Accounting Fact: The best part of investing in stocks is the simple joy you get when shareholder proxy voting "AGAINST" for the appointment of that year's independent accounting firm |
- Fact: The best part of investing in stocks is the simple joy you get when shareholder proxy voting "AGAINST" for the appointment of that year's independent accounting firm
- PSA: Accounting majors with nothing to do sign up for VITA
- This subreddit seems to often talk about the bad parts of accounting. What are the good parts of being an accountant?
- I am so sick of Sage 50 updates.
- "SUB-stantive" testing, or "sub-STAN-tive" testing?
- Grass is not always greener after Big Four
- GAAPxIFRS Collab
- What do you wish you would've known going into your internship?
- How does one make partner?
- [UK] Accumulated depreciation on balance sheet
- AUD Studying Tips
- Efficient study strategies (skip lectures)?
- anyone here taken REG Q1 2018 yet?
- Boutique M&A?
- Just made audit senior. Could people please give me tips on how to be a good one?
- Wiley CPA
- Cloud Accounting Software: Your catch for the futuristic accounting - FinForce Consulting
- UBC DAP E-BOOKS
- Question about CPA
- My 2-year journey as an accountant
- Possible Accounting Career?
- CPA Requirements
- Just graduated, applied to sit for the CPA - School slow processing transcript?
- CPA Job assistance
| Posted: 04 Jan 2018 01:18 PM PST That'll surely teach you to try and audit companies I invest in, KPMG. [link] [comments]  |
| PSA: Accounting majors with nothing to do sign up for VITA Posted: 04 Jan 2018 03:42 PM PST Got nothing to do this winter besides sitting on your ass and watching it snow like the devils arse? Sign up for some VITA and help people get a few bucks on there tax return. Who knows maybe you'll meet fellow number crunchers or maybe your future wife or hubby. ;), good luck stay warm. [link] [comments]  |
| Posted: 04 Jan 2018 08:16 AM PST I am a high school senior currently stressing over my future. My dad has always jokingly said my first book was The Smartest Guys in the Room as I have loved finance as long as I can remeber. After taking my first accounting class (was basic bookkeeping) I loved it and also had a probably not very legal under the table business last year helping other high schoolers fill out their taxes. I plan on going to Wake Forest, NC State or ECU for accounting and in the latter 2 double majoring in finance. I have had a lot of success in finance and accounting competitions in high school and it is somthing I have grown to love. I have lurked on this sub on other accounts but made a somewhat personal one. I see a lot of posts about the hours and poor conditions and the brutal CPA exams, but what are the good parts of bring accountants? (Besides just pay). [link] [comments]  |
| I am so sick of Sage 50 updates. Posted: 04 Jan 2018 12:40 PM PST I'm controller at a small business that has 5 separate corporations and therefore 5 separate Sage 50 instances. I'm also the youngest one here so I "know about computers" compared to the other people in the accounting dept, so every time there is a sage update I get to update the database for FIVE companies and then go around and update everyone's computer. This wouldn't be so bad if there was an update once or twice a year but it seems like I JUST updated Sage 50 and now there is another one. Can't the get their shit together and make this process smoother and/or less frequent? Why do I have to update the entire database for a software update that has no visible changes? [link] [comments]  |
| "SUB-stantive" testing, or "sub-STAN-tive" testing? Posted: 04 Jan 2018 08:07 PM PST |
| Grass is not always greener after Big Four Posted: 04 Jan 2018 12:32 PM PST So my situation is this. I have few years of Big Four audit experience and CPA in my pocket. Left that job a year a go. My new job seemed to be quite interesting and I cashed out nicely during transfer. At the beginning it actually seemed to be quite interesting and refreshing. The money was also quite motivating. My manager was challenging me with different tasks and trying to see what I was made of. At my current job I don't have to bill hours, nobody reviews my work, I can plan and prioritize as much as I want to, try to learn new things etc.. My manager seems to like me, as she is all the time praising things I've done even in front of my peers. So far all good right? Not actually. I'm having some sort of Stockholm Syndrome and thinking daily my previous job as an auditor. Even though most of the time it sucked it keeped me busy and challenged pretty much all the time. I didn't even realized how much i knew before entering my current company. The co-workers were most intelligent and although it sometimes was quite a rat race, you would recognize becoming smarter all the time. My responsibilities were growing and I think they silently appreciated my work although I wasn't the top performer. I've had few chats with my Senior Manager back at Big Four who has been hoping that I would come back. The current work seems to be something I'm somehow over qualified. The way they described it and the salary made me think it would really be an interesting role requiring Big Four-type of experience. I keep finding my self in situations where my co-workers think some issue for hours and hours that I already solved long time a go. They are having hard times