Wow, its been 3 months since I posted anything on PA. Life has been sort of interesting lately. Finding a job has proven more difficult than I thought it would be at the onset of this CPA journey. I have sent resumes to about every firm in the area. Most have not replied and some have. Those who did reply merely stated that they aren’t hiring at present and that they’ll keep my resume on file.

I am talking to a local recruiter and have been advised that hiring should pick up in the fall. My financial ducks are all in a row, so there is no immediate pressure. However, my next big life step is to get a job so that I can chip away at the one year of work experience I need to wrap up official CPA licensure. BTW, I found out about 5 weeks ago that my previous 18 months of public accounting employment will not satisfy the work experience requirement required by the state of Florida because it occurred BEFORE such time as I became eligible to sit for the CPA exam. The experience must occur AFTER eligibility is established. After an afternoon down in the dumps about this extra runway extension, I realized the only way through is through – no sense in being upset about it. That being said, until I begin day #1 of the 12 month period of this work experience, I am basically wasting time. Luckily, I have until 2013 to get the 1 year of experience. However, every month that I spend doing SOMETHING ELSE, is just more and more delay in getting this CPA journey DONE and into the history books.

All that being said, I feel a bit off course at times. Sometimes I wake up in the morning with my wife at work and feel very sub par as a husband. I am supposed to be the bread winner around here. Being a man has certain roles associated with it. However, this job market is definitely a tough one right now. I am well qualified in two different fields and am struggling to find a job in either. However, this is a game of patience and perseverance. Something will come along soon and I’ll be back on track professionally before too long. This airline flying diversion was a journey I needed to take, but was not without its costs. I still don’t regret a second of it. Life is a journey and I am doing my best to enjoy the ride.

I am fortunate to be making some money as a flight instructor. I’m making a few bills per week doing it and it is giving me something to do, giving me some sense of accomplishment at the end of the day, and otherwise gives my day some purpose during this interim period. I feel pretty confident that I can stay fairly busy with it and bring in some Benjamins doing it until the late summer. Beyond that – well, I’m hoping for a segway into something better by then. I’ll cross that bridge when I get there.

However, I am kicking ass in an area that has become very important to me lately. That area is weight training and physical fitness. I came into contact with a guy – long story short – who later turned into a flight student for me, but also is a personal trainer. He’s been working with me for the last six months giving me guidance and motivation along this journey while he receives flight training (from me) here in the states. During the first four months, his guidance was in the form of e-mails, skype calls, and critiques of my workouts over the internet. My workouts were at home using personally owned dumbbells and barbells. However, the last two months while we’ve been flight training, I’ve had the pleasure to have his personal one on one instruction in the gym – with ALL the right equipment. He is scheduled to head back home in the latter part of October, so I’ve got another four months to benefit from his personal training. Beyond that, it’ll revert back to e-mails and internet based help again. However, the benefit of these last two months and the four to come will undoubtedly prove to be the foundation upon which I continue to build towards my goals long after I’m on my own again.

I’ve gone six months now and haven’t skipped a single workout. I’ve done a minimum of 3 per week since December and have recently increased to 4 per week along with some minor at home bodyweight training and running. I’m eating like a horse and have seen definite increase in muscle. I’m currently at the heaviest weight I’ve ever been at, about 223lb, but about the lowest fat percentage I’ve been at in a long time. I’m gaining about a pound a month in muscle mass it seems – perhaps slightly under that figure.

Its been said that the pyramids weren’t built in a day. One stone at a time, over lots of time, will result in the final product. I’m enjoying the journey so far, am motivated by good results, and find that my overall happiness level has increased.

More than anything, though, reaching a level of muscular development worthy of satisfaction (perhaps a moving target) requires an incredible degree of internal motivation. It extends much further than the exit door of the local gym. Its nearly a 24 hour endeavor – from eating the right foods at the the right volume, the exercising itself, to achieving proper rest, meal planning (packing enough healthy snacks when on the go, etc), proper hydration, and more. It takes significantly more than a dilettante effort, and I have come to appreciate this to a greater degree these last several months.

The human body can be a beautiful thing. My point is not to become so vein that my physical appearance rules the majority of my attention and I’m not even saying that I can ever be a “10″. However, everyone appreciates a good looking body and I’ve committed to a lifelong goal to continue to reach towards this asymptotic goal of physical fitness. Its a game as worthy as any other. So, I’ll log this down as yet another one of my many life goals and games.

Its been said that the greatest purpose out there is the creation of an effect. The eventual satisfaction in sitting back and gloating, “Yeah, I did that” is perhaps our greatest motivation as beings. Mix in some weight training with this concept you can see the effect unfold slowly before your eyes.

My trainer and I have become good friends. He knows all about my situation with flying and accounting and job hunting, etc. We have a little joke between us that when all hell breaks loose, you fail at something, or otherwise fall short of a goal – “at least you looked good doing it!”

I avoided posting anything about this goal until now. Any given resolutioner can sit down at the computer and commit to a new lifestyle on day #1. However, I’ve got six months of credibility behind me now and my resolve is stronger now than it was on day #1. I am 100% confident that I can make one hell of a positive effect on this body.

I’ve recently (last 6 months) gotten back into flying RC again. It is certainly not a substitute for flying what are called “full scale” (i.e. real) airplanes. But, it is strangely satisfying to build a flying machine of any size that can sustain flight. Some might call them toys, but these are far from merely a simulation of flight. The exact same physics that allow a “real” airplane to fly allow an RC airplane to fly. To me, its about being able to harness just a little bit of the magic of flight in a portable size that can be tossed into the trunk of a car.

Here are a few pics of my RC area at home.

Under the tables are full of stuff too! That long box on the left is my next project. It is an older Carl Goldberg Chipmunk kit that a friend of mine gave me many years ago. It is designed for a gas motor, but I am going to build it to be electric.

This airplane has turned into my favorite of the three. It is electric powered, which makes operating and cleaning up a breeze!

I just finished building this Piper Cub. This airplane is CURSED! I’ve never worked with a more frustrating airplane before. I should name it “Murphy”. I was going to maiden it (fly its first flight) yesterday, but it was too windy. I hope it flies well. If not, it was a success in having just triumphed over its difficulty. You can see it has no cowling. Its a long story.

