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    Thursday, December 27, 2018

    Accounting Life after CPA Exams

    Accounting Life after CPA Exams


    Life after CPA Exams

    Posted: 27 Dec 2018 04:52 PM PST

    Got a haircut

    Ate a box of Pizza

    Currently Watching Godfather part I & II

    Very exciting stuff people.

    submitted by /u/BigFordAudit
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    What's wrong with some people? Do they think wages haven't changed since 1980?

    Posted: 27 Dec 2018 01:56 PM PST

    MFW I see default subs talk about taxes or anything to do with accounting

    Posted: 27 Dec 2018 02:45 PM PST

    Newly redesigned 2018 1040 vs 1913 1040

    Posted: 27 Dec 2018 08:17 AM PST

    As the IRS just finalized and released the newly redesigned IRS Form 1040 for individual taxpayers, I thought it would be interesting to see what the first one looked like.
    That's when I stumbled upon the Form 1040 used in the first year after ratification of the 16th amendment imposing income taxes in 1913.

    I guess things come full circle if you don't include the tens of thousands of pages of IRC, IRS regs, and tax court cases behind the current day income tax.

    On a side note, TaxHistory.org is a very cool site if you have some time to kill (perfect for this week in the office). Things like old 1040 forms and Presidential / Candidate tax returns are posted on the site. Cool to see the evolution of taxes over the years and how different individuals earn their money. Puts them in different perspectives than before I knew they made more or less or the source. Btw Mitt Romney makes stupid money.

    submitted by /u/NikeSwish
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    Thoughts on emailing small/local CPA firms for internship opportunities?

    Posted: 27 Dec 2018 06:20 PM PST

    Beta Alpha Psi

    Posted: 27 Dec 2018 12:14 PM PST

    This kid can ace accounting homework so accounting must be easy(he is in hs)

    Posted: 27 Dec 2018 06:28 PM PST

    Post Malone is One of Us

    Posted: 27 Dec 2018 04:36 PM PST

    IRS mass hiring

    Posted: 27 Dec 2018 04:08 PM PST

    So, has anyone heard anything back about interviews for the IRS mass hiring? I would have thought that phone calls for interviews should start rolling out soon! My fingers are crossed I get a phone call.

    submitted by /u/JasperStinchComb
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    Is professional accounting really as bad as this sub makes it out to be?

    Posted: 27 Dec 2018 10:59 AM PST

    I just finished my first semester at college and reading this sub is making me second guess everything. I thoroughly enjoyed the semester and the course material, but I am worried about these awful work environments people mention.

    submitted by /u/Arizoto
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    Making The Most Of A Second Chance

    Posted: 27 Dec 2018 02:48 PM PST

    My final semester in my graduate year (2015) culminated in getting an audit offer from 4 firms (including Grant Thornton). I ended up selecting a smaller firm in a smaller Texas city due to the lower cost of living and the quieter lifestyle that my wife and I could have there. After 16 months with the firm, I was released due to "not performing/developing to their standards".

    Regardless of the specific circumstances that led to my dismissal, I struggled for 20 months to find a new permanent opportunity. I even went as far as San Francisco for an internship with the hope of securing a permanent opportunity, but failed to make it happen. Thankfully, I have finally ended this search by securing an offer from Grant Thornton once more to join their firm (which I accepted very quickly).

    I feel that I have received a second chance that I cannot and will not squander. I know that I will need to extremely diligent to avoid the same mistakes I made that led to my dismissal those nearly two years ago. Is there anyone in this sub who has experienced a similar story who can provide their feedback and/or guidance on what I can do to stay strong and prosperous with this new opportunity? As I said, I CANNOT allow to let what happened to me with the smaller firm EVER happen again.

    submitted by /u/hiddentruths17
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    Just came back from an Interview

    Posted: 27 Dec 2018 07:35 PM PST

    I interviewed at a small local CPA firm for a Staff Accountant (Tax/Audit) that I found through Indeed. Submitted application 2 weeks ago, already had a phone screen last week and had an interview with the firm partner. I did not have to fill out any sort of application and have not asked for any references so far, which strike me as weird. The partner was more on the shyer side and felt awkward during the interview at times, but laughed and joked with me at some points too, kind of a mixed bag. It really threw me off but felt like I had a good interview.

