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    Monday, May 28, 2018

    Accounting When did you realize it was time to quit?

    Accounting When did you realize it was time to quit?


    When did you realize it was time to quit?

    Posted: 28 May 2018 03:43 PM PDT

    For me it was when my manager made some comment about our client still being under 605 for revenue recognition and they were one of the few ones that didn't have to do 606. And then he laughed like it was a joke. No one could possibly think anything about that is funny. At that moment I decided it was time to go.

    submitted by /u/moomoomistacow
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    Interesting court case concerning a drug dealer who claimed COGS as a business expense on schedule C

    Posted: 28 May 2018 06:08 PM PDT

    Is it worth getting your CPA if you don't plan on working in the finance/accounting field for the rest of your life?

    Posted: 28 May 2018 07:18 PM PDT

    Background - currently a third-year undergrad on my year abroad in East Asia. I major in economics and <East Asian country> studies (trying to keep some semblance of anonymity here), and did a B4 audit internship last summer, came out with FT offer for post-graduation.

    I'm really enjoying my time in this country, and have done some translation work and other stuff with languages that's made me want to possibly pursue this field in the future. Have made some interesting connections here as well, and I really want to come back and live here long-term, and I'm seriously considering getting a master's in interpreting here as well.

    I guess right now my question is, is it worth getting your CPA/ACA (in the UK where I'm based) if you're not sure you want to exit into a field related to accounting? I found the internship decently interesting, but found my experiences varied greatly depending on what engagements I was placed on, and the last client they put me on was a horror show that made me question whether I really wanted to dedicate 3 years of my twenties to this job.

    tl;dr: is spending a couple years at B4 after undergrad still worth it if you're not sure you want to pursue an accounting/management career path in the future? I feel like the time spent getting your CPA (the path to getting your ACA is 2-3 years long in the UK I believe) could be spent on gaining skills for what you want to do long-term, but I also realise that "putting in your time" in public accounting is a good foundation to have for the future. Any insight would be much appreciated, thanks in advance!

    submitted by /u/45minute
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    Is Acca more valuable than a degree in a recognised school?

    Posted: 28 May 2018 02:18 PM PDT

    I am currently in an average college (Griffith College), which ACCA offers exemptions for F1-F9, and I'm considering whether to transfer to a better college (UCD), but ACCA doesn't offer as many exemptions. Will ACCA offers me more chance to get a job or does the name of the college matter more?

    submitted by /u/Kainkain7
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    4 credits away from 150, looking for suggestions.

    Posted: 28 May 2018 01:10 PM PDT

    Looking for suggestions as I'm currently 4 credits away from 150 and have an undergrad degree in accounting. In the state I'm looking to get certified in (NY) I'm aware that I can just get 4 credits from any community college to satisfy the education requirement. I'm wondering if anyone can suggest any 3 or preferably 4 credit college courses (and preferably online) which would add value to someone working in public accounting, as an auditor, specifically. I'm looking for the opposite of a "basket weaving" course, one that would add value to the profession that I am currently working in.

    submitted by /u/Luke8110
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    [U.K.] Considering moving to Canada once ACA qualified at a mid sized firm - How feasible is this?

    Posted: 28 May 2018 12:28 PM PDT

    Hi all

    Just started my training contract at a mid sized firm in Northern England studying for the ACA (The U.K. equivalent of CPA, so I'm told). I'm considering my options and quite fancy a jaunt in Canada for a few years.

    I've had a look at the Canadian immigration information and whilst they say they are in demand for accountants, they specifically list CPA as the preferred qualification. http://noc.esdc.gc.ca/English/noc/Profile.aspx?val=0&val1=1111&ver=16&_ga=2.247186502.374999756.1527534076-1170704984.1527534076

    Please would someone kindly shed some light on the validity of ACA in Canada or abroad more generally?

    My apologies for posting as these types of questions as they seem to be posed every 30 seconds; I inquire only because those posts tend to be Americans with American qualifications.

    Cheers in any case!

    submitted by /u/ErnestUlysses
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    How much do people respect accountants based off your real life experiences?