The red airplane in the back was my first. It’s still my primary airplane, although I am gravitating towards the blue one on the wall these days. I built it from a kit, covered it, etc. To date, it has about 30-35 flights on it and runs great. The wing (not pictured) is 6 feet tall when standing on a wing tip. It flies like a dream and will climb like a homesick angel. I think it’ll out climb most single engine full size general aviation airplanes in terms of altitude gain per foot of ground distance. Its pretty insane how fast it’ll climb. And yes, its got more power than the book called for. That is just how I roll.

So there you go, one of my many hobbies.

After 13 months and 10 days, after 30 additional credit hours of classes, after nearly 2,600 pages of Gleim reading, some 7,200 practice questions, 126 simulations, and nine months of dedicated preparation for the various parts of this exam, I am inside of 24 hours from taking the final section.

I’ve done everything I can do to prepare for this last section. I have applied the exact methods that have worked for the previous three sections. My weighted average on everything throughout my preparation for this section is roughly an 85. Based on empirical evidence taken from the previous three sections, in comparing my prep scores to the official posted scores, I am fairly confident that my official grade on this section will fall between an 87 and a 99. All I need is a 75 to pass.

I’ll know more tomorrow evening after I’ve actually taken the test. Historical information seems to indicate the official grades will post about the 20th of March or so, at which point, assuming a pass, I’ll just have an application packet to fill out and send into the state. I am hoping by mid summer to have an official certificate to hang on the wall.

Life is about to change gears. I’ve got a few things lined up I need to get done while I still have the advantage of not working full time. However, in the next several weeks, I will be jumping back onto the job market for the first time in a while. Needless to say, as cool as it has been to be able to experience the college life again, I’m done with it now and ready to make some coin again. Although finances are in pretty good shape considering I haven’t worked in 13 months, I do feel that I have some financial catching up to do.

Taking advantage of my airline job furlough to get this CPA done was the best decision that could have been made in the face of otherwise bad news. My wife and I are still pre-kids, she is gainfully employed, I lost my job (I likely wouldn’t have quit a good job to do this full time), the timing was good, and it all made sense.

We’ll see what the future holds for me going forth. But, one thing is for sure: It’s time to start DOING, instead of just preparing. I’m ready to roll up my sleeves and start playing a new game, because I’ve pretty much worn this one down to the nub.

Wish me luck! Catch you when I am a CPA (well, except for the requisite paperwork).

Most people these days have at least heard of Twitter, even if just in passing. For me, my use of Twitter originated from hearing my brother talk about it often. He runs an online business and uses Twitter as another extension to promote and be out there among the “Tweeps” as they are called – part of the new social media, Web 2.0 movement.

I eventually decided to set up an account, downloaded Tweetdeck and began tweeting every so often. As a guy who has spent the last thirteen months of his life in full time pursuit of the CPA license, I’ve spent a lot of time at my desk, buried in books. It soon became standard operating procedure to run Tweetdeck in the background, watching various topics of interest, mainly just to keep connected with the world while I studied the day away in my 12×12 office.

A few weeks ago, I saw a tweet about the opportunity to register for a Tweetup happening at the Goddard Space Flight Center in MD. Honestly, I thought my chances were slim, but I went ahead and registered anyway. In the end, I got selected to go to the Kennedy Space Center instead and to observe the launch of the Solar Dynamics Observatory. Since I only live roughly two hours from the space center, this option was the easiest to accommodate.

I did have to move my latest CPA exam to make this work. In fact, had I not gone to this event, I’d be DONE right now. However, I am very glad that I went and regard the experience as one of the most unique experiences I’ve ever participated in.

I choose the word “unique” very carefully. I’ve done A LOT of cool things in my 28 years of life. I’ve witnessed some of the most breathtaking views you can imagine, many of them from airliner cockpits 37,000 feet above the Earth. I’ve done a good bit of traveling, having been to 47 of the contiguous 48 states – I’m still working on WA, HI, AK. Living in Florida, the launching of space missions has always been sort of a backyard activity. On any given launch day, I can merely walk out on my porch while streaming NASA TV on the laptop and see the launches with my own eyes. However, this opportunity provided something else…..the personal side.

Meeting so many of the people that had worked on this satellite for the last eight years, experiencing delay after delay, it was interesting to listen to their accounts of what it was like getting to this elusive launch day. “I cannot believe this day is finally here”, is a phrase I heard on many occasions. From my viewpoint, at least up until this augmentation of my appreciation for what goes into these missions, its just a rocket launch. However at T-0, I did see some tears on the faces of some of those around me as the Atlas V roared into the sky carrying their blood, sweat, and tears firmly secured in the nose. A similar feeling that I have personally experienced is the maiden flight of my first radio controlled airplane, that I personally built from a pile of sticks. After having invested blood, sweat, and tears and over 200 hours of manual work along with every novice frustration you can imagine, I did feel like a proud father when it lifted off the ground and flew for the first time.

The fact that technology has advanced to a point where a simple tweet can bring together twenty random people, who from the first minute act and feel like they’ve known each other for years is amazing. Its the human element of this experience that I will take away. A rocket launch is pretty cool, but its just a rocket launch – gone in a minute. However, the memories of the folks there, the common bonds that hold us together – love of technology, love of science, love of space, love of good times, and of course, Twitter – is the greatest take away.

When I was an airline pilot, I began my initial training class with thirty strangers, who eventually turned into friends. Those bonds lasted, some merely on an acquaintance level, for the entire duration of my time there. Since the job was based in St. Louis, my eventual return back home led to the inevitable disconnection, save for the occasional facebook comment. As the tides shifted for me and eventually saw me back in school and buried in books again, I’ve honestly had very little social interaction over the last thirteen months. My best friends, lately, have been my wife and dogs. Though life is about to kick up again now that I’m all but through this tunnel, this Tweetup rekindled my appreciation of just how awesome it is to have friends that you care about and common interests to share.

The world can be a lonely place at times, but friends make it worthwhile. I can honestly say that I made some good friends during this event and will admit a feeling of sweet sorrow as I had to drive back to my life three days after it all started.