    Is this a norm for smaller CPA firms? The partner said tomorrow they would make a decision, but would references come up during the process?

    submitted by /u/Zeta909
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    CFO position 40+ hours a week. Is this a joke or real life?

    Posted: 27 Dec 2018 09:26 PM PST

    Reciprocity of CPA from U.S. to Ontario (Toronto)

    Posted: 27 Dec 2018 09:06 PM PST

    What does a person need to do in order to be a practicing CPA in Ontario, after moving from the U.S(I would already be a CPA here)?

    Do I need to take any extra exams? Or can i just ask the regulatory boards over there to reciprocate and do a few online courses related to canadian REG and law

    submitted by /u/johnpenguin69
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    What are some useful or useless things I need to buy before starting in public accounting?

    Posted: 27 Dec 2018 08:42 PM PST

    Links or brand names please!

    submitted by /u/gnitnuoccA
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    Can you live a luxurious life as a CPA?

    Posted: 27 Dec 2018 06:58 AM PST

    I've finally decided that I want to take the accounting route and become a CPA. I tried doing CS but didn't really enjoy the material, however, I enjoy accounting so far.

    I really want to live a luxurious life style when I'm older - nice house or condo and a nice car. A goal of mine is to move to NY and live there, but I don't mind staying where I am in California if the money is even better.

    Would this be possible as a CPA? Of course I would do additional things on the side, such as real estate and investments.

    submitted by /u/FutureCPA7
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    What do jobs look like for people leaving big 4 audit over the course of obtaining various titles?

    Posted: 27 Dec 2018 08:03 PM PST

    I have recently been accepted into a quality state school and am a direct admit to accounting (Uw madison), and Im interested in putting together an early plan for my career. Id like to go big 4 and get that out of the way, end goal is an industry position in the 120-200k range. Im a hard worker, relatively smart, can stand tedious work, and find accounting reasonably interesting so I think I have the chops to get into big 4 and do well there. Im just wondering what specific jobs there are for those who leave after 18 months, after becoming a senior for a year, manager for a year, etc.

    submitted by /u/Kobe_AYEEEEE
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    Busy Season Care Package for SO

    Posted: 27 Dec 2018 08:02 PM PST

    Hey guys,

    I wanted to get a busy season package for my SO (female), and wanted some ideas from the girls in here for what you'd like to receive in your care package. (Don't suggest black tar heroine I've already got that covered.)

    She's gonna be out of town at a client for about a month and a half.

    I'm also in public accounting but I'm a dude and terrible at thinking about what chicks might want to get through busy season.

    If y'all have any ideas send 'em my way!

    submitted by /u/wannabecpa93
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    Accountant who doesn’t know Excel?

    Posted: 27 Dec 2018 08:29 AM PST

    Edit: thanks to all of you who took the time to comment. Very much appreciated and I'm glad I asked.

    Question from a non accountant. I recently started work at a small company. An individual I work for claims to have 10-20 years experience as an accountant and consulting from an accounting perspective. This person also has only a rudimentary ability to make data into anything meaningful in excel, as in, can't create/use a pivot table, knowledge of formulas is at the SUM level, etc.

    Are there accounting fields that don't require excel experience/knowledge? I had always assumed that there was no way you could work in accounting without a pretty decent understanding of excel so was I just wrong or is this person BS'ing about their background? There are other red flags I'm seeing as well but wanted to confirm whether this one is just imagined on my part.

    Thanks in advance.

    submitted by /u/jls63
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    Anyone have experience setting up and running a side hustle?

