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    Tuesday, July 31, 2018

    Accounting Saving my workpapers like

    Accounting Saving my workpapers like


    Saving my workpapers like

    Posted: 31 Jul 2018 07:47 AM PDT

    HR just complained to me about how much her job sucks because she had to work 45 hours last week

    Posted: 31 Jul 2018 12:19 PM PDT

    Not friends with HOTCPA, apparently...

    Posted: 31 Jul 2018 11:39 AM PDT

    There should be a Suits, but for accountants

    Posted: 31 Jul 2018 12:52 PM PDT

    I don't even know what it would look like, but I want it.

    Maybe something like Billions, but with smaller bonuses? 10-Ks ?

    submitted by /u/allnose
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    Do I roll over and die if I don't want to do the whole recruitment thing? [CAN]

    Posted: 31 Jul 2018 07:46 PM PDT

    Third year student here. First of all, I'd like to work in public because I don't really think I can stand doing the same work for the same company for years on end. At least in public you get to work on different clients. However, not a lot of firms (no big4) recruit at my school, York University, so I suppose I would really have to go the extra mile to get in touch with recruiters and sneak into meet-and-greets at Schulich/other schools or whatnot. Except I don't really wanna do that. I don't even really wanna participate in the accounting club at school and its events. Whatever the case, I suppose the message I'm sending out is I don't want it enough. But just for the record, I don't mind doing work when it comes to doing actual work. I just can't get myself to care about the whole social aspect of this thing. So is this a red flag? Am I boned if I don't participate? Can't I just walk into their office and ask for a manager and shake their hands?

    submitted by /u/accQ321
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    crazy tax deductions?

    Posted: 31 Jul 2018 01:35 PM PDT

    I recently worked with a panel of accountants to find out the craziest tax deductions they have ever been asked for: https://blog.tsheets.com/2018/just-for-fun/crazy-tax-deductions

    It got me wondering what kinds of CRAZY deductions have clients asked you for, both legitimate and not legitimate?

    Let's all have a good laugh!

    submitted by /u/ldarrow
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    Jumping B4 to Small Firm

    Posted: 31 Jul 2018 04:53 PM PDT

    I figured I'd just throw it out here to see what people's thoughts were.

    Currently B4 in midwest low COL for about a year now. I get a call from a recruiter for a specialized assurance role that may pay substantially more (it could be 30-40%).

    My question is, is it worth jumping so early? It'd still be public accounting so I don't really see the drawbacks of leaving.

    I'd talk to my coach but I've heard it's not really "safe" to talk about leaving a firm, especially this early.

    Thoughts appreciated!

    submitted by /u/acct1010ruinedme
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    [META] Could we allow an occasional recruiting thread?

    Posted: 31 Jul 2018 06:09 AM PDT

    I understand not wanting this subreddit to turn into a spamming ground for recruitment consultants, but a number of us are looking for jobs, looking for employees or simply hoping to pocket some referral fees. Maybe a once a month thread? [EDIT] Message from the mod team:

    "Random idea, but you could have a whole subreddit about it. I'm not saying we wouldn't promote that at least.

    There's a few problems I have with this idea, that I have almost no interest in "figuring out" or making changes to the subreddit in order to manage this.

    •This encourages people to reveal their real identity because of the enticing referral fees. The referrer and candidate do have to share some personal information to do this.

    •This subreddit is definitely not supposed to be a job board, and if anything is supposed to be a place where people feel disconnected from their job - they can rant, ramble, praise, and discuss the firms without the feeling that they could be working on recruitment. I don't want people to feel like there COULD be an opportunity for recruitment, if only they focused on praising their firm rather than just shooting the shit.

    •We've taken a really laissez-faire method to moderation, which is fine. However, this means we haven't really created a fleshed out modteam capable of monitoring recruitment threads...which I feel like we might need to put a bit of extra care into, especially if we set some rules about how to avoid revealing too much personal information.

    That said, I actually think this could work better with a separate subreddit AND it would work better with a modteam focused on fixing the issues I outlined above like how to encourage people to not reveal personal information with no care for it, how to make a good referral post, and how to moderate all of it.