The upside is that Twitter will continue the connection and the future might bring another opportunity to meet up. However, potential friends are all around us, every day. The fact that twenty random people can start out in a room on day #1 and end up with memories of one of the coolest experiences and with people that are truly friends at the end, is a testament to the potential for relationships out there in the world. The world is full of people and all it takes is the right ingredients at the right time to create something that, by most accounts, is one of the greatest things that this life can offer – friendship.

I am grateful for the opportunity to have been able to participate. I’ll hold the experience in a special place for a long time and look forward to the next opportunity to do a space Tweetup.

I’ll leave you with this. If you don’t get it, you weren’t there. For those who were, this is the the funniest thing EVER!!

Anyone who follows this blog knows that I left accounting to attempt a career as a professional pilot just about 3 years ago. I had decent luck at it, had a great time with it (by and large) and don’t regret the journey for a second. However, despite my innate doubt about whether I wanted to continue along that path or go back to a home city based job and work on another dream of running my own business in accounting someday, I was forced out of the position with a massive round of furloughs. Logistics dictated that it was in my best interest to resign from the airline instead of wait for the furlough (there is more on this in previous posts) so that I could hit the timing of the spring 2009 semester at my old college to begin CPA studies. I knew that the job market, especially with aviation, was going to be rocky so I needed to choose something that would not only benefit me down the road, but also something that was entirely under my control and not dependent on any stroke of luck (i.e. finding a good job in a down market doing something I cared about).

Fast forward 13 months now, and I am VERY close to finishing up this CPA cycle. The last year has been a good one for me because despite my professional development, raising of my income potential, etc, I was living a rooted life at home (not having to commute!!!), enjoying the freedom that comes with being outside the rat race, etc. My wife and I are very smart with our money and were smart enough to spend less than we made for many years and save during the time when we were both working. At the time of my layoff, assuming her unchanging income, we could have coasted for about 3 years without worrying too much about money – but that certainly wasn’t the plan, of course.

However, this CPA road was always finite in length and now that I have reached the end of the road, I am brainstorming on exactly where to go from here. In all honesty, the thought of going back to public accounting doesn’t sit well with me. I do seem to have a knack for it and am good at it, but my real love lies in aviation. Part of me feels that if I were to go back to accounting that I would be doing myself a disservice. On the other hand, lots of pilots talk about having a “backup plan” – this is undoubtedly my backup plan. So, perhaps finding a position as an accountant, even if just as a parking orbit type position, while I figure out my next professional step is in order.

I’ve considered applying to the FAA to be a safety inspector or something similar. I’ll certainly put in my application and see what happens. I wouldn’t even mind going into airplane sales or something similar. And honestly, I wouldn’t mind going back to the airlines if the right opportunity came. I’d even be a career CFI, but just cannot top more than about 25 to 30k doing it – just not enough!

What would I be doing if I didn’t have to do anything? I’d be flying something – either full scale or R/C airplanes. So the question is, considering the weight of the future, potential kids on the horizon, wife quitting work to stay home with them, etc, is it better to jump from aviation gig to aviation gig and ride the volatile waves that are a big part of the, frankly, over saturated aviation industry? Or is it better to cash in on this CPA and go crunch numbers behind a desk for a while – potentially long enough for me to learn enough of the ropes to eventually own my own business and be my own boss at it. Certainly that is a lot of work, but will closely mirror the feelings of this year – BUSY with accounting work, but outside the corporate rat race, and FOR ME! And I’ve honestly been happy over the last year working on this CPA – that does say something.

One road leads to me doing aviation-related stuff for a living, but ALWAYS on someone else’s terms in the capacity of an employee (most likely) and the other entails about 5 years of mind numbing boredom prepping tax returns on someone else’s term as an employee, until such time as I can quit, and start my own practice to build up. Its not so much the work of accounting that scares me, its the stereotypical “corporate America” 8-5 desk job, “soft music while you work”, fluorescent lights overhead while its a beautiful sunny day outside kind of stuff that I am afraid of.

Some people thrive in that environment. I’ve been a pilot for 12 years, and an aviation lover my whole life. I’ve flight instructed for 3 years, I’ve flown for an airline for almost 2, and have nearly 2,000 hours of flight time at the fairly young age of 28. The old phrase “some birds aren’t meant to be caged” comes to mind. But then again, I don’t want to be a sissy either and run away from anything resembling hard work.

Its a tough decision. In the end, life is a game. If I get too serious about how to handle logistics and take a less desirable road out, I might just find myself at 80 years old wishing it had all gone differently.

Both roads are noble in their own right. In this market, the accounting path certainly would be easier to get aboard. And, the aviation industry will always be a tough path full of ups and downs, mergers and acquisitions, airline politics, etc.

The question of flying isn’t a question. I’ll always fly, as much as I can as a CFI and with as much money as I can afford. But can I sit at a desk doing accounting for most of my time and only fly on the off times? The answer is yes, if I can strike a chord to where my efforts benefit ME and not the firm partners at my expense.

The light at the end of this CPA tunnel is right here at my finger tips now. I really need to expand my thought processes and work to come up with a long term professional plan. I’ve got some cool qualifications that can lead me into two separate noble career paths – one is fairly smooth, but BORING, and the other is rough and full of potholes, but “potentially” more fulfilling – even that I am not 100% sure of really (flying airliners is BORING too!).

Life gets pretty interesting sometimes. But, I’ll figure it out.

I typically write a beginning of the year post every year in order to outlay my general goals from above the forest before I dive into the trees to get it all done. I looked back on my post of last year – CLICK HERE TO READ IT – and am pleasantly surprised at my accomplishments.

I achieved #1. In fact, I finished three CPA exam sections instead of the two I had postulated. Additionally, all academic requirements are completed. Check.

I also achieved #2. I flew a total of 126 hours during 2009, which is quite satisfying considering my part time freelance CFI status, coupled with the slow economy.

I did fairly well with #3, though I did lay off the music aspect about the end of July. However, my priorities had realigned and even now I am not sure how much time I will have available towards this end. Music, as it stands, its not a particular goal for 2010 – though I intend to continue to play when I want to.