    Posted: 28 May 2018 03:58 AM PDT

    Just wondering but have any of you guys ever gotten the vibe that non-accountants think your smart or something when you tell them your an accountant? Even in college a lot of the engineering/science majors thought I was close to their intelligence level lol...

    A while back I went to buy furniture and after I told the younger sales guy I'm an accountant he seemed a little intimidated and thought for some reason I knew the real prices of the furniture market or something (I didn't) and easily brought down the price (or maybe he wouldve done that for anybody? idk) just thought it was a little fishy he did it so easily

    Just curious what you guys think based off your experiences.

    submitted by /u/RadiographicAdult
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    I need some serious career advice before I make this next decision.

    Posted: 28 May 2018 06:49 PM PDT

    My current company is an incredibly toxic environment. My controller wants me to stay and pay me as an accounting clerk forever but giving me Staff Accountant job roles. I have finally had enough. I have my bachelors and will be taking the CPA throughout this year. I have already had him sign my CPA work requirement and will be turning in my resignation soon.

    I have two 'entry level' staff accountant interviews this week even though I have 5 year or accounting experience (I just recently finished my bachelors in accounting and am 28, which is why my recruiter keeps finding me entry level positions I guess). I have been researching these companies and they have HORRIBLE reviews and I really do not want to work somewhere where I will be so stressed and over-worked that I wont be able to concentrate on my studies. Just thinking about the BS stresses me out and Staff Accountants are treated like glorified admins here in North Carolina. I am in a financial position where I could be able to go part time and focus the rest of my time studying and passing the CPA. I can then find hopefully find a decent CPA job, that will hopefully pay me well enough for me to tolerate the BS.

    I wanted to know what you guys would do in this circumstance.

    Part of me is like; "You wont have this opportunity again, work part time and focus on CPA, and avoid the bullshit roles"

    Part of me is like; "There is no such thing as a 'decent company' these days and the experience you will gain will be worth it? and I am sure that I will have the energy to study after work, everyone does it!"

    submitted by /u/engineNumbernine21
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    Big 4 Background Check

    Posted: 28 May 2018 02:39 PM PDT

    Maybe I am being paranoid here, but will being fired from two jobs during college jeopardize a Big 4 offer? Neither of those jobs were relevant to the position I am applying for (experienced hire position).

    submitted by /u/Idahomi3
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    [CAN] CFE Unpaid Time Off

    Posted: 28 May 2018 06:15 PM PDT

    Heyo,

    Got a question for the Canadian crowd here, who have taken/are taking the CFE.

    1) Did you receive unpaid time off before & during the CFE? If so, how long did you ask for? How long did you end up getting?

    2) Were you ever denied the unpaid time off?

    3) Do you think you had too much time off (could you have done it with less time off)? What amount of time would you be comfortable with having?

    Thanks,

    submitted by /u/Shs21
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    I have a sub 3 gpa, what can i do?

    Posted: 28 May 2018 01:33 PM PDT

    I'm heading into my last year of college and recruiting is happening in the fall. My GPA overall is about a 2.7, a 2.6 in accounting, i'm trying to raise that, but i can't wrap my head around some of the required classes i'm taking. The highest i can raise it is maybe a 2.9 if i were to get Bs in the accounting and stats class i'm taking, but i can't get an A in accounting after missing a couple points and i am having trouble with the stats class (which is thankfully curved), but if i were to get an A in stats i'd be at a 3.0 before Fall.

    I think i could raise it much higher after my senior year, even if i have to take more easy A classes, but with recruiting in the fall i just worry i won't have a job lined up after i graduate.

    Rather than sulk, what can i do? Both in these last few weeks and during the summer?

    submitted by /u/MelancholyTeddyBear
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    Upcoming PWC leardership summit

    Posted: 28 May 2018 03:57 PM PDT

    So there is an open link to apply to a PWC leadership summit on my schools job site. However, it states: Pursing a Bachelor degree in a business, accounting, technology or related field (sophomore or junior standing).
    I am a senior who graduates this December. Does that mean my application will likely get weeded out pretty quick as a no or are they ever lenient with their applicants?

    submitted by /u/FlexasAandM
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    Need help with career decision!

