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    Friday, December 7, 2018

    Accounting Waiting for emails from clients...

    Accounting Waiting for emails from clients...


    Waiting for emails from clients...

    Posted: 07 Dec 2018 09:55 AM PST

    When the client hands you their PBC

    Posted: 07 Dec 2018 02:26 PM PST

    Finally got an industry job after ten years of public, AMA.

    Posted: 07 Dec 2018 03:01 PM PST

    I was an experienced manager in public working in advisory services. I finally made the jump to an industry role as an internal consultant and I don't work more than 40 hours a week for 6 figures.

    There is life on the outside.

    submitted by /u/HexBasedReality
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    Partner vs Director

    Posted: 07 Dec 2018 09:51 AM PST

    What are the main differences between partners and directors at firms?

    Specifically, differences in duties, salaries, experience needed to reach that level, work-life balance etc.

    submitted by /u/zz_ta6283
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    Has anyone here ever had an internship with Starbucks?

    Posted: 07 Dec 2018 04:40 PM PST

    I applied for their summer internship, and I just want to know what the process is like.

    submitted by /u/bubumaelou
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    Do you regret becoming an accountant?

    Posted: 07 Dec 2018 11:49 AM PST

    Hello i'm currently a senior in high school and what i've planned on being the last two years is a CPA. Anyone in the field currently regretting it? If so, why ?

    submitted by /u/lover-of-babies
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    How necessary are internships and should I quit my job for one?

    Posted: 07 Dec 2018 01:26 PM PST

    I currently work full time with benefits doing manufacturing making $16/hr. I was offered an internship at a CPA firm local to my city, but it may only be two days a week, possibly more depending on another candidate. I would have to pick up another part time retail job probably, and pay for health insurance from school ($150ish) instead of the 25 I pay per month now. I would also lose complete tuition reimbursement (about 14k per year). I also would have no guarantee of my job still being there when I was done with the internship. Is experience in accounting worth giving up most of my livelyhood and probably living borderline poverty for the next year?

    submitted by /u/Spritesgud
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    Just took REG, AMA

    Posted: 07 Dec 2018 01:24 PM PST

    After taking FAR a few weeks ago, I can honestly say that overall REG was much harder.

    I got absolutely hammered on the MCQ, a lot of IRS law crap I wasn't expecting and very few contracts/business law. The sims on the other hand were easier than FAR but I still had no clue.. I feel like I messed up on rules that I knew and second guessed myself :(

    Good luck to those taking it this weekend.

    submitted by /u/Double007Seven
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    Accounting Project for Business school

    Posted: 07 Dec 2018 09:49 PM PST

    Accounting Project for Business school

    I have a final assignment due for my managerial accounting class due Monday 12/10. I'm lost in the class (i don't plan to pursue accounting just apart of the business school core) and need help on this project. I'm willing to pay someone to help me out. I have some of the answers and the template to submit the work, I just need help with getting the correct numbers and really need someone with expertise. Please PM me if you feel confident you can help and we can work something out. I'll attach the project below. Thanks.

    https://i.redd.it/pxfqek3rsz221.png

    https://i.redd.it/4vft35ivsz221.png

    https://i.redd.it/cnitdu6xsz221.png

    submitted by /u/SpareEcho
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    Accounting for a bond issue convertible to Cryptocurrency

    Posted: 07 Dec 2018 05:51 PM PST

    Situation:

    I issue a bond that says I'll give you 2% interest a year for your money and this bond will mature in 5 years. If, during that 5 years, a particular event occurs, your bonds will be converted into an as-yet nonexistent cryptocurrency. This cryptocurrency will have nothing to do with ownership of my company but will grant you access to a platform I'm building.

    My current thought process:

    Cryptocurrencies aren't actually currency (legally or per the FASB) and they are not investments as they don't give you the right to anything. Under the current rules and codification, they are actually considered intangible assets which is dumb, but not the focus of this post.

    Once my platform is up and running, any time I issue more of this currency (good for use on the platform) it would be revenue to me.

    So what we have is essentially a convertible note that will convert to what FASB currently considers an intangible asset.

