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    Accounting How accountants flirt

    December 09, 2017

    Accounting How accountants flirt

    How accountants flirt

    Posted: 09 Dec 2017 09:50 AM PST

    This is how I feel as a second year accountant with a liberal arts degree

    Posted: 09 Dec 2017 01:09 PM PST

    Pentagon Announces First-Ever Audit Of The Department Of Defense

    Posted: 09 Dec 2017 08:48 AM PST

    Never thought I'd be doing accounting for Heisenberg

    Posted: 09 Dec 2017 03:55 PM PST

    I'm having trouble with a research memo I have to write based on a prompt my professor gave me.

    Posted: 09 Dec 2017 08:07 PM PST

    I have a research memo to write and I am having a really hard time finding tax codes and cases to support scenarios 2 and 3 below. If anyone has wants to give their input please comment.

    Harry, a single 60-year-old taxpayer with no dependents, became very rich from his previous career and is now a compulsive gambler. In 2017, Harry borrowed $5 million to gamble and lost it all. He was unable to pay it back in full, but settled the debt for a $75,000 payment in December of 2017. Consider the following independent scenarios and determine his gross income assuming he has no other expenses or sources of income:

    Scenario 1: Harry borrowed the money from Ronald's Taj McHal in Las Vegas. He signed a loan agreement and borrowed all the money at once.

    Scenario 2: Instead, because Harry was such a good patron, the Taj McHal let him borrow money periodically over the course of the year. There was no documentation of each borrowing and due to the nature of Harry's compulsive gambling, he lost track of the amounts.

    Scenario 3: Rather than a casino, assume Harry borrowed the money from his bookkeeper in California, where gambling is illegal, making the debt unenforceable.

    So far for scenario 1 I have concluded that since he is solvent $4,925,000 would be included in his gross income. For scenario 3 I am torn between whether or not he has to pay taxes on the discharged debt since I found information supporting both sides. For scenario 2 I am unable to find anything. Even if the debtors don't fill out a Form 1099-C (which I don't understand how they could accurately if they haven't kept track of the loan) it's no excuse for not recognizing taxable income so I am really stuck.

    Thank you all for reading this long problem and I'll really appreciate if anyone has any answers.

    submitted by /u/barely_an_adult
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    Anyone work at a REIT?

    Posted: 09 Dec 2017 08:55 AM PST

    After getting rejected from various public accounting firms. I was fortunate enough to land my first accounting job at a REIT(Staff Accountant) . I really have no idea what to expect, and am wondering what other peoples experience was like working for one.

    submitted by /u/Mayflowerm
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    Meeting with a PwC tax manager for lunch

    Posted: 09 Dec 2017 10:16 PM PST

    I made a connection with a tax manager from PwC. We've talked a bit back and forth and she offered to give me a tour of the office and grab coffee/lunch. I'm really interested so obviously I'm going to make it seem that way.

    What should I wear though? Just like nice khakis and maybe a dress shirt? Does anyone have any idea how these things generally go? Is there any particular etiquette I should be aware of? I'm a sophomore in college and I've never met this woman before. Does anyone have any good questions that I should definitely ask? My ultimate goal is an internship but I'm aware the recruiting process is much more complex than just meeting someone who works for the firm.

    submitted by /u/kleinm6
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    Do you think Big 4 partners lurk on r/accounting?

    Posted: 09 Dec 2017 01:33 PM PST

    Really could use some advice about career progression.

    Posted: 09 Dec 2017 01:50 PM PST

    I currently work as an accounting associate at a small bank in my area. I originally applied for a credit analyst position and accepted. When I got hired 2 people in the accounting department left. They quickly asked me if I would be open to splitting time between accounting and credit to start my job. "Splitting" quickly turned into an 80/20 split where I spend almost all of my time in the accounting department and I love it. I majored in finance so I was surprised at how open they were to bring me into the accounting department but it has worked out really well. I actually hate doing credit analysis so this has been awesome. For some odd reason, I like the work. I made a stupid decision to also double major in supply chain management. I had 2 supply chain management internships in college and dreaded every second of it. Before I'd even get home I'd be filled with anxiousness for the next day. The same thing has happened when I work in the credit department at my current job. I dread doing it but that doesn't happen when I work in the accounting dept.