    Posted: 28 May 2018 07:30 PM PDT

    HI guys, So just to give you a little background I passed my CFE in 2017 and starting new year I finally got a job at an accounting firm and am working there now since the new year. This firm has about 5-10 people, all white and I am only visible minority. So we have two students in the office including myself and the other student is pretty much the manager's favourite and he is constantly on audits/review engagements and he often goes out to client sites as well while I never really got any chance too. That student is pretty good at work and does work fast (although he does make mistakes from time to time). I am too learning and improving but I just feel like my manager favourites him too much and never really gives out any chance to me. I've had couple of audit but (these were first audits I've ever done) no one really taught me or guided me through it thoroughly so I did a bad job and my manager seemed to be bit upset with it. So ever since then I've never really had any audits or review engagements. Just doing working paper file and bookkeeping stuff. From what I've heard and seen, the turnover rate is quite high - for example, the firm fired 2 people within last 2 months and generally people stay here for 1-2 years and leave elsewhere. One other student also left recently (that student got along very well with the firm people though)as soon as he got his CPA title. Sometimes when I'm done all my assigned work I'm waiting for 1-2 hours just to look for work and get new work assigned. I would ask for new work and my manager will get back to me by like, 1 hour or 2 hour later with new work. The other student I mentioned above is always busy and always have something to do and they always give him work.

    There was also one time, it was about 1 month into work and the manager accused me of something that I did not do. He even had someone check on it because he thought I was lying and I was quite upset with the way he immediately assumed that I was the wrongdoer and a liar. And he never apologized me even after it was revealed that I was being honest.

    Once my manager threw a joke to me to 'lick his shoes' and although he laughed off saying he was joking, I did not really find it funny but quite insulting. And there are times when I told him (e.g. telling him in 'helping way', that he needs to press the stapler all the way down because its very heavy) he says things like 'oh i've been working here over 6 years i know that' My relationship with my manager is that we do maintain professional relationship but I do feel I'm not valued here. My mind is telling me for some time that my manager is doing that to me because he wants me to quit.

    I am trying hard and I am willing to learn and I did improve over the 5 months so far but I am not being valued and I am not feeling quite happy either. This is too, de-motivating me as well.

    So my dilemma is, I do want to leave here and find maybe a bigger mid size or bigger private firm. But I've only been in this accounting firm for about 5 months. I am not sure if recruiters are going to even pick up my resume only having 5 months of experience. Should I give it a try to look out for another job now or should I just suck it up and wait until like, 1 year is over then apply elsewhere? This firm is my first public accounting experience.

    Thanks a bunch for reading and please feel free to put your recommendations/advice!

    submitted by /u/CoCoMou5e
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    Does anyone here use Netsuite at work? Do you like it? Does it work well for reporting? Entering invoices? Any thoughts or comments on the program?

    Posted: 28 May 2018 07:20 PM PDT

    How do you stay in your cubicle?

    Posted: 28 May 2018 09:17 PM PDT

    I'm 35 and have been in public for about a year and a half. Based on the horror stories I've read here, my firm is not that bad of a place overall. I'm thankful to have this job, even though I'm bored to tears every moment of every day.

    This is my first desk job. Before this I was stocking shelves and running around warehouses. Since I started public, I've gained 25 lbs and started to hate life. I drink way more than I used to. I'm so freaking restless at work. I do good work but take so many breaks that my day goes way longer than it should for the work I have to get done.

    I've found I can stay really focused for about 45 min at most and then I get up and walk laps around my building or go eat free cheese-its and M&Ms. No one has really said anything, but I just got a bad review for low billable and being mia when people looking for me.

    When I'm in the field I've noticed that the rest of the team has no problem sitting for hours like bumps on a log. And they love to eat 3 huge meals a day, which just makes it worse because you get all bloated and sleepy. On top of that o don't feel like I can relate to anyone I work with on a personal level.