    Am I right to list this as convertible debt right now and then convert the bond (plus accrued interest) directly into Revenue when the time comes? I'm trying to build support for this with the Codification, but it's tough when your first step is issuing a security that doesn't exist in their definitions (all consideration in the codification relates to an equity or other security conversion).

    submitted by /u/cryptoaccnt
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    Texas CPA Requirements Question

    Posted: 07 Dec 2018 09:18 PM PST

    I recently moved to Texas and am planning on sitting for the CPA exam. The requirements to sit include 150 credit hours from an accredited university, as well as 4 credit hours obtained from a Ethics course approved by the Texas State Board. I'm currently at 147 hours, does anyone know if those 4 Ethics credit hours would count towards the 150 I need, or will I have to enroll in some bullshit online course to get those last 3 credits?

    submitted by /u/oranis40
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    [CAN] CPA Ontario Practical Assessment Reviewers

    Posted: 07 Dec 2018 10:38 AM PST

    Are there any in here?

    submitted by /u/sergeiifederov
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    REG tomorrow and Have No Idea How I'll Do

    Posted: 07 Dec 2018 09:11 PM PST

    I took Becker Practice Test 3 today. I got 79% on MCQs but 44% on Simulations, averaging me at a 62%.

    I know Becker Practice Tests have about a 12-13% point curve overall, but does anyone know the curves associated with being great at one part of testing but woefully terrible on the other?

    submitted by /u/Kchan7777
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    Full-time starting in January and got invited to Big 4 firm Holiday Party

    Posted: 07 Dec 2018 11:09 AM PST

    And I already RSVP'ed. But the party is tonight and I really can't go anymore. Should I email firm saying I cannot make it anymore, or should I just flop and not go?

    Will it look bad if I don't go after RSVP'ing - since I'll be starting with them next year?

    submitted by /u/verydigbick
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    The Weekend Before Score Release

    Posted: 07 Dec 2018 07:48 PM PST

    The only thing I'll be doing is hitting F5 on the NASBA page every 5 seconds.

    submitted by /u/debitcreditgirl
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    working full-time and study for CPA?

    Posted: 07 Dec 2018 07:44 PM PST

    Everyone tells me to try and get all four sections done before i start full-time (big 4), but i have to push back my graduation date and therefore doesnt give me any time to study because ill be starting full time right after.

    Ive heard it's hell trying to study and work FT from basically everyone. Should I ask them to push my start date? Or should i try to do both? (idk if they'll even let me push my start date)

    submitted by /u/taemah
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    CMA worth it

    Posted: 07 Dec 2018 10:57 AM PST

    Hello everyone! What are the general opinions about the CMA? Is it worth it for someone working in private industry?

    submitted by /u/DooberGuy
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    Best book of basics in taxes

    Posted: 07 Dec 2018 07:35 PM PST

    Hey folks.

    What book would you reccomend for basics into taxes?. Been googling this a Lil bit, and found results like "How to pay zero taxes" and "1001 deductions and tax breaks" that don't seem to do what I am looking for, which is a book that can introduce me into taxes, specially as I am a foreigner and want to learn more about taxes in the US.

    submitted by /u/sebaselciclon
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    New job in Industry! Slightly confused tho

    Posted: 07 Dec 2018 03:37 PM PST

    Hi there!

    I recently accepted an offer for a staff accountant role (woohoo!). I'm a recent grad and have been working as an Accounting assistant at a small company since then. Upon looking at my offer letter, I got a bit confused. I was told in the interview they were aiming for a 52k-54k first year salary, but in the letter it says:

    "$23.50/hour + OT 42-43 hour work week First year average $53k"

    So does this mean I'm being paid hourly and not salary? Or is this a dumb question to ask, and I should just be thankful I got a new job. Of course, I could easily ask the recruiter, but why not ask the wonderful people in this sub??

    Thanks in advance.

    submitted by /u/AsquaredtimesL
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    Looking for a position as an Audit Associate

    Posted: 07 Dec 2018 07:21 PM PST

    So I graduated and now I'm looking to become a Audit Associate. I've been applying to a bunch of firms and so far I got 2 interviews. Next week I will find out if I got the job or not but I'm still going to keep applying in the meantime. I'm targeting small firms and I'm thinking of going in person and applying instead? Is this a good idea or bad?

    For people that read my post: how did you go about getting a job in public accounting? Any tips?

    submitted by /u/suzzybean
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    Was becoming a CPA worth it to you?

    Posted: 07 Dec 2018 03:28 PM PST

    I have finished my bachelors and am working as an accountant at a start up. Looking for some guidance/ inspiration. Do you think the work involved in earning your certification was worth it?

    -Thank you all so much for taking the time to reply!

    submitted by /u/Karastargazer
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