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    Wednesday, January 3, 2018

    Accounting The first stage of grief: Denial

    Accounting The first stage of grief: Denial


    The first stage of grief: Denial

    Posted: 03 Jan 2018 02:24 PM PST

    I am taking Reg this afternoon. Mom was diagnosed with cancer a week and a half ago after exploratory surgery due to pain. Pathology came back this morning: Stage 4B

    Posted: 03 Jan 2018 07:41 AM PST

    I'll end up deleting this.

    But GOD DAMMIT.

    submitted by /u/TillLater
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    Submitted my 2 weeks notice at an Industry role, managers want me to finish all the work till the end of the month before I leave.

    Posted: 03 Jan 2018 04:40 PM PST

    We have a month end close cycle every month which takes a total of 4 weeks to finish each month. Two weeks of 40 hours a week, and then 2 weeks of 55-60 hours a week. I submitted my two weeks notice during the two non busy weeks so I wouldn't have to work the crazy hours before i leave. Managers want me to finish the whole months of work before I leave, expecting me to stay late and work weekends. Is this ethical? It seems like they want me to do 1 month of work while only paying me for the 2 weeks that i'm here.

    Multiple managers are literally breathing down my neck and asking for status updates every 45 minutes. I feel like I am being taken advantage of.

    Do I need to stay the full 2 weeks? What happens if I just quit before the 2 weeks?

    submitted by /u/flippingnoob
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    I’m a student majoring in accounting and looking to take an online course to teach me what I️ need to know about Excel. Any recommendations?

    Posted: 03 Jan 2018 03:24 PM PST

    I'm a sophomore accounting major trying to get an internship this summer, so I figured this would be a good way to learn the ropes and boost my resume. I don't have to learn from an online course; if there are any books or video series that you guys recommend, then I'd love to hear about them. Anything with a certification or something I can put on my resume is a bonus.

    submitted by /u/emg0d
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    Accountants who didn't network at all in college how did you get your first job and what was it?

    Posted: 03 Jan 2018 12:31 PM PST

    I hear a lot of people talking about networking and how important it is I just wanted to know what it's like or how the process of getting a job looks like without it.

    submitted by /u/forestgather50
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    Only 4 months in at Big 4 and I have a feeling I should jump ship

    Posted: 03 Jan 2018 03:33 AM PST

    I doubt anyone in my office even knows what Reddit is because they are that bland, but just in case I'm using a throwaway.

    Started at Big 4 in the fall. I was originally planning on staying until manager and didn't understand why people would leave after only 2 years. Apparently I was swimming in that DT koolaid.

    I got put on our office's largest client which happens to be a year long engagement, so I'm there every single day (and I don't know anyone else from my office except my current team because of it). I really loved it at first: my hours were consistent, and I was happy to have my own desk. I was getting a lot of great feedback from my team, even overhearing my seniors tell others at events how much they like working with me!

    And then I took PTO and shit hit the fan. I'm not sure why everyone got so weird about me being gone, but I was told from someone on my team it was because I took PTO for personal reasons and not for my CPA exam (???). Super odd. Anyway.

    So I get back from PTO (3 days) and the vibe is completely weird. No one is talking to me anymore, which has been difficult for me because I'm very social and sitting at the desk all day not speaking is driving me bonkers. But also because it didn't make sense. It was just 3 days of PTO during our slowest month and it was approved at multiple levels months beforehand.

    I've noticed now that I'm being assigned busy work instead of the normal assignments that the other first years are working on. Additionally, I was supposed to go out of town for a project and found out at a team lunch that a different first year got assigned to it instead. Maybe I'm being paranoid but I feel like shit is about to hit the fan for me.

    I've worked in multiple industries before accounting, and I've done well at every job I've been at. I'm extremely passionate about working and I love keeping busy. It has surprised me just how political public accounting is and I feel like I'm too snarky to play along with the game to stay in for the long haul that I planned on.

