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    Home Unlabelled Accounting Actually working is a lot easier than pretending like you're working

    Accounting Actually working is a lot easier than pretending like you're working

    December 07, 2017

    Accounting Actually working is a lot easier than pretending like you're working

    Actually working is a lot easier than pretending like you're working

    Posted: 07 Dec 2017 08:24 AM PST

    Just throwing that out there. Trying to hide your reddit browsing and text messaging from partners gets stressful and they're not completely oblivious to you quickly minimizing windows or staring at a screen not typing or clicking.

    submitted by /u/NonfinancialGrain
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    The secretive panel of art experts that tells the IRS how much art is worth

    Posted: 07 Dec 2017 04:01 PM PST

    Anyone else notices that Kelly Roland is texting her man with excel then gets mad he doesnt respond? (In the music video for Dilemma by Nelly)

    Posted: 07 Dec 2017 08:38 AM PST

    Busy season tips. I made a list of a few things I have used to help me. Just wanted to share.

    Posted: 07 Dec 2017 12:20 PM PST

    Need help creating a balance sheet for a drop ship business

    Posted: 07 Dec 2017 05:58 PM PST

    Hi all. Please go easy on me, as this is not something I've ever done. I'm no accountant. Long story short, I was just approved for a mortgage, but the underwriter wants to see a YTD balance sheet for my side business. I have already provided a P&L for them, but I am totally stumped on the balance sheet. The accountant I've been using for a few years hasn't returned my calls or emails in over a week and the loan processor is breathing down my neck for this thing.

    The business is me doing some graphic design, listing the items (stickers) online, and when they sell, sending the info and shipping labels to my supplier who then manufactures and ships the item for me. I never see the item unless I buy some to take to a trade show, of which I currently have none. I don't pay my supplier anything unless I sell something.

    So I have no idea what to put in liabilities or assets. I own a computer. That's about the only asset I have other than my personal bank account where the payment is debited (and then I pay my supplier and my postal fees out of that). Can someone point me in the right direction of an article, or anything that shows how to do a balance sheet for a business like this? I pay no employees. I don't pay up front for products, no stocks, and I have no property other than a computer.

    Any help would be greatly appreciated. I am desperate for some sort of advice considering my accountant went m.i.a. during such a time sensitive issue.

    Thanks so much in advance. :)

    submitted by /u/tintedrosie
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    How difficult is getting a CA in Australia/New Zealand?

    Posted: 07 Dec 2017 09:42 PM PST

    I barely passed my degree, the company I landed a job with said they'd pay for a portion of the qualification, was wondering if anyone had any advice for it?

    submitted by /u/AtlasAtlasAtlas
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    Tip for BEC Exam Takers

    Posted: 07 Dec 2017 12:42 PM PST

    I sit for BEC tomorrow with minimal study time put forth, so I searched for some study guides to help out on top of Becker

    1. The AICPA sample test provides a list of equations once you get to the SIM portion (it's in a separate tab at the top). I did a printscreen and printed these off from Word. One redditor explained that the equations that were provided in the SIMs looked different than the way Becker structured them, so even if you know the equations, it may be helpful to see them the way the AICPA provides them.

    2. Google stuff like "BEC Study Guides". I found the following link which summarized the material well: https://sites.google.com/site/cpaexambec/home

    3. Visit the COSO website and go to the Guidance tab for information on the Integrated Framework and ERM

    4. Remember when you are completing the SIMs that you can do a split screen. This lets you see the actual SIM and the supplementary material without switching back and forth between tabs. (This may be more helpful with other exams than BEC)

    Hope this can be of help to some of you out there.

    submitted by /u/accountinginkc
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    [CAN] Any experience working for Collins Barrow?

    Posted: 07 Dec 2017 04:18 PM PST

    I am wondering if anyone who is/has worked at Collins Barrow would be willing to say what they like/don't like about it and whether they'd recommend working there. I have a chance to work at one of their Ontario offices and while I've looked on glassdoor I'd like to see if anyone can add anything and maybe answer any questions. Thanks!

    submitted by /u/Vorelone
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    who saw the protestor outside of the PwC office west coast?

    Posted: 07 Dec 2017 09:32 AM PST

    lets join him

    submitted by /u/dalimbs
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    Need some advice.

