up and inadequate. One rough interview can be damaging to your psyche, particularly if you have an entire week or season of interviews lined up. In bouncing back from these negative experiences, it's important to remember that you always have a second chance. Don't assume that one awful interview performance with a particular company will show itself in subsequent interviews with other organizations. Fortunately, your next potential employer has no idea you had a bad previous week and completely flopped with another interviewer. Treat each and every interview as a clean slate.

As painful as it can be, you need to review your mistakes as objectively as possible in order to work on areas of improvement. If you feel you performed badly in your last interview because you hadn't prepared any questions, or failed to conduct sufficient research about the company you were interviewing with, be sure to go above and beyond in these areas next time. The first example I mentioned above taught me that being logistically prepared for an interview is just as important as being mentally and technically prepared. After that experience, I always ensured I knew how to get where I needed to be, that I had the appropriate attire, and that I allowed more than sufficient time to arrive. By putting my best foot forward from the moment of arrival, my clumsiness disappeared as well (meaning no more lunch mishaps).

Even if you do have a bad interview with your dream employer, don't sell yourself short and assume you are out. Some mistakes can be overlooked. As an auditor, I once hosted a group of interviewees and found many of them to fumble through the initial icebreaker and meet-and-greet session. It seems nerves had gotten the better of most of them. But as the day of interviews, lunch, and panel discussions progressed, they all seemed to increase in confidence and competence. The group turned out to be one of our most impressive recruiting classes in several years.

If and when you have an interview experience that leaves you cringing, just remember that you start anew each time you go into an interview with a new organization, that every negative experience is a learning opportunity, and that you still have a chance to turn things around.

Monday, January 10, 2011

2011 Changes to the CPA Exam

The Journal of Accountancy recently posted a video discussing the changes to the Uniform CPA Exam which took effect on January 1, 2011. In the video, Colleen Conrad, CPA, the Immediate Past Chair of the AICPA Board of Examiners highlights the fact that the CPA exam is designed to test the knowledge required of an entry level CPA. Upon surveying CPA firms, the AICPA Board of Examiners found that the expectations of entry level CPAs in the field has been quite dynamic over the past year, and therefore the 2011 exam will reflect these changes.

The format of the exam will shift from a large simulation at the conclusion of 3 of the 4 sections, to multiple smaller simulations. This is intended to expedite the grading process, however, Ms. Conrad notes that faster grading will likely not take effect until the later part of the year.

The BEC section of the exam will now include essays, which means that the essays on the other 3 sections will be removed. This change will add 30 additional minutes to the BEC section and reduce the Audit section by 30 minutes.

CPA firms surveyed by the Board of Examiners reported that entry level CPAs are increasingly required to be familiar with IFRS. Therefore, general IFRS questions have been added to the exam. Because IFRS is not yet readily used by all US firms, the questions will not require candidates to have intricate knowledge of concepts, merely familiarity with certain topics.

It is highly recommended that exam candidates take advantage of the practice examinations available at www.cpa-exam.org, in order to familiarize themselves with the format and resources of the exam. In 2011, there are new calculator and research functions that test takers should be comfortable navigating in preparation for the exam.