seeing the big picture.. I don't mean to be cocky, but I just see odd faces when I try to explain how we should interpret law, solve minor issues, trying to explain different business risks decisions might cause etc. This job would have been challenging if I wouldn't have the experience of signing Auditor's reports. So am I crazy to even think of going back. I know that would probably mean 25% salary cut + no benefits, jargon regarding my earlier leaving, tons of hours and documenting and no promises of better tomorrow. Staying at current job is not an option in a long run, but as my manager seems to really like me and the way I work, maybe it would mean something for the future? So.. Am I just confused and should I stop worrying and see what future will be? I'm 99% positive that you can always walk back to Big Four with CPA in your pocket. [link] [comments]  |
| Posted: 04 Jan 2018 07:24 PM PST When do you think the GAAPxIFRS drop is going to happen? Might cop a few pieces to resell. [link] [comments]  |
| What do you wish you would've known going into your internship? Posted: 04 Jan 2018 05:39 PM PST |
| Posted: 04 Jan 2018 09:06 PM PST I am a first year associate at a national firm and while my future is uncertain I am curious about how one becomes a partner. [link] [comments]  |
| [UK] Accumulated depreciation on balance sheet Posted: 04 Jan 2018 06:51 PM PST Hi, The question shows that there is accumulated depreciation from the previous year 2010, so why is it that this amount is not added to the depreciation in 2011? I thought this would make sense because accumulated depreciation must be accumulating for at least 2 years? Thanks. [link] [comments]  |
| Posted: 04 Jan 2018 08:14 PM PST Retaking AUD in a month and hoping for some helpful tips. It was the only test I failed and it just doesn't seem to click with me so asking for recommendations on studying my second time around. 500 MCQs a day? Focus on SIMs? Watch lectures? Any help is appreciated. [link] [comments]  |
| Efficient study strategies (skip lectures)? Posted: 04 Jan 2018 07:32 PM PST Just started studying for Reg today. It'll be my first test I'll take. What's the most efficient ways to study? Does everyone recommend not watching lectures? I watched some today and I feel like i would have been better off just reading my book alone [link] [comments]  |
| anyone here taken REG Q1 2018 yet? Posted: 04 Jan 2018 03:06 PM PST |
| Posted: 04 Jan 2018 06:39 PM PST Hello all, Long time lurker, first time poster here. I am currently an Associate in the IT Advisory practice at a B4 in a major metro area. After earning my CPA, I have been looking to make a career shift due since I know I do not really want to stay in IT audit long term, nor do any of the traditional exit opportunities really appeal to me. I am looking to get into M&A/TS type of work, and ideally I would like to transition into this area at my current firm. However, after meeting with a few people and discussing this possibility I was told that my firm/office does not hire many Associates into this practice so the jump may be difficult to accomplish based upon our current staffing needs. I have also been in contact with a recruiter about joining a local boutique M&A firm. I am a bit apprehensive to go through with it however, since it obviously doesn't have the name/pedigree a B4 firm has, and the types of deals they would be handling are most likely of a smaller scale. I was curious if anyone has any insight into working at one of these boutique firms? I want to get my MBA in the next few years and while the exposure is appealing, I don't want to jump ship just because it's M&A work and hurt my chances at getting into a top school. [link] [comments]  |
| Just made audit senior. Could people please give me tips on how to be a good one? Posted: 04 Jan 2018 10:04 PM PST |
| Posted: 04 Jan 2018 09:56 PM PST So I've been using Becker 2014 as my main study material, but I've been signing up for the 2 week trials with Wiley CPA (as a supplement/update). One thing I noticed was how little multiple choice questions that Wiley gives you to do. I was wondering if that's because I don't have the Full Retail version or if I were to stop using Becker and just use Wiley if that would be sufficient to pass? Granted, there are lot of things I like about Becker than Wiley (like mnemonics or highlighting) but I'm also kind of tired using an outdated 2014 version. Also, and I'm sure this question has been beat to death around here, but what's a good amount of hours to put into for each test? I passed REG already, but man I think I overkilled studying for that one. I also want to make sure I pass on my first try cause I'm broke as a joke and I would hate to pay $275 just to retake it. [link] [comments]  |
| Cloud Accounting Software: Your catch for the futuristic accounting - FinForce Consulting Posted: 04 Jan 2018 09:42 PM PST The move from desktop bookkeeping software to online accounting software solutions could be compared to move from Symbian phone to an Android OS based smartphone. Quickbooks is most popular and GST ready accounting cloud-based software. [link] [comments]  |
| Posted: 04 Jan 2018 09:23 PM PST |