    Posted: 27 Dec 2018 06:34 PM PST

    Not talking about hustles involving things like Uber, Lyft, or AirBnB. I'm curious about what you did to set up your company, how you presented the "outside business activity" to your primary employer (w/reaction), and what have you done or normally do to protect yourself from liability.

    submitted by /u/DaddyVersionOne
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    What jobs should I be looking for while in college to give me translatable skills for when I'm job hunting after graduation (in accounting).

    Posted: 27 Dec 2018 06:16 PM PST

    I've seen this pop up a few times but my situation is a bit different. I'm in my early 30's, spent 10 years in the military, 4 years working high labor jobs (radio tower climber), and decided to take that sweet free college and pursue a masters in accounting. My academics are fine, I'm 1 year in (have had acct I + II) and have done some secondary stuff like bookkeeping certs (haven't take the final test but I've done the mail in ones). My question is what should I be looking for to get some experience since all my work history is blue collar. Is it realistic to apply for places in payables/receivables? Should I be hitting up something like H&R block? Assume I have a couple brain cells to rub together, what kind of job should I be aiming for that will best help me when I start applying for positions when I'm finished school?

    submitted by /u/Jarada11B
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    Looking for some advice from CPAs in Canada. I'm in my third year of my degree. I want to do my PEP after this but wondering if a graduate program would be better. I don't plan on working while I do the PEP. Has anyone been through this route? Pros/cons? Any advice is appreciated. Thanks in advance.

    Posted: 27 Dec 2018 01:16 PM PST

    War story, my adventures as an accounts payable clerk.

    Posted: 27 Dec 2018 06:09 PM PST

    I had done sufficiently well as a billing clerk, had been cranking out a primitive spreadsheet for the CFO and made him aware that I had an accounting degree. The accounts payable office was at the back of our billing office, great people and one of them was retiring. 2 positions in that office were being eliminated and was to be completely run by two clerks. What could go wrong? If this was anything like the practice set in my first semester of accounting, I guess I could handle anything. The first cycle of payables went well. It takes a file box of vouchers to pay the bills for one month. Things changed real quick. I had some incomplete vouchers at the second cycle and could not break the other clerk free, and they got paid late. I figured this can happen, and at the end of this cycle, I would have a better handle on the job. Finding a missing document could be murder, as that was a phone call, they had to pull it, make a copy and use interoffice mail. We were near the end of the second cycle, and I could find no supporting document for an invoice for 75,000 in consulting fees, and they called the CFO immediately. I was building a stack of unresolved issues, and working as fast as I could. The other clerk was a pro, but spent 80 percent of her time on cycle bills from three vendors that sold medical/surgical supplies. These are the materials of war, and they are itemized to the last box of band aids. The guys in receiving work like slaves, and they're great. They do catch an incident where what was ordered was not what was shipped. I match that with a purchase order, and have to cut a check, never knowing what the partial payment should be, as these errors have occurred every month since we had them as a vendor. We made partial payment at the end of the first cycle, and they squawked. We had two sales reps in two months visit us and assured us that it would get figured out. Further, it was time for the annual audit and a couple of young bucks from KPMG walked in, said we had too many invoices and told the CFO. We got a call for that one. I got called into his office, and was put on a 30 day performance improvement program. The last cycle was complete in 30 days. I anticipated termination, took their money for a month, and faxed my resignation on the last day. I rode the shuttle bus to the offsite parking lot with my head hung low. I was surrounded by people in scrubs talking about their shift. Gales of laughter. I immediately signed up for a nurse assistant course, and loved it. The clerk I left behind lasted a month with all the vouchers to herself and she walked. She became the secretary for housekeeping and was happy. I played my part in this one. Sometimes, it's just not the right job. Thanks for reading.

    submitted by /u/system0540
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    150 Credit Hour Question

    Posted: 27 Dec 2018 03:19 PM PST

    Hi guys,

    I graduated with a degree in Accounting (NJ school) with 146 credit hours. I'm planning on passing my last part of the CPA next month, but I'm looking for the quickest/cheapest/most efficient way to get these final 4 credits. Anyone have any suggestions? All feedback is appreciated!

    submitted by /u/DoRabbitsHaveSouls
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