    Not even saying you need to be that moderator - but maybe you could kick it off, and find people who want to do that. Considering the revolving door of accounting it might be a fairly "fast moving" subreddit. Especially in recruiting season. "

    I agree with the mod team and note your points below which are well made. There are certainly pros and cons but the cons could be significant for some individuals and it isn't worth risking damaging the sub. If someone fancies creating a separate sub then please message the mods once it is ready so that they can flag it for everyone's attention. I don't have the time to create or manage such a sub myself and would then post the job openings we have in London that started me thinking about this in the first place.

    submitted by /u/LurkFromHomeAskMeHow
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    Just took BEC

    Posted: 31 Jul 2018 02:45 PM PDT

    I feel pretty good about it. It also made me realize how bad Becker is when it comes to coverage of the IT stuff

    submitted by /u/Puckslapper2
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    People at small firms - who's still using paper workpapers and who's onto electronic workpapers? I need to vent.

    Posted: 31 Jul 2018 03:12 PM PDT

    I'm moving my small firm from paper workpapers to electronic workpapers. It's a slow process - we're starting with the clients that email or send up docs through our portal/ use dropbox.

    I'm working on one (thankfully) small client that just mailed in a stack of papers. Including a printed copy of my email to him asking for more info (and answered inline, as you might an email - except he didn't just hit reply!) And then I noticed on the top left corner is the unmistakable mark of a staple that went through a copy machine. This isn't just a printout of an email he could have replied to, this is a copy of a printout.

    W.T.F.?

    submitted by /u/redditbobby
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    Why do so many businesses have so many companies between them and the ultimate parent company?

    Posted: 31 Jul 2018 01:57 PM PDT

    Often while researching company ownership on Companies House UK (r/https://www.gov.uk/government/organisations/companies-house) I've noticed this. One example is Thames Water, which provides sewerage services; their ownership structure: r/https://corporate.thameswater.co.uk/About-us/Our-investors/Our-corporate-governance/Ownership-structure .

    I have zero accounting/legal/financial knowledge.

    Thanks.

    submitted by /u/InsanePompeii
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    (Canada) Open to career path suggestions - is an accounting diploma worth it?

    Posted: 31 Jul 2018 09:00 PM PDT

    Hi Reddit, hoping for a little insight from people working in the field as to where I should take things from here.

    Backstory: I'm 29 and live in Vancouver. I don't have a degree, I went to school to be an MOA and worked in healthcare briefly, but mostly I've worked in various admin/accounting clerk positions over the last 8 or so years. I've taken random community college courses in business, finance, English (for fun, lol), HR, etc. but any credits I have from that are not transferable. To be totally honest, I'm not super excited by numbers, but I do enjoy the theory and business aspect of accounting, and I've had enough exposure to say confidently that probably I wouldn't hate it. I also prefer to work independently as opposed to a super collaborative environment. I'm smart and I do very well in school, but at present I feel quite stuck and forever under-employed because although I had the opportunity to go to university, 18 year old me thought it was a waste of time.

    I currently make 46k a year as an admin & accounting assistant/receptionist, and I'm considering taking an accounting diploma online to upgrade my earning potential. I'm looking specifically at the one offered by Thompson Rivers University because it's online and I need that flexibility. From what I understand their program is as good as any others, and it ladders into degrees if I chose to, but that isn't the goal.

    My question is if this would even be worthwhile to invest the time and energy required into just a diploma. My last job was in accounts payable for a large company, and none of us in the clerk positions had any accounting education because we reported to the controller (and from what I've heard this is pretty standard) but most diploma programs advertise their outcomes as working in AP or AR, and I obviously don't want to go to school just to do something I've already done.

    I think I've just about hit my ceiling for salary with my current education level, but I don't want to make a huge career change. Ideally, I'd see myself maybe as an accountant for a small company, doing payroll and the daily/monthly stuff. I'd like to be earning more like 60k, is that reasonable without a degree? Would an accounting diploma have me making the same money in the same types of positions as I am already, maybe with a slightly different title? I don't earn a lot currently but I'm responsible with my money and have absolutely no debt, so I'm concerned about taking on student loans to get nowhere.

    So in your opinion, would it be a worthwhile move? Any other suggestions, advice, or things I may not have thought of?

    submitted by /u/twiceworsethanned
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    [CAN] Is it easy to become a CPA PEP Facilitator?

