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    Accounting When you see a repost but it's an excel sheet

    August 03, 2018

    Accounting When you see a repost but it's an excel sheet

    When you see a repost but it's an excel sheet

    Posted: 03 Aug 2018 06:58 PM PDT

    Students at Meet the Firms deciding which big 4 booth to go to first

    Posted: 03 Aug 2018 06:37 AM PDT

    What I wish I knew in college

    Posted: 03 Aug 2018 08:12 AM PDT

    The below is a very jaded point of view. Take it for what its worth.

    1. Work is pretty much gonna suck everywhere. There is always something shitty to complain about. Find somewhere you can tolerate.
    2. You will come off as silly if you talk about what you want to be in 20 years. CFO, controller, partner, etc.
    3. In all likelihood, you will not be the person that gets promoted to manager in public accounting. You are either not good enough or won't want it because there is no work life balance. Not matter how much they push it the idea of it.
    4. You will work for a lot of people that just aren't good at accounting, managing, or both. They got there because the company needed a warm body and they played politics the best.
    5. If you find yourself with lots of free time in public accounting, it means that your work quality/speed is not good, and people would rather not work with you. If you are promoted to manager, you are number 4.
    6. If you want to work for big companies, go into audit. If you want to work for small companies or start your own firm, go into tax. This is probably the most important decision you can make in college.
    7. Rolling time or underreporting time is commonplace in public accounting. They say they frown on it but really, no one cares. Many will succeed because under reporting time makes the look good.
    8. Take your time to really think about procedures and documentation. Don't rely on people to teach you anything without putting effort in to learn it yourself first. Come to them with a solid question and answer they can confirm or correct. Read the manuals first. If you read a procedure and it doesn't make sense, ask someone to clarify. If you are lucky, they will give you a good answer. If you're not, they will be an asshole about it or spin you in circles and give you a non-answer because they don't know themselves.
    9. Put everything in email. If someone tries to shit on you, you can pull up an email and say this is the way it was. Send summary emails of discussions so you have a record of them as well. People are assholes and will blame the person below them if shit goes wrong.
    10. Relax. Life may not bring you to the CFO suite. You may find out you don't want that. You may find other things that make you happy. At minimum, you will have a shitty job that pays well. Which is way better than a shitty job that doesn't.
    submitted by /u/DeusExSnuffaluffagus
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    KPMG associate avoiding PML on a Friday in August

    Posted: 03 Aug 2018 10:17 AM PDT

    Critical Feedback

    Posted: 03 Aug 2018 08:27 AM PDT

    I found a pretty effective studying method

    Posted: 03 Aug 2018 07:15 AM PDT

    After seeing the Ernst and Whinney luggage tag I felt compelled to present my mouse pad, courtesy of my CPA father.

    Posted: 03 Aug 2018 11:54 AM PDT

    MRW it's Late Friday Afternoon and People Try To Give Me Last Minute Work

    Posted: 03 Aug 2018 10:30 AM PDT

    PwC advancing promotion dates

    Posted: 03 Aug 2018 06:51 PM PDT

    This is a throw away account as this is some what undisclosed info.

    Was informed that PwC will now be offering promotions in January and July for associates and seniors in tax. Not sure if they will also be advancing the raises, but seems like they are trying to compete with the other B4 firms when it comes to 2 vs. 3 years for promotion as an associate. Can anybody else confirm this info?

    Hopefully it is true because I am excited to now have double the promotion day happy hours.

    submitted by /u/insideb4
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    [CAN] Free CFE Case Marking

    Posted: 03 Aug 2018 03:49 PM PDT

    Hey there,

    With the CFE coming up in in a month or so and everyone starting/in the middle of their studying, I figured now is a good time to make this post. I don't know how useful this will be and how much traction this will get but, what I'm offering is a FREE case marking service for Day 3 cases (at the moment, I may change to doing Day 2 cases too but we'll see). I know a lot of you are studying in groups and usually have your study partners marking your cases but if you want a fresh set of eyes and someone who is a little more experienced to mark your cases, that's what I'm here for.

