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    Accounting accurate

    December 29, 2018

    Accounting accurate

    accurate

    Posted: 29 Dec 2018 05:11 PM PST

    Busy Season is coming.

    Posted: 29 Dec 2018 10:26 AM PST

    When her bio says she can't do taxes

    Posted: 29 Dec 2018 10:11 AM PST

    Tax Evasion (From r/WSB)

    Posted: 29 Dec 2018 03:41 PM PST

    the shutdown is not all bad

    Posted: 29 Dec 2018 08:47 PM PST

    Now I wonder how hot the #smokinghotcpa is.

    Posted: 29 Dec 2018 06:15 PM PST

    Do you like accounting?

    Posted: 29 Dec 2018 02:27 PM PST

    This PwC petroleum accounting book doesn't seem quite right.

    Posted: 29 Dec 2018 11:07 AM PST

    What does a big 4 tax person do every day?

    Posted: 29 Dec 2018 09:50 AM PST

    I always hear tax has less travel and works with tax returns but never hear the knitty gritty of the work and day to day. Im planning on majoring in accounting and am interested in hearing about the daily work in big 4 tax, and how it could transfer into starting a solo tax practice outside of just reputaition.

    submitted by /u/Kobe_AYEEEEE
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    Does the current government shutdown affect public accountants in DC?

    Posted: 29 Dec 2018 05:10 PM PST

    How would you study for AUD in my situation? (Share your Becker AUD strategy)

    Posted: 29 Dec 2018 08:40 PM PST

    I started studying for the CPA exam just a couple days ago since I'm on Winter Break and decided to start with AUD. I'm currently waiting for my NTS that I applied for some time around Thanksgiving and I'm hoping I'll get that pretty soon. I will be graduating June 2019 and starting at a Big 4 in Sept. 2019 so my plan is to sit for two sections before I graduate and tackle the remaining two over the summer before starting full-time (I have met all state requirements to do so). I'm anticipating to sit for AUD towards the end of Jan. or beginning of Feb.

    ​

    I took my university's Auditing class last quarter so a lot of the material is still really familiar to me when going through the Becker material but obviously there are some topics that go more in depth than my college course did. I'm kind of struggling on finding a strategy to study because I feel that I can use my time better instead of watching lectures.

    ​

    My questions:

    1. Would you recommend I just read MCQ and just go from there since most of it is review?
    2. Would you recommend doing the Skills Practice?

    Feel free to share any of your strategies as well! (Ex: Did you read the book first, did you watch lectures first, etc.?)

    submitted by /u/DelayedWorld
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    Holiday Struggle

    Posted: 29 Dec 2018 04:27 PM PST

    Anyone struggling to study for CPA during the holidays right now? Doesn't help that busy season is looming either...

    submitted by /u/Scholartattoo18
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    If you audit a strip club

    Posted: 29 Dec 2018 07:52 AM PST

    are the strippers fix assets? How would you test depreciation? Do you perform a count at the end of year? Are they considered biologicals under IFRS? So many questions....

    submitted by /u/Latinboy714
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    How difficult is it to get a job in government?

    Posted: 29 Dec 2018 07:20 PM PST

    I'm starting a masters in accounting program at a target school, but my goal is to work in government following graduation. I will be living in NY. How difficult is it to get a job working for the government?

    submitted by /u/blueridgemountains12
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    I run the technical accounting and policy group for a F200 company - AMAA!

    Posted: 29 Dec 2018 02:13 PM PST

    I am using a throwaway to keep some level of anonymity. I don't see this type of work talked about much, so I figured it would be fun to provide some insight into a career I love and hopefully get more people interested in this area of accounting. Unlike other 'traditional' accounting roles, my work day has almost no routine to it. Every day is different and exciting.

    If you are not familiar with technical accounting, I like to think of it as being more closely related to a lawyer of accounting than an accountant. Among other things, I provide guidance on company initiatives, interpret contracts, help the company adopt new standards, and set the accounting policy for the organization.

    A little insight into my career path:

    1. Started in Big 4 audit

    2. Left for a company with ambitions to go public which ended up being acquired instead

    3. Jumped to another company that had the same ambitions to go public and succeeded

    4. Landed my current role

    Throughout my career, I've had the opportunity to see many different areas of accounting (corporate accounting, SEC reporting, management reporting, operational accounting, consolidations, external audit, internal audit) with each one having its own unique benefits and drawbacks. However, none of them (maybe which the exception of audit) have been able to keep me engaged like my current role.