    It is very entry level. My work includes daily tracking and making entries to certain G/L accounts, keeping track of some of our investment portfolios and interest receivable accounts, some board, regulatory, and asset/liability management reporting, preparing month end financial statements, and some interest rate analysis. I so run all of the weekly A/P checks to our vendors. I work directly under the corporate controller and he has taught me a lot so far, but there just isn't any room for advancement at this bank. I 100% do not want to do public accounting and would much rather stay in the corporate and industry accounting areas. But the thing is I don't even have an accounting degree. Just finance. I live in a mid sized city in the mid west and there are tons of accounting opportunities at large manufacturing companies and a few F500 companies but I feel like I'd be unqualified for accounting positions at those places. I've looked at Master's programs and even a few Masters of Tax programs but I don't know what to do. Is a master's necessary for someone who doesn't want to go into public accounting and wants to stay in corporate and industry roles? I'm 24 y/o now, should I just stick around for another full year to gain as much entry level accounting experience as possible and forget going back to school? Any advice would be greatly appreciated. Thanks.

    submitted by /u/ferraripanda
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    [Career Progression] How damaging is it to go part time while raising a family?

    Posted: 09 Dec 2017 07:23 PM PST

    Background: I'm graduating college in a week, have an internship lined up at a local (120 employees) public accounting firm, that I'm fairly confident will turn into a full time offer.

    I'm 23, (female) married, and would like to have kids young and get it out of the way. I would prefer to cut down to part time, and ramp it back up to full time by the time the future kids are in elementary school. (5-7 years) I'm also not particularly ambitious, I just want a stable income to support a family with my husband.

    However, I would like to have some career progression where I can feel like I'm moving up and developing as a professional.

    I've been reading a lot online, and they make it seem as though if you leave or cut down, that it's impossible to get back into the workforce again and you'll regret it. I don't care if I'm a few years behind the people I started with, I'd just like to know if any 'damage' I do would be completely irreversible.

    So I have a few questions for people who have dealt with this type of thing before:

    If you left, or went part time, how did this affect your career growth? Is all lost? Are you permanently viewed as uncommitted to the profession? Do your co-workers/superiors resent you?

    How hard was it to assimilate if you did go back to full time?

    Did you cut hours at your company, or did you accept a different position altogether?

    Did you feel like it was worth it in the end?

    Working parents in general, how do you strike a work life balance, especially with young children?

    Any answers would be greatly appreciated, thank you so much in advance!

    submitted by /u/sissysheeps
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    Your maternity and paternity leave policies.

    Posted: 09 Dec 2017 03:52 AM PST

    Just wondering what kind of maternity and paternity leave policies are offered by your firms.

    submitted by /u/Pupopie
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    Career Moves..

    Posted: 09 Dec 2017 07:07 PM PST

    I have 1.5 years of public experience in a very small (2 partner) local firm.

    Then I went to a national prof. services firm as a staff accountant in a major city. I've been there for 3.5 years.

    Have B.S., MBA, and 2/4 CPA currently complete.

    I'm aiming to finish the CPA exams and then make a move.

    I'm interested in private equity/asset management accounting. I believe my background in doing accounting for a partnership should help in this sense.

    My question is: what is the next move for me? Do I need a large corporate name on my resume? Big 4 is probably not going to pay attention to me. I would have to go regional public -> national public -> B4 if I wanted to do the public stint with my license.

    Or I can make a move still in industry, however a different one. I won't know too much but it'll be like starting from the bottom up. Senior accountant title is the idea.

    Any input would be helpful!

    submitted by /u/aspiring_cruncher
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    Are there any websites that comprehensively lists the CCs in the US that have CPA classes?

    Posted: 09 Dec 2017 12:30 PM PST

    Big4 Tax to Local Firm

    Posted: 09 Dec 2017 08:43 AM PST

    Hi Reddit, I am here looking for some open ended career advice since I don't know many older CPAs and would appreciate some insight.

    I am currently working for a Big 4 federal tax team in a middle sized market. I am an associate about to hit my 2 year mark and making roughly 60k.

    I am looking to venture out of the Big 4, since the lifestyle just really isn't for me. The issue is, I'm not ready to leave for corporate just yet.

    I found a local firm that seems to be a great offer: senior position, 90k plus bonus, yearly raises, and they only require 1,600 chargeable hours (5 weeks pto.) That makes for busy season nights going until 9-10 instead of 11,12,1,2..... A relevant point is that the firm specializes in real estate & international tax.

    My question out there for anyone who could shed some insight, is how would staying in public accounting, albeit now working for this local firm, affect my long term career prospects? My goal is to work in industry some day, whether it be another 2 years from now or maybe even 10, who knows.