#4, not so much. However, I have been doing some serious running over the last several months and have been hitting the weights as well. So, as it stands, I am not horribly disappointed, but do have some more serious fitness goals for 2010 – keep reading.

In review, 2009 was a kickin’ year in terms of moving the football down the field. The greatest accomplishment BY FAR was the attainment of nearly 90% of my CPA credential. I am left with one last test to pass before I can apply for the license and move on with my life.

Enter 2010:

My goals for 2010 are as follows:

1. Study for and pass the AUD section of the CPA exam by 2/11/10, at which point this journey will come to a close after 13 months of a full time effort. Handle the appropriate paperwork to get my license and certificate hanging the wall. Add designation behind name.

2. I have a few goals regarding things I want to do within my church. I haven’t been as involved as I’d like to be lately and have three objective targets that I want to reach this year.

3. Find a good job again. I haven’t made significant money since I resigned from the airline at the end of 2008. All my effort was aimed at earning the CPA, which will be able to provide me greater income potential when the time is right. I believe that time is nearly upon me. My goal in accounting as it stands is to join up with a firm that is not only enjoyable to work with, but which will challenge me to advance professionally during the next several years. I need to blow some major dust off my existing practical knowledge and take up where I left off with getting a strong foothold into this field. This year will hopefully mark the beginning of a renewed professional journey that will pay dividends for many many years.

In the short term, I am excited about getting “largish” paychecks again. I’ve got a small student loan to pay off, bank accounts to replenish, and other things on the horizon that are going to require lots of money. I hope to make 2010 the foundation for a lucrative career to come.

4. The above items are the types of goals that will happen so long as I do what I am supposed to do and exercise reasonable discipline. However, this fourth goal is likely going to require the greatest conscious push in terms of doing something uncomfortable. It is going to require that I take the hard road out almost every time. It is going to come at the end of LOTS of sweat and emotional ups and downs.

This goal, simply stated, is an intermediate “bite size” goal by its very nature and that is to stick to a “rigorous” exercise routine for a period of 12 months, consisting of weight lifting, running, etc. As to exactly what I do, it will evolve and change over time as I learn and try new things. Suffice it to say that I have done much research lately and do have an objective plan that I am going to follow. However, that plan will evolve with knowledge gained.

I just turned 28 years old yesterday and figure that if I am going to get into the best shape of my life – not only for myself, but also to be a role model for my kids when they come (I hope to promote fitness and be a good example for them to make good choices in their lives) – and still be young enough to enjoy the fruits of my labor for a good period of time, I’d better get busy now.

I’ve been thinking lately about writing a blog post about what the CPA exam has taught me about “sticking to it”. Actually, there are several parallels between the CPA exam and attaining fitness goals. Both are long term efforts, large enough that any given day of accomplishment is merely a single grain of sand on the pile. Both take considerable discipline – I turned down multiple family events and other fun functions during the year in order to do the right thing and study. Both subjects are full of true and false data all over the internet that must be sifted through to find something that works. Both are full of companies that sell an intolerable picture of the subject matter only to state that their method will make it bearable and achieve results. Both are quite attainable after choosing a smart path based on sound logic and pressing through the noise (both internal and external) towards the end result.

There are other similarities as well, but these are the most pertinent. Any goal that is tough to achieve will have similarities to both of these things. As a soon to be CPA, I am going to have to fight to stay in good shape. Many CPAs are heavy and out of shape from the inherent sedentary nature of the job. I need to escape from that now and embark upon a different road while my body is still young and vibrant and quick to react to whatever I choose to do with it. Like attaining the CPA or any other goal, a solid lifestyle change in the direction of achieving better health will pay dividends for years to come. I will let go of this body (aka die) someday. However, I’ve just got too much I want to do before then. A little bit of time each week dedicated to the goal of increased health will afford me a high chance of being around for a good time to come.

5. Continue to fly. My flying goals are going to be largely a “rinse and repeat” type of thing. I just need to continue to network and provide good service. Peaks and lulls in the flying load are bound to happen, but I will continue to do my best to continue what I did in 2009.

6. I want to fly R/C airplanes more. And I want to try to finish that Chipmunk airplane that currently lies still in kit form in a box. This goal is simple enough.

7. I need to up my game as a husband. More on this topic is going to remain private.

Tomorrow is Monday, Jan 4th – the first day of the business year. Lots to do. Lets get started!!!

I’ll post more on this topic later and outline my plans for 2010. However, I am going to take this one moment to sort of smell the roses about what I have accomplished this year as regards my primary mission of earning my CPA.

This blog is full of posts about what series of events transpired to bring me to where I am today – which consists of both positive and negative points. However, the situation was that I entered 2009 unemployed with the objective of utilizing this opportunity to get the CPA certificate under my belt. The ominous task of re enrolling in school to then endure 30 credit hours of classes, several of them being grad level accounting courses, preparing for the difficult and lengthy CPA exam study process and ultimately passing it seemed a tough brick to swallow a year ago. However, through no fault of my own, I ended up without a job in a bleak economy which brought to light the ability to push “Pause” for a little bit and get this whole process completed before pushing “Play” again. I would have had to juggle multiple pins doing this any other way. However, the tunnel vision inherent in this approach was worth the opportunity cost of trying to do it another way.

Fast forward nearly 12 months, I have completed ALL classes required by the state for CPA certification and have scored A’s in every last one of them. Yes, I attained the Dean’s List for every semester this year.

Furthermore, I have triumphed over 3 of the toughest sections of the Uniform CPA Examination with scores of 97,97, and 90.

At this point, I am closing out calendar year 2009 in full sprint trying to cover as much ground as I can towards the goal of preparing for this last exam section (AUD) the first week of Feb.

After that, I will have reached my goal and will have done it in a way that will bring me pride in my performance. I didn’t just barely earn the credential – I made it my bitch, figuratively speaking.

I’m not one to celebrate until the fat lady sings, but I can assure you even now that the last section will come in with a similar score to these other three. I’ve learned enough about how this test works and how to prepare at this point, that I will work to ensure the result is on par.

I’ve attained some other great goals during the year, but I will save discussion of these points for a later post. I’ve got great things scheduled for 2010 and can’t wait to get started.

But, one more test remains for now….