    Posted: 31 Jul 2018 06:15 PM PDT

    I am about to get my letters, enjoy the academic aspect of accounting and am hoping to make some extra money teaching online. It seems that anyone is able to apply online to be a CPA PEP facilitator, but an actual offer is dependent on their performance at a training session. Does anyone here know how competitive the process is?

    Link to job description to those who aren't familiar. Thanks in advance!

    submitted by /u/stilllifewithkitty
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    Career move?

    Posted: 31 Jul 2018 04:27 PM PDT

    I'm just looking for some advice as I feel like I'm in a career rut. I'm a 2nd year tax manager at a big 4 firm doing mostly corporate compliance and consulting and a handful of individuals, trusts, partnerships. Half the time I enjoy the job and the benefits and flexibility of working at a big 4. The other half of the time I feel burned out - over the politics of the job, the constant busy season, and the technical challenges on so many different clients every day. Don't get me wrong, it's better than mindlessly transcribing numbers... it's just every day is so challenging it's exhausting. I feel like it may be time for a change but I'm unsure what direction to even go - industry? Smaller PA firm? Government? Switch to financial analyst? I'd love to hear anyone's perspective :)

    submitted by /u/tax-accountant
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    Just landed my first ever CPA Firm job as a Staff Accountant! Any advice on how NOT to be a dumb ass? - also wondering about the salary they offered. Details in body.

    Posted: 31 Jul 2018 09:10 AM PDT

    Hey guys, so I got my first job at a CPA firm near me here in North Carolina (Small Firm like 8-10 CPA's) They offered me a salary of $48,500, do you guys consider that fair?. They are paying 100% of my health insurance (So nothing comes out of my paychecks, they pay for it ALL), 4% matching on my 401-k, I get my own actual office (From being in cubicles forever I almost lost my shit when I saw how pretty my desk and office is), we get bonuses at the each of each year depending on performance, and they are giving me 2 years to pass all 4 parts of the CPA, then will hire me as a CPA instead of Staff.

    They also mentioned that they are pretty slow during the fall, so I would be allowed to study for the CPA in my office. I feel like 48500 is pretty fair, considering that the office is literally 5 minutes from my apartment and traffic will be a breeze (I used to commute 3 hours each day at my previous job).

    I am panicking because nothing good ever happens to me ( I am paranoid) and sadly I have worked for really toxic companies before this, so I am jaded. I really want to learn and grow in my career. I am 28 and not getting any younger, or hotter. The CPA's all seem so genuine and they treated their receptionist with so much respect, which says a lot about the vibe there. I recently left a mediocre Staff position at a manufacturing company where I worked for an actual sociopath. I was over worked and paid a lot less than what this new salary is offering.

    I find myself feeling very lucky because honestly while the job market is not bad, as far as the amounts of jobs that are out there. Companies these days just want to pay you NOTHING to do the work of like 25964346464 bookkeepers. So getting to finally feel like I am not getting taken advantage of is comforting.

    I may be venting right now but it's because I have no friends ( I am OK with that for the moment, just focusing on my shit, and saving money, plus all my friends have families with children in them) So I REALLY want to do a great job! So any advice from anyone will greatly be appreciated.

    Wish me luck on this journey..... and may the force forever be with me!!!!!! <3

    submitted by /u/engineNumbernine21
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    [CAN] CFE - How similar were the CFE cases to the Capstone 2 cases?

    Posted: 31 Jul 2018 05:08 PM PDT

    I'm trying to figure out how best to study so I wanted to know, from past writers, were the cases on the CFE similar to the practice cases given in Capstone 2? Were the issues similar, or was there no correlation? I noticed that for the modules the module cases were similar to the exam, so just wanted to see if this was the same for the CFE!

    Thanks in advance!

    submitted by /u/LadyoftheLedgers
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    Is everyone as competent as they seem? or is everyone faking it?

    Posted: 31 Jul 2018 06:54 AM PDT

    What is it like working more than 40 hours and how did you get used to it?

    Posted: 31 Jul 2018 10:35 PM PDT

    From my recruiting experience many have said that having a good team helped the time go by faster. But I am looking for a more concrete and serious answer just to know what I'm getting myself into.

    submitted by /u/teafan1
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    Two Interviews booked for the same position - is this normal ?

    Posted: 31 Jul 2018 01:44 PM PDT

    Hey all,

    I just got interviews booked ahead of time at a midsize firm in Canada. These are two interviews for the same position - the 1st is with the Managing Partner and the 2nd is with the a Senior Manager

    I would have expected to get the second interview booked only AFTER the first one went well so I was surprised to have two interviews booked at once. is this normal ?

