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    Accounting Senior year accounting class bar crawl T-Shirts.

    May 03, 2018

    Accounting Senior year accounting class bar crawl T-Shirts.

    Senior year accounting class bar crawl T-Shirts.

    Posted: 03 May 2018 10:16 AM PDT

    Dated meme format + ancient public accounting joke = a little humour for your depreciationg

    Posted: 03 May 2018 06:45 PM PDT

    Kool-aid for the Uninitiated—Revenge of the Summer Intern's Progress (Day 2)

    Posted: 03 May 2018 06:12 PM PDT

    Core Observations

    • Audit notes are often composed of more acronyms than actual words, and the world of accountancy has a particular obsession bordering on Rule 34-able fetish with creating shortened words by means of a slash
    • Process come in one of two flavours: "This was found to be more efficient, and we just barely managed to drag the office dinosaurs into the new system" or "We've been doing it this way since some Sumerian started scratching file identifications on the bottom right corner of a clay tablet"
    • In any group of trainees, there will always be at least one anal-retentive prig who is wholly trapped in the university way of learning and expects a clear answer/precise reason for every ambiguity: the ol' high GPA/low situational awareness conundrum

    Current Challenges

    • Not fantasizing about pulling aforementioned prig's tongue out through their arsehole
    • Balancing caffeine intake to try to find the needle-thin safe zone between drool-caked lobotomite and sweaty, twitchy wreck

    Expectations for the Future

    • Rediscovering what exactly it is that I do during the weekends if I'm not studying; did I… did I leisurize? But how?
    submitted by /u/wolfington_bear
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    I see your HOTCPA and raise you CPA MOM

    Posted: 03 May 2018 09:30 AM PDT

    I just offered a Big 4 Internship!!

    Posted: 03 May 2018 02:08 PM PDT

    After LOTS of applications and networking and stuff that lead nowhere, I just got an offer from KPMG for their Winter Audit internship starting January. Holy fuck!! I come from a no-name school that doesn't even have on campus recruiting so I didn't see this coming at all. I don't mean to drink the Kool aid but this is still a really good opportunity for me and I really don't know how it'll pan out, but it feels like such an accomplishment that I didn't expect.

    Also, I've been making no more than 12 dollars an hour my whole life, so that's pretty sweet too!

    Thanks for the tips you guys have given me in the past!

    submitted by /u/ferola
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    /r/politics Explains Federal Corporate Income Taxes

    Posted: 03 May 2018 01:55 PM PDT

    I get no work.

    Posted: 03 May 2018 06:45 AM PDT

    I recently started working for a small public accounting firm. During busy season I had a lot of work (but I would always finish and ask everybody for more work. Often multiple times a day). Now that busy season is over I get almost no work. Do I keep pestering people for work or should I just sit back and continue CPA studying (which is what I do with my down time)? Thank you.

    Edit: I know this sounds humblebraggy but it's not.

    submitted by /u/emanresu61
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    Senior just texted me at 10:30pm to ask me to do something

    Posted: 03 May 2018 08:55 PM PDT

    Right when I am about to sleep. How important is an audit to some of you guys? It amazes me how some audit seniors and managers care so much about their work and agonize over little shit that won't matter 1 year, 5 years, or 10 years from today. I kind of find it funny to see them behave like that. I wonder if the job molds people into uptight personalities or if these types of people are attracted to the job. If you are one of these kinds of people I feel sorry for you. You guys seem totally miserable. I think all seniors and managers who frequent r/Accounting should take a few minutes right now and think about their professional lives. Because this job called auditing, it's really not that important when you put your life into perspective. You are an auditor. Nobody cares about what you do and nobody cares about you. Wake up, breath in some fresh air, and go get a cushy job in corporate.

    submitted by /u/public100accountant
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    Automate PDF busy work?

    Posted: 03 May 2018 05:51 PM PDT

    One of my tasks is taking a large Verizon phone statement, extracting pages that correspond with a certain individual and emailing just those PDF pages to that person.

    There are 80+ indivuals on this statement and there are 250+ pages.