    I'm sure you have some questions which I'll answer below:

    What's my background?: I wrote and passed the CFE in 2017 and I'm about ~6 months of work experience from getting my CPA. I currently work in public accounting as an auditor at a mid-sized firm

    Why am I doing this?: I'm more than likely going to apply to becoming an official marker with CPA Ontario. But, as I'm not actually a designated CPA, I can't do it now. So, I figured I'd get some practice

    Can you send me cases?: Sorry, but I won't be able to send you additional practice cases.

    As for how this will all work, I'm thinking it'll pretty much go like this:

    • You send me the case, your response and the feedback guide. Please also provide the debrief and solution, if possible (will give you a more thorough marking!)

    • I'll mark your response and send it back to you, hopefully within 2 days. The marking will also include some general tips on how to make your responses better (i.e. where to save time, how to layout quants, etc) DISCLAIMER: Depending on how many responses I get and how busy I am, it may take longer. Sorry! Probably should also note that I may be a bit rusty so feel free to give me feedback as well.

    That's pretty much it. Feel free to post below with any questions or if you have any general questions about the CFE, I can try to answer it.

    Also, if you're feeling generous and want to donate, it would be greatly appreciated!

    Cheers!

    submitted by /u/CPACFEMarker
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    Asking for a raise after becoming a CPA?

    Posted: 03 Aug 2018 06:33 PM PDT

    So I'll try to keep this short and to the point. I have 4 years of public accounting experience (2 with my current 100 person midwest firm, and 2 with a 2 person midwest firm before that). The levels of staff for my firm goes Staff level 1, Staff level 2, manager level 1, manager level 2 and partner.

    I'm currently staff level 1 and the requirement for staff level 2 is passing your cpa and 2 years of experience with the firm, however they only promote at year end (which comes with a raise of course). They also tend to only give raises at year end after evaluations. I know I'll get promoted at the end of this year but is it reasonable to ask for a raise in the mean time? I hit my 2 years and I help out between 2 offices and help audit out even though I'm primarily tax and I'm the only one in the firm that does both of those.

    Currently I'm making 60k, if I should ask for a raise how much would be reasonable with the expectation that they'll meet me somewhere in the middle?

    Thanks in advance for any and all advice!

    submitted by /u/that_one_buddy
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    Applied to everything but only tax is responding. Will 1 year in tax pigeonhole myself?

    Posted: 03 Aug 2018 07:36 PM PDT

    As far as I know, I think I will dislike tax. The group work, variety of work, and exit ops of other accounting fields seems much more intriguing. Assuming I get one of these 4 tax jobs I have interviews for, will one or so years of experience be of any use if I try to go a different direction later?

    submitted by /u/0urlasthope
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    CFE 2018

    Posted: 03 Aug 2018 07:18 PM PDT

    Hello All,

    The preparation for CFE is going on and i am trying to learn and improve. I have been doing old capstone cases and it seems like there is way to much to cover. My question to old CFE writers is, Are capstone cases harder than actual CFE? ( Like we had module practice cases harder than real exam cases).

    Please provide your input.

    Thanks

    submitted by /u/steepcurve
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    Which one of these minors would best supplement an Accounting degree?

    Posted: 03 Aug 2018 10:31 PM PDT

    Family of accountant shot dead by U.S. Park Police officers files $25 million lawsuit - The Washington Post

    Posted: 03 Aug 2018 06:17 PM PDT

    PwC Northeast audit to FDD salary increase

    Posted: 03 Aug 2018 06:17 PM PDT

    I've seen a ton of ppl switching from audit to fdd, what is the usual increase in salary? Any signing bonus? What are annual bonuses usually like? From A3 to S1?

    submitted by /u/0022187157
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    Accountant of Trump campaign manager: I was in on talks to falsify loan document

