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    Saturday, April 28, 2018

    Accounting Goodbye Public Accounting

    Accounting Goodbye Public Accounting


    Goodbye Public Accounting

    Posted: 28 Apr 2018 10:15 AM PDT

    After 6+ years in public accounting I'm finally escaping to industry (health care finance).

    I worked 85+ hours per week as a Tax Manager this year. Enough is enough. I'll never be yelled at again by a trust fund baby again. It's not my fault that you're too stupid to manage your own trust fund as trustee of your own goddamn trust.

    Adios amigos.

    submitted by /u/bjs210bjs
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    A cap at today's graduation

    Posted: 28 Apr 2018 08:06 AM PDT

    Drinking the Kool-Aid: essential office stationery starter pack

    Posted: 28 Apr 2018 06:03 AM PDT

    Me after busy season.

    Posted: 28 Apr 2018 03:15 PM PDT

    Genuine thanks to people who help in B4

    Posted: 28 Apr 2018 08:30 AM PDT

    Just a shoutout to those people (peer advisors/coaches/random co workers) in B4 who help train experienced hires and reach out to them and introduce them to people in the office. You guys may not realize it, but it's the world to us new guys coming in

    submitted by /u/Make2dancer
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    What is the sketchiest thing you've done or witnessed on an audit engagement?

    Posted: 28 Apr 2018 10:17 AM PDT

    Can anyone actually ELI5 how tf an audit works?

    Posted: 28 Apr 2018 06:23 PM PDT

    I've been in public for seven months and an objectively intelligent individual. But I just can't wrap my head around how an audit works. I'd write more, but I've had a few (many).

    submitted by /u/LargeTicket
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    Salary

    Posted: 28 Apr 2018 09:28 PM PDT

    I'm currently making $18/hour as an AR analyst. Is this decent? I have a bachelor's degree in accounting. Should I be making more? What job titles should I be looking for? As of right now, I'm improving my English skills because English is a second language for me. I'm also learning Excel by watching YouTube videos. Thanks for your feedback!!

    submitted by /u/Himaonlinestore
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    Graduation Day

    Posted: 28 Apr 2018 07:47 PM PDT

    Wake up, today's the day, been waiting your whole life for this

    Your as excited and anxious as ever

    Can't wait to get your degree, and start your career

    Always told you can be anything

    Caps saying, oh the places you will go

    Excitements traveling through the air

    Not a single person in despair

    Cause once you put on the gown

    Just like a cloak, it makes the sadness disappear

    You put your best foot forward

    Walk up on the stage and everybody's watching

    They tell you to everything's gonna be okay

    Smile for the camera, hold up your degree

    Today's your day, It's graduation day

    Will I ever succeed, please show me the way

    Pass the CPA, get your masters degree

    The firms will line up for you, is what they say

    So I drank the Kool-Aid, bought all of the lies

    And they didn't even look my way

    Come graduation, everyone's telling you congratulations

    Even though you feel like a failure, that wants to give your valediction

    But it's ok, cause once you put on the gown

    Just like a cloak, it makes the sadness disappear

    You put your best foot forward

    Walk up on the stage and everybody's watching

    They tell you to everything's gonna be okay

    Smile for the camera, hold up your degree

    Today's your day, It's graduation day

    submitted by /u/Lil_GAAP
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    [CAN] Essence of Auditing?

    Posted: 28 Apr 2018 04:52 PM PDT

    Hello everyone,

    I will be starting my new job as a junior auditor shortly. My previous jobs were in taxation, so I would like to get some heads-up about auditing from more experienced people.

    Any kind of tips would be greatly appreciated.

    submitted by /u/Individual_Brick
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    First year Audit staff

    Posted: 28 Apr 2018 02:05 PM PDT

    Hi peeps,

    Can anyine give me an idea of what a first year staff auditor does on a day to day basis. I know this has been asked before but I still have no idea what to expect because I seem to get vague answers (which is understandable because every job is different). I managed to get into a mid teir firm with 0 experience so I'm going in blind. I have a few basic questions, but if anyone has any more input, I'd love to hear

    • Are inventory counts typical work being a first year?

    • When out at a client, is there a lot of interaction with the client, or more so with the team?

    • Do teams typically eat out?

    • As an introvert it worries me that ill be an outsider, can any introvert auditors weight in on that? I can fake it but it can take time for me to get truly comfortable.

    • Do you make a lot of phone calls or is it all face to face interaction (I suck at phone calls)

    • What do women typically wear?

    • Any more things that I would be expected to do on a daily or weekly basis?

    Apologies if this is an overasked/annoying question

    submitted by /u/greenberrysmoothie
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    Wondering about Forensic Accounting

    Posted: 28 Apr 2018 02:36 PM PDT

    Hello, fellow r/Accounting redditors. I am looking for future career opportunities in the forensic accounting field. I will be going to college next year and I am trying to pursue a double in major in Accounting and Information Systems. When looking into possible career choices Forensic Accounting struck me as a great career and sorta a way to help out society to. What companies would be the best to work for in this career choice or should I go into the FBI or other govt agencies, and if I do go the FBI route what do they look for and would I need to go through special agent training? And is the a good double major for this career choice or should I think of changing one of them?

    submitted by /u/BDSLars80
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    How to Put Two Weeks Notice at Big 4?

    Posted: 28 Apr 2018 02:20 PM PDT

    Hi everyone, I'm planning on putting in my two weeks notice this Monday at a Big 4. Who should I email to inform them of my imminent departure from the firm and how does the process go?

    Also, I'm on a client that hasn't yet filed, but after these next two weeks I have a week of training and 1.5 weeks of PTO before the last week of the audit. They shouldn't get mad at me for leaving before filing, right? I couldn't find an answer in previous posts so please forgive me if this has been answered before. Thank you!

    submitted by /u/babylonianprince94
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    Managerial Accountants/those working in private- what does your work day look like?