    Posted: 07 Dec 2017 04:11 PM PST

    So I know this question has probably been asked before, but I wanted some fresh opinions. Anyways....I am an accounting major. I really like doing it, but at times I'm not that great at it . My question is what can you do with an Accounting degree if you don't necessarily plan to become a CPA. I know a CPA offers a better pay, but I would like to know about other routes.

    Thank you in advance.

    submitted by /u/Yingyang89
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    Switching between Big 4 firms - 2 weeks allowed?

    Posted: 07 Dec 2017 10:21 AM PST

    I'm a senior that may switch from one Big 4 firm to another soon. I heard that they don't allow 2 weeks notices when you leave for a competitor and they'll more or less escort you out of the building as soon as you give notice.

    Is that true?

    submitted by /u/TheVioletPill
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    Which present value table to use and when?

    Posted: 07 Dec 2017 09:30 PM PST

    I have some homework and was confused about which Present Value table to use and when? I have two tables one is named Present Value of £1 and the other table is called Present Value of an Annuity of £1. In which scenario would I use them?

    Thanks.

    submitted by /u/xkillachillix
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    recruiter contacted me for an internal audit position at a public firm what is this job like?

    Posted: 07 Dec 2017 09:12 PM PST

    Am I losing my job/team?

    Posted: 07 Dec 2017 03:13 PM PST

    I'm a new associate in big 4, working for a couple months now. I loved my team coming on but slowly feel that they like me less and less.

    I more recently have felt like I'm just not doing a great job in part because it's very small so I do a lot less work than the couple people above me mainly for my position/inexperience, and they just stay a lot later than I do and usually try to get me out of the office if they notice I'm here past like 5:30.

    In the past like week I noticed there's some random dude talking to my senior who I know is on other clients so I didn't think anything of it, but I found out he's actually on my team and I seem to be the only one who doesn't know about him. He's booked on my client pretty much through busy season (like myself) and my older associate jokingly (but maybe not?) said today that I was slowly getting removed from the team because we're all working from home one day in a couple weeks.

    Is something happening here? Why would we have a long-term person who's also a first-year added to the engagement team without telling me or mentioning it? Am I getting moved somewhere else or something? I'm terrible with the whole politics/likability thing so I'm low key freaking out but there's probably an equally likely chance that this is nothing.

    Can anyone help me calm down or tell me what I should expect please? Thanks

    submitted by /u/logitechmouse101
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    Hey, what’s accounting like for a perspective accounting major?

    Posted: 07 Dec 2017 05:00 PM PST

    Hello r/accounting I'm currently in art school (I know, I know) and am having doubts about my career path (not about job security or opportunity but from myself. So I know math is a big part of it but what else is the job. Also what type of math is apart of the job. Math was never my best subject in High School but also not my worst. I'm also considering going for business. So what's your advice on someone maybe looking at accounting?

    submitted by /u/MtnDewCan
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    [US] General discussion about earning the masters degree online

    Posted: 07 Dec 2017 12:55 PM PST

    I'm just curious about earning my masters online vs. in person and I was wondering if anyone could share their experience.

    submitted by /u/airjordan77lt
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    Is small talk a linchpin in dealing with clients?

    Posted: 07 Dec 2017 08:11 PM PST

    So I'm a college student planning on declaring a major in accounting. While I am an extremely introverted person, I'm certainly not socially-disabled or anything and could probably "fake it" throughout the recruiting process. The problem is that I'm also probably one of the most boring people you'll ever meet. I don't party, don't have any interesting hobbies, and try to leave my apartment as little as possible. When I hear people talk about the ability to "schmooze" clients as a necessary skillset in moving up the food chain in public accounting and opening up doors for yourself in industry, I have an image of this scintillating superstar who blows clients away with their charm and how interesting they are via small talk in between actually discussing work. This prospect is what terrifies me the most about going into accounting. So my question is, just how important is it that you be an interesting person who can make high quality small talk if you wanna have a successful career? Obviously small talk is unavoidable in business dealings, but will it hurt my chances if I just come across as a mind-numbingly boring person?

    EDIT: If you have the time, I'd really appreciate it if you also gave me an example of a small talk conversation that you have frequently with clients.

    submitted by /u/ozark_scaler
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    [advice] Anyone willing to help me with a basic cash flow problem for a reward of $10?

