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    Friday, March 2, 2018

    Accounting Every year when half the department quits

    Accounting Every year when half the department quits


    Every year when half the department quits

    Posted: 02 Mar 2018 09:20 AM PST

    Getting home on a Friday during busy season.

    Posted: 02 Mar 2018 03:50 PM PST

    When you're doing recruiting looking at all the interns and first years your going to give you work to.

    Posted: 02 Mar 2018 03:31 PM PST

    I'm sure it's there somewhere

    Posted: 02 Mar 2018 08:55 PM PST

    Today was the day

    Posted: 02 Mar 2018 09:19 PM PST

    Cut my resume in two pieces

    Posted: 02 Mar 2018 07:11 PM PST

    Would love to know how to attach the darn thing

    submitted by /u/ecupatsfan12
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    When should you let your employer know about your new position.

    Posted: 02 Mar 2018 07:22 PM PST

    So as of Tuesday, I received an offer to be a junior accountant at a digital marketing start-up. When should I let my current employer (big 5 bank) know about the new position and give my two weeks notice. I haven't even got a chance to negotiate salary yet nor sign a contract. Just got email confirmation that interview is good and that I should come in on Monday to discuss specifics.

    Should I give my current work a heads-up tomorrow? Or after I sign the contract on Monday? I will be at this job likely till I graduate post-secondary. (1.5years)

    submitted by /u/Musclechu
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    My accountant made an error in forming my LLC. I now face thousands of $$$ in penalties. Can someone give me an idea what comes next?

    Posted: 02 Mar 2018 05:24 PM PST

    (I apologize in advance if I misuse some lingo - I'm not a CPA.)

    I paid my accountant to form an LLC a few years ago. Just me, no partners, no employees.

    The company tanked within a few months. That was 4 years ago. I was told that there wasn't a pressing need to dissolve the company as it was a disregarded entity.

    Fast forward to last week...

    I get a notice in the mail for state taxes saying I forgot to file a form. I don't prepare my taxes, I pay someone else to do it. This got me looking into my records and I noticed something odd in the formation documents, so I called the IRS out of caution to see if my accountant forgot to file properly with them too.

    My accountant apparently decided to opt that my LLC be taxed as a corporation, and was therefore not a disregarded entity (this is according to the IRS spokesperson). I think he signed me up as an S-Corp. I absolutely did not ask for that and it makes no sense that I would want that given the small-scale nature of the business.

    The IRS rep said I should have filed a form 1120 for federal corporate tax for the last 3 years. Year 1 of the business I used the same accountant who setup the business to file my taxes. No 1120 was filed that year, only 1040 Schedule C. So not only did they sign me up for something that I didn't want (S Corp apparently), but they didn't even file correctly based off of their own decision - unless I'm just off base for the filing requirements...

    The IRS told me to send them a letter to a specific department to explain the situation. They said the penalties are $200 per month for not filing the 1120. They said I'm most likely eligible for first time abatement - I've never had any issues with the IRS before.

    I don't know what I should do at this point... Should I send them a letter? Should I call the accountant? Should I hire a lawyer? I've been absolutely blindsided by this...

    submitted by /u/livingthenitemare
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    Chronic slacker/underachiever on path to CPA, seeking advice (long post) (serious, not a shitpost)

    Posted: 02 Mar 2018 10:42 AM PST

    So I have a useless humanities degree which I received ten years ago and never used. After graduating, I worked a couple of crappy low-paying warehouse jobs where I did the bare minimum and never got promoted. I got fired from the last job for getting into an altercation with another employee. After that, I decided to become a NEET for a couple years because I hate working (just being honest here).

    During that time, I got a part-time, under the table job working for a sole proprietor CPA and I'm really uncertain what to do from here. Its just a weird situation. The only reason I am staying is because the owner said he would sign off on my work experience when it comes time for me to take the CPA exam. (I'm one year from completing an an AA to reach the eligibility requirements for the CPA exam in my state)

    After working for him for a little over a year, I'm still not doing anything other than basic data entry, filing monthly/quarterly sales tax and CAT returns and things that a trained monkey could do. The owner is not a native English speaker and is not good at explaining anything so that's one reason I don't do anything complicated. I'm doubtful I will have any work experience under him that will impress a future employer. I want to leave, but like I said earlier, I am hoping he will sign off on my work experience for the CPA exam because I dont think I will be able to find another CPA who would (and even if I did, I'd still have to start back at square one) so I'm stuck here for now.

    However, am I being unrealistic in thinking I will be a proper CPA once I pass the exam? Ive gone through my states requirements multiple times and to my knowledge I'm on the right path towards eligibility but between that and my crappy work experience, it just seems too easy - almost fraudulent. Seems like most people here are in school for accounting at least 6 years (4 undergrad + 2 post-grad) and have serious work experience before becoming CPAs, whereas I'm just doing 2 years at CC and my work experience is this PT job which is basically more like a crappy internship. I just feel like the accounting equivalent of Saul Goodman taking this unconventional route towards my CPA license.