Well after nearly a year and 30 credit hours later, I am taking my last final exam tonight for my Cost Accounting II class. Much of the stuff on this final I reviewed for when I prepared for the last CPA exam section (overlapping material), so I’ve actually put in very little dedicated study for this final. Plus, I need a 46% (F) on the final to secure a B in the class, though I will likely end up with an A.

I am about to go out of town for a short vacation to New York City and Maine to recharge my batteries and rediscover the meaning of life.

When I get back, my grade for the final I am about to take this evening should be posted, along with the the most recent CPA exam section I took. Assuming good news on both fronts, I’ll have one single test remaining to pass (AUD) before I am done with the CPA pursuit.

I’ve got a couple other personal goals to achieve immediately after the last test before I start holding out for a full time job again.

Money is surprisingly in good shape after not having worked for a year now. I am not collecting unemployment either. Revenue hasn’t been any higher than planned, I guess the real work has come from the expense side of the ledger – but we still haven’t noticed a marked drop of quality of life. We still eat out occasionally, vacation occasionally, don’t stress about gas consumption, etc.

I’m mentally done with this particular game of achieving this CPA. When I complete the final tonight, I’ll be happy the 5th year school work is done. One more push is required to wrap up this last CPA section, then I get to move on with my life plans – which is exciting. 2010 is going to be a pretty powerful year for me and I am stoked about making good things happen.

A very mild case…..

It is looking like today is the day that we are going to sell my wife’s old car. A potential buyer came and looked at it this last Sunday, left me a deposit in cash, we signed a bill of sale, and decided to wait until Thursday to transfer the title. In an effort to protect myself, I had decided not to let the car go until the title had been definitively transferred out of our name, before our very eyes.

In attempting to the sell the car, we came across some shady dealers who lied to us about being private buyers, but balked at the idea of transferring the title in person. The problem is that it costs a few hundred bucks to transfer titles now days. No dealer is going to want to shoulder that cost – so the objective was to keep it in our name while sitting on their lot to sell. This was not going to happen if I had control over it.

It appears that we’ve found a private buyer now and we are scheduled to meet at the tag agency in about 5 hours from now to make the transfer. The sale isn’t done until its done – but things are looking good right now.

This car, a 1995 Nissan Altima GXE, has been my wife’s car for just over 8 years. At the time she got it, she and I had only been dating for a handful of months. Fast forward to present time, and we’ve been married for over 4 years. As such, that car is intertwined throughout the multitude of events in our common memories.

It is an interesting trait of the mind that one gets sentimental about things. As much as I know analytically that this vehicle is nothing more than a collection of bolted together car parts and has no soul of its own, it does feel in an odd way like we’re losing a good friend. I find it more an interesting empirical observation that these feelings surface in the face of this objective reality. I think it is entirely a function of some mechanism of the mind to prevent/avoid loss. We’ve all incurred losses in our lives, loved ones, pets, etc. I believe there is something analogous to those, more realistic losses, in this more mild loss incident that causes the mind to sort of equate all loss events and to bring such sentimental feelings to the surface.

At any rate, the only thing constant in life is change. As great a vehicle as this Nissan has been, we’ve got another vehicle now that only has about 53,000 miles on it. We will make new memories (likely kids this time) in this new vehicle and will likely feel similar sentimental feelings when it comes time (and it will) to dispose of this one.

I guess in many ways, good or bad, these feelings are part of the human experience.

I remember when I sold my Jeep Cherokee – my first vehicle EVER – and I loved that Cherokee more than my wife did her car. I washed it all the time, did lots of mechanical work on it, etc. However, when I sold it, I honestly don’t remember the event as being too tough on me. I think I was over it within a couple hours. I had a new car at the time, and was looking forward to driving a vehicle that still possessed a marked degree of youth rather than my old one that was approaching 200,000 miles (though still in remarkable shape due to my hard work). Furthermore, my new car got twice the fuel mileage. As a college kid in the formation stages of building a life, this had its place.

Hopefully, the title transfer goes smoothly this afternoon, the buyer drives away and we never hear from him or the car again. As a piece of metal, I wish it good roads and good weather. However, unlike a person or a pet, placement into the best of homes isn’t of particular importance with a vehicle. So long as we get a reasonable price for its sale and get it out of our lives as a, now surplus machine, we’ve attained the best we can attain.

But, its still a mildly sad and melancholy event. One which we’ll be over within 24 hours I am sure.

UPDATE: We sold the car as planned. Now, a week later, we’re happy about it and consider ourselves lucky to have gotten rid of it fairly quickly. A lot of people are stuck with old cars they cannot sell right now.

I am sitting for the BEC section of the CPA exam tomorrow. This is my 3rd section after scoring 97’s on both REG and FAR. Comparing my preparation for this one to those others on which I did so well, I feel I am on par for a repeat performance. I’ve read 683 pages and have answered 1,710 MCQ for this section.

Tomorrow (11/30) is the last day of the last testing window for this year. Everybody who is looking to get one last section done is doing it tomorrow since December is not a testing month.

Once again, I used Gleim for my preparation. It seems to be a winning formula for me, so far. I’ve averaged an 88% on everything I’ve done with this section – this is compared to an 82% and an 84% respectively for REG and FAR.

All indications from here are that I’ll see success on the 16th or 17th of December when the official grade for this section will be released.

After seven weeks of studying, I am grasping for straws on what else to cover. Due to the breadth of material, there is always something that I can do, but I’ve lost all motivation at this point, which seems to indicate that I’ve covered all the bases and am prepared.

Test time is at 1:00pm tomorrow. I’ll be out by 3:30pm and on the way home and I plan on relaxing that evening and on Tuesday as well. After that, I need to hit the ground running to prep for my final exam in my cost accounting class which will be on the evening of the 10th – which will most likely mark the last college class/final exam that I ever take. There is always a chance that I’ll go back for a master’s degree, but that is not in the cards at all right now. If I never step foot into another college classroom as a student for the rest of my life, I wouldn’t be surprised. There is a touch of sweet sorrow about that, as my first day at this university was back in 2000 when I was 18 years old. A LOT has changed since then. Even though I took a hiatus from my college adventure to work, be a professional pilot, etc, I always sort of knew I’d be back at some point to get the CPA. I was right. But, this time, I have no plans to take my college education further. I honestly believe that it is time to DO SOMETHING with the credentials I have and feel that most things worth learning at this point lie outside of the classroom.

