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    Monday, July 2, 2018

    Accounting For everyone with a 6/30 year end

    Accounting For everyone with a 6/30 year end


    For everyone with a 6/30 year end

    Posted: 02 Jul 2018 08:05 AM PDT

    PWC Hit with $625 million judgment in Colonial Bank case

    Posted: 02 Jul 2018 11:06 AM PDT

    Just got off the phone with a colleague. No press sites have reported on it yet, but Judge Rothstein has ruled in favor of the FDIC, awarding them $625,309,085 in damages. Dropbox link to the order.

    Edit: Wall Street Journal is the first to report on the judgment.

    Edit 2: Marketwatch is reporting on it, confirms this is the largest auditor damages award ever.

    submitted by /u/wrathking
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    I just had 2 hr 30 minute interview for AP Clerk position

    Posted: 02 Jul 2018 06:21 PM PDT

    they had me take 3 different excel tests and a/p clerk related questions (invoices, bills) and I had to interview with 3 people. I have no experience in accounting or any accounting related experience so i didn't know how to answer a/p clerk questions. Are interviews generally like this? I've never had interviews like this

    submitted by /u/ryan95227
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    Took FAR today...

    Posted: 02 Jul 2018 01:35 PM PDT

    ...Or at least half of it before he power went out. Now I have to study over the Fourth of July and take it Friday.

    submitted by /u/ButterballFUPA
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    Tax to Audit

    Posted: 02 Jul 2018 08:48 PM PDT

    MS in accounting - graduated 2014 Passed all CPA exams

    Hi all- I needed some advice from you. I'm currently working in Corporate tax department at a Fortune 100 company. Been here from past 2 years. I don't enjoy tax that much and always been interested in audit. But I'm finding it hard to make this change. I have applied for entry level roles in several medium to Big CPA firms but nothing worked out. Could you please share your suggestions on how I could pivot to an audit or non tax job in public/ industry. Appreciate your inputs. Thanks!

    submitted by /u/accountrama
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    Would you accept a B4 audit job with 90% travel required?

    Posted: 02 Jul 2018 06:12 PM PDT

    Job posting says 90% travel required outside of normal commute.

    Would you accept this job if it were with B4?

    Also, what exactly does it even mean? Does it mean you are out of town for 90% of the year and in office approximately 10% of the year?

    submitted by /u/AccessDeniedx
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    Would companies benefit from single-payer healthcare?

    Posted: 02 Jul 2018 03:13 PM PDT

    If the government provides healthcare through individual taxes, would this benefit corporations? Since companies could save on providing healthcare.

    submitted by /u/NawfalKulam
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    Bought myself a little cool gadget for passing the CPA exam

    Posted: 02 Jul 2018 04:05 AM PDT

    Small local firm interview

    Posted: 02 Jul 2018 05:42 PM PDT

    I have an interview for a bookkeeping position at a small local firm. I'm in my last semester of undergrad this fall. I've been in accounting/bookkeeping the last ~four years so I have obvious entry level/intermediate accounting skills. I guess my question is this - I've never worked in public accounting. What does a small firm want from its bookkeepers? Any good interview tips? Does anyone have any insight to what my responsibilities would be? Would I have any engagement/involvement with clients? Or assist in returns or anything like that? Or would it be mostly office/admin kind of things? Just wanting to know what to expect and also really want to nail this interview. It would be a great place to work while pursuing my CPA and could possibly land a role at the firm once I do.

    Side question - are people ever sticklers or just assholes about saying bookkeeping versus accounting? Would you ever correct someone that said they're an accountant by telling them that they're just a bookkeeper?

    Thanks!

    submitted by /u/OffshoreDay
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    Senior accountant vs audit I

    Posted: 02 Jul 2018 09:16 PM PDT

    Hi guys, I currently work as a staff accountant at a mid sized CPA firm in NYC and our client base is nonprofit organizations only. I do financial reporting and consulting for clients. I have been here for 2 years (first full time job out of grad school) and will be promoted to senior within a month. However, our audit department just reached out to me and offered me an audit I position. One of my biggest goals is getting an audit position at the big 4 so which position would be more beneficial for me in achieving that goal? do I take the promotion to senior or take the audit I position? either way I will still look for audit opportunities at other companies because I really want to move away from nonprofit clients and get into different industries. But until I secure a job at another company, which position would be better for me (or look better on resume) to achieve my ultimate goal and land an audit position at the big 4? Not sure if it matters but I am a CPA.

