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    Wednesday, December 26, 2018

    Accounting When the office sends you to do an inventory count (literally) in the middle of nowhere!

    Accounting When the office sends you to do an inventory count (literally) in the middle of nowhere!


    When the office sends you to do an inventory count (literally) in the middle of nowhere!

    Posted: 26 Dec 2018 05:27 PM PST

    A work life balance in public accounting.

    Posted: 26 Dec 2018 09:41 AM PST

    A reminder for your friends as the season approaches.

    Posted: 26 Dec 2018 11:48 AM PST

    is accounting a social job?

    Posted: 26 Dec 2018 07:38 AM PST

    are there areas of accounting where you can literally not talk to people most/all of the time?

    submitted by /u/LorettaYoungSiIks
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    Certifications To Get As An Accounting Student?

    Posted: 26 Dec 2018 09:09 PM PST

    TLDR: Any small certifications (not CPA, CMA) that can help me land a paid internship or entry position? Example: Quikbooks certification.

    So I'm feeling a tad discouraged lately. I've been looking for an internship, but soon to be a regular position, as I'll graduate over summer 2019. I spammed my resume all day, every day in the fall 2018 recruiting season. Probably 50 applications. I got 7 "human written" email rejections without interview, and interviews with two large companies.

    Concerning company one, I was phone interviewed once, in person interviewed once, told I would receive news in 7 business days, and on day 7, received rejection.

    With company two, I was phone interviewed twice (same questions), personally interviewed by two henchmen once, and then called in for two interviews on the same day with two separate managers, immediately followed by a lunch with company executives. All seemed spectacular. About 10 days later, I received an unceremonious rejection via email on Christmas Eve.

    The fact that a paid internship has been so tough to wrangle has me worried about the actual job. Obviously there's the CPA, CMA, alphabet soup. Are there any smaller certifications that I can get that'll help me out? I've been looking at a Quikbooks certification that might be good, but a few of these "certifications" sound as though they're just designed to prey on students and milk them for fees.

    Any help? Please?

    submitted by /u/AGiantSociopathHere
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    Masters worth it?

    Posted: 26 Dec 2018 05:46 PM PST

    Hello /r/Accounting , I'm currently an undergrad studying accounting and I was just looking at the CPA requirements here in Illinois. Given that you need 150 credit hours to take the CPA, most people go for their masters in accounting to get past that threshold. I was planning on doing that, but I realized that I can actually meet the requirements with just my undergrad without much extra work (just need 2 credit hours of research + 1 more accy class).

    The way I see it is that I can either squeeze in all the requirements in my undergrad and then get my CPA or graduate a semester early, get my masters, and then get my CPA. The master's wouldn't cost too much more given that I'd be able to get my undergrad a semester early. From a career perspective, how valuable is the master's if I get my CPA regardless? Might make studying for the CPA a little easier with the extra year, plus I wouldn't mind the extra recruiting season. Any insight would be appreciated.

    submitted by /u/hickeysbat
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    3.5 Years private experience, currently make 55k in NJ, not getting a raise anytime soon. Looking to move to a different company, what salary range should I expect?

    Posted: 26 Dec 2018 03:07 PM PST

    Work for a global fortune 500 service provider at the branch level, "Accountant II" no CPA, started at 48k 3.5 years ago, controller had to push super hard to get me up to 55k. The company I work for is super stingy with giving market level salaries and raises across all departments. For that reason I'm looking to leave, what salary range should I be expecting? After doing some research I think the range might be round 65-70k, but not entirely sure. Also, how much does having your CPA or MBA increase your salary?

    submitted by /u/dmanwal93
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    What's the point of trying when all I ever do is fail?

    Posted: 26 Dec 2018 03:38 PM PST

    Alteryx, Tableau, SAP, or Other Reporting Software?

    Posted: 26 Dec 2018 06:10 PM PST

    Does anyone use Alteryx, Tableau, SAP, or any other reporting software?

