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    Saturday, February 2, 2019

    Accounting Instructions unclear

    Accounting Instructions unclear


    Instructions unclear

    Posted: 02 Feb 2019 04:43 PM PST

    How do partners/SM/Managers deal with the fact that their staff can easily get a higher paying and less stressful job if they do get fired?

    Posted: 02 Feb 2019 11:13 AM PST

    A lot of my co workers are scared of getting a bad review/getting fired. I never really understood this as most will leave in 3 years, and if you're CPA certified it an even better reason to stand your grounds on certain demands.

    Is it because some think they want to run the partner gauntlet?

    submitted by /u/SeriousIntern
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    I find this advertisement to be personally offensive.

    Posted: 02 Feb 2019 03:25 AM PST

    Sometimes

    Posted: 02 Feb 2019 07:17 AM PST

    Some days I wanna leave public accounting, because I hate the constant annoyance of having to be aware of your charge time and getting in trouble if you don't charge the minimum... and other days I help a new staff get their balance sheet to balance and they let out a gasp of relief and thanks and I'm like yes I can do this for a bit longer. But just a bit.

    Anyone else ride this see-saw ?

    submitted by /u/Feebzio
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    Shout out to all my alkies

    Posted: 02 Feb 2019 11:39 AM PST

    Blowing up the company shitter this morning, reconsidering your life choices. Trying to find a balance of coffee and water to get your head back in the game, hating every second of being here. Power through, my doods.

    submitted by /u/455_m457312
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    Do you guys ever get so overwhelmed with busy season?

    Posted: 02 Feb 2019 03:34 PM PST

    This busy season has been especially bad so far. It's my first busy season as a full-time staff (I interned during busy season twice before this) and I just feel like everyone keeps dumping work and things they don't want to do onto me. I feel so unmotivated, but so stressed. I don't really know how to handle it. There are days where I don't want to even get out of bed because I know another shit show awaits me at work.

    submitted by /u/cggzb
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    Newish Supervisor Advice: what do you wish your managers would do that would improve your work satisfaction?

    Posted: 02 Feb 2019 01:55 PM PST

    Hello, I've been a supervisor for a couple years now and looking for new ideas to help my team survive turn over and pain as we get fully staffed again. I hate asking so much of them and not sure if cookies are the miracle I wish they were. Is there anything you wish your managers would do that would improve your work satisfaction/motivation/load management? Thanks!

    Edit: post inspired by https://www.reddit.com/r/Accounting/comments/amh9n0/how_do_partnerssmmanagers_deal_with_the_fact_that/?utm_source=reddit-android

    submitted by /u/Stephi1452
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    who's the greatest accountant of all time (and why?)

    Posted: 02 Feb 2019 04:50 PM PST

    so this is a really strange question but

    right now, watching the filings of robert mueller, knowing little about law, i can saw it's pretty fucking exciting (and terrifying.)

    is there a similar account for accounting? i guess at he top it gets nuts. i'm just a student.

    any crazy stories?

    (please tell me this profession isn't as boring as i think it is.)

    submitted by /u/Originalreaper
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    [CAN] I am just feeling so sad....

    Posted: 02 Feb 2019 06:56 PM PST

    Hello everyone,

    I'm in my final semester of university for Accounting, and I just feel so sad like I'm an utter disappointment. I've never been the strongest at Accounting and in fact whenever I think about opening a textbook to study it I always get this gut wrenching pain in my stomach of just sheer anxiety. Thoughts always come into my head such as "Why even bother? It's going to be too hard for you anyways." This results in me putting off everything until the last minute and then suffering the consequences when exam time comes. The highest mark I have ever achieved in an upper year accounting course has been a "B-", everything else is equal to that our lower. Now I'm seeing people from my high school, university colleagues getting accepted into Masters and Graduate Diploma's and it really hurts. I know you should never compare yourselves to others but it's hard not too, it was an equal level playing field for all of us, why couldn't I just have study harder? Why was my anxiety so crippling?

    Now it's time to enroll in CPA PEP, and I don't remember anything due to last minute studying and getting sub par grades, I really don't know what to do, should I just call it quits?

    submitted by /u/Distinct_Fee
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    CPA score release 2/5

    Posted: 02 Feb 2019 08:27 PM PST

    Anyone else waiting for score release from NASBA? Hopeful? Pessimistic? Might as well ask since it's not like I can find out now, even though they know what the scores are the moment we finish the damn thing...

    submitted by /u/taxpeon
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    Career Advice - GTA

    Posted: 02 Feb 2019 04:13 PM PST

    Hey Reddit!

    I'm a new Reddit user I'm from Toronto. Anyways, I was looking for a some career advice/tips. I finished my accounting degree last year from Ryerson and recently started Core 1. The thing is I don't really have any accounting/financial reporting experience so I haven't had any luck with job applications. I do have some personal tax preparation experience (like 3 months) and I worked at the CRA through the FSWEP program but it was mainly admin work and some analytical work helping auditors. Beyond that I was an Research Assistant at Ryerson but the research was non-accounting related.

    I recently got offered a 3 month contract at Deloitte Financial Advisory last month through an agency for a short term project. So I am not an employee of Deloitte and don't have access to internal postings. Unfortunately, the work I am doing is nothing related to accounting/finance/or even analytical in nature. It's more legal work. It's pretty much data entry and entering litigation claims into a database. I was wondering if anyone can give me advice on how to get accounting experience or how I can make the most out of my time at Deloitte?

    submitted by /u/Iinsaan
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    what kind of industries/jobs/etc require accountants to wear a tie or suit?