    Edit: here are some thoughts on the pros and cons of each. Senior position - will get a bump in salary, get to supervise and receive support from 2 staff accountants (already have that currently) and a few interns. Responsibilities won't change because I am already doing senior level work right now. The only con is that this will hold me back from getting auditing experience.

    Audit position - can finally get some auditing experience (never did audit before) but the cons are lower salary, can't supervise anymore, and if I get an offer from another company within the next few weeks/months, I will have to leave this position. Not only would the audit team/company dislike that, but how would it look on my resume if I leave after a few weeks/months of starting a new position?

    Appreciate all the help I can get. Thanks!

    submitted by /u/CPAeveryday
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    I just got my first recruiting message on LinkedIn. What do I do???

    Posted: 02 Jul 2018 10:11 AM PDT

    I breathed deep, then called up my plug for some 8 ball. Now what?

    submitted by /u/cowtaleluvr
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    Tax?

    Posted: 02 Jul 2018 10:58 AM PDT

    I was looking to get into tax for an internship. However, I've heard exit opps are terrible in Tax. I was considering going into International Tax or Federal Tax (Corporate) at a RSM/GT/BDO level firm as I am doing an SLP this summer so there's a possibility for an internship offer. I haven't had an internship or class in either, but the aspect of no travel and having a set routine attract me to Tax. I wanted to see what r/Accounting had to say about it.

    submitted by /u/PlentyGuess
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    when a recruit adds you on linkedin

    Posted: 02 Jul 2018 08:40 PM PDT

    is this prime opportunity to reach out to them and introduce yourself?

    submitted by /u/New2Adrafinil
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    Odds of making it straight into banking?

    Posted: 02 Jul 2018 04:27 PM PDT

    Hello all,

    I currently am about to start a 2 year Master of Accountancy program at a top public university (I believe the MAcc program is top 10 in the country for public schools).

    Going into the program, I currently have 3 corporate finance internships on my resume and I am about to begin an accounting internship which I will do part-time during the first year of the program.

    Obviously I plan to intern again in the summer between the first and second year of the MAcc program. My question is, what are the odds I could secure a banking internship instead of going the B4 route? I'm currently slated to meet with campus recruiters from all big 4 firms in the near future to recruit for the summer of '19.

    The trajectory I've been planning on so far would be to intern at b4 next summer, secure a full time role for after completion of the program, take the CPA, grind it out, and then depending on how the cards fall after a few years in public accounting attempt to move into banking.

    However, if I could circumvent that whole process and just dive straight into banking, I would be inclined to do so.

    Any and all thoughts are welcome. I'm just not sure if banks would consider me for a summer internship given my qualifications. However I would have to imagine that with 3 FP&A internships & 1 accounting internship totaling over nearly two years of experience, there has to be a shot I could get my foot in the door.

    Thanks!

    submitted by /u/itsrmac
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    How long should I stay at my internship?

    Posted: 02 Jul 2018 04:26 PM PDT

    Hi, I'm 19 and currently about to head into my 3rd year as an Accounting major. I'm interning at a VERY small CPA firm. Literally just my boss and me. My boss expects me to be there for the next 2 years, until I graduate, and constantly tells me that everything she does I will eventually have to do. She expects me to pick up everything (payroll,bookkeeping,emails,taxprep,payments,scanning,etc) AND read entire tax form intructions, which are hundreds of pages long, within the next 3 months. I've basically become an accounting assistant with absolutely no previous experience. I feel as if I have such a heavy weight on my shoulders because of it.

    I don't know what to do about this. It's good exposure, but I feel as if it's just too much. Is this normal for an intern to have so much workload? Should I stay the full 2 years?

    submitted by /u/LovelyJAV
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    Whats a common career path for a staff accountant?