But, then again, maybe I will be back for an MBA or MAcc. Life sometimes presents opportunities that aren’t planned.

The morning following the final will come VERY quickly, because at 6:00am, I’ll be on an airplane headed to Maine, then back to Manhattan for the weekend of the 12th/13th – first time I’ve been into NYC. To go to NYC so close to Christmas is really a treat.

But for now, I’ve got to focus on getting this BEC test behind me. I’ve done everything I set out to do study wise and feel that am ready to perform well and pass it tomorrow.

I’ll post a report after the test at some point.

Wish me luck!

This has the potential to be quite unpopular amongst pilots. But, I’ve got some things I want to get off my chest – just hear me out.

Let me say, first off, that during my time as a first officer at Trans States Airlines, the highest I ever made was $25.46/hr (second year pay). An “hour” represents only the time from brake release (passengers loaded, door closed, etc) to brake set (end of flight, just before the door opens and people start standing up). Over the course of a 4 day trip, which actually takes 5 days for a commuter, the payable block time would average about 22 hours. Additionally, from the time I checked in for the trip on day #1 to the time I checked out at the end of day #4, I was making what is called a “per diem” that accrued at the rate of $1.40/hour. The average 4 day trip consisted of roughly 85 hours of per diem. Therefore, over the course of a 4 day trip (remember, actually 5 days, since I commuted), I could plan on making about $680.

Living out of a suitcase requires one to purchase meals at every turn. An average meal cost per day hovered around the $20-25 mark. Therefore, on average, after meals, I was netting about $580 to take home to pay the bills with, etc. Divide that by 5 days, yields about $116/day to fly an airliner as second in command – in other words, one heart attack away from being solely responsible for the lives of 53 people and a $20 million machine. Assuming an average workday of about 10 hours (fairly common day as a pilot – this is not flying time only, but total time on duty), the pay came out to be roughly $12/hour. As a commuter, I also spent $150/month on a crashpad, but I’ll leave this out for simplicity.

Is that amount of pay too low? The answer is yes, undoubtedly. First year pay does need to increase.

However, here is where I am going to digress:

When I finish my CPA license, I will likely end up with a job that pays roughly $40 – 45,000 a year. This is standard CPA beginning level pay for my area. As a CPA, when you consider tax season hours, you can assume a level of work averaging about 2,300 hours per year. This works out to about $18.50/hour, markedly better than a first year regional airline pilot.

The pilot is going to bring home about $30,000 during the first year, while the CPA brings in about $45,000.

The difference is that in the corporate world, the pay rates generally increase about 10% per year for the first few years – and that is a very generous estimate. In the regional airline pilot world, the pay generally jumps about 40% in the second year to roughly $32/hour. From there, assuming a first officer, pay will increase mildly each successive year. As such, apples to apples, a second year regional airline pilot will be making more pay per unit of time than a very highly educated CPA and will enjoy an average of 12-13 days off per month rather than the 8 enjoyed by the average corporate jockey. Total take home pay will be about $38 – $40,000 for the pilot and about $48 – $50,000 for the CPA. However, considering the time off differential, the actual pay per hour of work is quite similar, actually slightly in favor of the pilot.

Assuming a timely upgrade, a pilot can assume a pay increase of approximately 70% at this point. The average 3rd year CA pay is hovering around the $65/hour mark. Utilizing the same trip that I used in the previous example, a CA will bring in about $1,450 for that same trip – after the meal purchases. Assuming a 10 hour duty day, as I did before, over the course of the 4 day trip (plus a day for commuting), the pay will come in at about $30/hour. Total annual pay will be roughly $65,000/year. At this same point in professional development, the CPA, while enjoying the liberal 10% pay raises will be at roughly $55,000/year at this point. Assuming the 2,300 hour work week, this works out to be a whopping $23/hour. Thus, the CPA is being paid less and is working more by the third year.

Now, let us compare the two jobs side by side:

As a CPA, if you stop working, thinking, and typing….NOTHING gets done. In order to produce your valuable final product, you must WORK to achieve it. A bathroom break ceases all production until you squeeze it off and get back to your desk.

As a pilot, once in the air and at cruise, the airplane is doing all the work. Most pilots kick back and watch the clouds go by or pick up the latest copy of USA Today while handling the occasional center hand off.

There is a marked difference in the amount of work required between the two professions. Having been a professional pilot myself, I can attest to the fact that there are some flights where you fucking EARN your money!! However, most of the flights are boring and uneventful with the primary objective of merely being in the right place at the right time (i.e. on the airplane on time, paperwork done, push from the gate on time, etc). Also, remember that in the business world, raises are based on merit – you’ve got to EARN them by working really hard! A pilot is guaranteed the raise assuming he still has the job on each anniversary.

Being a pilot allows one hell of a view. Sitting up high with a cup of java in your hand overlooking the changing autumn leaves gracing the tops of the smokey mountains beats the hell out of sitting at a desk buried in tax returns. Of course, the upside is the guy buried in tax returns gets to go home at night and see his kids, sleep in his own bed, etc. As to what is more important – that is a personal decision – one I am struggling with.

When I signed up to be a professional pilot, I knew the pay sucked at first. I planned accordingly. I got the job, happy as a pig in shit. However, after a few months on the job, I realized that in order to “fit in” with the group, you had to adopt the attitude of a complainer. Every captain I flew with (well, the vast majority) was a complainer. Airline internet boards are loaded with guys all bitching about pay and other factors, yet they’ll all continue to do the job because they love it, deep down, and couldn’t see themselves doing anything else. The lines out the recruiters’ offices are very long and always have been, even in good times – obviously the job is desirable in the eyes of many.

I ran across first year first officers who got their first job flying a jet with 412 hours total time actually complaining about the pay.

