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    Accounting Ain't nobody got time for that

    February 24, 2019

    Accounting Ain't nobody got time for that

    Ain't nobody got time for that

    Posted: 24 Feb 2019 08:01 PM PST

    When you're at the karaoke bar on filing day and the partner wants you to participate

    Posted: 24 Feb 2019 03:50 PM PST

    Where’s my fellow non-coffee drinkers at?

    Posted: 24 Feb 2019 07:29 AM PST

    For all those blowing budgets this busy season

    Posted: 24 Feb 2019 07:22 PM PST

    When the space under your cubicle starts looking like the perfect place to nap

    Posted: 24 Feb 2019 08:22 PM PST

    When I'm showing my senior my work paper and he asks why I don't just freeze the panes.

    Posted: 24 Feb 2019 08:21 PM PST

    English Teacher to Accounting

    Posted: 24 Feb 2019 05:49 PM PST

    Hi guys,

    I got my masters in English and currently work as a middle school history teacher. I am 26, but I know that this isn't the career path for me. I used to consider accounting and still think it's a good fit so I'm looking to switch over. What would be the best plan/route for finding a job and starting my career.

    I am looking into taking the CMA exam (I know you don't need an accounting degree for that) and after I pass using that to get a job in the field. Hopefully that job will help me/assist me with going back to school to get an accounting degree.

    Thoughts on that? As well as any other routes to take?

    I want to make the switch as cheap and fast as possible yet want to secure a longterm plan as well to make a good career outta accounting

    submitted by /u/GOODmusicMAADcity
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    How to make friends at work

    Posted: 24 Feb 2019 02:39 PM PST

    Most of the people I work with seem cool, but how I do I form real friendships with my coworkers? I think it would make work more enjoyable since I'm spending so much time there already. I'm not the most outgoing or social person but I would like to have some work friends to make work a little less boring and isolating. How should I go about this?

    submitted by /u/acct257
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    Graduate in the fall(need advice)

    Posted: 24 Feb 2019 09:18 PM PST

    When should I start applying for accounting jobs?

    submitted by /u/Moe787277
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    intro to accounting.. question

    Posted: 24 Feb 2019 07:03 PM PST

    Samini Company completed an aging of their accounts receivable and came up with an estimated amount of $6,342.

    The credit sales for the period are $85,000. The balance in the Allowance for Doubtful Accounts is a debit of $817.

    If Samini uses 5% of credit sales as their estimating uncollectible accounts, how much will the credit be to the Allowance for Doubtful Accounts if Samini uses the percentage of credit sales as its method of estimating uncollectible accounts?

    submitted by /u/sen7991
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    Suggestions for "why you want to work here"?

    Posted: 24 Feb 2019 12:33 PM PST

    So a recruiter for a B4 wants to pass my info along to a certain office I'm targeting, and wants "a short note about why you want to work there". As much as I'd like to be honest and say "paychecks are cool", I feel like I should be a little more pandering.

    So should I like name-drop clients of there's? I did some research on last year's 10K's for the F500 companies in the city and found that this particular firm did 3 out of the 6 of them, but I also don't know if that necessarily means they're still clients. Plus I don't know if that seems a little too suck-uppy in a short note to be like "you guys are great because you have such prestigious clients like INSERT CLIENT HERE".

    submitted by /u/Jo_Backson
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    First job in accounting after graduating over two years ago

    Posted: 24 Feb 2019 07:31 AM PST

    I accepted a job at a public accounting firm and my start date is next week. I haven't had any exposure to accounting information since I graduated two years ago. I feel like I forgot almost everything but the most basic information. Am I screwed? Is there anything I should be learning up on before I start?

    submitted by /u/Nadechucker_1
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    What are examples of direct and indirect materials in the production of video game development?

    Posted: 24 Feb 2019 07:16 PM PST

    I'm working on a project and I'm having trouble finding a sufficient amount of examples of direct and indirect materials in video game production.

    I have CD discs and game cases, but are there any you guys can think of purely from the development side of it? I don't know if I'm researching the wrong things or have a terrible understanding of the definitions, but that's all I can really come up with.

    submitted by /u/MP32Gaming
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    Anyone Taken AUD this Quarter? Sitting March 1st

    Posted: 24 Feb 2019 03:18 PM PST

    Just finished my first mock exam and am scheduled to sit for AUD this Friday.

    I got a 72, not great but based on my experience with Becker Mock Exams in the past, I feel pretty good on passing so much as I keep focused on studying/working on weaknesses until I sit (took PTO from work).
    Any recommendations from my brothers in Valhalla who've already sat this quarter?

    submitted by /u/missmka
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    For people who started in Industry (pay)

    Posted: 24 Feb 2019 12:38 PM PST

    What was your job, starting pay, industry, and cost of living area?

    submitted by /u/lostfinancialsoul
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    Finding a Reliable Tax Accountants For Your Tax Returns

    Posted: 24 Feb 2019 09:59 PM PST

    Advice on Dealing with keeping up on work when getting sick

    Posted: 24 Feb 2019 06:11 PM PST

    Title kind of says it all. Im interning, going to school, running a club on campus.. its usually manageable but I kind of ran myself into the ground this weekend and have been in bed with a fever. I usually dedicate my weekends to doing all my schoolwork but this kinda set me back and I'm stressed over it. What do you guys do in situations like this to catch up on your work?

    submitted by /u/HeartunderBlade516
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    Meet the Firms advice?