    Any advice appreciated - thanks !

    submitted by /u/BreezyNate
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    Qualities for a good CPA - please help!

    Posted: 31 Jul 2018 04:26 PM PDT

    My boss (and I, by extension) are probably going to be looking for a new CPA soon. I work with a clinical psychologist, a small business (he's the only person running the show; I'm the office guru and problem solver). I've had a pretty serious run-in with our current CPA. I'm quite concerned, honestly, about the implications from her (lack of) action.

    Let me backtrack a bit. During the 4th quarter of 2017 and part of 1st quarter 2018, there was a complete moron sitting at my desk. Didn't do shit she was supposed to, lost track of important shit, yadda yadda. Real winner. Anyway, apparently the accountant sent a bunch of emails regarding 4th quarter taxes that, she says, were never responded to (which doesn't really surprise me, to be fair). So fast forward to the end of the 1st quarter 2018. I've been working there all of a month. I've got to file the first quarter AND 4th quarter because my predecessor was a fucking asshole. CPA comes in begrudgingly, sits down, shows me how to file the stuff. The extra 4th quarter forms she said she'd do. She said she'd get everything in order for federal taxes, etc etc. Awesome, right?

    Second quarter comes. I file all my shit like the badass employee I am. I call her and ask her if she's filed any of the 4th quarter shit. She says no. I ask her if she's even finished anything. She says no. How far has she gotten? "not very". Did she get the stuff I sent her that she requested? Yes. She just said "other stuff came up". So I remind her that my boss is probably going to pay out the ass in tax penalties because...4th quarter. "Yeah, probably so." ".......well..." "Well if you guys had bothered to answer any of my emails, this wouldn't be happening". Fair point. I also gently remind her that I didn't even work here then, and since it's almost 8 months ago, isn't that kind of water under the bridge at this point? Her response was the ultra-defensive "well I mean, I can just go ahead and quit and you can find your own CPA and do this all on your own".

    So, Accountants/CPAs/math gurus - what do I do? If I'm looking for a CPA, what are the qualities I should look for? How do I know if they're worth their money? Can you guys give me any insight from a profession standpoint?

    submitted by /u/kate3544
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    Here I Go Studyin' Again

    Posted: 31 Jul 2018 09:07 AM PDT

    Average debt?

    Posted: 31 Jul 2018 10:25 AM PDT

    Curious about how much debt you guys have? How quickly have you guys paid it off? Do any public firms reimburse for student loan debt?

    I paid a good portion of mine off, but due to screwing around when I was younger and wasting time in school, I'll likely have around 30-40k after all is said and done.

    Does this make you guys nervous? I know this is more of a personal finance conversation, but I'm specifically interested in what you guys have to say seeing as you're all in my field.

    Edit: I suppose I should've asked for more info with regard to salary, progression toward paying debt off vs salary. Feel free to include any more info. I enjoy anecdotes. As for me, I'm planning to go into public after I graduate and will be sitting for the exams prior to starting if all goes as planned.

    submitted by /u/hhaessleraquino
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    how is 300 calculated for estimated tax payment question, and why is first answer february 15

    Posted: 31 Jul 2018 02:07 PM PDT

    IFRS 15 and the definition of "contract"

    Posted: 31 Jul 2018 09:07 PM PDT

    This might be a dumb question.

    I was reading IFRS 15 and it just mentions contracts. I'm understand that a simple sale of good (retailer X selling products in its store) would be a "contract" under this. So if retailer X sold a chair to John Doe with the invoice 9999, the "contract" would be the invoice 9999. Am I getting it right?

    submitted by /u/labradf0rd
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    Advice - Changing Firms

    Posted: 31 Jul 2018 04:33 PM PDT

    I currently have an offer from another major firm in the area and wanted to hear reddits opinion on changing firms. This would be a horizontal change (Senior->Senior). Also, the new role would be in a more specialty area (SALT from regular Tax Compliance) For people who have done this, did you have a counteroffer from your current firm or anything that would help entice you to stay? I am having trouble trying to find a reason why I would not transfer to the new firm and role. Please any advice is helpful to help clear my mind. Thanks!

    submitted by /u/pnwcoug
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