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    Accounting When Tim Gearty is Lecturing

    April 29, 2018

    Accounting When Tim Gearty is Lecturing

    When Tim Gearty is Lecturing

    Posted: 29 Apr 2018 05:10 PM PDT

    $33.3 million missing from Philadelphia’s largest cash account, City Controller Rebecca Rhynhart called it “unacceptable”

    Posted: 29 Apr 2018 09:35 AM PDT

    Revision has begun.. any tips for ACCA F7?

    Posted: 29 Apr 2018 09:49 AM PDT

    Got a $15k raise and a promotion today

    Posted: 28 Apr 2018 11:15 PM PDT

    I started full time work in public audit a year ago (part time for another year during school). Today I was promoted to senior, and I just wanted to share the good news with you all!

    It's been a long road for me to get here - I was homeless after dropping out of university to work as an electrician, only for the recession to wipe out the industry. I joined the Army and worked with drones in Iraq/Afghanistan to pay for school round 2. School as a full blown adult with a wife and three kids was a more sobering experience.

    We're a small firm and we had a senior burn out during busy season, in a year where we almost doubled our clients. We somehow managed and I got a $6k bonus for surviving. We're hiring 3 new guys and I'll be helping to train them.

    I know they would have preferred to hire someone with more experience, but there's some real opportunity in this tight labor market to make a name for yourself. I hope this inspires you guys to work hard.

    submitted by /u/easyj86
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    Tips for dealing with stress/anxiety

    Posted: 29 Apr 2018 03:19 PM PDT

    Hey all,

    Currently a senior associate at a big 4 firm and have survived most of busy season. Have performed relatively well, only issue is that I feel as though I am constantly worried about the amount of work that is pending and can never truly enjoy off-time. Does anyone else have this problem? What were some of the ways you've alleviated the issue?

    submitted by /u/busterbaxter123
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    Easy - High Paying Accounting Job - Accounts Payables?

    Posted: 29 Apr 2018 08:31 PM PDT

    Is the role of A/P manager a pretty low stress decent paying accounting job. Thinking about taking a A/P manager role that pays between $80k-$100k.

    Looking for a 9-5 job that doesn't require much overtime or any travel. My home life responsibilities are my focus now.

    How much over time or month end long hours can be expected in the A/P department?

    submitted by /u/Awakeat5amagain
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    Tax season is almost over - I bring you Frank...

    Posted: 29 Apr 2018 06:21 AM PDT

    [CAN] What are my post B4 options?

    Posted: 29 Apr 2018 05:55 PM PDT

    I'm expecting to qualify later this year and am starting to consider what my exit options are. I'm not sure what I want to do or how can I figure out my long-term goals (i.e. the goal up to now has been to get my designation). I don't really know if I want to work towards being a CFO or something else. Is a start up or large corporation better? Do I stay until manager? Do I aim for a manager position or SFA-type role? Then there's also the mentality of going out and trying something totally different like... project management, product manager, operations etc. How can I find out what I want to do without having experienced positions other than audit?

    Right now, I want better hours, short commute but still a challenging environment that isn't client facing. Part of me is concerned that if I don't continue to "hustle" and I settle for a job with better hours, then I'll fall behind.

    tl;dr I don't know what I want to do after big 4, what are my next steps?

    submitted by /u/33account
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    why is deprecation and amortization reported as an addition to net income?

    Posted: 29 Apr 2018 05:44 PM PDT

    Breakup with sizable co-investment. Need advice on how to fairly split proceeds on unsold (but highly appreciated) property.

    Posted: 29 Apr 2018 07:30 PM PDT

    I'm splitting with my partner and want to fairly divide proceeds on an investment property to which we have both contributed that has appreciated substantially. The nature of the investment was a sizeable sum from each of us (down payment + rehab) up front a few years ago, then some additional investments by each of us over the last few years for repairs. The property is not yet sold (and may not be sold in the near term) but I am trying to derive a fair formulation to provide my partner with an equitable return on their investment to essentially buy them out. I consider myself mathematically inclined but I am running into a roadblock in how to structure this.

    My recommendation for my partner was to just buy them out at a favorable return based on their date of each investment. I basically looked at each contribution they made as an independent investment starting on the day of contribution and ending today, with 25% annual interest (arbitrarily decided), compounded monthly. I figure this is a generous and simple way to buy them out without requiring sale or too much math. However, they believe that their actual return should be higher, which is why I am interested in developing a more thorough valuation based on time and amount of investment compared to the overall asset appreciation.

