Hangovers

There Are a Lot of Hungover, Newly Chartered Accountants in Canada Today

We like to cover the international scene as much as we can but it can be tough sometimes when NO ONE EMAILS US. If you’ve got some from north or the border, south of the equator or across an ocean, simply email us at tips@goingconcern.com and we’ll spice things up around here with some international flair.

I only bring it up because this morning a Canadian reader informed us that today is a big day up north.

I’ve noticed the content on GC is nearly entirely CPA-focused, even though there’s plenty of readers from north of the border! I realise this is likely partially due to the fact that Canadian readers aren’t helping contribute enough. In an effort to help spread the love, I provide the following:

As a bit of background to our system, Canadian Chartered Accountants (CAs) must pass a single national final exam called the Uniform Evaluation (UFE). The UFE is a three-day national exam held once a year in September. The results are then released nearly three months later, usually on the first Friday of December (today!). It’s generally tradition for all the writers (and those that support them) to head out to the bar the night before to help ease the anxiety of checking the results in the morning, which leads to a lot of cheerful new CAs with hangovers today. This tough day of work at my firm (and many others) consists of champagne breakfast with colleagues, lunch with the partners and the office heading back to the bar by 3pm.

Congratulations to all the new CAs!

Scores are officially released at 12 pm so if you’re waiting to enjoy some Mimosas until you get the official word, that’s your choice but either way, you can use this post as a thread for your pre-noon-newly-minted-CA-partying purposes.

Three Remedies for the Busy Season Hangover

Greetings, red-eyed accountants. I hope those of you who celebrated yesterday’s sign-off didn’t drink the local watering holes dry last night. The markets are closed tomorrow, so hit the town again tonight and find yourself a Wall-Streeter (or is it a midtowner now?) to shack up with!

Who am I kidding? You’re probably going to sleep like babies for the first time in months.

Regardless of how you spend your first few days of re-born freedom, you need to be sure not to get caught up in the whirlwind slow season.


These short drops in production need to be stretched to maximum gain. Here’s are few ways to make the most of your slow hours:

Cash in that vacation time – One of the (few) perks of a public accounting gig is the incredible amount of personal time. Five to six weeks of vacay is simply unheard of in the private sector (three weeks are standard issue). So why not do something with your time? Sign up for the mass emails from travel sites and pick a random location to cash in those hotel points that have accumulated over the last three busy seasons.

One GC reader told me, “I’m going to Bermuda in a few weeks. Why? Because JetBlue had a special, I’ve never been, and I’ll be damned if I lose out of my vacation time.” FWIW, many of the airlines are running specials now for flights in the next few months. Pick a random location and get the hell out.

Recharge your batteries and your resume – Pick a Friday or Monday in the coming weeks and call in sick. Book yourself a day of relaxation; hit the spa, the golf course, or work on that rusty ‘72 Chevy taking up room in the garage. Whatever you do, keep the Blackberry on your nightstand and spend your day away from the office. After a day of mental relaxation, pick up your resume and make your time in public start working for you.

Shop around for new work – So you want to work at a hedge fund but are currently auditing depositories – what the hell are you wasting your time for? Now is the time to talk to your mentors and work with staffing to really push your accounting career in the direction of an industry that interests you. Volunteer to do clean up work on a client that is decimated by team members taking vacation. Do what you need to do to begin getting the exposure to work that is relevant to your career aspirations.

For those of you done with busy season, have a drink and enjoy your weekend, but don’t forget about your comrades with 4/15 deadlines. The end – after all – is near.