    My only goal after passing the exam is to find a job where I can just crunch numbers and do data entry while listening to podcasts all day. If I could make 40k or more a year, I would be absolutely elated. Is this unrealistic? I'm too old and introverted to work in Big 4 so that's out of the question. I keep hearing tax is good for introverted weirdoes so thats the direction I'm leaning in. What does r/accounting think? What would you do if you were in my shoes?

    submitted by /u/NotSure6969
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    Question on how to master Excel as auditor

    Posted: 02 Mar 2018 04:49 PM PST

    How do I quickly master all the excel short cuts and equations?

    I hate it when I still make errors when doing vlookup :(

    submitted by /u/nalratoss
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    Cheap office wear

    Posted: 02 Mar 2018 03:20 PM PST

    Where can I beef up my business professional wardrobe the cheapest?

    I have just been using my one suit jacket for career fairs and interviews, matching it with several different dress pants. I'm about to be in an office though and would like at least 1-2 more jackets, maybe another pair of pants or two. On that budget though ya know.

    I try to hit goodwill but honestly when you're a 34-36 in suits it's really hard to find something that small. It's always 40+

    What are some good places?

    submitted by /u/nonsjwthrowaway
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    Advice for a recent graduate with no experience who is about to meet with a CPA potential employer?

    Posted: 02 Mar 2018 09:18 AM PST

    Here's a little background on me. Absolutely no accountant family members or acquaintances. I'm a nobody who had to get an online education because I was working fulltime (please, no opinions on online educations. It was an accredited school, so don't worry about that). So I haven't even had networking opportunities through my school or anything. And I've never been able to find an accounting or accounting-related job

    I've been calling around, asking different accounting firms if I could ever meet with them to introduce myself. A lot of them just sent me to the voicemail of the hiring director or told me to go to their website. None of these places have job postings currently.

    But today, I got a call back from one saying he'd love to meet with me next week. He warned me that they're not hiring right now, but they never know when they could use some extra help or if an opening comes up. This made me very happy and excited!! Even if they're not hiring right now, I'll finally have my first conversation with a CPA who might consider me in the future!

    As excited as I am, there is no denying that I'm also metaphorically shitting my pants. I'm not the best when it comes to networking, but it's something I want to actively work on improving. Any tips you guys could give me would be so appreciated. Things I could consider saying? Things to make sure not to say? Any other insights? Thank you!!!!

    submitted by /u/Bethanyjcoolio
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    Struggling with career, need guidance

    Posted: 02 Mar 2018 04:04 PM PST

    I can't seem to keep a job. I'm 3 years out of college. Only had one okay job, the rest were crap or temp, and none lasted over 6 months... I'm in a mountain of debt with money running out.

    Applying for jobs is also hard; I'm in a large town (<70000) in east TN with barely any accounting jobs. I moved here to support family, but I should've been a shoo-in for the A/P, A/R, payroll positions with my state school accounting degree. No one has replied after I applied online. One even said no because "I had a bad reference." I'm not sure what I'm doing wrong.

    I don't know what to do. Despite an unstable job history I still have decent hands-on experience (SAP, pivot tables, basic tax prep, audits, bank reconciliations, journal entries, etc.) At this point I am wanting to get certified (CPA? CIA?) for audit or government jobs and move to a big city. New York or San Jose? Dallas or Nashville? Would it be more of the same? I need help to try and figure all this out.

    submitted by /u/ForMoolah
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    Accounting As Heroism - David Foster Wallace

    Posted: 02 Mar 2018 11:31 AM PST

    Manager vs Staff

    Posted: 02 Mar 2018 10:33 AM PST

    How much of a difference is there between manager and staff positions in regards to daily/overall work duties, work satisfaction, work-life balance, etc. (Both public and industry) Also, how much "leading" are accounting managers even able to do?

    I've worked in environments where managers know the most about the ins-n-outs of the job and company as a whole while they continue to work "in the trenches". So they're like normal staff just with more experience and a bit of added responsibility. I've also worked for companies where managers do very little direct work and mostly just manage the team and make higher level decisions. Those managers tend to not understand all the gritty day-to-day job details that staff would.

    I'm genuinely interested in the differences but I'm also here for the best sarcastic comments I know r/accounting can provide.....

    submitted by /u/NWTurtle
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    FAR Exam in 2 days

    Posted: 02 Mar 2018 07:10 PM PST

    Hi all,

    I just took a Becker mock Exam and I got 48%. My FAR exam is in 2 days. I have done my best studying so far till now and it seems like I still have ways to go. I feel so disappointed in myself, its like I did not even study for the past 2 months. I understand I can always take it again, but I don't want to give up and I want do my best in 2 days.

    I got about 48 hours to study. In addition to practicing more MCQs, does anyone recommend anything else?

    submitted by /u/studentsdoze
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    Big Four HR is playing with my Life

    Posted: 02 Mar 2018 06:47 PM PST

    I started working at a b4 firm's satellite office in a tax group that I wanted a little over a year ago. I started with four other new hires. The main tax group is in the city but they thought having a team in the satellite office would work.