    Some details:

    • I have a ledger of the amount and nature of all contributions from each of us (see example table below)

    • We are not married or cohabiting. My partner is not legally on the deed and has just transferred money to me informally to invest on their behalf. I am not interested in coming out ahead, I just want to arrive at a fair solution.

    • I know the price it was worth when I bought it, and the price the property is worth today.

    • There have been miscellaneous income/expenses for the property. I have recorded a sizable on-paper loss for every tax year I've owned it, and this has come out of my accounts.

    • The time component is important to me because the majority of my investments were a long time ago, and my partners investments were much more recent.

    Example data:

    Date Amount Payee
    15 Apr 2014 $10000 Person 1
    20 Apr 2014 $35000 Person 2
    12 Oct 2015 $6000 Person 1
    20 Dec 2016 $5000 Person 2

    How would you go about doing this? Is there a better way here? Thank you in advance for any advice.

    submitted by /u/ColdPorridge
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    Help on Reg while using becker.

    Posted: 29 Apr 2018 01:54 PM PDT

    I have used becker to study for FAR and it took me alot of time to understand the concepts. I failed it once and took it again last week. I realized maybe I am using Becker wrong (I watch the lectures and jump right into MCQ, as reading the book usually puts me to sleep and I tend to not understand anything). Would you guys have any suggestions on how I tackle REG using Becker?

    submitted by /u/EmpRay
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    Quick question with cash flows using indirect method.

    Posted: 29 Apr 2018 04:25 PM PDT

    First year student somehow managed to get a job offer as a junior accountant, unsure how to proceed.

    Posted: 29 Apr 2018 09:52 AM PDT

    Hey guys, I'm a student in Australia currently negotiating through my degree. I'm in my second semester of my first year and recently I saw a job ad for a small firm (60ish employees) looking for an undergrad accountant. The job ad didn't preclude me so I thought I may as well have a go and somehow I managed to get an interview. It went alright, the partners I spoke to seemed like normal people and a week later I was offered a job as a junior accountant (35k salary). That offer is still in the air but I'm just unsure how to proceed.

     

    So I can take the job, which sounds amazing because holy shit I have a job, and I figure having a job at this stage is a decent headstart for my career. But on the other hand having a job now prolongs my degree for a while as at best I can do two courses a semester instead of the usual four. Also this place that has been kind enough to offer me a job would probably frown upon me looking at trying to get a nice internship at a bigger firm while studying. Also this place has national affiliation with other firms around the country, but doesn't really enjoy shipping out employees to other cities (and I do want to move to another city in the future, something I mentioned in my interview).

     

    So yeah, I'm not sure how to proceed. I'm not sure if I should take this job straight away and try and pretend I know what I'm doing or hold off for now and try for a mid/large tier sized firm down the track.

    submitted by /u/SutureTheFuture
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    Can Someone Give Me an Accurate Example of How Many Work Hours to Expect in FS Audit with a Big 4?

    Posted: 29 Apr 2018 04:22 PM PDT

    The time to pick my industry is coming up soon. I really liked my rotation onto FS clients during my internship but have been told by many people that FS audit has the worst hours? I was working 60 hour weeks for the most part on my FS clients during busy season and didn't think it was bad at all, though I've heard busy season in FS is timed and spaced differently than other industries? For anyone with experience on that matter, what can I reasonably expect during busy season and off-season if I choose FS?

    submitted by /u/BTHOvapes
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    Offer: Gleim CMA review material

    Posted: 29 Apr 2018 01:26 PM PDT

    Free & I will mail it to you (US)

    Sixteenth Edition. I have Part 2: Financial Decision Making and the how to pass success guide. I just moved and will try to find Part 1 to send too.

    Might be a stretch that anyone here wants this but I figured I would offer it before I toss it in the recycling bin. Thanks.

    submitted by /u/kaleandquinoacat
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    CPA PERT prior experience [CAN]

    Posted: 29 Apr 2018 06:21 PM PDT

    Hi guys, I'm going through the experience verification route and starting core 1 next week.

    I have 1 year of prior experience as a staff accountant which I gained during my internships when I was still in university.

