Accounting Tips for new managers |
- Tips for new managers
- Public accounting to curling - good career move?
- Rather fail with honor than succeed by fraud.
- How I feel sitting in the office this Saturday
- It’s 8pm on a Saturday
- Mfw going through the “Financial Instruments” lecture in Becker FAR
- How's everyone holding up?
- What do you do when you can't get the cash flow statement to work?
- Sitting for FAR today. The kicker is that I haven't studied since I got a 74 last summer.
- The only reason I picked accounting was the fact that I hate working and wanted to retire early as soon as possible. Now I am dreading that the only way to early retirement is in a body bag with this horrible cult-like profession. What the hell guys? What is going on anymore?
- Please help me understand. (New accounting student)
- Leave $60k job with large company for promotion to $70k job with small IT company
- “Spreadsheets never disappoint”. - Warren Buffet
- Dear r/Accounting - Best Advice You Could Give To A Guy Starting Over?
- What are some things that employers expect of you as a staff accountant?
- Is 1 year+ an okay amount of experience?
- Industry to Industry Switch? Done it? Liked it?
- Nobody has been able to tell me exactly what a subledger is.
- How to catch up in understanding accounting?
- What is Intermediate Accounting 1 like?
- Hardest accounting class
- Should my parents claim me as a dependent?
- Potential new role - Budgeting and forecasting process?
| Posted: 24 Feb 2018 12:34 PM PST Yesterday I posted asking what I can do to make seniors/junior's lives easier as manager. Ironically I ended up with a private message from a senior who is up for manager promotion asking for advice. Copy paste dump below of message - perhaps it'll improve someone's audit life somewhere in the world a tiny bit. Forgive the rambling writing style & keep in mind this isn't authoritative - it's just my take on it. EDIT - thanks for the gold kind stranger
I'd suggest thinking of it in terms of behaviours. Here's a random list:
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| Public accounting to curling - good career move? Posted: 24 Feb 2018 08:44 AM PST With the recent success of the US men's curling team in the Winter Olympics I believe now is the right time in my career to make the switch. I make about $68k right now and read curlers make over $100k a year. Has anyone done this before? Any advice on making the switch? What are the benefits like? [link] [comments]  | ||
| Rather fail with honor than succeed by fraud. Posted: 24 Feb 2018 09:40 AM PST
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| How I feel sitting in the office this Saturday Posted: 24 Feb 2018 01:04 PM PST
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| Posted: 24 Feb 2018 05:04 PM PST Is anyone else still at the office? Does my company pay for an additional meal if you work all day? Is this even real? So many questions to be answered, so little time. [link] [comments]  | ||
| Mfw going through the “Financial Instruments” lecture in Becker FAR Posted: 24 Feb 2018 06:32 PM PST
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| Posted: 24 Feb 2018 11:23 AM PST As the title says, how's everyone doing? We're a little less than halfway through the storm, so keep your chin up, and you'll make it through alive! [link] [comments]  | ||
| What do you do when you can't get the cash flow statement to work? Posted: 24 Feb 2018 02:43 PM PST I love the dank memes like the rest of you, but I have a real question for a change. I work at a small firm where you do some of everything. My audit experience is pretty slim, and I've been given a governmental audit. I was able to do the audit by just doing what was done last year (because that's what I was told to do instead of actually being shown how to do this audit). I'm doing the financials now and the cash flow statement is off by $129 and I just can't figure out where it is. Clearly this isn't material, but I want to make sure it's right. What would you do? [link] [comments]  | ||
| Sitting for FAR today. The kicker is that I haven't studied since I got a 74 last summer. Posted: 24 Feb 2018 08:48 AM PST I was going to lose the Q1 window anyway. Let's do this. [link] [comments]  | ||
| Posted: 24 Feb 2018 07:12 PM PST I am going back to experimenting with hypnosis + LSD to really fuck over my conscious mind because this tedious bullshit is so annoying. My reality is about to get jack-hammered to all hell. I was constantly suicidal BEFORE accounting but this is making death feel like a paradise. No thoughts? No emotions? No existences? NO spread shits? No bastards and bosses? SIGN ME UP, YO. Clears throat How is your Saturday going? [link] [comments]  | ||
| Please help me understand. (New accounting student) Posted: 24 Feb 2018 08:52 PM PST Hello, I am a new student in the accounting world. I am taking my first accounting class ever and I have done fairly well understanding the material, until now. I cannot, for the life of me, get my brain to understand corporate bonds. Specifically the pros and cons of purchasing at a premium. One of my assignments is to write a memo to a customer telling them that their desire to purchase bonds at a premium is a good/bad idea. Our class text isn't very clear and google has only confused me more, so I turn to the ever trusty redditors. Can someone break this down for me. Seriously, explain it like I'm stupid, because I feel massively stupid when it comes to bonds. Thanks in advance! [link] [comments]  | ||
