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    Accounting Me after passing Intro Accounting I

    November 20, 2018

    Accounting Me after passing Intro Accounting I

    Me after passing Intro Accounting I

    Posted: 20 Nov 2018 03:19 PM PST

    Seemed fitting to put here

    Posted: 20 Nov 2018 05:38 PM PST

    I hate when SM’s forget how long it takes to actually do things

    Posted: 20 Nov 2018 10:04 AM PST

    When you're swamped with work but Thanksgiving is around the corner

    Posted: 20 Nov 2018 07:43 AM PST

    Well it’s official boys... my firm has blocked reddit.

    Posted: 20 Nov 2018 04:52 PM PST

    feels bad man :(

    Now I gotta visibly be on my phone to go on reddit.

    submitted by /u/Bizarrmenian
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    TIL: Over 5000 years ago, the first person ever named in writing was an accountant.

    Posted: 20 Nov 2018 06:27 PM PST

    Daddy?

    Posted: 20 Nov 2018 06:35 PM PST

    What I always hear

    Posted: 19 Nov 2018 11:19 PM PST

    My "Caffeine Drawer" at work for when things get busy and I'm here late. Each coffee shot has 40mg of caffeine (you can buy 200 for like $25).

    Posted: 20 Nov 2018 10:17 AM PST

    Does anybody else here get irrationally upset when...

    Posted: 20 Nov 2018 09:13 AM PST

    ...people on car insurance commercials don't understand the concept of depreciation?

    submitted by /u/LIFOsuction44
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    Cannabis companies are paying federal taxes in cash and it’s giving the IRS a headache

    Posted: 20 Nov 2018 12:54 PM PST

    Starting as a Tax Staff at a smaller firm in a few weeks. What should I do to prepare?

    Posted: 20 Nov 2018 04:04 PM PST

    Will be working in Orlando. Not sure about client base, will be reaching out to my new boss next week to ask this very same question. Im in a Personal tax class in my last semester right now and had corporate about a year ago. I wouldn't consider myself where I need to be to start working. Should i start studying Reg to kill two birds? I was leaning Reg last since I'll be doing tax work and should be strong on reg concepts. Was thinking far aud Bec reg. Ive seen lots of advice to just enjoy my time off, then fake it till I make it but I'd really like to make my new firm proud right off the bat. Any advice would be appreciated. This sub has meant a lot to me, from helping me decide to choose accounting as a non traditional to providing hellacious memes. Can't wait to finally join the ranks!

    submitted by /u/subutaime
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    Currently have an offer for a mid-size coop, but am still interviewing at B4. Should I accept the offer, or keep trying at B4?

    Posted: 20 Nov 2018 05:08 PM PST

    My ultimate goal is to work at Big 4 after graduation. I have currently accepted a coop offer at a mid-size firm, but have not signed any contracts.

    At the same time, I am currently interviewing at a B4 firm, but I don't have a coop offer yet.

    What should I do? Is it a good idea to sign a contract with the mid-size, and then recind my offer in a few weeks if I get a B4 offer?

    EDIT: I have to give an answer to the mid-size firm in a couple days.

    submitted by /u/godstriker8
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    CIA exam part 3 - accounting questions HELP

    Posted: 20 Nov 2018 07:54 PM PST

    I am taking my Certified internal auditor (CIA) part 3 exam in 2 weeks and I am screwed for the accounting questions... The rubric states it is worth 15-20% of the test and in the gleim textbook has approx 100 pages of content. I have been an internal auditor for 3 years but I have zero experience with accounting related auditing. The IIA says you do not need to have a CPA to become a CIA (ha! Sure doesn't seem like it)

    If anyone could provide a ballpark estimate as to how many questions actually cover accounting? I am almost thinking I should just wing those parts....

    I am developing an eye twitch from stress!

    Thank you in advance!

    submitted by /u/archibauldis99
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    teaching accounting in HS

    Posted: 20 Nov 2018 01:49 PM PST

    What would some of you say are the pros and cons of accounting education/financial literacy in high school? I just don't see it being taught/required nearly as much as I believe it should be, and am curious as to what others might think??

    submitted by /u/tkgehrig
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    The Power of the CPA - Even for an IT Auditor (26k promotion)

    Posted: 20 Nov 2018 10:08 AM PST

    I wanted to post today and provide some encouragement to people currently struggling with the CPA right now.

    Background: I graduated in May 2017 with my undergrad in accounting and a masters in mis (5 year program). I started at a consulting firm doing IT Audit in the DFW Texas area in Fall 2017 (think fti consulting or protiviti). By March 2018 I wrapped up my CPA exams, and got fully licensed in October 2018.

    I started in 2017 at 60k, got a small bump in 2018 to 63k, and just received a job offer for 89k, a 26k raise. More than that, it's in the north east in a city my wife and I want to move to, and is a promotion as I'll be coming in as a new senior (I'm still currently a associate/staff/consultant 2).

    This was possible thanks to the CPA. The CPA got the attention of recruiters, who connected me to people who want IT auditors with a CPA (one of the larger middle market accounting firms, think BDO or RSM).

    If you're currently going through the exams, or are considering whether its worth it, I can say that for me personally it has already paid off. It is not for everyone - everyone's situations are unique, but it was certainly worth the 15 months of hell for me.

    If you're stuck in the middle of studying for FAR right now, I hope this is encouraging!

    submitted by /u/ender411
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    Anti-money Laundering Compliance to Forensic Accounting

    Posted: 20 Nov 2018 07:14 PM PST

    Hi Guys,

    I am thinking about going back to school to become a forensic accountant. I am currently an anti-money laundering compliance analyst for a global financial institution. Prior to this job I worked for a federal financial regulator and a private investigations firm.

