Accounting Well, I did it. I made an A in Intermediate II. By 3 points. In a 1089 point course. |
- Well, I did it. I made an A in Intermediate II. By 3 points. In a 1089 point course.
- For any tax accountants worried about their job being automated
- Someone accidentally cc’d all of Deloitte Tax...this is my inbox now
- Is it really impossible to pass the any part CPA exam by cramming for two weeks?
- Big 4 Auditor Changes last 6 Weeks
- How do I handle added responsibility?
- Wiley CPAexcel is down.
- After your first public accounting job, what did you put on your resume for describing what your job entailed?
- How do associates get put on clients?
- Accounting intern or Accounts Payable slave?
- MSA/CPA vs Top 15 MBA - Help!
- Got offered an “accounts payable” job for a dow 30 company
- [CAN] Thinking of writing 2018 CFE with Finance role. Anyone care to share their experience?
- Homework help
- Stockholders Equity Question FAR
- How many credits you need to maintain your CPA?
- [US]I'm have an internship in NYC area. I also want to take the CFA I.
- First phone interview advice please
- Do experienced hires need cover letters?
- [US] Purchase Price Allocation fee - capitalize or expense under GAAP?
- Auditing the Beautiful Game-How Soccer Could Use More Accounting Standards to Curb Corruption
- Resume Critique - new grad looking for first FT accounting job
- Quick question about following up after Big 4 interview
| Well, I did it. I made an A in Intermediate II. By 3 points. In a 1089 point course. Posted: 02 May 2018 12:38 PM PDT Might as well just end my life now while I'm ahead. [link] [comments]  | ||
| For any tax accountants worried about their job being automated Posted: 02 May 2018 06:52 AM PDT Don't fret, I've just been reassured our jobs are safe after talking on the phone with my state department of revenue about a notice. Holy shit. I literally had to teach the person what a complex trust was and how credits get applied via pass-through entities. I'd like to see Watson talk to a brick wall that are the state phone reps. [link] [comments]  | ||
| Someone accidentally cc’d all of Deloitte Tax...this is my inbox now Posted: 02 May 2018 10:52 AM PDT
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| Is it really impossible to pass the any part CPA exam by cramming for two weeks? Posted: 02 May 2018 08:32 AM PDT I have never spent more than 4 days in a row (8 hours of studying each day) for any test in my life. I understand these are probably unlike any other test I have taken. So let's say I do nothing but study and study hard for two weeks. Can it be done? I know this is probably hard to answer without knowing me, but have any of you heard of this being done. I would imagine there are some people like me who hate drawing things out any longer than necessary [link] [comments]  | ||
| Big 4 Auditor Changes last 6 Weeks Posted: 02 May 2018 07:30 AM PDT Hi all, I posted awhile back about bringing back the Big4Carousel. Well, 6 weeks out and I only got behind in 4 of the 6 weeks due to work, beer, and women. Nonetheless, looks like a majority of the traffic was driven through Reddit, so I thought I would reward my loyal fan base with some exclusive content - literally just a summation of the past 6 weeks of changes with minor formatting to make me look fancy.... I honestly do apologize for getting behind to those nerds who actually were looking the changes up. It appears I did have some unsolicited traffic during my hiatus. Also, I've had roughly 1.3K views so there must be some interest garnered by the content overall. Anyways, here is the summary of the past 6 weeks and here is an easy link to the blog. Thanks to anyone that read and got a modicum of enjoyment, and see you on the carousel! [link] [comments]  | ||
| How do I handle added responsibility? Posted: 02 May 2018 08:29 PM PDT Im nearing the end of my first year as a sr and to put it lightly, it was very rough. Not just me but for the whole department as we are grossly understaffed. Today I got called into a partners office and was "asked" if I want to learn provisions and that 2 brand new ones were coming up. I was told these are very quick turn around like 60 hrs in 3 days quick per qtr. Also because of the quick turn arounds and unexpected delivery of the information I wouldn't be able to take vacation in any of the qtr/year end months, which combine that with busy season and that means the only months I can take vacation are June, October, November. He then also casually mentions this will add probably 200ish charge hours a year. This was an "ask" if I'm interested but it was one of those asks that is really a telling as he went through the whole roster explaining why I was the the best/only candidate. To be frank I have 0 desire to work until 4am 8 times a year getting these 2 new provisions, having 200 more charge hours (when I already lead every other sr by 150+) and having 0 flexibility in my PTO. This is kinda a rant and kinda what would you guys do? [link] [comments]  | ||
| Posted: 02 May 2018 05:46 PM PDT It has been down for about 11 hours. Does anyone by chance know of any other resources for free multiple choice questions? I have a test in a couple of weeks and this is the worst thing to happen right beforehand. [link] [comments]  | ||
| Posted: 02 May 2018 01:35 PM PDT Currently redoing my resume for a new position within my work... what should I be putting on my resume? This is what I have so far: -Provide accounting services for corporations and personal tax returns -Prepare financial statements and notes -Assist junior accountants with various preparation questions -Work with coworkers on client engagements to ensure jobs are done on time and meet client expectations -Monitor budgets on various work to aim for profitability What did you put on your resume? [link] [comments]  | ||
