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    Home Unlabelled Accounting It's always the PITA clients too

    Accounting It's always the PITA clients too

    November 29, 2018

    Accounting It's always the PITA clients too

    It's always the PITA clients too

    Posted: 29 Nov 2018 09:36 AM PST

    I also used Becker...

    Posted: 29 Nov 2018 10:33 AM PST

    Becker isn’t wrong ��

    Posted: 29 Nov 2018 08:43 PM PST

    Ok, which one of you Kool-Aid enthusiasts is this?

    Posted: 29 Nov 2018 06:01 PM PST

    SEC charges Floyd Mayweather, DJ Khaled in ICO promotion

    Posted: 29 Nov 2018 06:01 PM PST

    I don't feel like I fit in

    Posted: 29 Nov 2018 08:42 PM PST

    I'm in public and I genuinely think I do good work. My manager and partner like what I do and I've been given a lot of coaching opportunities with possibility for early promotion to senior.

    That being said I don't feel like I fit in. It's not even like it's the firm or accounting, it kinda just feels like it's me. I get the sense that my work is the only thing keeping people from being completely indifferent about me. I work on a large team and just feel like nobody really cares about me--I feel alone at team events and I don't feel part of conversations and jokes even when I'm there. There's enough different people where I would think that I could vibe with people on an individual basis but because I can't I just feel inadequate.

    Maybe I just need to start seeing a therapist but like is it normal to feel like this? I almost feel like just not coming into work so I don't have to see everybody while I feel this way and have to bottle it the whole time. Anyone feel this way before who can give me any tips? Thanks

    submitted by /u/logitechmouse101
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    This is the office of Edward Burke. He did Trumps tax filings for 12 years. Feds showed up this AM, asked everyone to leave and put brown paper on the doors. Heh.

    Posted: 29 Nov 2018 03:56 PM PST

    Highlighting what could be in FAR....

    Posted: 29 Nov 2018 01:17 PM PST

    CFE Result Will Be Out Tomorrow

    Posted: 29 Nov 2018 05:13 AM PST

    My anxiety is literally through the roof right now. So scared that I will fail! Anyone on the same boat?

    submitted by /u/Whiteshadow_coconut
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    Roger vs Becker vs Wiley

    Posted: 29 Nov 2018 08:09 PM PST

    Hey all, new here and I've been reading past posts so I don't mean to beat a dead horse but I can't really draw a conclusion. I'm fortunate enough to have all three of these paid for by work, pending completion of all exams. So cost isn't an issue. What's the go to material?

    submitted by /u/CopeWint9
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    I work as a financial controller in the construction industry - AMA

    Posted: 29 Nov 2018 02:06 PM PST

    This post is mainly geared toward accounting students, and those looking to leave public accounting or clerk roles. If you want to know anything, big or small, that has to do with public accounting, construction, or the accounting profession in general, ask here.

    Background:

    2 years in tax at a CPA firm

    1 year at a manufacturing company

    2 years at a construction company

    1 year at an AEC company

    submitted by /u/RukiWolf
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    When you’re hitting it the from the back and says “Pass on further work”

    Posted: 29 Nov 2018 08:17 AM PST

    [CAN] CFE Appeal - For those considering it

    Posted: 29 Nov 2018 11:54 AM PST

    You're presumably here, reading my post, because you failed the CFE. Well, welcome to the club-sorta. I know how you feel because i was there. Let me tell you my story, and hopefully I don't ramble on too much.

    I wrote the CFE a year ago (Sep 2017) and right around this time, exactly a year ago results came out and to my utter surprise I had failed the exam. I remember scrolling through the list of names and not seeing mine. I refreshed the page again and again thinking there must be some mistake, maybe they misspelled my name or something. But nope, sure enough an email came shortly after from CPA notifying me that I indeed did fail the CFE. I was distraught, I was angry, and bitter. I felt like a failure and a loser. My wife later reflected that after that it seemed as though a part of me had died. You should know where I was coming from, I graduated in the top of my class, with honours. I challenged the core exams and the electives because I felt the module was a waste of money, the exams were simple and I had all the resources I needed (i was grandfathered into the cpa program, you cant challenge the modules anymore).

    When CFE came around, I took 3 weeks off work, I created a regimented schedule and treated studying like a full time job. I would study from 9am to 7pm monday to friday, saturday was 730am to 1pm and sunday I rested. I kept this up for three weeks. When it was time to write the CFE, Day 1-was interesting, but not earthshattering. Day 2 -was like a hurricane, as there were fringe topics throughout the case that I had not properly studied for. Day 3-I killed it. I remember after day 3 telling my friends that the CFE didnt see me coming!