    Would having the local public accounting firm on my resume, with some real estate specialization, still make myself marketable whenever I decide to look for that new position? Are there industry jobs out there that would like that? Or would jumping ship to local right now just be a red flag? I feel like the comp being offered to me is very generous and hard to turn down.

    Appreciate your time & advice.

    submitted by /u/jzo16
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    Non-accounting majors and courses before passing the CPA exam

    Posted: 09 Dec 2017 06:17 PM PST

    Hello, Question for non-accounting majors who went back to school for the CPA exam: Did you (A) take a bunch of courses or did you (B) take a few general courses to meet the requirements to sit and maybe one or two more? If B, did you wish you had taken more?

    submitted by /u/Moonwalker13
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    Thinking about taking a software training program, any recommendations?

    Posted: 09 Dec 2017 05:56 PM PST

    I'm gonna be graduating soon and have been job hunting since September for post grad. I've interviewed for both public and private accounting roles and haven't had success yet. The main issue I believe is that I lack any professional accounting experience (I've had my resume reviewed/been to interview classes through career services at my school and get generally positive feedback from hiring managers post interview).

    Since I have no experience I got the idea to do a training course in an accounting software so I could say on my resume "completed training in X software." My question is, which software do you feel is most valuable, Quickbooks, SAP, Netsuite, etc?

    submitted by /u/peace_love17
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    Question about booking an expense in a prior month?

    Posted: 09 Dec 2017 05:12 PM PST

    It is now December, I just had an expense on one of the company credit cards that I was unaware of due to a lack of an invoice. The expense should have been expensed back in May. Can I go back to book the expense in May on our Income Statement?

    submitted by /u/justinrose99
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    Salary expectations after leaving public

    Posted: 09 Dec 2017 11:11 AM PST

    Currently making $55k. I have my CPA and 1.5 years auditing experience with 2 busy seasons at a small public accounting firm. Large metro in the SouthEast.

    What salary range should I aim for?

    submitted by /u/ActgThrow12309812309
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    [CAN] CPA Performance Management

    Posted: 09 Dec 2017 01:20 PM PST

    11 days until the fun is upon us. What is everyone's studying(survival) tactics?

    submitted by /u/Steezy_Monkey
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    Best Industries for Accounting?

    Posted: 09 Dec 2017 10:29 AM PST

    Just wondering what the best industries are for accounting long term (outside of public). In terms of growth potential, overall job market, career trajectory, etc.

    I heard commercial real estate, property management, and the government sector are good. Any recommendations?

    submitted by /u/AtmaWeap0n
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    I have an ethical question

    Posted: 09 Dec 2017 11:49 AM PST

    Goodwill's website lists fair market value estimations for donations and from what I am told they are usually taken as accurate for calculating charity tax credits. However, what if you purchased an item in the same year for less than that amount? Would donating 10 pairs of jeans you got for $10 and claiming $60 in charitable donations a legal way to reduce your taxes or fraud/tax evasion? I'm an accounting student myself so I understand a lot of the underlying principles here, I'm just unsure of this specific use case.

    submitted by /u/TheLastRGBBender
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    Nervous about applying and interviewing

    Posted: 09 Dec 2017 02:30 PM PST

    I'm a college senior about to apply for busy season internships at several regional firms. I'm nervous that I may not know enough/won't make the cut, any advice about what to expect in the interview process and on the job would be greatly appreciated

    submitted by /u/tehcedarchest
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    I need advice!!!

    Posted: 09 Dec 2017 02:24 PM PST

    So currently I am a first year at a business school. I put my intended major as an accountant. I know many of you are reading and thinking to yourselves, "relax, youre only in the your first year." but hear me out. So in my school, I attend an accounting society club. In here, branches of accounting firms, etc come to talk to us about various topics. Now dont get me wrong, theyre informative, but im not sure if its because Im not familiar with what theyre saying yet because I get bored quickly. 1. So i wanted to ask you guys what exactly do accountants do that many won't know by a simple Google search. 2. Was it an easy path to get the degree and get a job immediately? 3. Do you regret becoming an accountant and wish you did something else?(I watched a Youtube video and many accountants said they wish they took a different route). 4. Are you guys scared that accounting will get automated soon?(Also scaring me since I don't want to get a degree in the field and have the field not relevant to humans anymore) 5. Finally question is, what do you guys suggest me to do? Keep on going with accounting or just wait? A second career option I was thinking would be CIS since computers are going to be a hot thing in the future. A lot to read, I apologize but I'm really curious. Thank you to all those that answer this threat.

    submitted by /u/TheOGAllan
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