    The feedback I got from one of the seniors is that they wish they could work on every assignment with me, but because we became friends he also disclosed that my "main" senior (that I have only done check-ins with and have not done any work papers with) had rated me as a low performer in my snapshot. Which also surprised me because no one at any point has mentioned that I need any improving. Well - I did have a senior tell me to ask questions even if I know the answer so that it can appear like I am doing more work.

    Sorry for the vent - I just have this bad feeling that my team is making me not like working there so that I leave on my own accord. Should I be looking into a backup plan?

    submitted by /u/UncleD-is-Saucy
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    Switching Firms

    Posted: 03 Jan 2018 08:58 PM PST

    I often get the question of how hard it is to switch between firms. Being someone who has never done it, how hard is it for someone in their first 2 years to go from one firm to the next? Perhaps a mid size to a big 4 or vice versa?

    submitted by /u/throwawayacc12210
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    [CAN] New D2L Website Design

    Posted: 03 Jan 2018 08:32 PM PST

    Not sure whether I hate it quite yet...any thoughts?

    submitted by /u/ead09
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    Recommend start studying for the CPA while in undergrad?

    Posted: 03 Jan 2018 10:00 PM PST

    I graduate this December with my B.S. and start my MAcc next January. In my state, you're qualified to sit for the exam with only 120 credits; licensure is at 150. I wanted to knock all 4 sections out by at least mid 2019 while my undergrad knowledge is still fresh, starting with FAR in Jan.

    I was wondering if some people might have experience with starting ahead. I don't want to wait until I finish my MAcc before I start taking the exams.

    submitted by /u/Magpie_Flyfish
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    Any other accounting students (or accounting degree graduates) who have done finance internships? What's it like and what career possibilities are out there?

    Posted: 03 Jan 2018 09:23 PM PST

    Just got a finance internship in a Fortune 500 company. I'm an accounting grad student with absolutely zero relevant work experience... and I'm pretty sure I only got the position because I know how to use Power BI.

    Anyways, has anyone been through a similar situation? I don't know what to expect/what is expected of me or what opportunities there are for accounting graduates in financial analyst and business intelligence roles. Any insight is appreciated!

    submitted by /u/tsukiii
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    If I take a 5 unit (semester) language class would the total units count for the 150 unit requirement for CPA?

    Posted: 03 Jan 2018 09:20 PM PST

    I know this might be a dumb question. If I could do this then I only need to take three 5 unit classes instead of taking five 3 unit classes since I only need 15 units of random classes to get to the 150 units (California).

    Also can I take the class Pass/No Pass (i.e would this count or do I have to do letter grade)?

    submitted by /u/freedybox
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    Does trump's new tax thing benefit single people

    Posted: 03 Jan 2018 09:10 PM PST

    Is there a higher deduction for single people or does it just help rich folks?

    submitted by /u/accountingstuden
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    How do I quit my job?

    Posted: 03 Jan 2018 06:31 AM PST

    I've worked at a private firm for the past 18 months and have decided that now is the time to pull the trigger and progress my career.

    I personally don't feel too bad about leaving at a relatively bad time since my firm had recently fired a bunch of people and I could've been in the same boat. I also don't care too strongly for maintaining any bridges since i'd be moving onto a completely new industry and have stronger connections outside.

    I do, however, care about my team and acknowledge that they are normal people, with families, etc. They've been extremely patient with me during my time here and have treated me with the utmost respect so i'm a bit torn between leaving and making the moves that i need to make and staying to accommodate a smooth, seamless transition for the team.