    Posted: 03 Aug 2018 03:41 PM PDT

    [CAN] industry cpa moving to public practice option

    Posted: 03 Aug 2018 07:03 PM PDT

    Hi guys, just wondering what's the best way to earn hours in public practice if you're working full-time in the industry. I'm thinking to apply for part time positions at small CPA firms but I'm just wondering how realistic is that. I don't really care about the wages as long as I earn enough hours to earn public practice license. I heard most small CPA firms do only bookkeeping during nontax season, so they may not be interested in designated CPAs is that true? Btw, quiting my full time industry job to go full time with public practice firms at this time is not feasible for me. If you have a good tip, please let me know. Thx

    submitted by /u/Greencafebean
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    Trouble Understanding Walkthroughs, Observations, and Meetings (senior big 4 IT audit)

    Posted: 03 Aug 2018 04:10 PM PDT

    I'm a new senior in one of the Big 4. Somehow I've managed to get by not understanding a lot. I want to leave for something I understand more, but it's proving harder than I thought it would as I'm in IT Audit.

    So I'm thinking of staying another year. My problem is that I have terrible audio learning skills. When I'm in walkthroughs, observations, and most meetings, I am not joking when I say it all goes in one ear and out the other. I can't understand what these people are talking about. Has anyone else had this problem? How did you solve it?

    submitted by /u/maxxxemom
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    How did you feel walking out of your CPA exams? What was the result?

    Posted: 03 Aug 2018 05:01 PM PDT

    Took FAR a few weeks ago, and I'm preparing to take REG in 1.5 weeks. I studied plenty, yet I felt totally unprepared for FAR, and don't feel much better for REG. What did you feel like after the exam and what did you expect from your scores? Did you pass? I am nervous as fuck to look at my scores already in September.

    submitted by /u/ticks33
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    Couple of career advice questions

    Posted: 03 Aug 2018 08:26 PM PDT

    About me - I'm a staff auditor with a master's degree and just became a licensed CPA in IL (Chicago metro). I have good reason to believe that I'll be promoted to senior by the end of this year.

    First question - what kind of pay raise can I realistically ask for/expect when I get bumped to senior. I am currently only in the mid-50's which I feel is low for my current qualifications and the cost of living in this area. I work for a small firm, about 15 people in the audit side of the business.

    Second question - I currently do governmental accounting. If I become a senior here and stay for a while, how pigeonholed will I be into government? I like my bosses a lot, I have good work-life balance, and I'm not necessarily looking to leave, but I really don't see myself working in government for my career for a variety of reasons. What kind of exit strategies even exist for governmental auditors that don't include working in a municipal finance department?

    TL;DR - what kind of pay bump is typical when being promoted to senior at a smaller firm, and are there any exit strategies for governmental auditors that aren't more governmental accounting?

    submitted by /u/chitown87
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    Ever had an accounting job where you barely even work?

    Posted: 03 Aug 2018 08:31 AM PDT

    Out of an 8-9 hour day I probably spend like 2-3 hours actually working (although sometimes it can get busier) the rest of the time I'm playing on my phone or browsing the web.

    Just curious, if any of you all are in or have been a similar situation at your accounting/corporate jobs.

    Not complaining because I'm getting paid to do nothing, but just wondering if this is common or rare.

    submitted by /u/RadiographicAdult
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    Big firm internship v. full-time position at big regional firm?

    Posted: 03 Aug 2018 03:29 PM PDT

    Hi all!

    Which is better? A winter internship at CLA or a full-time position at a new office for Squar Milner? California based and tax position.

    Thank you!

    submitted by /u/nervouswrecktoall
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    My Big 4 Counselor told me...

    Posted: 03 Aug 2018 04:47 PM PDT

    My big 4 counselor told me that I have potential to do well in this job and he would hate to see me waste that after I told him I am quitting. Do you think I should believe in him?

    submitted by /u/thebluegirlhello
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    Deloitte intern to FT offer percentage?

    Posted: 03 Aug 2018 04:41 PM PDT

    Is it true that it is fairly lower than at the other 3 Big 4 firms?

    submitted by /u/kddspartans
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