    What is the actual purpose of using one of these reporting softwares? Can you share examples?

    Reason: I work for a large healthcare company that is looking to focus on a single reporting software for management. I have talked to salespeople that all note that their softwares can do everything. I would like some real experienced users' opinion.

    submitted by /u/MNCPA
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    Senior graduating Spring of 2020. I don't have an internship and I have a below average GPA. I have no idea what to do...

    Posted: 26 Dec 2018 01:45 PM PST

    In summary, I used to study chemistry but I changed to accounting towards the end of my sophomore year. Right now, Im a senior, but I have one extra year to graduate because as already mentioned, I wasted 1+ years studying chemistry. To this day, I still don't have an internship and my CGPA is still sub 3.0 due to scoring poorly as a chemistry major.

    What should I do from here on out, to ensure that I get a big 4 internship or any audit/tax internship ASAP?

    I already wasted one year and I don't want to waste another year of my life.

    CGPA: 2.8

    MGPA: 3.3

    PLS HALP

    submitted by /u/Iknowallursecrets
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    Taxable Income according to the IRS?

    Posted: 26 Dec 2018 06:53 PM PST

    I have a co-worker at my place of employment (a private company, no government funding or anything). In 2018, he stopped federal withholding and plans on not filling a 2018 tax return. He claims that the IRS defines taxable income as "income derived from...etc.". Since the IRS uses the word "income" to define "taxable income", he is withholding taxes until the IRS justifies that his income is taxable essentially.

    Obviously this is a ridiculous argument, but I lack the knowledge to let him know why. First, is there a simple court case (with few compounding facts) where someone tried that argument and failed? He claims all the IRS cited cases have some compounding fact that makes it non relevant to his situation.

    Secondly, what's the chance he gets hit with interest and relevant fines if he tries this argument? Will they threaten fines before levying them, or just straight up levy them once they hear his argument? He says he will pay before the fines kick in (if it gets that far before the ITS gives up), but what's the chances the IRS will fine him regardless of his new willingness to pay?

    If this is the wrong place to post, please let me know. Thanks!

    submitted by /u/ProLifePanda
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    Good read; the history of Arthur Andersen, the man and the firm

    Posted: 26 Dec 2018 09:03 PM PST

    [Canada] is it a good thing if an accountant can speak French?

    Posted: 26 Dec 2018 04:26 PM PST

    Anyone else like wearing ties?

    Posted: 26 Dec 2018 08:11 PM PST

    New project and I have to wear suit/ties everyday. It has made my mornings so much simpler. No more picking out shirts that go with certain pants or worrying about whether or not a polo should be tucked in, just grab a white shirt and a new tie and your good to go.

    Am I a lunatic?

    submitted by /u/red0ct0ber
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    What do you guys wear in your ice cold offices to stay warm? I’m looking for something to throw over a dress shirt that isn’t a fratagonia vest or fleece jacket.

    Posted: 26 Dec 2018 11:56 AM PST

    Clarification: I wear a sweater over a shirt a few days a week but I'm looking for something else for the other days to mix it up

    submitted by /u/rolltide339
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    CPA Required

    Posted: 26 Dec 2018 08:42 AM PST

    If I have an accounting degree and do not take the CPA exam, will I still be able to practice accounting? I'm trying to weigh the pros and cons of going to graduate school.

    submitted by /u/pope21
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    Currently B4 employed... know I can’t stay here for long. What do I do next?

    Posted: 26 Dec 2018 05:10 PM PST

    I have not been working very long, but I already know this is not the type of work or lifestyle I can see myself doing for an extended period. I am curious to see what other paths (hopefully with higher salaries) others in my position have taken. I got offered a different job with a higher salary, but turned it down to go with public accounting, so I know it's possible. I would consider an MBA, but I don't know what for. Also, I passed the CPA exam but need time off from anything studying related so I wouldn't join a program for at least another year. I really have no clue what to do next - the only thing I know is that there will be a next.

    submitted by /u/slbb617
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    Would a B4 firm relocate you to a fiance?

