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    Saturday, February 3, 2018

    Accounting Staff 1 starter kit

    Accounting Staff 1 starter kit


    Staff 1 starter kit

    Posted: 03 Feb 2018 02:39 PM PST

    Yes, the Big 4 sucks. Here is a reason why you should work for them, however:

    Posted: 03 Feb 2018 09:49 AM PST

    I've seen a lot of posts about how much the big 4 sucks. They question how anyone could possibly work in that environment or how it could be beneficial when you can just go to industry instead.

    For those who are choosing between Big 4 and Industry at the beginning of their careers, however, you should be aware that the high turnover in Big 4 is exactly it's main perk. You can rise through the ranks much quicker than industry and be a manager within 5 years, which would be a more difficult feat in industry. It is then that you can switch to industry and skip the industry grind to manager.

    Yes, the environment at the Big 4 sucks. The culture is terrible, the pay is terrible, the hours are terrible (Note: YMMV). But for those who say there is "no reason to do Big 4" and steer recruits away from it, be aware that the turnover/promotion situation is a very real perk.

    Just my 2 cents.

    submitted by /u/LiveTheChange
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    CPA's, at what point in your career did your salary hit 6 figures? (CAN/US)

    Posted: 03 Feb 2018 04:45 PM PST

    Curious to know how long it took, once you obtained your designation, for your salary to cross over into 6 figure territory. Country/city and position held would be interesting to know as well. Any input appreciated.

    submitted by /u/LVM94
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    Recording YouTube videos right now on how I launched my own successful virtual accounting business that brings in 6 figures per year. What topics do you want me to cover?

    Posted: 03 Feb 2018 01:45 PM PST

    I could be a CPA right now, or wait until June

    Posted: 03 Feb 2018 06:24 PM PST

    This is the worst feeling... just finished my last exam, AUD. I finished with one hour left. Scores for me come out Feb 23rd I think. If I failed, I'll have to wait until June since next quarter score releases are delayed again.

    Please let me be done.

    submitted by /u/koodas
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    What are some of the best private industry companies to work for as far as pay and benefits? I have no interest in public or Big 4.

    Posted: 03 Feb 2018 03:56 PM PST

    Recent grad here, just landed my first job as an accountant with a large manufacturing company. I live in a small town with very few career growth opportunities, and I plan to move in the next 2-3 years after getting my CPA license.

    What are some of the best private industry companies to work for taking into consideration: pay, benefits, work-life balance, and company culture? I'm mostly interested in companies in NYC, Denver, Portland, Seattle, or pretty much anywhere on the West Coast. Also interested in companies that won't kick my application to the curb if I'm lacking Big 4 experience.

    submitted by /u/christyw95
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    which classes are included in accounting and major GPA?

    Posted: 03 Feb 2018 01:07 PM PST

    dumb question. Im guessing major gpa is the upper division accounting, tax, and law classes. is accounting gpa then all the upper division accounting classes? what about financial/managerial accounting?

    reason Im asking is because Ive gotten A in financial, managerial, and intermediate 1 and a B in business law. so Im wondering if i could put 4.0 accounting gpa on resume even though it's 1 only classes (or 3 if financial/managerial counts).

    thanks and happy busy season

    submitted by /u/BeppeGM
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    If you could go back to College, would you still do accounting?

    Posted: 03 Feb 2018 03:27 PM PST

    Knowing what you know about working at a Big 4, industry, and smaller firms, would you still go into accounting or do something else?

    Why or why not?

    submitted by /u/hahapls
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    First Accounting Class

    Posted: 03 Feb 2018 05:24 PM PST

    If I feel confident and am doing well in my Intro to Financial Accounting class, does it necessarily mean I should manage the rest of my accounting classes?

    submitted by /u/HeshTheBeast
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    4th year finance major, considering a career in accounting (Canada)

    Posted: 03 Feb 2018 10:53 AM PST

    As the tittle suggests i'm a 4th year finance major graduating this semester. My plan had been to work at one of Canada's big 5 banks as an FSR and eventually get into the wealth management branch of banking. I'v worked as a teller for a year, and currently work as an assistant to a mortgage specialist at one of the banks on a casual basis. I have some concerns working at a bank in the long term, as in the last 2 years i'v watched some pretty severe cut backs take place in favour of automation (i went from 20 hours a week as a teller, down to 5 hours a week). The mortgage specialists boss had strongly hinted that in 10 years no one will be working in the lending side of things as automation will be used. I'm also not a fan of the sales first culture at the banks, it's often detrimental to the clients best interests.

    This has lead me to looking at a career in accounting. Now, from my understanding (correct me if i'm wrong) in order to take the CPA you don't actually need a bachelors with a major in accounting, just a bachelors degree. I believe you just need to have taken all the required courses for the CPA within 10 years, and have worked in the field for 30 months?

    I'v looked at the required courses and it looks like i'm just missing 4 of them. So my plan is to work as an FSR at the bank, while taking the required courses. Once i have the required courses i'd look for a job at an accounting firm.

    Once i'v completed the courses, where do i go from there? What does the career path look like? What is the typical salary for someone who is trying to get their CPA? Is it essentially an intern position until you have you're CPA designation? Am i at a disadvantage compared to other applicants who might have majored in accounting during school?

    I'd appreciate any and all feedback/suggestions!

    submitted by /u/MrAnders3n
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    First Exam is REG

    Posted: 03 Feb 2018 09:48 PM PST

    I am taking my first exam Thursday. It's REG and I feel a bit nervous for it. Any last minute suggestions or tips?

    submitted by /u/badgertz
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    What specifically makes public accounting experience useful?