Many of these guys are pulling in an average (between FO and CA wages) of $50,000 per year and are enjoying 14-16 days off per month. For those who are math challenged, that means they only work two weeks and change out of every month (it does take some time to arrive at this point, depending on how quickly the seniority list is moving). This is starkly different from most jobs where you work 5 days a week, EVERY week, and sometimes on the weekends. Smart bidding over the month break can often yield 10 days off in a row – I did this on several occasions. You can effectively create a vacation in the middle of your schedule without taking a vacation at all. Where can you do this in the corporate white collar world?

There is more I’d like to say on the matter. But, let me wrap it up with this:

Being a professional pilot is one of the coolest jobs around, despite the MANY negatives. The training to arrive at a decent flying job is high (but not higher than earning a CPA or other similar credential). Your life is on the line, as are those of your passengers. The chances of being killed as a professional pilot are greater than sitting at a desk. The lack of professional mobility – seniority system preventing lateral movement to another company, etc – really curtails the ability to enjoy a fruitful career. The inherent instability of the profession is rough to plan around. The continuous checkrides where your job hangs in the balance, the risk that a medical concern could end your career, etc should all pay a material premium.

However, the job is basically fun. You don’t have a boss standing over your back everyday – sure the Feds show up from time to time. The view is cool. 70% of the flight is spent with your feet kicked back while the airplane earns you your money (as opposed to a CPA where the computer does NOTHING if you aren’t doing something). The number of days off are higher than most jobs, the sun is in your face, and you get to fly a pretty cool machine.

And, honestly, the pay (after the first year) is basically on par with most professional jobs, as I’ve proven, and quickly has the potential to surpass them.

I know its cool to bitch about pay and airline management, but some of these guys need to count their blessings. If, per chance, one succeeds and arrives at being a major airline captain (tough right now due to increasing regional flying), the pay is well over 150k a year. There aren’t many other jobs where you can earn this level of pay without holding a significant equity position in the company you work for.

I am not saying that pilots have it great, but am just trying to keep things in perspective here.

When the industry rebounds, I’ve decided that the chances of my going back are quite high. But, we’ll see for sure when the next opportunity knocks.

FAR was pretty difficult. It could have been considerably worse, however. I feel pretty good about the 90 MCQs. One of the simulations was pretty rough. I didn’t expect the format or the content. However, the second simulation was fairly straight forward.

All in all, I believe I passed it. Many people walk out thinking that they failed. I am not one of them. However, it could happen. I didn’t feel as good about this test as I did coming out of REG (on which I scored a 97). However, “apples to apples”, I am still in the ballpark. Considering I’d still have passed REG had I scored 22 points less, that extra buffer might come in handy on this one.

Eitherway, I will not know my score until about November 23rd. Consdering it is only Oct 11th at present, I’ve got quite the waiting game ahead. I can either sit here and worry about it, or I can move on with life under the assumption that I passed and deal with potentially bad bews, if it comes, at the time.

I’m already spooled up for beginning test prep for BEC. That section is already paid for and scheduled for November 30th. I’ve got roughly 7 weeks to get this one under my belt. I have targeted out a reasonable timeline to get it all done. There are no simulations in BEC, so that is one less thing to worry about. My timeline is fairly steep, but I am going to make it happen. One FINAL push for this year!!! I’ll begin the AUD section before the year is out, but most of my prep will take place immediately after the new year. I do not have AUD scheduled yet, but will likely sit for it late January or early February.

My very last class required for the 5th year is coming up on 50% complete. The light at the end of this tunnel is getting pretty bright about now.

I must admit, as much as I love many things about this particular chapter of my life, I will be ready for something new when I am through with this particular game. I am ready to make money again.

I am expecting a stale job market upon wrapping up this CPA. As to what exactly happens, I am not sure. As of this moment, I am giving heavy weight to the idea of reentering professional aviation when the right oppertunity avails itself. However, I’ve worked so hard on this CPA, I am going to use the skills to create a little side business and specialize in aviation/pilot taxes. This way, in the likely event of a future furlough, I will have a hedge against the cycle.

Then again, I might not. The professional flying door will stay shut for at least 2-3 more years, so I have time to experience life outside in all its glory before deciding to pursue it again.

I am satisfactorily involved in aviation right now. I’ve got two students going and still have keys to a Cessna 150 I can fly whenever I want. Also, I got invited to a staff meeting at the flight school this upcoming week, which is flattering.

I’ve decided to get back in radio controlled airplanes and finish building a Piper Cub .25 airplane I started a while back. R/C flying is admittedly, sort of boring in many ways (flying in circles, etc). I’d rather be up there myself than just standing on the ground and staring up there. However, I do enjoy building the models, installing all the electronics, etc. I don’t think R/C will be a huge part of my life, but I would like to get more involved than I am at present.

Well, its time to shine again. I’ve spent the last 10 weeks studying for this section of the exam, dubbed as the toughest of all of them. The passing rate seems to be on par with all of the others, however.

I’ve read 780 pages of the Gleim FAR book, answered 1797 questions, and have worked 47 simulations in various forms. My average score on EVERYTHING is an 84%, whereas with the last section it was an 82%. Considering I scored a 97 on the last test, even if I eliminate the entire difference between the final and prep scores, I’ll still come in 9 points above a passing grade.

All indications are positive. I feel ready to go. There is SO much information, that I know going that I do not know it all. But I know the vast majority of it. I believe as long as I think clearly and logically and not get overwhelmed by the ticking clock, I think this will be a one time only test.

But…..you never know.

Either way, I am hanging my hat on FAR for at least 2 months. After taking a couple days off this upcoming weekend, I am going to jump into the BEC section and sit for it before the end of this testing window. The score for FAR will not be released until mid November. If the news is bad, I’ll fire up for a retake during Dec and plan on doing it first thing Jan 2010.

Its always best to hope for the best and plan for the worst and that is what I’ve done.

Wish me luck. I’ll post a damage report in the next day or two when I get another opportunity.

I am in the home stretch now towards review for the FAR section of the CPA exam. I’ve put in nearly 10 weeks of full time study and am finding that I am scoring quite well on the practice tests. Unless a curve ball comes my way or something else I don’t expect, I believe that a passing grade is well within reach at this point.

I’ve got a full schedule for the next three days of focusing on weak points, solidifying the more complicated sections, etc.