| Posted: 04 Jan 2018 09:07 PM PST I didn't meet the CBA's requirements to be eligible to take the CPA exam. I have to take 4 more semester units in accounting. I want to take online courses because I work full time and have no time to attend classes at a university. Can you please recommend online websites where accounting courses are accepted by the California Board of Accountancy (CBA)? Thank you [link] [comments]  |
| My 2-year journey as an accountant Posted: 04 Jan 2018 05:14 PM PST Hi all. Generic throwaway account here. I graduated with a degree in accounting back in December 2015. I got a job at a regional firm (~120 accountants in my office) in tax straight out of college for $47,500. The first busy season wasn't bad. I learned a ton, then kicked back and enjoyed slow season. I got promoted to "Staff 2" that same Fall (yes, the company has two staff titles), and my pay was increased to $52,000. Then busy season #2 hit. It was horrendous. Every single client I was on was complete shit. I had no idea what I was doing half the time, and my seniors/managers were usually away and unable to answer questions. I spent most of that busy season deeply depressed, eventually looking around on Indeed for absolutely any job that wasn't public accounting. I found one. I interviewed for an "Accounting Analyst" position at a manufacturer. 40 hours a week sounded fucking incredible, and I didn't even care that I was taking a pay cut down to $50,000. It was a small company, so I knew there would be quite a few different functions I would fill. One of those functions was Accounts Receivable. Come June, with my CPA experience signed off on, and 3 exams passed, I left the CPA firm and went to work for the manufacturer. In July, I would sit for and pass my 4th CPA exam. In the beginning, I was given two tasks: 1) Accounts Receivable 2) Look for ways to improve different processes that Accounts Receivable touches I picked up A/R very fast. Not much to it. The ERP package we use is shit, but I can deal with it. Pretty much everything A/R touched was extremely inefficient. Although only 20-ish invoices would go out each day (company deals with low volume, but very expensive products), somehow they found a way to generate two reams of paper worth of junk that needed to be stored in a filing cabinet every single day. Over the next several months, I would eliminate all of it. Invoicing would take the previous person 2-4 hours per day, and I cut it down to 10-15 minutes per day. Today I spend less than 30 minutes per day on A/R-related things. Many other projects were dropped on me after learning A/R, which would then take up most of my time. Many of them involved implementing new software packages, ERP modules, or changing the way some business process works. Eventually, I was given the responsibility of creating and maintaining the monthly gross margin & P&L reports. Both of these, several other reports & month-end closing procedures take up about a week of my time every month. When it is not month-end close, and I have no looming projects, I do nothing just about all day. On an average day that isn't the first week of the month, I spend maybe 1 hour working and 7 hours browsing the web or learning SQL/Python/etc. My co-workers at the CPA firm I was at were awesome. My current co-workers are awful. Since I have been tasked with implementing changes to various accounting processes, and pretty much everyone else in the accounting/finance/inventory department have been there for 15-25 years, we always butt heads. I'm the newbie that is telling them to do something different. They like the way they do things, and want absolutely nothing to do with anything that is different. The company has grown 20x in revenue from back then, but they still cling to what they are comfortable doing. As a result, they work 50-70 hours every week just to struggle to keep up. Even so, they don't want to do anything different. My boss is great, and we get along very well since we see eye-to-eye. But everyone else hates the two of us. It has only been half a year, but I have already found myself poking around at other job postings. My state is taking forever to issue my CPA license, but I anticipate having it in my hand within a month or two. Though, I don't know if I want to leave so soon. Just today, a recruiter contacted me about a "Project Analyst - Finance" position at a (very reputable) business loan company. I also noticed that one of my former CPA firm Senior Managers left to work for this company via LinkedIn. Also, said Senior Manager is a pretty amazing human being. This got me thinking "Dang, it would be cool to have a friend at work again who isn't 70." I chatted with the recruiter briefly, and emailed him my resume. Not sure what will come from it, or my small desire to find a new job so soon. The only thing I do know: Nobody should have to wait over half a year for their shitty state to issue their CPA license. Fuck. tl:dr Tax accountant 1.5 years $47,500-52,000, industry 0.5 years currently at $50,000, now casually looking into other jobs [link] [comments]  |
| Posted: 04 Jan 2018 08:53 PM PST Hi Everyone, I'll try to keep this simple but no promises. I graduated undergrad in 2014 with a degree in Finance and took an entry level FP&A position at a F100. After my first year in FP&A, I took a promotion to Senior Controller for a very large region within my organization for a little over a year and now I'm back in FP&A as a manager. I really enjoy what I'm doing but I've been considering going back to school for my Masters in Accounting for a couple reasons.
