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    Home Unlabelled Accounting I've been holding onto this for 7 months with the intention of drinking it once I decided to leave the Big 4. Shout new job, new money, and delicious beer.

    Accounting I've been holding onto this for 7 months with the intention of drinking it once I decided to leave the Big 4. Shout new job, new money, and delicious beer.

    September 25, 2018

    Accounting I've been holding onto this for 7 months with the intention of drinking it once I decided to leave the Big 4. Shout new job, new money, and delicious beer.

    I've been holding onto this for 7 months with the intention of drinking it once I decided to leave the Big 4. Shout new job, new money, and delicious beer.

    Posted: 25 Sep 2018 06:25 PM PDT

    When you show something to a new staff and they are trying to appear engaged.

    Posted: 25 Sep 2018 09:27 AM PDT

    The most shit post for a tuesday.

    Posted: 25 Sep 2018 04:04 PM PDT

    A week ago I posted about passing all 4 parts of the CPA exam and received some PMs asking for advice, so I figured I'd post what I sent them.

    Posted: 25 Sep 2018 06:30 PM PDT

    First off I used Becker for all my exams, because my firm paid for it. I only did MCQs for my last 3 exams. The first exam I took, REG, I watched every lecture and watched and did every Skill Practice and every MCQ until I got it right.

    My second exam AUD, I only had 2 weeks because I wanted to take it before the 2nd quarter ended. So I figured I only had time to do MCQs and just figured if I passed, cool I passed. I mainly wanted to get the experience from taking that exam. When I was studying for AUD I realized I was still learning pretty much the same material as if I was watching the lectures and doing skill practice.

    When I started studying for my third exam, FAR, I started doing lectures again and realized its boring and slow and not that effective, even watching at 1.5x speed. Also I think mnemonics are fucking useless. So I went with MCQs for the whole thing.

    My method for only MCQs was: I went through every single question until I got each one right, and made sure I knew the concept behind each question. I find it useful to read the correct answer's explanation, as well as the other wrong answers' explanations (most of the time).

    When I had completed every module, I would do all 3 Mock Exams, but only the MCQs. I never did the SIMs, I think they are a waste of time when studying, and if you know the material you can do the SIMs on the exam with no problem. After, I would see what sections I needed to work on. I would also read the explanations to every answer for the Mock Exams. I would then go to each section and had a rough idea of what I needed to study more for.

    For each section I would study at a fairly slowly pace at first (enjoying my last summer before working full-time) and then about 2 days before I would ramp up and start cramming and finishing the MCQs for the last few modules of each section. I would go to bed early the night before the exam and then wake up early, review the Mock Exams, as well as any other information that I thought was important.

    Tips for each section:

    REG: Know Basis inside and out, (literally), corporate basis, property basis, partnership basis, etc. Also know AMT, even though I wasn't tested that much on it. I would not skip Business Law, have a fairly good understanding of what Business Law is and know some key sections like Bankruptcy & Contracts. I took a Tax Research class, so I thought knowing how the tax code is layered is useful for the SIMs portion.

    AUD: Know the damn report, both for Issuers and Non Issuers, all parts, all paragraphs. Also, know the differences between Reviews, Compilations, Interim, etc. Also know everything about Risk. Audit Risk, Engagement Risk, Assessing Risk, Responding to Risk, anything Risk. Even know the board game Risk. I work in Audit so a lot of the sections came naturally, so for others, I would say know the processes and steps of an audit.

    FAR: Damn, this exam has a fuckload of material. Definitely where your Intermediate ACG classes come into play. I never took Government and Not-for-Profit so that area was knew to me, so I spend a while studying this area. FAR exam had a lot of MCQs on Government, probably at least 25% for me. Need to know Equity Method, Consolidations, Leases, Income Taxes, Pensions, Impairment testing. Also a section I think is undervalued is Accounting Changes and Error Corrections, I think it's useful to know for SIMs on the CPA.

    BEC: My last one and the one I thought was the most dry. I still remembered most of my Cost Accounting and Economics from my classes in undergrad, but definitely know those. Also, know COSO, COSO, COSO, BEC exam loves to test on COSO. Also, I was surprised by how many IT Governance and Information Security questions I had. In addition, of course know your formulas, they do not give you a resource to look them up so be very familiar. Also for the writing, I read that all you need to do is make sure your spelling & grammar are correct, and to use key words the question asks, as it is computer graded.

    Overall, after each section I wasn't sure when I came out whether I would pass or not. I didn't think it was terribly difficult like some people say, but I've always liked accounting so maybe I'm biased.

    Anyways best of luck to all current and future CPA exam slaves, and feel free to PM me if you have any more questions.

    submitted by /u/papalouie27
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    Make the numbers look better!

    Posted: 25 Sep 2018 06:00 PM PDT

    I decided im not doing anything at work today.

    Posted: 25 Sep 2018 10:36 AM PDT

    Fuck it, its Tuesday.

    submitted by /u/Sneezis
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    Go ahead and and fax it to me while you're at it

    Posted: 25 Sep 2018 11:23 AM PDT

    Hey /u/sneezis

    Posted: 25 Sep 2018 01:01 PM PDT

    Good afternoon /u/sneezis,

    I just got done with a phone interview, AKA having phone sex about my resume and qualifications, with a super fucking lit firm. She told me about the pre-night social before the big interview and said dress casually, which by my translation means to come naked so we can fuck on the copier. She sounded like an accounting 7 which we all know would be a 10 in the marketing department. I'm rock fucking hard right now about the possibility of working until midnight every night for 4 months.