    Posted: 02 Jul 2018 04:14 PM PDT

    I know that the usual plan for people going into public is to hold out for 2-3 years and jump into industry where you will most likely be offered some sort of managerial role. But what about staff accountants? I have read on some sites saying that staff accountants tend to stay staff accountants and that you have a high risk of becoming stagnant in your career. Is it possible to go from staff accountant on to senior or even managerial roles and then possibly in the future move into an assistant controller or even controller position? Or would this require more job hopping?

    Basically is starting out as a staff accountant a bad thing for your career or will be what you make out of it?

    submitted by /u/forestgather50
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    Is it difficult to be an accountant?

    Posted: 02 Jul 2018 01:52 PM PDT

    Hey all. Sorry if this is a silly question. But I'm looking to make a career change from Technical Support. I'm pretty decent at basic math. I saw on America's got talent a guy that was an accountant and he basically was just filling out excel sheets. That really buttered my egg roll. I'm sure there is varying degrees of accounting but for someone with no experience, is there a way in? What's the expectations? If y'all could share your day to day that would help me base a decision!

    submitted by /u/tetcon
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    How important is it to attend college in the city/state in which you wish to start your life?

    Posted: 02 Jul 2018 12:17 PM PDT

    I want to go back to school for accounting, but I do not wish to remain where I am currently located long-term. However, i am receiving medical treatment estimated to last until April 2020 and am looking to now switch doctors. I'm aware networking is important to starting a career, would I have difficulty moving away if I get my degree where I am now? (I could possibly transfer for the last semester to where I would like to live, but I don't know if that would make sense).

    submitted by /u/h00th00t95
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    Did I absolutely fuck up by jumping from FS audit to IT Audit?

    Posted: 02 Jul 2018 03:34 PM PDT

    I really don't like FS audit because I just don't love accounting. I feel like IT is something more in my wheelhouse. However, the work is obviously soul sucking and it's moving me back from exit ops like FP&A.

    Going in as a Senior 2 to a regional firm.

    4 years FS audit experience 9 months FP&A

    Huge fuck up?

    submitted by /u/GypsyPunk
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    Advice needed for starting career in accounting

    Posted: 02 Jul 2018 03:09 PM PDT

    So I just graduated college in May with a bachelor's in accounting and 120 credits. Due to my laziness in preparing for the accounting path while pursuing another career originally I am now out of college with an accounting degree and no internship or job in accounting, and no solid plan to get the 30 more credits necessary for taking the CPA exam. I also don't have any work experience in accounting. What kind of accounting-related jobs could I realistically get right now? What would be the best way for me to get the remaining credits as soon as possible? Does it matter if they have nothing to do with accounting or is it important that I take a masters of accounting program? I'm open to a wide range of ideas and appreciate any advice from people already working in the field.

    submitted by /u/dcarmex1
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    Question about working for the big 4.

    Posted: 02 Jul 2018 02:55 PM PDT

    One of my lifetime goals is to live and work in Germany or Austria. I've heard of people working for the big 4 transferring from the US to German offices. How possible is this and how quickly could it happen?

    submitted by /u/Slaygadeth1
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    What is onboarding like for new B4 Senior Auditors?

    Posted: 02 Jul 2018 07:46 AM PDT

    Do new Senior Auditor hires get special onboarding training during their first week for example or are they expected to basically hit the ground running from day one and make mistakes/learn as they go?

    From your experience, have you mostly seen outside hires make it or break it when joining B4?

    Any advice or recommendations would be appreciated.

    submitted by /u/AccessDeniedx
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    Quick CPA exam question

    Posted: 02 Jul 2018 01:57 PM PDT

    K, help.

    I passed AUD, BEC, and FAR all first try and all within 1 testing window. This blew me away to the point that I could not even focus on REG for the next until now. I take it the 6th, so I have 3 full days between me and the exam.

    I am not rescheduling.

    I have reviewed everything except so far completely ignored corporate tax. Not even opened R3, R4, or R5.

    Assuming I am going to spend 16 hours per day b/w now and then studying, 7 sleeping, and 1 eating/going places (like the bathroom)...

    How can I best allocate my time? Where should I focus?

    I'm not fucked. I promise I can do this. Thanks.

    submitted by /u/INAPICTTAA
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