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    Accounting Doctor of Accounting?

    February 01, 2018

    Accounting Doctor of Accounting?

    Doctor of Accounting?

    Posted: 01 Feb 2018 01:34 PM PST

    Quarter Pounder with Cheese

    Posted: 01 Feb 2018 01:33 PM PST

    Why did everyone love being around the accountant?

    Posted: 01 Feb 2018 09:17 AM PST

    He was the LIFO the party!

    But in all seriousness, LIFO is bad guys. Talk to your kids about the dangers of LIFO.

    submitted by /u/DDM201
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    Oldest Trick in the Book

    Posted: 01 Feb 2018 02:08 PM PST

    14 - 12 = 3? And the extra point is worth 2?

    Posted: 01 Feb 2018 07:43 PM PST

    Nail meet Hammer.

    Posted: 01 Feb 2018 11:10 AM PST

    Manager says I need to train intern better...

    Posted: 01 Feb 2018 06:38 PM PST

    How to ghost tick without getting caught?

    Posted: 01 Feb 2018 08:40 PM PST

    Turns out deadline to submit 1099 MISC forms were yesterday if filing box 7. Any way to avoid the late penalties? Can I fax them? Or apply for a waiver/abatement?

    Posted: 01 Feb 2018 04:58 PM PST

    I own a small LLC. For some reason I assumed 1099 MISC forms had to be sent to the IRS one month after they're due to the contractors. Turns out they're both due January 31/yesterday. And the penalty is $50 per form. I'm sending 8 so that's a pretty frustrating sum ($400) that I can't afford to lose. Any way this fee can be waived?

    I know for the business returns there's a one-time abatement/waiver that I applied for last year (I also did not know of the date change from April 2017 to March 2017....I know, I'm a bit of a mess). But could I apply for something similar for the information returns?

    Thanks!

    submitted by /u/benitopjuarez
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    MFW they make us work until 1 AM and expects us to be in exactly by 8 AM...

    Posted: 01 Feb 2018 06:38 AM PST

    Investment Bank Operations vs Big 4?

    Posted: 01 Feb 2018 06:37 PM PST

    I'm a 3rd year accounting student, and I was dead set on doing public accounting audit (didn't get any internships though), but I recently got an interview with Goldman Sachs for their operations summer analyst program in Salt Lake City. I was planning on doing a masters in accounting and going onto big 4, but if I get this position, I'm not really sure anymore

    I know that it's not IB or anything, but I was wondering if anyone had experience in going into bank ops vs public accounting audit in terms of exit opportunities and overall career progression. thanks

    submitted by /u/orange_juice__
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    My first year in industry!

    Posted: 01 Feb 2018 07:09 AM PST

    I just had my one year anniversary!

    Background: I was in public accounting for three years working for BDO in tax. The job was exactly as I had planned for. I knew going in, the hours were going to suck so I wasn't blindsided when I had to pull 100 hour weeks. I learned a lot and was on a good track towards management. However, the hours finally caught up to me. I found myself really out of shape and had no motivation to do anything but work. I was referred to an analyst position in F500 company and took the opportunity!

    Pros: 1. The hours! Even during month, quarter, and year end close, the hours are so much better! I commute an hour to and from, but even with that additional time, I worked less. This really helped me focus and get back to better personal health. 2. Opportunities! Do I want to stay in tax forever? Maybe, maybe not. Being in a F500 provides a lot of inter-department opportunities to experience something new. 3. Pay - better pay and benefits. My bonus % is so much more than public. Also, the company has an automatic 401k contribution % even if you chose not to put any. It replaces their old pension they used to have.

    Cons: 1. Social environment - it's different. In public, you will always have that young, fresh out of college, new associates group, or the fresh interns. Social events were a lot more fun! I like the people I work with now, but everyone has more work life separation (I hate using balance), so they spend more time with family. 2. Organization - YMMV on this one. The organization of work papers, document indexes, flow of work, etc is messy...I miss a lot of the standardization in public. 3. Downsizing...you're subject to company performance! I just survived my first and it was scary being the newest guy here. It's hard to see people being let go because of cost cutting instead of merit. So even though accounting is a pretty secure job, at a F500 company, you're still subject to downsizing.

    Those are just some points from my first year experience in industry! Again, this will vary between companies! I would love to hear some of your experiences. And to those in public, good luck on busy season! Don't try to kill yourself, the work will get done!

    submitted by /u/mr74
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    BIG 4 ranking in Canada

    Posted: 01 Feb 2018 07:11 PM PST

    Hi guys,

    Are there any Canadian CPAs that either work/worked in one of the BIG4 or have gone straight into industry that can give me their (hopefully honest) opinion on the BIG4 rankings (prestige/reputation) in Canada?

    I know that at the end of the day, BIG4 is BIG4 but I want to know if there are some differences in among the firms in Canada.

    Thank you!

    submitted by /u/cancanaccountant
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    Is it true that PwC is the only big 4 that require associates to work 3 years instead of 2 years to be promoted to senior?

    Posted: 01 Feb 2018 06:18 AM PST

    Was watching a vlog about big 4 and she said that basically you typically work 2 years as an associate and then get promoted to senior, except for PwC which was 3 years she thought.

