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    Accounting Why am I taking this class?

    July 08, 2018

    Accounting Why am I taking this class?

    Why am I taking this class?

    Posted: 08 Jul 2018 04:45 PM PDT

    Studying for FAR be like

    Posted: 08 Jul 2018 04:04 PM PDT

    CPA Study Pity Party

    Posted: 08 Jul 2018 07:55 AM PDT

    Days like today are the hardest to study.

    The weather is perfect for going to an amusement park, 80 degrees with just enough overcast to keep cool. It's Sunday & my family is at home. I'm moving in less than a month & worry I'll regret not spending more time with them, but I'm already behind my study schedule.

    This is the last time in my life I'll have the opportunity to do these things with them (just graduated, working while living at home until I move for B4) and it just makes me sad. I know this is better for my future and my career, I've always wanted my CPA. But that's just my little dramatic pity party for today.

    Onto the bullshit that really matters, fucking Sims.

    submitted by /u/uncomfortablenoises
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    The Becker Dream

    Posted: 08 Jul 2018 08:03 PM PDT

    How close do you guys live to your office? Is it better to live near clients or office?

    Posted: 08 Jul 2018 03:40 PM PDT

    I'm in audit, so I'm at client sites more often. I know tax is probably going to live closer to their offices. I do go to the office about once a month, but over the summer, I've been going in a lot more often. I don't know if I should live closer to my clients or office. Most of my clients are near downtown of my city, while my office is about 40 minutes away, with traffic. Currently, I live closer to downtown, and it takes me about an hour to get to the office.

    submitted by /u/Send_Nudez_Gurlz
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    The truth about B4 that they don't tell you while in University

    Posted: 08 Jul 2018 03:30 PM PDT

    Work 2-3 years at B4, make it to "Senior", then leave to industry if your goal is to make enough money to live comfortably and support a family, but have no aspirations to make the big bucks.

    Work 5+ years (or at least a few years as Manager) at B4 if you have an idea of what you want to do (private equity, healthcare, construction/manufacturing, etc.) THEN leave to industry with much better exit ops and potential salary.

    The reason they say to leave after 2 years or so is so that the Managers don't have to worry too much about you and have better job security. The goal is to use you up and spit you out in an endless cycle: hire new graduates, overwork them, and make them want to leave.

    Only those with Managerial experience on their resume make it to the big leagues. Leaving after a few years as Senior hardly guarantees much, maybe a few extra dollars a month and some extra free time, but you are still highly expendable.

    If that's all you want, then why get your CPA or even pursue opportunities with B4 in the first place? It would be a big waste.

    True/False? Agree or disagree?

    submitted by /u/AccessDeniedx
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    In case you decide to start an illegal drug business.... REG has you covered.

    Posted: 08 Jul 2018 09:13 PM PDT

    [RANT] Sunday is Funday

    Posted: 08 Jul 2018 03:00 PM PDT

    Audit Senior Rant:

    Well, taking a vacation soon. Manager decided to tell a client a report would be issued in 10 days. Realistically they were open to it being done at the end of August, but my manager really wanted to go the extra mile. My manager who is on vacation right now. As a result, I am working on another Sunday during our least busy time of the year. Additionally, I had to work on the 4th of July. This is all so I can actually take a vacation.

    I was basically told to eat all my "extra" time as well and "evaluate whether the hours worked actually reflects the number on the budget". I am pretty sure between June and July, I have eaten at least 50 hours.

    Yay public accounting!

    submitted by /u/Mrmagicmanny
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    Big 4 audit to FDD Advisory? How do I do it?

    Posted: 08 Jul 2018 06:31 PM PDT

    Hello -

    I have been working for a year in audit, and wondering when is it too early/how I can request switching to FDD advisory? Currently, in a smaller market without an advisory practice so wondering the best route to transfer? Obviously, I am open to relocation.

    submitted by /u/big4basicperson123
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    Passed CPA and Ethics Exam... now what?

    Posted: 08 Jul 2018 08:37 PM PDT

    Long story short, I passed the CPA and ethics exam. Now what?

    I've looked everywhere and it doesn't seem like there's any kind of definitive guideline for what to do now. It seems like there's an actual application for the certification in your state (mine is TN). But someone I work with who got his license last year said he just got something in the mail, and he had to send in an application that way. But I guess it makes sense there's been changes since then since NASBA appears to have made some "upgrades" to their process by becoming more electronic/online friendly.

    Has anyone gone through this process recently? It's incredibly irritating to not have any definitive info on this considering how annoying passing the exam was in itself.

    If there's definitive info out there, then I must be missing it. It seems like all searches just direct you to taking the ethics exam, but nothing beyond that.

    submitted by /u/yokorn
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    Is it worth delaying graduation by a semester to do a winter internship vs summer and having less time to study for the cpa as a result?

    Posted: 08 Jul 2018 03:30 PM PDT

    I am considering doing a winter internship for a few reasons including financial pressure (need to make money and support family) it's kind of hard to wait a whole year vs a semester. Any thoughts or experiences? Thanks !

    submitted by /u/princesmegma
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    How to project the effect of promotional discounts has on sales volume on an I/S?