| How do associates get put on clients? Posted: 02 May 2018 10:26 AM PDT I'm starting in the fall and was wondering how the firms generally assign their new associates to projects. Do we get any choice in industry? [link] [comments]  | ||
| Accounting intern or Accounts Payable slave? Posted: 02 May 2018 08:15 AM PDT I was super excited about being an accounting intern at a large company and getting to learn about what the accountants do here and how their business operates. My interview went really well with one of the head accountants here and I was basically offered the job at the end. I was told that my help could be used for closing their year-end that happened 2 days ago and so I started the next week. I come in the following week and go through the normal new-hire procedures and then I go to the person who hired me. I was then taken to another person who took me to person 3 who I have come to know as my supervisor. Turns out, I'm in Accounts Payable. Okay, any experience is good experience, right? Since day 1, I've been taught how to sort our mail and enter invoices into the system. I haven't heard the term "Year-end" the whole time I've been here. All I do all day is enter our invoices into the system, which is ironically exactly what the temp accountant from the temp agency who sits in the cubicle next to me does all day. I'm fully aware that interns usually get the grunt work that nobody wants, but I'm not learning anything here and I'm extremely disappointed. I'm not doing anything that contributes to the year-end or learning about closing or anything. But hey, at least I am getting more money than any other job I've had, right? /rant [link] [comments]  | ||
| Posted: 02 May 2018 03:02 PM PDT For a little background...I'm 6 years out of undergrad with an Economics degree from an Ivy. On graduating, I'd planned to get an MSA and try to work for a Big 4 firm, but I had a serious health problem in my early twenties and was out of work for a few years. For the last 3 years I've been working at a local public accounting firm in audit, and this winter I applied for MSA programs with the intention of switching to tax and hopefully moving to a Big 4 firm. In the process of applying, I decided to apply for a few MBA programs as well because a few things made me second guess what I was doing:
For family reasons, it's important for me to stay in a specific geographic area, so that helped narrow down where I was applying. My favorite option for the MSA is a program that has strong Big 4 placement and gave me a small fellowship. For MBA programs, I got into a top 10 program, with no money, and a top 15 program, with a large fellowship. I actually preferred the lower-ranked program, so the money makes that an easy choice for me. (In fact the tuition and fees, even for two years, would be lower at the MBA program than the MSA, although obviously, I have to consider living expenses and opportunity cost for an extra year with the MBA.) So now my big decision is whether I want to pursue a MSA, become a CPA, and work in tax, or get an MBA and explore other options - based on my strengths and interests, probably corporate finance. And I'm very torn. These are my thoughts and concerns:
Ultimately, I know this is a personal decision, but if anyone has any insight into my questions above, or has been in a similar situation before and has any feedback on their decision process, I would really appreciate it. Thank you! [link] [comments]  | ||
| Got offered an “accounts payable” job for a dow 30 company Posted: 02 May 2018 07:30 PM PDT Is this a good route to go to get my first accounting experience? It pays 15.50 an hour. [link] [comments]  | ||
| [CAN] Thinking of writing 2018 CFE with Finance role. Anyone care to share their experience? Posted: 02 May 2018 06:22 PM PDT I know the consensus appears to be that Assurance is the easiest. Even so, I didn't take Assurance and don't really like it, conceptually. I took PM and Finance, and between them, Finance seems like the better choice, everything basically fits into a framework, the calcs aren't too hard, it's not as subjective, and there isn't a ton of breadth in topic coverage. Still, >3x as many people write with PM over Finance. I did equally well in both mods, so that won't influence my decision. I have a friend that wrote and killed it in Finance, but looking for any other previous writers' experiences, first or second hand. [link] [comments]  | ||
| Posted: 02 May 2018 06:05 PM PDT I can't figure out how to do this problem and it's killing me. 600000-60000/10=54000 It's for 5.5 years No idea what to do from here, that's all I got Huff Inc. purchased a machine on July 1, 2010 for $600,000. The machine had an expected life of 10 years, a salvage value of $60,000, and was being depreciated using the straight-line method. On December 31, 2015, the company reviewed the potential of the machine and determined that its undiscounted future net cash flows totaled $300,000 and its discounted future cash flows (Fair Value) totaled $210,000. If the company does not plan to sell the machine, what should Huff record as an impairment on December 31, 2015? Selected Answer: B. $93,000 Loss Answers: A. $93,000 Gain B. $93,000 Loss C. $90,000 Gain D. $90,000 Loss [link] [comments]  | ||