    When I signed up for CPA pep they sent me an email to complete the pert profile etc. I never paid attention to it. The email also says i might lose that experience if I didn't file the report within 90 days.

    Has anyone ever been in the same situation? Did I just lose a year worth of experience?!

    submitted by /u/canuckssingh
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    Wanted to prove a point. Didn't try in uni past semester and got put on a academic prohibition. So I have 2 semesters to kill till December and was wondering what in terms of accounting can I do like a small program or what not which can help me in near future.

    Posted: 29 Apr 2018 09:29 PM PDT

    something online so I could work on the side and do it. thanks alot😄

    submitted by /u/Grediner
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    looking for a good bookkeeping app

    Posted: 29 Apr 2018 08:51 PM PDT

    Having Some Problems with Final Exam Review

    Posted: 29 Apr 2018 12:58 PM PDT

    3 years experience in industry with a CPA, what should my next move be?

    Posted: 29 Apr 2018 06:07 AM PDT

    Currently a senior accountant at a small company making 60k a year. I live in Detroit Michigan. I dont mind moving, as I'm single and young.

    What type of positions should I be looking for and what sites should I use?

    What salary range should I seek?

    submitted by /u/newcfchome
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    How do I Zero out Opening Balance Equity in Quick books ?

    Posted: 29 Apr 2018 12:54 PM PDT

    I have a negative balance in OPE account in quick books. The balance was entered as the beginning balance of a credit card at the beginning of the year. Has anyone dealt with this before?

    Apologies if my explanation is not very clear.

    submitted by /u/muryardalili1
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    I Need to Interview Someone in Industry

    Posted: 29 Apr 2018 07:57 PM PDT

    I am working on an employment outlook assignment for my technical communications class and would love to interview someone who is currently working as a corporate accountant. As a current student pursuing a B.S./M.S. in Accounting I would also love to gain some insight as it will greatly influence the path that I decide to take. I have posted the questions below. Feel free to message me privately if you would like to help me out. :-)

    Thank you in advance!

    Interview Questions - Accounting

    1. What made you decide to choose to pursue an education and career in accounting?
    2. How many years of accounting experience do you have, and what industry do you currently work in?
    3. What were the steps you took to land your first accounting position?
    4. What level of education did you complete, and is an advanced degree needed for your current position?
    5. What do you wish you had done differently, if anything?
    6. What advice do you have for a senior accounting student?
    7. What skills do you think are necessary to succeed in the field?
    8. Would you recommend starting in industry or public? Why?
    9. After graduation, were you prepared to work or did it take some time to learn on the job?
    10. How do you think automation will change the profession?
    submitted by /u/impulsive_me
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    Graduating soon and hoping to sit for the CPA exam, but I haven't taken corporate tax or business law. Should I take these online or just use the exam prep material to study from?

    Posted: 29 Apr 2018 07:48 AM PDT

    I don't need the courses in order to sit for the exam or to get my license in my state. However, I just found out these topics are covered on the REG portion of the exam. Given how difficult I found individual tax, I'm worried right now. Will Becker or Wiley have enough study material that I can just use that and skip the actual classes?

    submitted by /u/cpahelp554
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    Was I told wrong about the 18 month window?

    Posted: 29 Apr 2018 07:23 PM PDT

    https://i.imgur.com/g8VKyPF.png

    I've been told many times that the window starts on the day you actually take the first exam that you end up passing which, for me, that was 8/8/17. But the TSBPA is telling me the credit doesn't expire until 3/19/19. I noticed that the score was "Ratified" on 9/19/17, which is exactly 18 months prior to 3/19/19.

    So, is it 18 months from the day you take the test, or from the day the score is ratified?

    submitted by /u/Hashi856
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    Is it worth it to leave, learn a new role, and basically start over a different company? Let me know your thoughts.

    Posted: 29 Apr 2018 07:20 PM PDT

    I am looking for career advice. I am one year out of very large public university and have an accounting degree. I am also currently pursuing my CPA.

    I have had a lot of previous internship experience, both private and Big4;

    For nine months, I have been working as an Associate Financial Analyst at a Fortune 500 company (my dream company) . Recently, I have been invited for an interview for a Senior Accountant job at a Larger Fortune 500 company.

    Both companies are great and the benefits are about the same. I would take an increase in comp, from 54ish to 65ish.

    submitted by /u/evilina3
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