    Posted: 28 Apr 2018 08:22 AM PDT

    Hello-

    I am interested in hearing from accountants who didn't take the public accounting route (particularly less-experienced accountants). What do your responsibilities entail? What is a typical work day like for you? My internship turned into a full-time position this year, and I'm just curious how my responsibilities compare to others in similar positions. My title does not yet have the word "accountant" in it, but I'm hoping it will by the time I graduate & want to make sure what I'm doing aligns with that, in case I need to argue my case with my boss/HR after I graduate!

    submitted by /u/hellosunshine12345
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    Best CPA prep?

    Posted: 28 Apr 2018 04:41 PM PDT

    I'm looking at online reviews that weighs the cost and results between all prep materials and most seem to point towards wiley but I have an opportunity to get becker (all 4 sections+final review) for a good discount(about $2k). Gonna be free this summer to study full time then starting Macc in the fall. Would appreciate feedback and/or your own experience with different preps

    submitted by /u/alexwee456
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    LinkedIn

    Posted: 28 Apr 2018 06:50 PM PDT

    How important has in been for your career? Do you consider it a necessity or no? Thanks for the feedback.

    submitted by /u/Mo1459
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    Transitioning out of Big 4 Audit

    Posted: 28 Apr 2018 08:32 AM PDT

    I'm in my 4th year at a big 4 firm, slated to promote to manager in about a year. The problem is I am pretty miserable and wanting a change. I'm wondering if anyone can give me insight on the best way to transition out of Big 4. My end career goal is to be a CFO of a small company.

    My current options/thoughts are: 1. Take a global services internal audit position (manager level) with a Fortune 500 company. The position would allow me to use my Japanese skills. I thought this may be just enough of a switch up to keep me in the audit field a little longer.

    1. Switch to advisory within my same firm. This requires a lot of travel and I have a young baby at home, so I'm not sure how I feel about this.

    2. Switch to an entry level type position in finance. I feel like I'm more interested in finance, but at the same time I feel like I don't know what I would enjoy outside the world of auditing.

    3. Suck it up until manager and then switch to something like technical accounting.

    Any thoughts/advice would be appreciated. Thanks!

    submitted by /u/rougeclover
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    Medical expense deduction for REG

    Posted: 28 Apr 2018 09:38 PM PDT

    Hey guys which percentage are we getting tested on? 7.5% or 10%?

    submitted by /u/interdastingdoot
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    Is it weird to pick a public accounting firm based almost exclusively on location within a city? (picking firm A over B, mainly because it's located in the heart of downtown).

    Posted: 28 Apr 2018 09:05 PM PDT

    I'm seeing an upcoming fork in the road. The firm in the middle of downtown (where I also aspire to live), pays about 5% less than the same size firm located more in the suburbs.

    Am I crazy for picking the firm downtown? I want to live and work in the middle of my city. I don't want the daily commute. I don't want the traffic.

    submitted by /u/TillLater
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    Opposed to helping with recruiting on a moral basis?

    Posted: 28 Apr 2018 01:19 PM PDT

    So I was asked to return to my old school to help recruit, however I'm very conflicted. I'm in 'Risk Advisory' (internal audit/it audit) and the firm [b4] (really all firms) blatantly lie to students saying that it is consulting work. I like my line of service and firm, but I can't wrap my head around helping them recruit through lies. I've already tried letting them know I'm not interested in going to the career fairs, but they're pushing me to because I'm one of few from the firm who attended said school.

    What do i do?

    submitted by /u/zasjfdkhakfjshakf
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    Failed courses in university...

    Posted: 28 Apr 2018 11:47 AM PDT

    [Ontario, Canada] Failed intermediate and managerial accounting II in 3rd year. Any advice? should i try to take the course again? just graduate? can i get a respectable accounting job with just my degree and no CPA? Im still interested in accounting, just not doing so well when in exams. Any advice or encouragement would be great. Thanks

    submitted by /u/StraightOutOf_Guelph
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    Firm transcript questions

    Posted: 28 Apr 2018 08:30 PM PDT

    Accepted internship offer at national firm, no mention of transcripts. Already completed background check and drug test. Are they going to ask me for my transcripts or nah? And if so will they pay for them because transcripts are like $200 at my school which is a scam.

    submitted by /u/IllustriousUse7
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    Anyone have issues with the REG Authoritative Literature?

    Posted: 28 Apr 2018 11:53 AM PDT

    REG is my last exam, and I've been really frustrated with the way the AL works for this exam in particular. In FAR and AUD I never had issues finding the right code sections, but REG has been a nightmare, and I can't seem to get any better at it. It seems like Becker's search function for the IRC is much worse than the other codifications, because even when I search the keywords given in the solution, the relevant section is almost always one of the last ones listed. Almost all of the ones listed are completely irrelevant. Earlier, I was searching for partnership basis and all of my top results were about low-income housing credits and random individual tax stuff.

    Is the real test this horrible? I never had such a big issue with the other exams, and it's really starting to worry me.

    EDIT: Another example. I searched "Terminate S Election", and the correct code section didn't even come up. Becker's keyword was "S Corporation Termination". I feel like these should've been similar enough to have almost the same results, but the correct section only came up with Becker's keyword, and it was halfway down the second page of over 40 results. It looks like it's sorting them numerically rather than by relevance, which is total bullshit.

    submitted by /u/ieepsolos
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    What do interns do?

    Posted: 28 Apr 2018 07:09 PM PDT

    So I'm going to be interning at a midsize firm who probably doesn't have the same resources as big 4. So I imagine most interns need to do real work. What would I be expected to do day to day?

    EDIT: IT Audit service line

    submitted by /u/caelum52
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