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    Saturday, May 5, 2018

    Accounting Congratulations to everyone graduating!

    Accounting Congratulations to everyone graduating!


    Congratulations to everyone graduating!

    Posted: 05 May 2018 09:21 AM PDT

    I’m pretty sure the answer is A, right?

    Posted: 05 May 2018 11:53 AM PDT

    Shootout to Intermediate II...

    Posted: 05 May 2018 07:40 AM PDT

    For you are why I am in the library on this fine Saturday that is my 21st birthday, and not binge drinking all day at the bar.

    submitted by /u/kinger97
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    Here's to everyone else spending the bank holiday weekend studying!

    Posted: 05 May 2018 10:58 AM PDT

    Kool-aid for the Uninitiated - Zen and the Art of Ursine Necroflagellation (Day 3)

    Posted: 05 May 2018 08:33 AM PDT

    Core Observations

    • Oof, kool-aid's starting to kick in; was inordinately happy to participate in Casual Friday: "Ye-e-es! I get to wear the clothing I would wear anyway if I weren't at work!!"
    • Proposing a r-squared of around 0.6 (representing medium correlation) between the number of monitors over 2 a person has and their degree of tryhard-ish-ness; increasing to 0.8 if any of the monitors are on vertical orientation
    • Though functional, the desktop scanner earmarked for new hires look like they've been used in a turf war by the losing side
    • Attenborough on social structuring among public accountants: "Observe. The large bachelor herds of staff accountants only recently ejected from the alma mater as they roam in loud lunchtime packs. Here, pushing through the bush now, a partner with sycophants and furrow-browed managers trailing in his wake. Despite the size of these beasts, the ecosystem is fragile, supported by admin staff who pass almost unnoticed through the rich loam of paperwork here in the office environment."

    Current Challenges

    • Creating ISO non-compliant labelling for other mooks, ranging from "friendly at first but actually savage AF when bored (which is often) to "stinks of desperation but probably has a secret booze cache somewhere on premise"
    • Fending off inane questions ("Why won't my monitor work?", "Where is the network printer?" "How to farm sheep plz?") from other greenhorns after switch-computer-off-then-on-again proposition disclosed my true nature as the God of Tech

    Expectations for the Future

    • Mastering a "die in a fire" aura on par with the tax partner, the better to repulse previously-mentioned greenhorns
    • Preparing for lunch beyond the what's-available-on-the-kitchen-counter roulette, which so far has generated one apple, some cookies, and a slide of cake that probably dates from the office's Y2K preparedness event

    Errata to the Memorandum

    Had the first post-tax-season drinking event last night, and the Pareto principle holds true: 80% of the booze at any given event gets drunk by 20% of the accountants present

    submitted by /u/wolfington_bear
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    In public, what’s something you think all first year staff need to improve on?

    Posted: 05 May 2018 06:36 PM PDT

    Reapplying to the same firm

    Posted: 05 May 2018 03:17 PM PDT

    I applied and interviewed at a regional CPA firm about 8 months ago but got rejected (they never said why). I now have my CPA and they recently posted an experienced hire position. Is having the CPA and 8 more months of public experience enough to reapply to the position or is it better not to since it was less than a year ago?

    submitted by /u/PostRigby
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    What are the most desired Big 4 Tax Groups?

    Posted: 05 May 2018 04:33 PM PDT

    From my understanding everyone wants to go into M&A or International? If its true, why?

    submitted by /u/Dong_berries
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    Any B4 people that got in from industry?

    Posted: 05 May 2018 08:38 AM PDT

    Hey guys, I see a lot of posts here emphasizing getting into B4 through their college. I'm past that point now. The B4 hunt eluded me until my final semester in college where I was also working full time- and of course that stood as a significant barrier for networking opportunities. I'm about a year after graduating and since then I've moved from a small company to a mid-sized company working as a staff accountant. I don't have my CPA, but I do have my 150 and am currently studying with Becker for FAR. My professional desire is to get more exposure to different industries and accounting methods, which is why I'm striving now for B4. I developed a lot of skills in industry, but I'm not sure how relevant they are since I'll be starting at the bottom at B4. I don't mind the pay cut also and the work-life balance was not so luxurious in industry as I've been working on average 50-60 hour workweeks since their back office staff is so much understaffed compared to front office staff and that leaves me doing more tasks than what I would imagine is the average routine of a staff accountant in industry. So given all the above, are there any of you out there like me in terms of professional path who were able to make it into B4? If so, some pointers would be helpful.

    submitted by /u/Acctthrowaway1243
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    EY vs PwC vs GT

    Posted: 05 May 2018 07:48 PM PDT

    What are some pros and cons for each of these firms? I'm currently a student with internship opportunities for EY,PwC, and GT. EY would be in McLean office, GT in Arlington(greater DC), and PwC in Baltimore,MD.

    I personally liked PwC the most from the recruiting experience, but Baltimore wasn't my top office location choice. But the location isn't a big deal - I want to chose solely based on their culture and opportunities.

    1) what are some pros and cons about each of the 3 firms? 2) what should be the determining factor when I make a decision?

    I'd appreciate your advice. Thanks!

    submitted by /u/Banana1107
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    Starting my first senior accountant role on Monday for a real estate company. Any advice/pro tips? Is it that different from staff?

    Posted: 05 May 2018 05:09 PM PDT

    How long do I have to work before considering taking another job?

    Posted: 05 May 2018 07:16 PM PDT

    I just accepted an offer for a CPA firm, but I still want to actively search for positions in a bigger public accounting firm. How do I go about this without seeming like I can't commit?

    The reason I accepted the offer is because I figured its better than being unemployed..

    submitted by /u/parklt
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    How much harder is dental & pharmacy school?