    Posted: 03 Feb 2018 02:13 PM PST

    I guess I just don't understand coming from the industry side(entry level also). A lot of people fresh out of college do PA because they are told it fast tracks their careers, but why? I don't see how doing expense testing for 10 hours a day teaches you anything about the actual business.

    Managing people/exposure to upper management? My job involves a lot of project management and constantly interacting with managers, Sr. Managers, controller/CFO.

    To get experience for CPA credential? If you don't work in FC&R in industry, does this really matter, or it's just like having a masters degree making you stand out among everyone with a bachelors.

    Title? Leaving as a senior/manager showing you managed people vs. the same thing in industry/being able to sell yourself in an interview.

    It seems like public accounting is said to be useful for industry, just because public accounting tries to speak it so.

    submitted by /u/MarshawnManletHunter
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    Audit or tax for first internship?

    Posted: 03 Feb 2018 09:19 PM PST

    I am a year 1 accounting student in college and this summer I intend to take an internship (at a small-tier accounting firm). However, as I have no prior knowledge to tax or auditing, I have no idea which to choose. Another worry of mine is that if I take a tax internship this summer, it would be more difficult to take an audit internship after. Another question is, what is the working hours like for tax/audit interns? Thank you in advance!!

    submitted by /u/perpetualselfdoubt
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    Who actually prepares the accounts in an accounting firm?

    Posted: 03 Feb 2018 08:47 PM PST

    Will accountants be better off being independent contractors under Trump Tax Plan?

    Posted: 03 Feb 2018 08:10 PM PST

    Questions about majoring in Accounting or Finance at a semi-target business school

    Posted: 03 Feb 2018 07:56 PM PST

    I was accepted into UT-Austin McCombs business school and they apparently have a #1 ranked accounting program. I was wondering if anyone here has experience with their program and what are its pros/cons over the Finance major (which is also something that interests me).

    Thanks!

    submitted by /u/kvpop
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    Any Tips for a New Staff Accountant in Industry?

    Posted: 03 Feb 2018 07:53 AM PST

    I recently got a staff accountant position and have worked a little less than one full day in that position. I've been with the company for over 6 months though in another role. I need some tips in order to succeed in my new position. The first day I was shown the cash posting application and balancing excel sheet, so without being able to explore the balancing sheet on my own computer, it's hard to get a good grasp of how it works.

    Let me give a little run down of what I'll be doing: - Applying premium cash payments from incoming wires/lockbox/credit card payments to accounts -Write-offs & transfers of account balances (transfer as in applying a negative credit balance on an account to an account with a positive balance - thus bringing the customer account balance to zero). -Billing runs for clients (which seems to be pretty automated) -Researching aged checks (were they not deposited, not payable to us, etc.) -and some more stuff I've yet to train on.

    I've taken notes on EVERYTHING and the company also has step-by-step procedures in Onenote. I've even been researching the clients and I'm going to start studying macros and more advanced Excel techniques.

    Like I mentioned, I haven't had time to explore the balancing workbook and how it works, but I'm assuming we just balancing bank cash totals to cash applied (hence my role of cash APPLICATION in a cash receipts department).

    Does anyone have any tips and does my understanding seem to make sense? Mind you I've already been there one day, and my advantage is knowing how some of the systems work there already. I just don't want to be fired for being incompetent.

    submitted by /u/eman12771
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    Ecommerce store in CA. What is the best way to set up sales tax for our product (1 product website) that we want to sell at $25 which includes free shipping & tax?

    Posted: 03 Feb 2018 01:37 PM PST

    Is this even possible?

    I've been searching around online and am having trouble finding out how to get this going. We want people to pay $25 flat, and that'll include the sales tax & shipping. Is this viable?

    Thank you!

    submitted by /u/maparo
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    Big 4 Japanese service group experience. (JBN, JBS etc.)

    Posted: 03 Feb 2018 07:22 PM PST

    I recently got an offer from one of the Big 4 Japanese Service Groups. Although I received an offer, I am very reluctant to work with them since I am afraid of being pigeon held. I speculate that they are very isolated from the general practice and don't get much of networking opportunities. Also, I feel like they work longer hours with smaller clients compared to the general practice. Although I like the people who work in the group, I feel like I should work in general practice as they get better opportunities. As I still have chance to apply for the general practice, should try my best to get a position from the general practice?

    My worst concern is the hours

    submitted by /u/lastnorm52
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    What is something outside of school an accounting student can do to get a higher chance of interning for B4?

    Posted: 03 Feb 2018 01:05 PM PST

    Do they look for certain certificates, etc.? Thus far I have a few weeks volunteering for VITA but my ultimate goal is to work for B4. What should I do when VITA ends? I will obviously still have classes but don't really know what else to do after? I'm a senior with a year to go to graduate. Shoot!

    submitted by /u/life180degrees
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    Intangible contribution?

    Posted: 03 Feb 2018 06:53 PM PST

    I have a new company I'm setting up a quickbooks account for. One of the owners put in $10k cash. The other owner is bringing expertise and experience to the table (intangible). There is a 50/50 equity split. The owner's equity account for the capital contribution is pretty straight forward. How do I account for the equity for the other owner?

    submitted by /u/BlkStormy
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    Those on the audit side when you travel do you get to sight see?

    Posted: 03 Feb 2018 06:20 AM PST

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