    Uncommonly, I walked away from the CFE thinking, it was a fair exam. Not super difficult, but not easy. Overall I felt good about my efforts...until the results came back. When I looked at the marking scheme, I had passed everything EXCEPT for the audit portion on Day 2. This was ludicrous to me, I was working at a public accounting firm, I had done many audits, and was 40 hours away from getting the required audit hours for my LPA. In fact days before writing the CFE I was coaching my friend - who had no experience with audits-the audit procedures and processes(RAMP).

    Oh right, my friends. Did i mention that of the 5 guys that wrote with me, everyone passed but me? We studied together, we went to school together, we were(and still are) tight. They were just as shocked as I was that I didn't pass. I had shut everybody out, I deactived my facebook, I virtually disappeared. I didn't want to talk or see anyone.

    About a day after results came out, I was brooding over it all and something inside me told me "NO!" I will not accept these results, I studied too hard, I put all my time and energy into preparing and writing this exam. I gave my everything, I even used up all my vacation days for this. Right then and there I decided to appeal the exam.

    I then began to scower reddit and the internet on the liklihood of an appeal going through. Everything that I found was either "dont do it cause its a waste of money you will never succeed" or "i know so-and-so whose appeal went through". It was all hearsay stuff but no one had actually done the appeal themselves. I talked to my friends about it and they all discouraged me from doing it. But I was bent on appealing, I wasn't going to let anything stand in the way of me passing. I was confident that I had passed the exam, I was confident in my ability that I wrote the right stuff and so a couple days later I paid for the appeal and for months after sat on my hands hoping and praying it would go through. The results looked bleak, and everyone at work and friends were less than hopeful.

    But I'm writing this post to tell you -everyone here on reddit who is reading this right now and who has failed the CFE that there is hope. In Februrary i got a call from CPA notifying me that they overturned the exam, the appeal went through and that I passed! I remember crying after that call. I called up my family to tell them the news. I felt like i had beat the system. A surge of confidence swept through me, and a sense of gratitude for following my gut feeling to appeal.

    Now, I'm not suggesting to you all that you should appeal. Give careful thought, see where you went wrong. I had failed just the audit part, one part in the whole exam so perhaps it was easier to win the appeal. Its very stressful to have to wait in silence hoping that the appeal goes through. There is little incentive for CPA to pass you when you appeal, you paid them, they have your money, "thank you very much - fail!". The fact that my appeal was successful makes me question the integrity and competency of the CPA exam markers. But if you think of all the thousands of exams they mark, they are bound to goof up somewhere. It would be foolish to think that when they mark your exam they are functioning at peak performance. When I got my results I kept it quiet, not telling any of my friends and instead I surprised them at convocation. It was wonderful and they were very excited. They even suggested that I make a case to sue CPA for psycological damages -stress, heartache, fatigue, depression. But i haven't.

    I'm sorry this is long, but I want you to know the whole story. If you have made it to the end of my post then great job! But i want to tell you all that I personally have had success in appealing. Its not just some ambiguous, vague concept floating out there in the sky. Appealing does work and if you were confident in your ability and your efforts during the exam then go for it, follow your gut feeling and appeal!

    submitted by /u/SparrowX9
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    My PIP Journey

    Posted: 29 Nov 2018 08:48 PM PST

    I posted on here a while ago about receiving a bad review on a big 4 job(check posts for back story). Long story short, I found out last week I was going to be placed on a PIP plan. Am I surprised? Not at all.

    I know this is probably the beginning of the end for me at this firm and that is ok. If I get bounced, then so be it. But I plan on attacking this PIP with a sort of intensity that these people have never seen before. I have been made to feel so goddamn small at this firm, and told by people that I really don't have what it takes to make it here. I've been tested more at this firm than anything I've ever been through in my life.

    For the record, I think the PIP plan is bullshit. I was placed on a bad client(office-wide known as a terrible client) and received a hit piece review from my manager, that I really thought was untrue. I've been at the firm for less than a year. That's it. I was kind of shocked a negative review put this into play, but it also opened my eyes that no one really cares about you at these firms. They give a fuck about your work. And if my work wasn't up to par, then God dammit I'll get it there.

    I'm already covering my ass in terms of getting another job. I've been in contact with recruiters from other firms about employment opportunities and I feel pretty good about whatever happens after this PIP.

    I will not let this job define who I am as a person. I've gotten a shit hand at this firm, but things can always turn around. I'm on a new, better client that I really like, and with a senior that actually wants to coach me. So maybe this is when this shit starts to turn around.

    Regardless, I'm gonna ride this thing out and crush audit workpapers daily, because that's what the fuck I do. And if it doesn't work out for me, then I know I gave it my all and that's all you can really do. And in the end, if this pushes me out of a big 4 job faster than I want to, then so be it. Maybe that will be a good thing? Who knows man. Stay tuned, I'm sure I'll be back with updates at some point.

    submitted by /u/accountingthrowking
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    On the heels of 2016's Wells Fargo scandal, another KPMG audited bank under fire

    Posted: 29 Nov 2018 06:26 AM PST

    I MADE IT!