    Anyone know if this is true? If so, anyone know why?

    submitted by /u/accounting247
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    Raise your scotch glass high if you worked from home this week and/or are working from home now

    Posted: 01 Feb 2018 12:31 PM PST

    On lunch, whats good people? Still in my pajamas. Going to get a slice of pizza and a beer in a bit then "return to work".

    submitted by /u/GovtACCTmasterRACE
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    Just took AUD ama

    Posted: 01 Feb 2018 01:27 PM PST

    Relaxing at home rn

    submitted by /u/isdcaptain
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    As a geek I hated accounting but you can thank me later for this one

    Posted: 01 Feb 2018 07:58 PM PST

    [Serious] People that like their accounting job, how do you find a sense of purpose?

    Posted: 01 Feb 2018 09:36 AM PST

    I have been super depressed at work for a while now. I'm the accounting manager for a small company and although I'm good at my job, I feel no sense of purpose in it. When I think of the big picture, all I do is record other people's money and do menial tasks for them that need to be done. It's just a big list of annoying chores. I just don't see what the appeal is, other than a steady schedule.

    So I'm curious what other people enjoy about accounting.

    What motivates you? What gets you out of bed in the morning?

    submitted by /u/HellBentForMetal
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    What is the better career path to a financial over sight position (CFO) account or finance?

    Posted: 01 Feb 2018 10:40 PM PST

    Hi! I am a soon to be graduating Canadian business student with career aspirations to work in a finical planning or oversight position of a large firm (CFO). I'm trying to figure out the best career path to get there. From what I've learned it seems it's possible to go the accounting or financial analysts route to gain applicable experience but I'm not sure which would be better. I enjoy both accounting and finance and get very good grades in both subjects. I want to either pursue my account designation (CPA) or finance designation (CFA). I currently have a public accounting internship this summer. What do you guys think?

    submitted by /u/Ninja654321
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    Transfer from Waterloo AFM to Brock BAcc?

    Posted: 01 Feb 2018 10:15 PM PST

    I am considering pursuing an accounting degree

    Posted: 01 Feb 2018 06:18 PM PST

    Hello everyone. I would like to thank those of you taking the time to read my post.

    I am currently attending community college (part-time). I am undecided whether to pursue a 2-year degree or go for a 4-year degree. At the moment I am working on my pre-requisites for the dental assistant program (1-year program), the deadline for applications is a week after the end of the current term. If I do well this term I will be eligible to apply for the program. After I graduate from the dental assistant program (work about 2 years in the field) my plan is to apply for to a dental hygiene program.

    One of the reasons I am leaning towards the dental assistant program is because it is a one year program and the pay is not bad. But on the other hand, there are no growth opportunities for dental assistants, which is why I plan on becoming a dental hygienist. But lately, I have been contemplating the idea of pursuing a 4-year degree. I have looked into various degrees and accounting looks to be the best route. I have not taken any accounting classes yet, I plan to take an introduction class next term.

    What I look for in a career is growth opportunities, a decent salary (35k or above) and, time for hobbies. Does accounting meet the criteria?

    submitted by /u/Juan2three456
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    Ex Big Four obsession with hours worked?

    Posted: 01 Feb 2018 10:45 AM PST

    Why are exbig four and or regional accountants obsessed with amount of hours put in?

    I work 45-50 a week and get all assignments completed. Yet, it feels like the expectation is really 60 hours.

    Boss is a former PwC senior manager.

    submitted by /u/TechyAccountant
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    Need help finding "Net Operating Profit after Tax" (NOPAT)

    Posted: 01 Feb 2018 06:13 PM PST

    I am trying to find the Net Operating Profit after Tax for 2009.

    Here is a picture of the Income Statement. The more I search online, the more variations of the NOPAT formula seem to pop-up. I know the answer to this problem is "$484.00" but I have no clue how to get there.

    Any help would be greatly appreciated.

    submitted by /u/domtym
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    Is partner still interested in my candidacy?

    Posted: 01 Feb 2018 09:27 PM PST

    Back in fall, I was looking for an entry level IT audit position (still am). I'm involved with a local ISACA chapter, but long story short, another chapter from another city sent my CV to a partner at a small firm.

    The assistant of the partner contacted me to set up an in person interview with a partner (I had to travel 2 hours to get there). In the initial email she sent, she never said that there is an open position, but just mentioned that the partner wants to meet me, discuss "future opportunities" and the firm. When she sent out the invite, the title was "IT Audit Opportunity."

    In any case, in my mind I thought that there was an open junior position. Otherwise, why they invite me for an interview? I met the partner. Very nice guy and I thought everything went really well. I was the only candidate. I got a positive vibe from him. He just mentioned that he would talk with the other partner and see if there's enough work to add me to their team (me thinking, why didn't you ask him before meeting me?). He also said it could take up to a month to hear back. I then sent a thank you email.

    I actually wanted the position, and I found the partner really nice. So I couldn't wait any longer. 2 weeks later, I sent an email to the assistant asking her for an update on the decision and see if any progress was made. She didn't reply. A day later, the partner replied to my thank you email, said that he had a discussion with the other partner, no opportunity to hired me in the short term, but that they will keep me updated if things change. That was exactly 3 months ago and I've haven't heard back from him since then.

    What do you make of this?

    submitted by /u/1sep1969
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