    Posted: 08 Jul 2018 05:40 PM PDT

    What is generally the best way to forecast the effect of that offering discounts to customers has if it means that discounts will increase sales volume units? For example, I am offering customers a 50% discount on tickets that cost $10, and have a yearly sales volume WITHOUT discounts of 1200, Fixed Costs...etc, how do I differentiate the sales revenue made from regular priced tickets ($10) versus discounted tickets ($5)?

    from this, how do I forecast expected increase of sales volume units due to the promotional discounts?

    submitted by /u/GeneralTsoChikn
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    Transferred from TP to audit. Advice?

    Posted: 08 Jul 2018 07:43 PM PDT

    Hi all,

    I just made the move from transfer pricing to audit. I did this for two reasons:

    1) I wanted to move back to my hometown, which does not have transfer pricing

    2) I wanted a broader skill set than I was getting in transfer pricing.

    Moving forward, what should I brace myself for in audit? What types of skills should I look to pickup?

    Realistically, I plan on staying until manager and then making a move over to private, but plans change.

    submitted by /u/Idahomi3
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    Interns at EY

    Posted: 08 Jul 2018 06:50 AM PDT

    Has the entrance qualifications for EY interns dropped to accept anyone?

    I talked to someone last night that was a sophomore, didn't have a declared major, but had a summer internship at EY advisory.

    Back when I was applying for B4 internships about 10 years ago, they wanted juniors or seniors with several advanced accounting courses under the belt.

    The guy I talked to last night didn't even know if he wanted to do accounting, finance or something else. WTF.

    Anyways, I am a CPA MBA with IT experience and he said I would easily get a well paid job at EY. More or less, just apply and I would get the job.

    Thoughts?

    submitted by /u/MNCPA
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    New grads at B4 in Canada vs other countries

    Posted: 08 Jul 2018 06:35 PM PDT

    Hello, I'm in Canada and I see a lot of people here are working at B4 or mid sized public firms. I don't know if it's just my friend circle but it seems like many of my friends here had to go to industry because the competition for public is too crazy. It seems like it's a lot easier to get into one of the B4 in other countries? I'm just really curious. Thanks.

    submitted by /u/coldwater113
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    Hw Help

    Posted: 08 Jul 2018 10:10 PM PDT

    Marksman Pty Ltd has a current ratio of 3:1 and current liabilities of $15000. If Marksman Pty Ltd has $10000 of inventory, what is the quick ratio?

    a. 2.33 to 1

    b. 2.25 to 1

    c. 2.00 to 1

    d. 1.50 to 1

    submitted by /u/ExactEntry8
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    call QuickBooks Support at Toll-Free QuickBooks Support Number 1-877-227-2303

    Posted: 08 Jul 2018 10:04 PM PDT

    Did anyone get a call back for PWC’s Explore program in the Toronto location?

    Posted: 08 Jul 2018 06:04 PM PDT

    Bellingham WA CPA Study Group (xpost from r/Bellingham)

    Posted: 08 Jul 2018 09:47 PM PDT

    I just started studying for FAR, and was wondering if anyone would be interested in forming a CPA exam study group that meets once a week. The idea is to help each other out and create a second level of accountability to keep everyone on track. Would anyone be interested?

    submitted by /u/thcidiot
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    After the special tax rate is applied to qualified dividends, what line is that number put on to get to the tax liability on a 1040?

    Posted: 08 Jul 2018 09:44 PM PDT

    Completely unrelated degree - what should I expect at my new job?

    Posted: 08 Jul 2018 09:20 PM PDT

    Hello! I'll be starting IT audit at a respectable regional (?) firm in California in the near future, and I was wondering what to expect.

    My degree is completely unrelated to accounting, so I'm almost completely unfamiliar with the culture in general (I wore jeans and a purple cardigan to a recruiting mixer once) and what to expect from a more niche job like IT audit.

    If any of you have any insight to share on what kind of behavior is expected of me, how to best meld with the culture, etc, it'd be much appreciated. Thanks!

    submitted by /u/midsizedbear
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    If you only knew gross profit = 20%, why would net profit be even higher?

    Posted: 08 Jul 2018 09:02 PM PDT

    Read somewhere that if gross profit = 20%, net profit must be even higher, I am assuming it is hte margin. But if the company had a lot of D&A, tax cost, wouldn't the margin be lower? or is the net profit margin always higher than gross profit? am confused student

    submitted by /u/NewPhotojournalist7
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    How common is it for a person to graduate with their BBA in Accounting, only to not be able to pass their CPA exams?

    Posted: 08 Jul 2018 10:24 AM PDT

    Sometimes reading these posts here gets me seriously worried about that.

    submitted by /u/FlexasAandM
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    Multiple B4 Internships?

    Posted: 08 Jul 2018 08:57 PM PDT

    Scenario 1:

    If you already have a winter internship with one B4 firm to work in core audit,

    but you want to intern for tax in the summer for a different B4 firm,

    it is okay to apply during the fall semester for the summer internship? The summer internship would take place right after the winter internship.

    Scenario 2:

    The already secured winter internship is to work in only financial services audit and the summer internship would be for core audit.

    How does changing the line of service affect your decision to apply to the summer internship? Of course if you are offered a full time position with the first B4 firm after the winter internship you would have to decline.

    submitted by /u/pocariz
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