    Posted: 29 Nov 2018 12:31 PM PST

    Today I officially accepted my offer with EY! I'm excited beyond words! I'm in full-blown Kool Aid mode.

    I wanted to thank you guys for being part of this wonderful subreddit. Without your guidance, I'm not sure I would have made it this far. It has been a tough year and a difficult recruiting season, but every step of the way this subreddit has motivated me to keep moving forward.

    I want to give back to the community, so I'll try to help out as much as possible those who have questions about classes and the recruiting process.

    ** * Special shout out to Sneezis for keeping us turnt up when we most need it.

    EDIT - I forgot to mention that I got a full-time offer without doing an internship.

    submitted by /u/_TheAccountant
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    Thought this would be relevant

    Posted: 29 Nov 2018 06:44 AM PST

    My ACCT professor is strongly urging me to get an MBA in Accountancy.

    Posted: 29 Nov 2018 07:31 PM PST

    Background: I'm a 19 year old MIS major who got a jumpstart on some credit that puts me ~30 credit hours ahead of schedule. MIS is Management Information Systems (think /r/sysadmin mixed with CS).

    Accounting 2101 and 2102 are the washout courses for the business college at my university. I aced acct and actually enjoyed the content.

    There is a program at my university that allows students to complete graduate courses during undergrad and effectively complete an MBA and BBA in 4-5 years.

    With my advance on credit hours I could complete both within the 4 year span.

    One of my professors is highly recommending the dual major based on my performance on exams. He/she suggests that employers are looking for people with this focus.

    What are your opinions on this matter? Does this seem like a good idea or is there something big I'm missing?

    submitted by /u/asimplesloth
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    SEC to explore Trump's request to to switch from quarterly earnings reports to a semiannual system.

    Posted: 29 Nov 2018 03:22 PM PST

    White Elephant Gifts

    Posted: 29 Nov 2018 10:50 AM PST

    My firm is having a white elephant party. Gifts are to be around $15 to $25. Anyone have ideas for a good gift?

    submitted by /u/cpashei
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    Any veterans in this subreddit that are working accountants? I see a lot of posts about being overworked and being depressed on here. How does your quality of life compare to your time in the military? Has it prepared you to handle things better than your peers or are they two different worlds?

    Posted: 29 Nov 2018 12:55 PM PST

    Why did you get into accounting.

    Posted: 29 Nov 2018 07:20 PM PST

    Was it just a way to get a job that pays well. Do you enjoy the work? What are the benefits of accounting and what are the negatives? What makes someone choose accounting as their career?

    submitted by /u/ChidoriDismissed
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    Fraud Question

    Posted: 29 Nov 2018 06:52 PM PST

    Hey guys! I'm not quite sure where to ask this, so here it goes. I work in the business office at a public institution, but have noticed some funny things with our finances. I'm going to try and be as vague as possible, because our institution is extremely unique and highly identifiable.

    For example, we rent our portions if our properties that are unsuitable for our own use. These individuals often pay in cash.

    We have a woman who is in charge of accounts payable and cutting checks. Often times she will notice that our boss dates checks in the future. For example, he has dated utility checks due on 4/15 for 5/1.

    I have been working here for about a year. Today, a contractor who has worked on and off for us for about 10 years mentioned that he has never received a 1099 from us. I know we have used him for jobs over $600, and that he is a sole proprietor doing business only with a DBA. According to QuickBooks, he hasn't been paid through QuickBooks in a couple of years. Several other contractors do not appear in QuickBooks for about a year. It would seem they are being paid out of another account, not associated with our accounts payable. While it's extremely likely that there are other accounts, the fact that contractor has not been 1099ed multiple years seems extremely fishy to me.

    There are also some instances of nepotism, and these individuals being paid in different ways than their equal counterparts.

    We are required by law to have an independent audit done annually. I'm by no means an accountant, but some of these things seem fishy, like they could be fraud.

    submitted by /u/twobuckquickchuck
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    What kind of ratios are used to evaluate the performance of banks?

    Posted: 29 Nov 2018 09:48 PM PST

    hi. I'm a business(finance) major undergrad.

    I was looking up something about banks (both commercial and investment banking) regarding job application, and the above question sprung to mind.

    What kind of accounting ratios are used to evaluate the performance of banks? Like for companies, there are some common ratios such as liquidity ratios and asset ratios but wonder what sort of metrics are used for both commercial banks and investment banks, not companies.

    submitted by /u/reload-John
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