I’m experiencing a marked degree of burnout right now. Its only natural. However, I purposely ordered these exams from hardest to easiest so that as I get increasingly burnt out, the tests get easier. Aren’t I smart?

Talk about a one track mind! I have shelved most every other aspect of my life in these final days. I did the same for the last exam and feel that sticking to a winning recipe is smart. Besides a run in a day or two, I am not leaving the house until exam day. When I finish, I’ll have a decent amount of catch up to do, along with seamlessly moving into preparation for the BEC section, which I plan to take on 11/30 – the last day of testing for this year.

Assuming I pass all sections on the first try, I ought to be done with this cycle by close of January 2010. It will take a few months for the state to send me my application. I figure by mid summer of 2010, I’ll be fully official – with the certificate hanging in my office, etc.

After the final exam, I need to figure my next move. The job market is fairly stale right now, even in the accounting industry – perhaps less than other industries, however. I am hoping for a quick turn around and to rejoin the workforce and start making respectable income again. However, I am expecting to face a degree of stagnancy out there. Finances are still in good shape and the lights will stay on for the foreseeable future, which relieves some pressure. But, once this CPA is done, my objective is going to shift to finding a way to make money – either in aviation, accounting, or both (the likely scenario).

I’ve been giving more thought to the logistics of running my own accounting practice and it excites me very much. There is a book out there that I am going to purchase that is written by a CPA regarding what it takes to begin and operate a business. Its on my list to get that book and start reading. However, like I stated before, I have a one track mind right now. When this test is done and I am an official CPA, I’ll look into the next step on this journey and start educating myself appropriately. “Do what you are doing, while you are doing it” is my motto.

Its the end of August already. Seems like just a few weeks ago that my professional life changed course. It was December 15th, 2008 when I left the regional airline I used to fly for. I began the CPA endeavor on Jan 5th, 2009 knowing that it would take me about 13-14 months to complete on a full time basis. Rounding out the end of eight full months shows me quite on target for completion around the end of January 2010.

Currently, I have one CPA exam (of 4) down with three left to go. As it stands, I am about 70% complete with the initial run through of all the material for the FAR section that I am taking next. My basic study plan is to expose myself to everything, get intimately familiar with the subject material on the first pass through, finish up about 2-3 weeks from the date of the test, then use that remaining time to review, work on the weak areas, and perform other miscellaneous test prep actions. I am well on target to sit for the exam on 10/8 (in fact, that might be too much time).

My very last class of the academic line up is underway. I purposely front loaded my academic work to the spring and summer, so that I would have more time available to study for these tests now. Accordingly, I am enrolled in a single class for the fall term, Cost Accounting II. I don’t really have my heart in school anymore – you could call it burnout. Sitting in an undergraduate class at damn near 28 years old just doesn’t feel right to me, but it is done all the time.

My primary objective is to study and pass these 3 remaining CPA exams over the next 5 months. Whatever work I do for the Cost II class will just be background noise to the larger picture.

I am still flying regularly. Its been a while since I’ve gone a weekend without flying and I hope to keep it this way from now on. One of my students just did his first solo cross country flight. The other student is progressing along as well, though we aren’t as far along in the training. On a weekly basis, I am averaging about 3-4 hours of flying. Much of it is simple, clear day, single screw, type stuff. But this is all I can get right now and am satisfied with it.

I am still trying to decide where to go after January when this CPA endeavor comes to an end. There is no way that I can plan everything to the letter. However, I am trying to piece together a general plan. I would have loved to have found success as an airline pilot. Flying is certainly more in line with my basic purpose in life. As I am getting older, having a child is coming closer and closer and being able to provide for (and be home to enjoy) my family is increasingly weighted in my thought process over merely going out and doing what I love above all costs.

But, did I really love airline flying? The answer is probably no. Much of it was VERY cool and much of it was not cool at all. Accounting likely falls in the same category. Absent the flying part of the job, it really was a crappy job. My current goal is to see if I can figure out a way to maximize the benefits of both of these career choices. I have more thinking to do along this line.

Either way, jobs will be VERY scarce for the next two or three years in the aviation world. Therefore, in the short term, I have two choices as I see it. The first is to go find a low paying flying gig (i.e. flight instructing, banner towing, parachute dropping, etc) and sort of park myself for a while and make just enough money to scrape by. In the end, this might work to bridge the gap between now and when material movement picks back up in the aviation world. However, the only thing I’ll have to show for it is more hours in my logbook. With my current 2,000 hours and just over 1,000 hours of turbine multi 121 experience, my bet is that I’d still be competitive in the airline world so long as I keep the hours trickling in at a reasonable rate in the interim to keep my recency up. The second option would be to go back to accounting armed with this newly acquired CPA credential, make considerable money (compared to starting flying jobs anyway), use said money to pay off my small student loan, rebuild wealth (one of the opportunity costs to this full time CPA endeavor is the lack of income I could have been making this whole time), and otherwise view my job as getting paid to build experience in my backup profession. My goal with accounting, should I choose to stay long term, is to run my own business in a hand full of years. I will need 3-4 years of good hard experience to build up what it takes to be able to offer something of value (and worth paying me for) to my clients. Even with the CPA cert in my hand, I will not be armed with enough “real world” experience to go out on my own.

Therefore, when you distill it all down, I can either do something I already know how to do (fly an airplane) while making little money, only to likely end up in a very similar position that I am currently in (IOW, basically possessing the same degree of marketability that I have now) or I can go back into accounting with my fresh CPA credential, make at least twice the money and capitalize my time into ultra valuable real world experience with which I can use to open my own business in a matter of several short years. Considering all aspects and that there is hardly any career progression going on right now in the aviation world, I believe the decision is a clear one. Imagining two parallel lives, one going one way and one going the other, I can either still be where I am now (still broke and trying to break into the airline world for “another” attempt at starting my pilot career) or I can have three plus years of experience as a CPA, armed with the knowledge gained, and actually possess a marketable skill that I didn’t possess before.

Even with this in mind, I do not know exactly how it will all shake down. But, as I pass month eight of the thirteen required for this CPA, I believe it is healthy to be thinking along these lines so that I can begin to ramp up a situation that I can be happy about when the time comes.