    I won't go back to retail, but have been thinking about maybe bartending? Idk. How do you guys deal with sitting and staring at a screen that long? Just shut up and deal with it?

    submitted by /u/flossboss666
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    EY Tax Interns

    Posted: 28 May 2018 05:21 PM PDT

    So I'm going to be starting my internship in a couple weeks with EY's National Tax Department. The interns who get full time offers at the end of the internship go to Orlando for some kind of conference. My friend who is also starting in a couple weeks already got an email to register for that conference and I haven't received anything. Should I be worried?

    submitted by /u/BrightDeskLamp
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    [CA] CPA Canada Learning eBooks

    Posted: 28 May 2018 08:43 PM PDT

    Hi, I am just wondering if anyone here can share the ebooks, thanks.

    submitted by /u/sui146714
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    How hard is Risk Assurance? I’m nervous

    Posted: 28 May 2018 08:38 PM PDT

    Hey guys I hope all is well. I had a question that's been bugging me for the past few months. I received an internship with a Big4 in risk Assurance, but I'm nervous about how hard it's going to be. I'm not a stupid person however I'm not super smart either. I'm very good with people, but I have some kind of perception that these kinds of roles are extremely professional with no time for fun and extremely technical is this correct? Do coworkers have time for fun or is it just straight to business? Thanks for all of the help I appreciate it guys! I just want to make sure I'm ready for what I'm getting myself into.

    submitted by /u/Ricecupnow
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    Exit plan out of forensic accounting

    Posted: 28 May 2018 12:23 PM PDT

    Basically I'm an S3 with a B4 and I have the opportunity to go to a forensic accounting firm if I want. I'm not interested in staying until manager with my current firm. So, it's either forensic accounting or a switch to industry- finance or technical accounting. While the position seems interesting to me I am not sure I want to do forensic accounting for the rest of my life. I'm looking for advice on what this role could set me up for after a few years. Anyone had a similar experience?

    Edit: A3 to S3

    submitted by /u/Rogueclover1
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    Best traits to highlight for Big 4 job?

    Posted: 28 May 2018 08:22 AM PDT

    From this sub and Google, I understand Big 4 wants a high GPA, either work/relevant work and/or student activities, ability to work long hours, aptitude and desire to learn, works well in a team environment, and good communication skills, someone who won't quit after one busy season, and someone who won't embarrass them in front of a client. I also understand networking can be a big part of getting an interview.  

    Am I missing anything here? The reason for the question is to tailor bullet points on my resume to this stuff along with guiding LinkedIn recommendations. On the later, I might ask my boss at my part time job to highlight communication skills and ability to work in a team environment although I might be missing other traits to highlight here.

    submitted by /u/dragoon2745
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    AICPA Released Questions 2018

    Posted: 28 May 2018 07:36 PM PDT

    Anyone know where I can find it? I have Wiley and Exammatrix. Shitty Wiley CS said they never heard of it.

    submitted by /u/graysonfio
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    Buying a bookkeeping firm

    Posted: 28 May 2018 07:26 PM PDT

    I have an opportunity to buy a small bookkeeping firm (5 - 6 employees)

    What is the future outlook for small bookkeeping firm? Is it a good business to get into? Will advancement in technology threaten these businesses?

    The firm has staff that have been there between 5 to 15 years. I may not be required to do book keeping and I dont have any experience in bookkeeping (but willing to get trained).

    How difficult is to hire good bookkeepers (if I need to), if the old folks quit? Anything in particular I should be assessing before purchasing the business?

    submitted by /u/Jayc2017
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    Is doing the Wiley sims even helping?

    Posted: 28 May 2018 07:02 PM PDT

    I'm taking REG next Monday and only have a limited amount of study time until then. I still have like 75 practice sims on Wiley that I never got through, but every time I take one I mess it all up and get it wrong. But they just added ~800 new MCQs, so now I have to figure out whether I should work on the sims or the MCQs. It doesn't feel like the sims are helping me at all, but I'm getting really down about the fact that I can't seem to get any right and I don't know if I should stick with that.

    What should I do? Thanks in advance.

    EDIT: wow, it's starting to look like the "new" MCQs are duplicates of the old ones. Thanks Wiley!!!!

    submitted by /u/PeachFoam
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    Some of the Big 4's slogan and their marketing language can be used on your resume quite well.

    Posted: 28 May 2018 12:45 PM PDT

    For example, EY's delivering exceptional client services can be used when writing a resume where you have to demonstrate customer service.

    submitted by /u/nerdywiththeword
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