As far as getting my MS in Accounting, what would be the best route in terms of minimizing debt and time of completion? I will have to continue working at my current company while going to school so part time or online are my thoughts. As much as I just want to get it over with and get the credits and eligibility for CPA, I still want a decent education so I can be better prepared for the exam and career change. Any other feedback on the whole situation is much appreciated [link] [comments]  |
| Posted: 04 Jan 2018 08:52 PM PST Hi all, I'm an accounting student in NJ that plans on becoming a CPA. I'm set to graduate with my Bachelors in Accounting this May and spend the next 9ish months studying and taking the CPA exam. I've been working part-time at a local CPA firm for about a year and plan on staying for at least one more to fill the requirement. In between I'll take a few online classes to meet the 150 credit requirement. As I understand it, I should have all my bases covered for the requirements... but the experience part is giving me pause. I will have had two years of experience under a CPA, but I'm reading it requires 1,750hrs per year. I only work 20-25 (40 during tax season, about 12 weeks) So am I just SOL? Or is the 1,750hr part waived for part-timers? Seems like it should be since 33+hrs per week hardly seems "part-time" Any help would be appreciated! [link] [comments]  |
| Just graduated, applied to sit for the CPA - School slow processing transcript? Posted: 04 Jan 2018 03:34 PM PST I just graduated in december with my BBA in Accounting & 150 hours. I applied to take the CPA exam and requested my final transcripts be sent to NASBA. However, my school told me my final transcript would take 6 weeks to process, and I need to have my transcripts to the CPA people within 45 days of the application or else I lose everything I paid for....Is there any way to get an extension or literally anything to avoid losing over $500. I am in the state of Georgia btw. [link] [comments]  |
| Posted: 04 Jan 2018 03:32 PM PST So I am in a dilemma. I have a few options in front of me which I want to share with you to see if you have any opinion or advice for me. I just passed the 2017 CFE and am accumulating my experience. I am currently working at a large private company (let's say something like Pepsi) as a route analyst (in the warehouse finance department). I have spoken to my manager about my goal to attain my practical experience and she said that she will transfer me to the head office (corporate finance dept) for me to attain the audit and tax experience however, not permanently, like a few days a week. There is no guarantee my manager will transfer me to other departments for prolonged periods of time which makes it difficult for me to hit the "progressive" criteria for the experience plus she (or anyone in my team) is not a CPA so no one can sign off on my experience . This is the experience verification path and I am aware that sometimes CPA will not count all of it as it may not entail all the competencies or the progression that CPA requires. I have also received offers from one midsized regional public firm (80 ppl) (can stay at home) and one national public firm (have to move downtown) (200+ppl). My ultimate goals is to attain the practical experience and achieve my designation, I know that working at a public firm will help me achieve this goal faster versus working in my current experience verification route. If I were to continue to work at the large private company, then I will have to send experience reports in to CPA and there is no guarantee that all of it will be verified as the large private company does not have a CPA approved program nor is my manager a CPA. Working in a public firm contains long hours with little pay. Plus being mid size firms , they won't have amazing exit opportunities. Do you have any opinions or recommendations on this issue? How can I approach my manager to ask her to recommend me to a position at head office permanently so that I can work in corporate finance without ruining my reputation? Should I suck it up and go to public for 2 years? Its a long read but any help is appreciated! [link] [comments]  |
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