    Posted: 05 May 2018 06:26 PM PDT

    I'm in my 2nd year pursuing a bachelors in accounting because I don't want to be in school for 8 years but I'm srsly questioning myself..if i should.

    ALL of my cousins are dental,pharmacy, optometry. They are breezing through it easily, or at least they talk like it is..

    I hope some older knowledgeable actual accountants answer this lol

    submitted by /u/suvsaa
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    I love accounting

    Posted: 05 May 2018 06:00 PM PDT

    I just got to say accounting is one of the most difficult things to learn . Therefore, it's true when they say the "best things in life don't come easy". Being able to calculate my businesses costs vs revenues is so helpful through accounting. Seeing it's application in real life is so satisfying. Such an amazing tool.

    Srs not trolling !!

    submitted by /u/chooseusernamed
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    I don’t even know what my deal is. Is there anyone out there who’s experienced this, I don’t even know if this is for me anymore

    Posted: 05 May 2018 09:03 PM PDT

    Alright, I enjoyed financial, got an A in it. Intermediate 1 was decent, got an A-, but I didn't understand some chapters that much. Intermediate 2, I understood more what I didn't get from intermediate 1. What I honesty hate about this class is that the textbook really doesn't make it easy to understand things. My professor pretty much teaches whatever is in the textbook

    Now when it comes to the connect homework, I get annoyed easily. It's way more in depth and they're very long, with no multiple choice questions- making me dread that I have to complete it. What I don't understand is yeah, I get that my professor wants us to apply our knowledge, but how can we apply it when she never even teaches us how to like how it is in the homework? I have to rely on online questions, which ends up taking way too long trying to find the right ones and learning it, since we haven't been through it like that in class, even then, some of the online problems don't explain everything. That, on top of being able to check your work only twice, which is extra af in my opinion. I think that itself is frustrating and makes me not enjoy the class, but I'm conflicted because I don't know if it's just that class or if that class is also making me hate accounting in general now

    It also is getting very hard in this last chapter, this is the most lost I've felt in all semesters. I just started looking at this last chapter to do the homework and it makes me kind of depressed just trying to understand something that makes no sense to me, and I even went to the classes for it. Is this something any have you felt at one point? I feel like this chapter pushed me to my limits, although I didn't put in as much work this semester as I probably should've. What are the odds this isn't for me? What are the odds I just fucked myself over this semester by not putting in more time than I ever have? Is this my limit or is this the point that will push me harder than ever next semester, due to this feeling of hopelessness? It can go either way I guess, depends how I go about it. How was it for you guys, did you go through a point like this and push through, if so, what happened and where are you at now?

    submitted by /u/anon420710
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    Corporate Accounting (Controllers, Acctg Mgrs, SEC Reporting, etc) Career Advice (Public Companies)

    Posted: 05 May 2018 02:00 PM PDT

    How do you survive the corporate accounting never ending grind? Any best practices for managing your personal and professional life during Qs and Ks?

    submitted by /u/RoyGHedgesAlot
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    Public accounting firms besides the big 4?

    Posted: 05 May 2018 07:46 PM PDT

    Everyone knows the big 4. But I'm curious what are the next firms in line as far as prestige and size? Thanks for the info.

    submitted by /u/Mo1459
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    Any suggestions for CPE webinars on Provisions/FAS 109/ASC 740?

    Posted: 05 May 2018 06:33 PM PDT

    My firm doesn't do provision work on the tax side of things and I dont want to bail for another firm yet to get some experience so I was curious to know if you had any CPE websites to suggest for provision webinars?

    submitted by /u/rwoods213
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    If the net profit is increasing, will this impact on the assets?

    Posted: 05 May 2018 05:55 PM PDT

    Hi all,

    There's a question in the text book where I have worked out the business made $4,400 in Net profit (From the income statement).

    I know that this amount will need to be put into Owners Equity when entered into the Balance sheet, but will this impact my bank also? Or is it because this is the owners money, that it is yet to flow over to the assets?

    However, would this not mess up the accounting equation of A=L+OE?

    The text book has NP impacting OE by $4,400, however no impact on assets.

    Many thanks!

    submitted by /u/mcgrath111
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    Stopped Studying for BEC because of finals. Test Next Monday, am I screwed?

    Posted: 05 May 2018 05:51 PM PDT

    I've been sticking with my study schedule up until this week. Finals have been taking priority and I've been using all my time studying and writing papers for class instead of focusing on BEC. I'll be done with School on Monday and I take the test a week from Monday. Do you guys think a week to do both mock exams and review is enough, or should I reschedule my test day?

    submitted by /u/throwaway201212319
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    How likely is it to get fired from an internship?

    Posted: 05 May 2018 05:33 PM PDT

    I'm starting a summer internship with a mid size firm and I'm wondering, how much do they expect out of interns? I'm worried that I won't be able to pick up everything fast enough and that they might fire me.

    submitted by /u/caelum52
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    difference between cumulative participating and noncumulative participating?

    Posted: 05 May 2018 05:10 PM PDT

    ^ what question stem says, I will give an example here, and I would like to know how math would go if it said cumulative instead, and also cumulative nonparticipating (if such a thing) (Its first problem with Wood

    https://www.coursehero.com/file/p4qcifd/Wood-Co-owns-2000-shares-of-Arlo-Incs-20000-shares-of-100-par-6-cumulative-non/

    submitted by /u/cpabound24
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    Did i just screw myself on FAR sims? Help!

    Posted: 05 May 2018 05:52 AM PDT

    I'm going nuts trying to remember all the mistakes i made. I made sure to read the SIM instructions, but I was nervous and may have missed something. For the 'blanks' that i didn't do anything with on the income and balance sheet.... were you supposed to input '0'? If so... I'm toast LOL!

    submitted by /u/keepsgettinbetter8
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