    Posted: 26 Dec 2018 07:03 PM PST

    The TL:DR of my situation is that I'm in the middle of a MACC program right now, with an offer to work at a Big Four office near my family (east coast). So far graduate school has been difficult but great because I landed my dream job, have been making honors, and met a woman who I am seriously considering spending the rest of my life with. The issue is, she is also in the same MACC program, with an offer from the same B4 firm, but across the country (west coast). We are at a point in the relationship where we talk about getting engaged without it sounding scary and I am absolutely sure I love her. But I am really scared about the thought of being long distance with her for a long time.

    We MET in this MACC program and have definitely not been dating long enough for me to propose without freaking out our families, even though I'm sure she's the one. The earliest I would do it is probably around next August. But I am scared this will cost one of us our dream careers, which I would never want her to sacrifice for me. I would feel guilty about asking the firm for favors like this before I even start and prove myself as a good employee. Talking about it now, we were thinking about doing long distance after we start work next fall, and then get engaged around December if we can't deal with not being together, but I don't know how our offices would feel about this.

    I know I'm rambling a bit but I just feel so conflicted about this situation. I guess my real questions are; for anyone working in B4 as a manager/recruiter, has something similar to this happened to some of your employees? Would the company be willing to relocate employees to different offices because of an engagement, and if so how long would that relocation take? Would it be better to address it before you start work, or to become engaged during your first year of employment?

    Any feedback is greatly appreciated, thank you.

    submitted by /u/runioh
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    Bankruptcy as a CPA

    Posted: 26 Dec 2018 11:07 AM PST

    Hey folks.

    Just wanted to reach out and solicit some opinions on filing Chapter 7 bankruptcy as a future CPA. I currently have a standing offer from a big 4 CPA firm, a 3.7+ GPA, etc. So things are looking pretty good for me in the area. But my longtime girlfriend and mother of my child was diagnosed with multiple sclerosis and that has led to me incurring some significant debt (along with some Joneses chasing, I'm not completely without fault). I'm not currently insolvent, but it's daunting. I would meet the means test for chapter 7 BK, so that's not a concern. I'm pretty well versed in bankrupty itself, my question is more about how it relates to my future employability.

    With a chapter 7 discharge hanging out on my credit report, is that going to hurt my employability? Should I wait until after my background check is complete to file? Or are the ramifications bad enough that I should look at other options.

    No moralizing please.

    Thanks.

    submitted by /u/radiogaslight
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    For a great learning opportunity!

    Posted: 26 Dec 2018 10:07 PM PST

    Has anyone here had success applying for firms and getting hired out of the state they graduated college in? Upon getting my accounting degree I would love to find work in Colorado and leave California to begin my accounting career. If you have done something like this, how was your experience?

    Posted: 26 Dec 2018 01:39 PM PST

    Would I be eligible to take the CPA exam?

    Posted: 26 Dec 2018 07:47 PM PST

    I am a junior at UF with 120 credits atm, I will be finished with my bachelors in fall of 2019 with 150 credits. Would I be eligible to take the CPA exam? UF is accredited by the Association to Advance Collegiate Schools of Business (AACSB) International.

    submitted by /u/c3llow
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    Depreciation/Amortization of Assets Acquired From Business Purchase

    Posted: 26 Dec 2018 03:16 PM PST

    I purchased a business via an asset transfer between my S-Corp and the seller's S-Corp. Assets were limited to contracts to provide a service to a customer and equipment/vehicles to operate the business. The contract is generally renewable however next year the company is changing the structure of their contracts and we will have to enter negotiations and re-structure the operation of our business in order to continue working with them. The asset transfer agreement did not assign any specific value to the individual assets and only referenced one purchase price for all assets in total.

    Does anyone know how I would depreciate the intangible assets like the contracts and delineate their value vs the vehicles and their depreciation?

    Thank you!

    submitted by /u/VT_Hokie_VT
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