    With that said, AMAA

    submitted by /u/CoffeesForCPAs
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    B4 Working from Home

    Posted: 29 Dec 2018 03:30 PM PST

    Curious if anyone in Tax at B4 works from home, and if so, at what frequency?

    submitted by /u/MelrosePatrick
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    Offer Lined up at EY; personal dilemma

    Posted: 29 Dec 2018 07:23 AM PST

    Hi Reddit, hopefully this is a worthy first post. I have an offer lined up in Audit at EY in a large office on the east coast. I will start post-graduation (fall 2019).

    I have run into a dilemma as my fiance got into her top choice Master's program in London and will be attending school there for several years to come. I am curious about officer transfers within the company and if anyone else has found themselves in a similar situation. If so, how did it turn out?

    What is the soonest I can expect to be over there (if ever) and does the fact that it is international make it more difficult?

    -Thanks

    ​

    submitted by /u/par42
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    Need help with CFE study plan for son who has failed twice

    Posted: 29 Dec 2018 08:49 PM PST

    Son and I work together in small public practice office. I am a partner and received my CGA designation years ago, so never had to write the CFE.

    Son has agreed to let me help him with a study plan. He used Densmore study materials this last attempt, which went better then the first time.

    Son is a bookkeeper and personal tax preparer mainly, but is also starting to work on corporate year ends. He also helps other partners with audits (mainly testing).

    On the last CFE, he passed Management Accounting, but failed Financial Reporting and Audit.

    Would welcome thoughts on a solid study plan starting in January (he will write next September). Son has a young family so we need to make use of study time well.

    submitted by /u/MomOfCPAstudent
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    First day nerves, any tips?

    Posted: 29 Dec 2018 08:37 PM PST

    Hi everyone! I am starting my first internship next Monday and I am feeling super anxious about it. I'll be at Transamerica in their regulatory reporting department, and while I'm really excited to take my first official step into the professional world, I am equally as terrified for the same reason.

    Does anyone have any words of advice as I begin my journey? Thanks all! :)

    submitted by /u/gizmo64
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    Help understanding finish good cap variatons

    Posted: 29 Dec 2018 08:23 PM PST

    Hello dear accountants hope you are having an awesome year close or holidays,

    I need help understanding the nature of this account.

    So the name of this account in my job is "Finished good cap Va", apparently is the differences from previous P to current P.

    Now in accounting I know if you want to decrease finished goods inventory you credit x amount in inventory account and debit in cost account x amount...and it decreases right.

    For some reason in this account if you want to decrease you have to debit this account "finished good cap va" and credit cost.

    Makes no sense to me unless it's not actually the finished inventory but an order account for just checking variations....

    ​

    Any comment/advice/knowledge will be appreciated!!!

    ​

    Thanks.

    submitted by /u/Robck27
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    What is more valued in the field: getting a Masters or having a CPA?

    Posted: 29 Dec 2018 07:00 AM PST

    I was wondered what is valued more by employers a masters or CPA? If you have a CPA already is it worth it to go back and get a masters?

    submitted by /u/c3llow
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    How did Enron keep/record their books?

    Posted: 29 Dec 2018 06:03 AM PST

    I've been really curious about the whole Enron thing and was wondering how a billion dollar company was able to hide their huge losses without raising any flags in the accounting department. I understand that they adopted a different accounting basis and sold of unprofitable projects to their own subsidiaries, but what would this actually look like when it comes to the journal entries, their balance sheet, cash flow, etc.?

    submitted by /u/JSeol360
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    MAcc vs 150 credits

    Posted: 29 Dec 2018 03:17 PM PST

    At this point I'm in a limbo as to which route to take. I'm halfway through my junior year as an undergrad and I have a few extra credits. I want to get my CPA, so at this point I have 3 options: 1) Go to school for a 5th year in a MAcc program, getting my masters and reaching the CPA credit req 2) Take a few extra credits over the next few semesters and try to get the credit req by the end of next summer, study for CPA, then get a job, or 3) same as (2) but study and take the exam while working

    I'm flexible enough to where I don't need to start working before I'm done with any of school and tests but I'm kind of over school and ready to make some money honestly. I don't want that to hinder my current career goals. I'll probably start in Public and want to end up with a cushy corporate job.

    TL;DR What's the benefit of a masters in accounting if you also have a CPA? Would it be worth another year of school or nah

    submitted by /u/dewster_freed
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