| Leave $60k job with large company for promotion to $70k job with small IT company Posted: 24 Feb 2018 06:47 AM PST I'm a CMA, CPA (Canada) that currently makes $60k/year in an intermediate role in industry for a big company that has over 5000 headcount, $3 billion in revenue. Been there for 2.5 years in the same level role, switched to a different area of the business a few months ago. Low COL area in Canada too. Job is a Senior Accountant/Assistant Controller position at an IT company that is well backed $350 mil capital. Headcount is around 40-50 people, $10 million revenue/year, looking to grow to over $50 million in 5 years. Salary is $70k/year + bonus. I'd be doing coordination and execution of close process, prepare monthly statements and quarertly board report packages, support IFRS audit, manage risk/enhance accuracy of reporting procedures, participate in projects like new ERP implementation, and budgeting. I've weighed the pros and cons, and come up with the following: Pros:
Cons:
Thoughts? [link] [comments]  | ||
| “Spreadsheets never disappoint”. - Warren Buffet Posted: 24 Feb 2018 06:17 AM PST From the 2017 annual report regarding the forecasting of synergies. WB knows how we roll. [link] [comments]  | ||
| Dear r/Accounting - Best Advice You Could Give To A Guy Starting Over? Posted: 24 Feb 2018 05:20 PM PST Hello everyone, This is going to be incredibly hard to write for me, but I'll try to put it in the least amount of words possible. I firstly want to admit it was entirely my own fault I am in this position. I can't blame anyone, but the circumstances didn't help much. I suffered from social anxiety issues, severe depression, and background that left me guideless in this type of world. All this was compounded by my obsession with making something of myself because I am the only child out of three that does not have a severe mental disability. My parents are old, my professors retired, and I've found companies to be cruel. I need help, I want to work and find a good job. I graduated May of 2017 with a degree in Business Admin with concentrations in Accounting & Finance. My grades were decent, I was involved on campus and off, I spent my time abroad wisely, and I worked my butt off. However, despite the fair amount of interviews I had gotten I ended up with no leads to a full-time job. I interviewed okay with the very few firms that gave me feedback, I was always close to getting the job from those that told me. I've found difficulty in the past few months. When I did get job interviews I often felt the people were cold and I wondered what type of candidate did they want? I would often have to write large firms to get a denial letter which I found humiliating and honestly puts me off from working in larger firms. Most of the interviews happened last year. I often send out twenty plus resumes not to get a reply but the larger firms seem to respond (I live in central NJ) I feel my biggest mistake was taking the summer off from job hunting in order to figure out what i wanted to do and get my head straight. I got sick for an entire month between December and January, missing many tax season cutoffs. I caught the flu and was bedridden for three weeks, contracting other sicknesses that compounded. When it came to building my business connections I had an easy time making them, harder to maintain. I have a stack of business cards with directors from Chase, departments of UN, US Gov, Vice Presidents of J&J, and yet I find difficulty asking for help. I do not know how to network the way people that grew up with white collar parents do. Should I reach out? Even if it's been a year... I don't know. My final issue is I do not have enough money for the CPA and study materials. They cost several thousand dollars which I don't have... (Student loans, car issues, medical, etc) I am about to finish my 150 credit requirement by May. What experiences can any of you share with me to reach my goal of being employed at a decent position? There are so many jobs but only a few won't be dead ends. Please r/accounting can you help a guy like me? [link] [comments]  | ||
| What are some things that employers expect of you as a staff accountant? Posted: 24 Feb 2018 07:43 AM PST Currently I am a student, no degrees, no CPA, limited experience. I have some general experience with a year of accounting courses and I manage a small flooring business in San Diego. I am looking for greener pastures. What are some things that are music to an employers ears when they are interviewing you? I am so new to the field, so I would definitely appreciate some input from you guys, as you have way more experience in the field. tldr; Is it financial statements? Software? Tax? What in general do employers really want from their accountant? [link] [comments]  | ||
| Is 1 year+ an okay amount of experience? Posted: 24 Feb 2018 08:10 PM PST I'm currently working in B4 Tax and it's crushing me every single day... It pays very well, prestigious, and my entire family loves it that I work there. But I can't handle another peak season now that I've experienced my first and it's not even the peak of it yet (April). I'm planning to resign this December and I'll have 1y 4m of work experience by then, but I'm worried anything under 2 years would come off as a red flag to potential employers. [link] [comments]  | ||