    Well it didn't.... assignments were mostly given to the associates actually based in the city (ok makes sense. I guess it's easy to develop and teach a new hire with face to face contact instead of through a computer). We would get work often but not enough. Because of this my chargeable hours dropped and I was getting emails from HR telling me to get them up.... even though I would reach out everyday.

    I got really fed up (I hated having seniors/managers having to explain something to me through the computer) so I decided to move closer to the city and transferred to the office where the main team sits. I thought this would be better for my career. NOPE still not enough work for me. HR and my career coach forced me into a rotation in another tax group that is absolute hell. My reviews were great so it's not like I was performing poorly. I am getting more work to do and I am fully utilized but it is not something that I want to do. I even found the hr contact person in the tax group that I wanted to transfer but she said there weren't any openings.... even though there were new hires this year. I work with people remotely AGAIN. So transferring to the bigger office and rearranging my entire life was completely pointless.

    I don't really know anybody in the office because I don't work with anyone here. All of my new hire friends who started with me quit within the first year. I literally go into the office and get no actual human contact. It's starting to get extremely sad especially because I don't get to see my family due to my 2hr a day commute. There are days where I don't even talk. I like talking to people and making friends so this sucks for me.

    Has anybody here gone through something like this? What should I do?

    I graduated from a decent school and I am a CPA. I've been talking to recruiters at another b4 firm for a position that I want. But I'm nervous that this shit show would happen again too?

    TLDR: B4 HR is playing with my life. I transferred offices to be closer with my team but they pushed me away. I'm trying to develop but nobody is listening. I don't work with anybody in the office because my seniors and managers are in other offices. Work environment is extremely depressing because all of my friends at work quit. What to do??

    Ps: I made a reddit just to talk about this. I read this page when I get lonely at work. I hope you guys get through busy season and all of your troubles!

    submitted by /u/Brosephio-Johnson
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    Free Talk Friday

    Posted: 02 Mar 2018 07:01 AM PST

    Finally, on March 2, I'm finally feeling the stresses of busy season. The small firm life continues to be a blessing and a curse.

    For my peeps at the bigger firms, now that the first wave of deadlines has passed, do you guys have a bit more time to breathe?

    Oh yeah, CPA Exam Score Releases are less than a week away. How are the exam candidates feeling about their chances at passing?

    submitted by /u/TurboSandwich
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    Consulting?

    Posted: 02 Mar 2018 04:48 PM PST

    Anyone make the switch from audit to consulting? I'm a junior i ug. Planning to slide into my schools MAcc program. Audit is interesting to me, so I'm hoping to start there and see what happens. Not sure of where, but we'll see.

    Anyways, I'm just curious about consulting honestly. Has anyone gone from public to consulting? I'm not really trying to get into the topic of long hours or travel, I'm just curious about alternative options like that as opposed to my current plan to grind it out for as long as I can in audit and then apply to whatever good exit opps present themselves like it seems everyone ends up doing. I'd probably be content with my current path, but I'm a chronic brainstormer in regard to work and future, so here's my mind wandering.

    submitted by /u/hhaessleraquino
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    Anyone work in EO?

    Posted: 02 Mar 2018 08:31 PM PST

    I'm going in for an interview with EY for the tax exempt organization group. I'm doing as much research as I can, but I was wondering if anyone here has first hand experience doing this type of work. What does the daily tasks comprise of, etc?

    submitted by /u/Hanahn
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    Should I really go into Accounting?

    Posted: 02 Mar 2018 08:26 PM PST

    Hi, 20F here. I'm graduating with an AA in Accounting soon and I'm having doubts. I want to go for my Bachelors but should I try an MBA program too?

    I live in Tampa and an AA will at least get me a $14-17/hr job while I get my Bachelors. I just have a couple questions and maybe you guys can help ease some of my worries/doubts.

    Have any of you gotten your degrees online? Is an online degree bad for this field, did it make your job search difficult? Is there any advice you think I should have before going into this field? Should I even go into Accounting? Is it really as bad as everyone says it is? It's all I've ever wanted to do since I was 14 but you all sound so miserable in your posts lol.

    Anything helps. Thank you in advance.

    submitted by /u/AmidstMYAchievement
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    If I like taking risks, is accounting a good major? What is a good "high risk, high reward" degree? I also have autism for your information and would be an older student.

    Posted: 02 Mar 2018 08:21 PM PST

    My interests include getting the hell out of my abusive home. I would sell crack on the streets but I am thinking of doing something more legal.

    What would you suggest I dedicate my soul, energy, and 1000% of my autistic superpowers towards?

    And while a lot of my writing is tongue-in-cheek, I seriously need to get the fuck out of my situation.

    submitted by /u/life_reject_all
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    If your employer gave you the option to work 10 hr days Mon-Thurs instead of 8 hr days Mon-Fri would you do it? Why not why not?

    Posted: 02 Mar 2018 08:14 PM PST

    Trick question. None of it actually matters! During peak season, you're working everyday day till midnight (including weekends) at the very least until the damn report is finally signed off. What hours they give you officially is irrelevant lol

    submitted by /u/blackupsilon
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