    Right now this is done with lots of clicking and pasting the correct pages into outlook. It takes an easy 5 hours to accomplish and is very mind numbing. There has to be a way to automate this but I can't find a good solution that will automate the PDF extraction process or a way to automate attaching PDF pages to the correct email address.

    Any automation pros here or know a better sub to ask?

    submitted by /u/expedition2017
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    CPA & sabbatical leave

    Posted: 03 May 2018 05:41 PM PDT

    I'm a young dude in his mid 20s who busted his ass off in public accounting the past 3 years. I recently became a CPA in late 2017 - the licensure expires end of 2019.

    Been grinding for awhile since college and decided it's now or never to go do some travel/see some cool places now that I am all done becoming a CPA and getting experience. I plan to take up English teaching in some Asian country for a year and enjoy my youth, especially with the friends I made in college. However I am concern about the commitment I need to make to keep my CPA active, specifically needing 80 hours of CPE by end of 2019 and minimum 20 in a year.

    Have you guys ever done something like this? Looking for recommendations. I suppose it's just a matter of spending some money on various webcasts or something which can be somewhat pricey but convenience. Let me know your opinions!

    submitted by /u/UltraTax
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    When your team finishes closing out the year

    Posted: 03 May 2018 04:02 PM PDT

    What % raise did you get after leaving public?

    Posted: 03 May 2018 10:25 AM PDT

    Question in title. I have 1.5 years of audit experience in Big 4. Got an offer that is a 10% raise. Potentially could be 15% depending on how negotiations go. What percentage raise over current salary did you all get after leaving public? I would imagine the raises would be a little higher if you leave as a senior as opposed to associate (like me). Wondering if that's true.

    submitted by /u/public100accountant
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    So I'm starting my accounting degree this summer and I have some questions.

    Posted: 03 May 2018 10:26 PM PDT

    I asked y'all a couple of months ago for some broad advice and now I'm back to ask for some specific stuff if that's cool. I'm switching from Engineering (which I utterly despised)

    1) So right now I am in Pre-Business and once I complete some courses over the summer I will be able to declare any of the business majors offered, including accounting. The only other ones I am considering is Business Administration and Finance. Are there any advantages or disadvantages to these in comparison to Accounting.

    2) I am taking some intro to MIS class, Pinciples of Accounting, and Macroeconomics this summer(3 month term). What can I expect from Principles and how important is it as you go onto Intermediate and beyond?

    3) I want to find some work related to the field while in school but I don't have any experience related to Accounting. I am pretty good at Microsoft office and basic arithmetic though and have worked in sales and data entry where I educated customers on things. What kind of a job can I find and where should I look?

    4) There is an accounting club at my school. How useful would it be if I joined? I want to add a gym locker to work out as well so I'm gonna be spending a lot of time there.

    5) Finally. How was your experience at undergrad? Any tips for someone who is a bit nervous going into this field.

    Thanks in advance!

    submitted by /u/letsbringitall123
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    EY Settles Sexual Harassment Suit

    Posted: 03 May 2018 02:44 AM PDT

    What's the college workload like for accounting?

    Posted: 03 May 2018 01:21 PM PDT

    Just turned 20 and did 3 semesters of college already. I went into school wanting to do Eng/Psych and parents were like hell no you're doing STEM. I absolutely loathed programming (comp sci was the first I tried) and Electrical Engineering, while more bearable, reinforced that engineering just isn't for me. I have always been analytical and detail-oriented, so I thought maybe I would be alright in accounting.

    I should say that I was an absolutely awful student, especially during my last semester. Went to class only about half the time or so and didn't really study most of the time, and ended up with a 2.8 as a result. I was diagnosed with hypothyroidism as well, which I think was a big reason for my lack of motivation and energy.