| Industry to Industry Switch? Done it? Liked it? Posted: 24 Feb 2018 12:29 PM PST As the title reads.... Have you switched from Industry to industry? What was the switch like in salary, responsibilities, titles? Have a college buddy that went from public > controller in industry > controller of larger industry company... He's stayed at the last spot for awhile now and I'm wondering if he's capped out. He's a few years older than me and seems happy, but he still has 30+ years of work left. I guess some options for him would be Director of Finance/VP of Finance, Director of Accounting, CFO, etc..... However, I don't know who these roles are typically filled by. Do these director/CFO roles get filled by outside industry professionals.. Or do they normally get plucked from higher level public accounting professionals? I'm personally in public, so my pathway is kind of designated already, or at least a little more structured and somewhat guaranteed. I hear all the time about how industry is a LOT slower with raises, promotions, etc... Is that still the case when you're higher up like he is? I don't think his current company has much room left above him, so any advancement for him would probably be switching employers. He is a CPA. Anyone had a similar experience? Have more insight? [link] [comments]  | ||
| Nobody has been able to tell me exactly what a subledger is. Posted: 24 Feb 2018 03:43 PM PST Hello auditors - can you tell me what you consider a "SUBLEDGER" is in public accounting? Think specifically in a context of a large conglomerate. Could it just be an excel sheet? Would it be an SAP trial balance pull? What is it. I was a finance major. [link] [comments]  | ||
| How to catch up in understanding accounting? Posted: 24 Feb 2018 02:56 PM PST So I've posted about this before but did not get many responses so I am asking again. I am majoring in accounting and am currently a senior. I had my first accounting class two semesters ago and did not do well in it (I scored an A, but a lot of that was just submitting homework assignments due to help from Chegg). I was using Chegg more as "monkey see monkey do" rather than actually learning, and now, I have extremely limited conceptual understanding of accounting. Stupid, I know. But, I was going through a lot with depression, family issues, and mental health. I'm currently still going through some of those things, but thankfully, things are better. However, I am now in Managerial accounting and we are now on two chapters passed exam 1. The sad thing is, although I fell behind in my first accounting class, I began doing the same for this class. I was searching answers, etc. Just a few days ago, I snapped out of it, asking myself what the heck I was doing, and now I have woken up but need to know how to fix this issue I got myself into. I need to learn the material that I didn't grasp understanding of previously and keep up with the material that I currently have. However, I don't know the best way to go about doing this because a lot of concepts I'm currently dealing with do require some understanding of previous chapters/content. Facts: I do own Schaum's Outlines which does cover principles of accounting concepts from my first accounting class. That's about all. I am looking for advice as to what to do because at the end of the day, I want to be a competent accountant, not just somebody with a degree and no knowledge. Please help! [link] [comments]  | ||
| What is Intermediate Accounting 1 like? Posted: 24 Feb 2018 06:39 PM PST So i am going to take it next semester and I really have no idea what to expect. All i really know is that it builds off the basics of financial accounting. What should i expect before i head into the class? [link] [comments]  | ||
| Posted: 24 Feb 2018 06:21 PM PST I'm only 2 classes into my accounting major and wondering which accounting class I will probably be crying my way through? Which was the hardest for you? [link] [comments]  | ||
| Should my parents claim me as a dependent? Posted: 24 Feb 2018 01:59 PM PST Financially speaking, would it be more beneficial for my parents to claim me as a dependent or not? Some quick info on my situation for 2017:
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| Potential new role - Budgeting and forecasting process? Posted: 24 Feb 2018 04:48 PM PST So I'm currently working as an Accountant (things like consolidation, elim entries, intercompany type of work, etc.) and have an interview for an Analyst role more on the FP&A side. The potential new role has tasks like developing and maintaining budgeting/forecasting models, CBA for new business proposals, variance analysis, KPI reporting and analysis, etc. with a little bit of accounting work as well (e.g. accruals). I want to be as prepared/knowledgeable as possible, but I've never really done budgeting and forecasting directly before. I work with our FP&A group and know they meet with the business to get the details, and use Hyperion Planning for the software side. They do reforecasts regularly (like a 2 + 10, 5 + 7, etc). But that's really the extent of my knowledge of their process (I plan to ask/shadow their process so I can become more knowledgeable about it). Anyways, would anyone be able give an idea of what the actual process is for budgeting and forecasting - how do you actually do it? I know it will vary a lot from company to company, but just to get an idea from someone's practical experience would be great. Thanks! [link] [comments]  |
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