    How should I go about doing this? Is there anything I should emphasize or look out for if I decide to leave soon rather than later?

    submitted by /u/SmittyWerbenjagerNo1
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    If I quit...(big4)

    Posted: 03 Jan 2018 08:42 PM PST

    Do I lose my health insurance right away? anyone know how long the coverage usually last? what are the option after? thanks!

    submitted by /u/aimhigherovo
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    Path To CPA

    Posted: 03 Jan 2018 06:17 AM PST

    Hello all. I am wondering what paths people used to get their CPA later in life. Personally, I am 36 and an A/R manager for a large company. While they actually take very good care of me my growth both internally and externally has been limited by not having a CPA. I opted to go and get a MBA a few years back which was probably the wrong move. My issue is that I would need to take additional accounting classes to get all the credits needed to even sit for the exam. The work isn't the issue it is the cost as I have already invested heavily in the MBA. I have found accounting certificate programs what would work but $8k is the cheapest so far. Any thoughts on a frugal way to do this?

    Thanks.

    submitted by /u/Ajh91481
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    Possible conviction for first DWI coming soon. Could I lose my job?

    Posted: 03 Jan 2018 08:19 PM PST

    Last year, I was arrested for the first time of my life for DWI. My results were .082 BAC. I'm having my plea hearing in two weeks. I will go to trial if the offer by the judge is not reasonable. I would hate to lose my job over a stupid mistake like this, and only .002 over the limit.

    I am still a student (graduating with MBA in May), did an internship last spring and got an offer to start full time in Jan 2019. Also planning to do CPA exam this year as to start full time with all or most sections done.

    While I have already signed my offer letter accepting the job, I'm wondering if they would have the motive to terminate me after this incident. I have read that a first offense is usually not detrimental to your job, but since I am still a student, I don't want to lose the first position, or even future positions, of my career because of this.

    Also, I would hate to ask my firm to pay for Becker after telling them this has happened.

    Does anyone have any experience with this?

    submitted by /u/Garinatorsch55
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    [CAN] Hearing Back From Background Check?

    Posted: 03 Jan 2018 08:17 PM PST

    Hey all,

    A month back I was asked to do a background check for a new job. It said it would only take a few days and I would be contacted if they needed more info. I haven't heard anything back. I'm wondering if people generally hear back that they've been approved, or if no news is good news. The check only asked for basics such as my name, address, SSN. It did not ask for past employment details. Thanks!

    submitted by /u/Guru---Laghima
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    As a student with no previous accounting experience, how do I fill up my resume?

    Posted: 03 Jan 2018 08:07 PM PST

    I'm preparing my resume for Summer Leadership Programs this summer and I have no idea what to put on my resume. I've filled In the obvious education (Major, minor, gpa, related courses) and experience (IT support, camp staff). But I don't know what else to put on there. So I have a few questions.

    1. I'm considering heavily double majoring in BIS but I'm going to minor for sure. Should I list BIS as double major or minor. (I've completed coursework for it)
    2. Should I list restaurant experience?
    3. Should I bullshit a "skills" section listing that I'm proficient at excel and excellent at communicating?

    Will post resume later

    submitted by /u/RedneckWilly
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    [US] CPA vs Master's in Taxation?

    Posted: 03 Jan 2018 08:04 PM PST

    In 2016 I graduated with a Bachelor's in Finance. Since graduation I have been working in Corporate Treasury. Being that my company pays ~$10k a year for education, I have slowly been chipping away at a second Bachelor's in Accounting to stay productive. Thru the duration of my accounting coursework, I have developed an interest in Tax (specifically International). Besides pursuing a Tax position, what would you all advise as the best maneuver for getting on the Tax career track? Which of the two options below would provide the best jumpstart?

    1) Pursue the CPA as I will have the required 150 hours or b) Pursue a Master's in Taxation (from a top 10 program)

    I appreciate any insight that can be given.

    Regards, RR

    submitted by /u/Revenue_Recognition
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    Making money w/ Photography: Hobby or Business?

    Posted: 03 Jan 2018 07:36 PM PST

    I'm looking to know, as a college student who wants to make money to pay for things like textbooks and new camera lenses, that if I can use my photography as a part-time job but not an established "business." Right now, I see myself working on and off on certain months, and I'm certain as heck won't be working more than twice a month.