    I don't' have any accounting background at all. I have a master's and a bachelor degree in political science. I understand that in order to break into the forensic accounting world I will first need to take an accounting certificate course, get my CPA and some actual accounting experience. But I worry that because I have taken a non-traditional path I will ultimately end up in the same place I have started because firms won't want someone without a traditional accounting background.

    Now I have a few questions:

    Will my experience in AML compliance be viewed as an asset for forensic accounting firms?

    My goal is to go straight into forensic accounting after I become CPA eligible, how likely do you guys think that is considering my lack experience in general accounting or audit?

    Is it worth trying to get an entry level accounting job while I take online courses to become CPA eligible or can my experience in AML be viewed as accounting experience in order to qualify for the CPA?

    Thanks for your help, I have spent hours combing this board and there is so much valuable information I have uncovered!

    ​

    submitted by /u/mango_jade
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    Is the MAcc worth it in Canada?

    Posted: 20 Nov 2018 04:28 PM PST

    I've seen a lot of posts about the MAcc but in the US because it helps with credit hours.

    Can I get some input on why or why not to pursue a MAcc in Canada.

    Thank you so much!

    submitted by /u/Boxingislifeee
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    Does anyone NOT want to get promoted?

    Posted: 20 Nov 2018 11:00 AM PST

    Am I the only one who feels way? Ive been working as a staff accountant hired right out university. My starting salary was 50k and my raises each year have been keeping up with inflation (~2-3%). I'm single, no kids, and live in an outer borough of NYC, my rent being 800/mo. With this I'm still able to put in my IRA and have enough spending money for my ~WiLd PaRtY yEaRs~

    My question is this, is anybody like me and content with their role, and doesn't want the stress of more work? I'm responsible mainly for entering AR, AP, and prepaids, and I help with the closings at the end of each month. I've been working for a few years now so I'm pretty comfortable knowing what my day in and day out looks like and that it probably won't change drastically in the foreseeable future. I don't have my cpa either, and I haven't taken the steps to start studying.

    I'm happy in my role and while I'm still stressed sometimes, for the most part it's manageable. I look at my senior accountant and she is constantly stressed and her best day still looks miserable to my worst. I know that things in my life can change and you know never know when you'll need money but I really have no desire to move into a senior position. And I would presumably add a second income to my situation if I were to meet a spouse. Not only do I think the work would stress me out but I really think it would take a unnecessary toll on my mental health. I'm having a tough enough time as is and a lot of my work is something that could be done by an accounting clerk.

    So are there any other "career" staff accountants here? Is there anything wrong with my thought process given that I'm happy with my position? I don't think the senior accountant is planning to leave anytime soon but if she were to, I wouldn't think twice in forgoing a promotion to senior and staying in my role.

    Though another thought is that this forum probably caters to those that are more motivated and passed the CPA - that is, accounting clerks are less likely to post to an accounting message board.

    submitted by /u/danistheman131313
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    Those that post on social media regarding their interview (aka "pray for me" or "wish me luck") wit out knowing if you got the job or not....why do you do it?

    Posted: 20 Nov 2018 11:20 AM PST

    Reason I ask is because you put yourself in the position having people asking you why didn't get the job or what happened etc.

    This question popped up in my head when I recently saw someone that I knew post on Linkedin regarding an interview he just had. The gentleman took a picture of the room he was in with the interview materials and tagged the company and the interviewers (by name) and thanked them for the experience.

    ​

    submitted by /u/njnetsfan15
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    Salary negotiations

    Posted: 20 Nov 2018 07:39 PM PST

    Hey guys, what do you think an entry level staff accountant should make in the NY/LI area? 55k-60k is my range. Not sure how i should approach this company with requirements. Thanks for any advice.

    submitted by /u/FinanceandBottles
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    Why are accountants in such high demand compared to other fields?

    Posted: 20 Nov 2018 06:52 AM PST

    I'm not trying to make a self-congratulatory post about my job prospects, I'm genuinely curious about this. I did my two years at a large public firm, no CPA, made senior title and then started to look for jobs in industry living in NYC. Within a week, I was able to secure multiple job offers with a competitive salary.

    I'm wondering what about the field lends itself to this.. I understand that I had a public background, but even those jobs are hiring well on college campuses. I have friends who studied econ, marketing, history, etc. who are 3 years removed from college like me and are either unemployed or underemployed. And they would talk about how they would be fighting 50+ applications for marketing and PR jobs. That they could call a recruiter and have a job in their field lined up seemed unattainable to them.

    I don't see the argument that accounting is self-selective like computer science and engineering due to the difficulty of the material. I find it hard to believe that someone capable of completing a degree in another field wouldn't be able to cut it in accounting. Is it just because the material is too boring that people don't want to do it? Is it because many people capable of doing accounting decide to study STEM field or finance to make more money? When I recommend to my friends to go back to school to get an accounting degree they didn't seem particularly excited about the idea. Looking to hear your thoughts, thanks.

    submitted by /u/Financial_Reach
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    GMAT vs Accounting study?

    Posted: 20 Nov 2018 02:25 PM PST

    So in spring I'll begin preparing to take summer gmat for 2 target masters acc programs.

    My accounting is a little shaky from financial and managerial. I'm currently in int 1.

    Spring I take int 2.

    Should I focus on gmat or review earlier accounting material n forget about gmat cause I can apply to other schools?

    I have free time until summer.

    Weird question but plz advise...

    Applying for master's Fall 2019

    submitted by /u/life180degrees
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    Do higher profile clients and bigger teams have better auditors?

    Posted: 20 Nov 2018 07:02 PM PST

    I have noticed the general stereotype is that if you're on a higher profile client, other coworkers generally perceive you as a more capable coworker or rated higher. In your guys' experience, is this stereotype true?

    submitted by /u/dalimbs
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