    Posted: 02 Feb 2019 12:08 PM PST

    i kind of like formal wear... so i probably wouldn't want to wear a hoodie or something...

    submitted by /u/dontreallylikemusic
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    What’s the best way to get out of accounting from big 4 audit?

    Posted: 02 Feb 2019 05:44 AM PST

    I'm in my second year, and I'm not feeling passionate about it at all. I want a different workplace culture, a job where I can use more creative thinking and solve challenging problems, and one with more human interaction. How can I get out? I think I'd like consulting or finance but I'm not sure of the path to get there. Maybe it would start by switching to a consulting or financial advisory role within my own firm? I also think I'd like law a lot, and law + CPA + big 4 experience is a powerful combination, but I'm not sure I can afford three years of school. I did have a >3.9 from a top 30 school so maybe I could get some kind of scholarship. Also have been looking at master of analytics programs. Any tips or ideas of things I can start looking into would be much appreciated!

    submitted by /u/macstudent333
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    Former public accountants, when did you officially decide you had burned out? What did you move on to?

    Posted: 02 Feb 2019 03:13 PM PST

    Regardless of whether or not my next opportunity is lined up, I've frequently fantasized about putting my notice in two weeks before April 15th. Upon the completion of my eight busy season, I'm thinking my time in public accounting has just about run its course. Did you contemplate entering a field other than accounting? What did recruiters pitch to you? How long did it take for the next opportunity to fall into your lap?

    submitted by /u/annoyedcpa
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    Credit to the owner: posted by TheBig4Accountant page in facebook.

    Posted: 02 Feb 2019 10:38 PM PST

    Just Another Bonus Payday!

    Posted: 02 Feb 2019 10:20 PM PST

    Question about intro accounting

    Posted: 02 Feb 2019 10:11 PM PST

    In my textbook, there is a scenario of a company. One of its purchases is of furniture. Practice homework asks to make the various financial statements for it (income st., balance sheet, retain. earn., and st. of cash flow). On the answer key, it lists the furniture as an asset instead of in expense. I suppose i can see why it is an asset, but I mostly see it as a cash expense (thus i messed up the income statement, listing it as an expense). Can someone explain why is it not listed as a cash expense?

    Second, the company purchases equipment on credit, so it's listed under Accounts payable. The company pays off some of it, paying 400. However, on the answer key, it is not listed as an expense in the Income statement. However it is listed as an expenditure in the Statement of Cash Flows. Why is it considered an expenditure, but not an expense? Thank you!

    submitted by /u/Lincoln56
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    How's busy season so far people?

    Posted: 02 Feb 2019 10:07 PM PST

    Let's share some tips how to get through it cause sharing is caring!

    - sleepless nights just to meet deadlines

    - need to work at the office by weekends

    - neglected people (family, friends, significant others) due to hectic schedule of yours

    - still happy?

    submitted by /u/ROSEyChix
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    discrepancy between balance sheet and cash flow statement, or Am I calculating working capital incorrectly

    Posted: 02 Feb 2019 09:59 PM PST

    Hey so im looking at a certain stocks financial information and I have current assets of 2.7B and current liabilities of 400m but on the cash flow statement under changes of working capital the value is (89m) should it not be 2.3B?

    submitted by /u/salamanderc0mmander
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    Is there anywhere I can find free CFE exam study materials?

    Posted: 02 Feb 2019 05:50 PM PST

    There has to be something.

    submitted by /u/Endura_GW2
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    Questions regarding SEP IRA contribution deduction

    Posted: 02 Feb 2019 05:42 PM PST

    Questions regarding SEP IRA contribution deduction

    So I am the single owner and operator of an LLC with no employees. This past year business really took off for the first time, so I started putting money into an investment account for tax savings. I ended up with about 11.5k, but because I didn't do my research well enough I didn't make an IRA and a 401k to contribute too. I was advised by a CPA to retroactively create an IRA for 2018 and at least get the 5500 in there, leaving the rest on the table as non deductible income. However after looking through the options, I found that a SEP IRA would likely be the best option for me. I noticed that you have the option of contributing much more as an "Employer" rather than an "Employee". So, considering I am the "Employer" and "Employee" of the company, could I just dump all 11.5k in the SEP as an employer and not leave that additional 6k on the table?

    https://i.redd.it/k795aapuc9e21.png

    submitted by /u/jstosec69
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    Yo how the fuck you guys deal with wrist pain?

    Posted: 02 Feb 2019 09:21 PM PST

    I've only been here a month and my wrist is already killing me. I sit so my elbows bend at a 90 degree angle, I use a ergo mouse, and I use a pad thing, but I still feel pain in my wrist. I dont think its carpal tunnel since I dont feel numbness, it just feel like I've been doing wrist curls with bad form.

    submitted by /u/Jaleopeno
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    What’s the consensus on the new revamped ninja?

    Posted: 02 Feb 2019 05:18 PM PST

    Managerial accounting help

    Posted: 02 Feb 2019 08:58 PM PST

    Hello! I'm currently struggling on a multiple choice question for my managerial accounting class. I was hoping one of you guys could explain it for me so i actually understand what im looking at. https://imgur.com/a/7lKLVI3

    submitted by /u/Pipns
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