    Posted: 24 Feb 2019 06:04 PM PST

    My very first Meet the Firms networking event is tomorrow. Is there any advice/tips you guys can provide that'll help me stand out and land an internship with the Big 4 recruiters? I'm looking for an external audit internship for the summer. Also, how many copies of my resume should I bring? right now, I have 6 copies. Is that too little? Ty in advance!

    submitted by /u/seriouskrawf
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    Database for finding out what companies each firm audits?

    Posted: 24 Feb 2019 01:04 PM PST

    I'm trying to figure out who audits who in my area (mainly Big4). I know you can see who audits F500 companies but I wanted to know if there is a resource that tells you by region. I know a few companies for each firm but its hard to keep googling and trying to figure out if the headquarters/large enough branch is in my region.

    Obviously I know EY audits Google, Amazon, etc but I don't live in that part of the country so I know I won't be touching those clients.

    I am in the (very) SE region if anyone wants to share their own knowledge or experience :)

    submitted by /u/jedipussy
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    Need FASB ASC for three problems *advanced financial reporting homework help*

    Posted: 24 Feb 2019 09:47 PM PST

    On January 1, Year 1, Shaq Co. acquired 100% of the outstanding common stock of O'Neal Co. As part of the total consideration transferred, Shaq promised to the shareholders of O'Neal to issue on May 1, Year 2, additional 1,000 shares of common stock if the total consolidated net income for Year 1 is greater than $1Billion. The consolidated net income in Year 1 was $1.2 Billion.

    The controller of Shaq Co. took the ACCY 410 class at the UIUC and remembers that this contingent consideration must be classified as equity (i.e., APIC) in the consolidated financial statements. However, the controller did not always come prepared to the class and does not remember whether this contingent consideration should be remeasured on 12/31/Year 1 or not.

    Research and cite a specific paragraph in the Accounting Standard Codification that can help the controller to determine whether this contingent consideration should be remeasured at the year-end, or not. Unless specifically requested, your response should not cite implementation guidance and illustrations.

    FASB ASC _ _ _ - _ _ _ - _ _ - _ _

    2) Larry Co. acquired all the outstanding common stock of Bird Co. in a business combination transaction. One of the identifiable assets recognized on the acquisition date by Larry Co. was in-process R&D. This intangible asset is expected to be used in future research and development activities and has no other alternative use. The controller of Larry Co. does not know how to account for in-process R&D and whether this intangible asset should be amortized or not.

    Research and cite a specific paragraph in the Accounting Standard Codification that can help the controller to determine whether in-process R&D should be amortized or not, and what is the correct amortization period, if at all. Unless specifically requested, your response should not cite implementation guidance and illustrations.

    FASB ASC _ _ _ - _ _ _ - _ _ - _ _

    3) Magic Co. holds 100% of the outstanding common stock of Jonson Co. and would like to prepare year-end (December 31, Year 2) consolidated financial statements. The separate financial statements of Magic Co. are prepared for fiscal year ending December 31, Year 2. Jonson Co. reports its separate financial statements for the fiscal year ending June 30, Year 1.

    Research and cite a specific paragraph in the Accounting Standard Codification that can help Magic Co. to determine whether it can use the financial statements of Jonson Co. (from June 30, Year 1) for preparing the consolidated financial statements for the fiscal year ending December, 31, Year 2, without any adjustments. Unless specifically requested, your response should not cite implementation guidance and illustrations.

    FASB ASC _ _ _ - _ _ _ - _ _ - _ _

    submitted by /u/accountingnerddd
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    Uncle Ray's tax stereotype

    Posted: 24 Feb 2019 09:32 PM PST

    When you tell someone you're an accountant they immediately assume you're a tax expert and want your advice.

    Tax has always been my weakest area of accounting, so I don't feel confident even helping my family on their tax returns. But it bothers me because I get imposter syndrome not fully understanding tax when thats what is expected.

    Obviously the CPA exam includes tax, but would passing that section make you an expert on uncle Ray's 1040? Or would it more be about corporate tax? I'm to the point where I want to become an H&R block certified just to feel better about it..

    Any advice from the accouning sages out there?

    submitted by /u/Sid503
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    I know it's Vox but how accurate is this?

    Posted: 24 Feb 2019 09:29 PM PST

    HISA Only

    Posted: 24 Feb 2019 09:29 PM PST

    Someone at work was arguing me with me that it is a good idea to just keep your money in a HISA and not spread it around because that account provides the highest amount of guaranteed interest. He also said that he gets 1.25% interest with 75,000 in the account and used the comparison that even if he's taxed half its still more earnings then what a TFSA pays. Please post why this is wrong so i can show him

    submitted by /u/VladGuerreroJr27
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