| Stockholders Equity Question FAR Posted: 02 May 2018 09:38 PM PDT Can anyone please shed some light on when to include/close out net income items in ending retained earnings and thus, shareholdders' equity? Ninja Question #107 on Statement of Changes in Equity: Zinc Co.'s adjusted trial balance on December 31, 20X1, includes the following account balances: {C} Common stock ($3 par) $600,000 Additional paid-in capital 800,000 Treasury stock (at cost) 50,000 Net unrealized loss on available-for-sale debt securities 20,000 Net unrealized loss on investment in equity securities 15,000 Retained earnings appropriated for uninsured earthquake losses 150,000 Retained earnings (unappropriated) 200,000 What amount should Zinc report as total stockholders' equity in its December 31, 20X1, balance sheet? Incorrect A. $1,665,000 B. $1,680,000 C. $1,685,000 D. $1,780,000 E. Answer Statment You answered A. The correct answer is B. CONTRIBUTED CAPITAL: Common stock $ 600,000 Additional paid-in capital 800,000 ———- Total contributed capital $1,400,000 Retained earnings ($150,000 appropriated) 350,000 ———- Subtotal $1,750,000 Less accumulated comprehensive income (unrealized loss on available-for-sale debt securities) $20,000 Less Treasury stock at cost 50,000 70,000 ——- ———- Total stockholders' equity $1,680,000Note Only the unrealized loss from the debt securities classified as available-for-sale is included in shareholder's equity as a component of accumulated comprehensive income. The net unrealized loss on investment in equity securities is included in income Per the definition of R/E: Retained earnings are increased by net income, prior-period adjustments, and quasi-reorganization. Retained earnings are decreased by net loss, prior-period adjustments, cash, property, scrip, stock dividends, and treasury stock and stock retirement transactions. Question: If Net Income is closed out to retained earnings and thus included in shareholders' equity, why wouldn't we include the unrealized loss on equity securities (FVTNI) in the ending retained earnings balance? It goes to equity in the end I think Thanks! [link] [comments]  | ||
| How many credits you need to maintain your CPA? Posted: 02 May 2018 12:10 PM PDT You need to take classes after getting your CPA license ? [link] [comments]  | ||
| [US]I'm have an internship in NYC area. I also want to take the CFA I. Posted: 02 May 2018 05:07 PM PDT Is it possible for me to study and take the exam and pass this summer? I begin in a week my internship at an Arabic Investment Bank in the City. [link] [comments]  | ||
| First phone interview advice please Posted: 02 May 2018 08:26 PM PDT So tomorrow I have a phone interview for an accounting position with a credit union. I graduated last year with my bachelor's in accounting but unable to find a job yet due to lack of professional experience. All my experience so far has been retail work and because of having a family I was unable to do internships. I want to do well during my phone interview so looking for any advice or tips. Also good questions to ask would be appreciated. [link] [comments]  | ||
| Do experienced hires need cover letters? Posted: 02 May 2018 08:19 PM PDT I've heard mixed reviews, ranging from it's only needed for people out of school, to not needed at all when you're an experienced hire, to depends on the firm? For context, I'm almost a year in at a Big 4, and trying to jump to a different group. Thanks! [link] [comments]  | ||
| [US] Purchase Price Allocation fee - capitalize or expense under GAAP? Posted: 02 May 2018 04:12 PM PDT Hi All. I work in real estate and we recently had a purchase price allocation done on a property that our client acquired in 1Q18. It is a single building with a single tenant. The question I need to answer is whether the fee paid to the vendor who performed the purchase price allocation can be capitalized as an acquisition cost or if it should be expensed? GAAP doesn't state clearly one way or the other (per my reading of ASC 805), so in my mind it is a gray area and I should be able to argue either case. But I wanted to get a take from someone who may see this on a more consistent basis, and how they treat it. I can offer more details, as necessary. [link] [comments]  | ||
| Auditing the Beautiful Game-How Soccer Could Use More Accounting Standards to Curb Corruption Posted: 02 May 2018 10:11 AM PDT
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| Resume Critique - new grad looking for first FT accounting job Posted: 02 May 2018 07:42 PM PDT My resume: https://imgur.com/a/XHjbeEd Hi everyone, I just recently graduated and am starting to apply to FT jobs now that recruiting season is starting. Can you guys please give me a honest resume review? All advice is welcomed as I don't have any accounting experience. My GPA is pretty weak (2.99, hopefully I can round to 3? Accounting GPA is only slightly better) so I chose to leave it off my resume Oh and not sure if it's relevant given that I'm a new grad with no experience to tailor my resume to, but a majority of the firms I will be applying to are public accounting firms. Thanks for all your help everyone - much appreciated! Edit: I'm in Canada too, if it matters (I think the 2 page resume is more accepted over here?) [link] [comments]  | ||
| Quick question about following up after Big 4 interview Posted: 02 May 2018 11:50 AM PDT I just interviewed for KPMG's winter audit internship. Overall I think it went well. I was supposed to be done at 2 but I got out at 2:40 so that's possibly a positive thing. Anyway I know that you are supposed to follow with a thank you note but I interacted with numerous people; two recruiters and two partners (I interviewed with the partners, the recruiters just kind of served as introducing me and conducted past phone interviews which I sent thank you notes for). Do I send four thank you notes, one to each person, over email? Also I think I'm interested in commercial audit and one recruiter told me to let her know if that's where I'd be best fit as opposed to banks, mutual funds etc. How would I express that over email? I'm an idiot about this stuff it's brand new to me. Thanks guys [link] [comments]  |
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