    But I'll be honest, even though it does seem more fitting than Engineering, I suspect accounting won't be my passion or anything (as I think is the case for most). I took a break from school, and I'm going to back with the mindset that this won't be fun, but I have to study. I know I can't be successful at ANYTHING with the habits I had back in college. So I'm going back, first to community college for a while then transferring somewhere else. How much is the workload compared to Comp Sci and Electrical Engineering?

    submitted by /u/TheSpasticSurgeon
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    From r/politics, "Bernie Sanders says Amazon paid no federal income tax in 2017. He's right"

    Posted: 03 May 2018 10:14 AM PDT

    Enjoy

    Edit: Fixed.

    submitted by /u/billdoughzer
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    Best way to study for accounting

    Posted: 03 May 2018 01:01 PM PDT

    Going into junior year of college, haven't had an accounting class in a little while? What's the best way to prepare for my next accounting class. Have taken financial and managerial already.

    submitted by /u/Danman213
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    Are internships in the field absolutely necessary?

    Posted: 03 May 2018 07:03 AM PDT

    I received my BA in Accounting in December 2016 and I'll be graduating with my MS this December (both from a NYC public college). I have no accounting experience whatsoever. My only work experience consists of retail and admin volunteer work. I didn't apply for many internships throughout school because I honestly didn't think I could handle juggling all the school-work with accounting work. Should I bother applying for full-time jobs in public accounting right now, or should I still look for internships and jobs like accounts payable/receivables?

    submitted by /u/Iced_Amethyst_625
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    Realized Gain Question

    Posted: 03 May 2018 07:37 PM PDT

    No matter how I try to think about this transaction I can't logically justify the answer.

    The answer is a $3,000 realized gain.

    In my mind, the taxpayer is trading an automobile with an adjusted basis of $17,000 (35,000-18,000) plus a 2,500 note for an automobile worth only 17,500. So I'm giving him 19,500 (17,000+2,500) for only 17,500 in return. So I would think that I should have a realized loss of 2,000.

    How is a gain realized in this transaction?

    submitted by /u/Atlasyn
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    Today I was stereotypical millennial ... waiting for the boss to respond on a project.

    Posted: 03 May 2018 06:55 PM PDT

    Help with interest capitalization?

    Posted: 03 May 2018 06:37 PM PDT

    I don't know if this is the place to post but...

    I'm taking the class online so I don't really have access to the professor and the way the book and his examples explain it are completely different so I'm loss. Any help would be appreciated!!

    Here's the question

    During 2017, the COYOTE Company spent $6,000,000 for various construction projects which are qualified for capitalization of interest. The total expenditures of $6,000,000 were made as follows: $2,000,000 on 1/1/2017, $2,000,000 on 4/1/2017, and $2,000,000 on 10/1/2017. The company had the following debts outstanding as of December 31, 2017:

    1. 5%, 5-year note to finance construction of various assets, dated January 1, 2015, with interest payable annually on each January 1. $4,500,000
    2. 6%, 15-year bonds issued at par on December 31, 2011, with interest payable annually on each December 31 $2,000,000
    3. 8%, 10-year note payable, dated January 1, 2012, with interest payable annually on each January 1 $4,000,000

    Instructions: Prepare the journal entries for the asset qualifying for capitalization of interest, interest expense, and interest payment on December 31, 2017.

    Here's what I have

    submitted by /u/ArtemPish
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    Critique My Resume Please?

    Posted: 03 May 2018 12:36 PM PDT

    Where my tax homies at? [qualifying relative questions]

    Posted: 03 May 2018 06:27 PM PDT

    I want to clear a few things up relating to the Head of Household status (not relating to claiming personal exemptions). In order to claim a dependent qualifying relative, they must actually be related to you, right? As in, brother, sister, mother, father, grandparent, uncle, aunt, nephew, niece, in-law (but not cousin though, right? What's the logic behind allowing in-laws but not cousins?)

    Furthermore, must this person live with you the entire year, except parents and grandparents who can live in another place as long as you meet all other tests to claim them as a qualifying relative? I'm getting a bunch of different answers as I look online, and I think most are referring to whether you can claim someone as a qualifying relative to get an additional personal exemption, which is insignificant for now since they've been repealed starting in 2018.

    Thanks for clearing this up.

    submitted by /u/longball9229
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    So what's the etiquette post-meet and greet/networking event?

    Posted: 03 May 2018 12:58 AM PDT

    Am I supposed to send the people I met an e-mail?

    Linked in (do they even check it?)?

    submitted by /u/godstriker8
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