    Posted: 07 Dec 2017 07:49 PM PST

    Simple Accounting Problem for Final Exam

    Posted: 07 Dec 2017 01:47 PM PST

    Hey guys,

    I am having difficulty solving a problem on my review for my final. It's a forensic accounting class, so most of the material we have covered has been theory-driven. Here it is:

    Given the following facts, calculate Return on Equity:

    AMOUNT
    Sales $8,200,000
    Net Income $2,050,000
    Average Total Assets $7,100,000
    Average Total Liabilities $3,500,000

    a. .29

    b. .58

    c. .60

    d. .71

    e. not enough information is given

    I know the equation for ROE is Net income/Average Common Equity, and there are multiple graded versions of my review online, so I know the correct answer is apparently c. 60.

    If anyone could point me in the right direction, or explain how to get the average common equity from the info provided, I would greatly appreciate it. My textbook only provides a page of formulas, but doesn't say how to get the average common equity.

    submitted by /u/Scribe_in_Training
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    Leaving my job...

    Posted: 07 Dec 2017 06:43 AM PST

    So I graduated this past spring, and landed a staff accountant role with a very good company in my area. I am planning on leaving so I can pursue other options for my career, and possibly go back to school. Honestly I just feel like a huge jerk for leaving now since it is just about to get busy for year end, but I really just want to put in my two weeks and move on with my life. Anyone ever been in a similar situation? How did it go? I am willing to do everything I can in the next two weeks to help them, but this just isn't for me.

    submitted by /u/maniacinthemailbox22
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    Just sat for FAR today. It was rough.

    Posted: 07 Dec 2017 03:52 PM PST

    The areas that I felt best prepared in seemed to be the least tested areas. Is this by luck of the draw or design? I knew pensions like the back of my hand and got one MCQ on it total. In contrast, I wasn't 100% on Govt/NFP and got seemingly a ton of those. Has anyone ever passed FAR even after feeling like crap coming out of the exam?

    submitted by /u/capitalboi2001
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    Any auditors have tips on how to deal with back pain from clients giving you shitty chairs to sit in?

    Posted: 07 Dec 2017 07:57 AM PST

    Clients basically give us the chair in the office that no one else wants to use, and my back is definitely feeling the effect. The client I'm going to next week sits us in metal folding chairs. This may be a silly question, but does anyone have any tips for dealing with this?

    submitted by /u/tccsnandybu
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    What approach should I take when I apply for internships?

    Posted: 07 Dec 2017 07:14 PM PST

    So I know that most internships will be posted on my schools job board and I also understand that they are only on there for a small amount of time.

    Now, what I am confused about is does this mean internships for industry will also be included or not. I am interested in applying to some internships for accounting roles in Dell, HEB (grocery chain in texas), HP and a few other companies. I know that they have applications on their websites so does that mean that they will not include them on the career board?

    Also I plan on applying to a mix of internships like industry and public and just choosing out of the ones I get call backs for. Is this wide net approach applying to internships effective or should I just pick a few and go from there?

    Also, sorry if this is a dumb question, if I apply to a summer internship for 2019 in public say in the fall of 2018 would I be hearing back from the firm pretty soon or how does the entire process look?

    Thanks for any advice! I can't believe I'll be at the point in my college career where I can actually apply for accounting internships!

    submitted by /u/forestgather50
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    [CAN] American needs Canadian CPA firm accounting recruitment advice

    Posted: 07 Dec 2017 07:11 PM PST

    Hi there, I'm a 21 year-old female dual US/Canadian citizen who is considering moving to Canada after I finish school to work in accounting. The thing is, I've never actually lived in Canada and I don't really have any connections there.

    I am a forth year accounting major in a 4+1 MSA program and will be finishing my masters of accountancy in spring 2018. I am planning on taking the (american) CPA during my last year of school.

    How does recruitment work for accounting firms in Canada? Do I have a chance if I am not able to meet anyone in person and can only apply online? Is taking the American CPA worth it if I am going to be working in Canada?

    Also- to my understanding salaries are much lower at CPA firms in Canada than here in the US but hours are lower and cost of living is way lower. Do you find that you can have a comfortable lifestyle on your salary?

    Thank you!

    submitted by /u/sandrarae-
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