    I'd like to apply for the collab position for Monday hype posts. My qualifications include 3 accounting internships which was mainly bottomless blowjobs while confirming tax payments for rich people.

    Thank you for your consideration. My contact information is thecuntlordof69@anyemailservice.sex if you have any further questions.

    Best,

    The Lord

    submitted by /u/thecuntlordof69
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    Sick of seeing this shit, I wanna be a CPA... not some silicon valley juju computer person.

    Posted: 25 Sep 2018 12:06 PM PDT

    3 weeks and counting

    Posted: 25 Sep 2018 04:22 PM PDT

    kpmg comp discussion 2018

    Posted: 25 Sep 2018 07:31 PM PDT

    Had my year end review with my coach. Got standard senior promotion and positive feedback for shit I didn't even do. Asked what my raise would be and was told the big boss would set up a call within the next 2 weeks to discuss compensation raises.

    Post your level, region, practice, and comp here if you have it.

    submitted by /u/Loud_Accident
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    Received two offers in one day!!

    Posted: 25 Sep 2018 09:46 AM PDT

    Just accepted a full time tax associate position with a local public accounting firm for next fall AND a tax internship that starts during this upcoming busy season with another firm!

    I wanted to say thank you to all of you for your advice and help through this sub. The insight I gained from here truly did help me progress to this point.

    The best part about this is the happiness it brought to my parents who worked tirelessly to provide the best life they could for me.

    I'm sorry but I just had to share this, I've been waiting for a day like this for many years. Experiencing extreme euphoria right now

    submitted by /u/Mossed81
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    I'm worried I'll regret becoming an accountant. Are there accountants out there that genuinely enjoy their jobs?

    Posted: 25 Sep 2018 01:30 PM PDT

    I'm taking my first accounting class this semester and it isn't that bad. It isn't the most exciting stuff but I get it and it doesn't make me want to die like my previous major. Of course, I'm only in Accounting Principles I... I'm worried I'll end up hating accounting or just get so bored I have a mid life crisis.

    Are there accountants out there who like their jobs or am I doomed to wind up living the movie Office Space?

    submitted by /u/UnwantedEyeContact
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    Who has the time to aggregate all these deficiencies?

    Posted: 25 Sep 2018 12:44 PM PDT

    Worth the zoom

    Posted: 25 Sep 2018 09:29 PM PDT

    Is there a big difference between working at a big 4 and a big mid-sized firm like BDO or Grant Thornton?

    Posted: 25 Sep 2018 01:31 PM PDT

    I have so many questions like: What are the opportunities for growth and advancement? Is compensation basically the same?(Seems like it on Glassdoor/Payscale) Does a big 4 give you more options being on a resume over a BDO or GT? Would it be stupid to turn down a big 4 offer in favor of a mid-size company?

    Anyone with experience in either will be greatly appreciated. I know this kind of information can be extremely useful to anyone going through the hiring process. Especially when talking to reps everyone talks up their company (obviously) and it's hard to get a straight answer.

    submitted by /u/Thank_You_Love_You
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    When you receive your raise

    Posted: 25 Sep 2018 05:44 PM PDT

    Will turning down a firm event prevent me from getting the job?

    Posted: 25 Sep 2018 08:21 PM PDT

    I have an interview with an accounting firm tomorrow. Today I was informed of a social event at the firm on Thursday for the interviewees to meet the firm members. I have an exam at the same time as the event. I don't think I can get out of an exam with two days notice, especially since the syllabus only lists medical issues as an acceptable excuse. It's worth a third of my grade, and I'll fail the class if I miss it. Will turning down the event destroy my chances of getting the job?

    submitted by /u/Lefty1992
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    What do you guys/girls think?

    Posted: 25 Sep 2018 10:22 PM PDT

    What are the benefits/problems with taking off a semester for a busy season internship

    Posted: 25 Sep 2018 06:34 PM PDT

    We all knew it.

    Posted: 25 Sep 2018 04:19 PM PDT

    I'm thinking of getting into accounting. Can someone give me a rundown of the business?

    Posted: 25 Sep 2018 07:53 PM PDT

    I'm only 17, graduating this May. What education, training, and mentorship will I need? How much fun do you have on a daily basis? What are your hours? What specifically do you do? Etc..

    submitted by /u/IncognitoNeeto
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    Does big four matter for tax?

    Posted: 25 Sep 2018 05:51 PM PDT

    Hi everyone, I'm in recruiting season for tax associate. I'm struggling like everyone with big four or not big four. My question is for tax people out there, did going big four help your career in the long run? Or is going regional on par for future opportunities?

    submitted by /u/howyoudoingmate
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    Are scratch off lottery tickets considered gambling losses (Taxation)

    Posted: 25 Sep 2018 02:33 PM PDT

    Hello, I was hoping someone might help me understand how I would record scratch off tickets on tax forms.

    The person won $5,000 from the state lottery but has been playing a $10 ticket every week. So his total spent on the tickets for the year is $520.

    What I don't get is:

    Do I just put down $4,480 on a 1040 under other income (Line 21). Or do I put down $5,000 (Line 21 on 1040) under other income and then put $520 on a Schedule A (Line 28) for gambling losses?

    submitted by /u/Tim_Treeblow420
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