    I want to make sure that I'm not just taking people's money illegally and that I would have to pay things like sales tax (NJ) or report income tax to IRS. I do not plan to make as much money as professionals do, but I have to make sure if I would still need to operate like one (licensing, establishing legal entity, etc.)

    Hopefully I did my homework correctly:

    The NJ Division of Taxation says that "If a photograph is either scanned, taken with a digital camera, or computer-generated and then transmitted solely by email or other form of electronic transmission, the transaction is treated as the sale of intangible property, which is not subject to tax."

    Therefore, if I am electronically sending images to a client via a file sharing service, I also do not have to add sales taxes to the total package price? I don't need to add NJ sales tax to my "package" system I use to charge clients?

    Also...

    "Travel expenses, hours worked, or any method of computing the total charge to customers is subject to Sales Tax. These charges are considered a part of the sales price of the taxable tangible personal property for sale."

    I include a "travel fee" in addition to the total because I only plan to commute using the bus into and out of NYC. Does this mean that I do not need to apply sales tax to the travel fee?

    Source: Professional Photographers & New Jersey Sales Tax

    So many confusing things..

    Edit: added my "homework"

    submitted by /u/Nomeso
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    Advice for a student

    Posted: 03 Jan 2018 03:43 PM PST

    I was just wondering if there are any opportunities I should seek taking as I am about halfway to my bachelor's (business admin with focus in accounting). I am going to transfer next fall, hopefully, to a CSU (california state uni) for the last two years of college. When should I be studying for my CPA? I am currently at 80 units. What about interning? Any big steps I should be taking at this time? I don't feel like I understand accounting very well, as I've only taken 2 courses so far, and am working on transferring out of community college as a priority. Thanks!

    submitted by /u/onionBABY
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    Recommendation for small firm tax software?

    Posted: 03 Jan 2018 01:07 PM PST

    Anyone who works at a small firm or tax outfit care to share their experience with the software they use or recommend? Looking to purchase something to make some easy money from the common man's 10 minute tax return and I'm going to undercut H&R Block like a mafk

    submitted by /u/SodaSpark
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    Homework help: journal entry question

    Posted: 03 Jan 2018 03:11 PM PST

    Hi r/accounting,

    I came across this transaction while doing homework and I'm having trouble figuring out what to record in the journal. I would really appreciate some guidance!

    The transaction given:

    "Purchased storage racks for $12,000. Paid $3,600 cash, provided moving services for $1,500, and promised to pay the balance in 60 days."

    What I have so far is a debit to Moving Equipment and a credit to both Cash and Accounts Payable. The part I'm stuck on is "provided moving services for $1,500" as this is my first time seeing a transaction that involves a partial payment for a purchase through providing services :S

    Thanks in advance!

    submitted by /u/sleepylittlelamb
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    Exam Study Tips - 1 Week Out

    Posted: 03 Jan 2018 06:53 PM PST

    Hello everyone, I was hoping that some of you could provide me with some advice and guidance for tackling this final week before my first exam. I'm taking BEC and have been studying with Becker and Wiley. I've completed all of Becker over the past few 3.5 months during my first semester at school, mind you it was pretty spaced out. Currently I've been going through all the Wiley assessments and diagnostics via their 2 week free trial.

    I'm finding that I do decently well on MCQs (90%-100% on Wiley assessments and ~80% average on Becker Progress Tests consisting of B1-B6 material) but have issues with the computations on some TBSs. I feel that if I continually do the same TBSs I may just end up memorizing the answers and cheat my way through the actual process. I'm trying to fight through self doubt and negativity when I butcher a sample TBS and stay positive.

    Any advice on whether I should change my methods or if you think this is beneficial will be greatly appreciated. Also, advice on how to tackle the WC portion...

    Thanks!

    submitted by /u/Kboose4
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