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    Accounting Every time....

    March 04, 2019

    Accounting Every time....

    Every time....

    Posted: 04 Mar 2019 06:24 PM PST

    Damn straight

    Posted: 04 Mar 2019 07:23 AM PST

    Smarter than me tbh

    Posted: 04 Mar 2019 09:03 AM PST

    Every Intern

    Posted: 04 Mar 2019 08:56 PM PST

    B4 CPA Policy

    Posted: 04 Mar 2019 09:16 AM PST

    Sneezing at Big 4

    Posted: 04 Mar 2019 01:26 PM PST

    First year staff at a big 4. Is it just me, or do you guys notice that when someone sneezes in the audit room, they get a number of "bless you's" based on their rank ? For example, an intern may get 1 or 2 but a senior sneeze scores about 4-5 bless yous ?

    submitted by /u/almesam
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    FAR is coming

    Posted: 04 Mar 2019 05:42 PM PST

    My coworker asked me how to upload a file.

    Posted: 04 Mar 2019 02:03 PM PST

    We're in IT audit. I want to die.

    submitted by /u/midsizedbear
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    I wanted to know how many days in a row I’d be working this tax season. My last day off was February 9th.

    Posted: 04 Mar 2019 08:56 AM PST

    PWC Interviews

    Posted: 04 Mar 2019 07:30 PM PST

    Just passed a first round interview with PWC for audit today, looking forward to number 2. I'm wondering, is the first interview the one where most candidates are weeded out or the second one?

    submitted by /u/fashfront
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    IRS (Large Business & International Division) will post almost 300 job openings on March 11

    Posted: 04 Mar 2019 02:22 PM PST

    The IRS's Large Business & International Division (which audits large corporate taxpayers, as well as large partnerships and individuals with international income) will be posting 292 job openings on USAJobs.gov on March 11. Most of the postings will be for both internal and external applicants and will close March 22. The positions will be all over the country in the following categories:

    • Internal Revenue Agent GS-0512-13 (220 positions)
      • 56 in Cross Border (International Corporate)
      • 18 in Treaty and Transfer Pricing
      • 146 in various domestic exam groups
    • Computer Audit Specialist GS-0512-13 (15 positions)
    • Tax Law Specialist (International) GS-0987-13 (12 positions)
    • Tax Law Specialist (International) GS-0987-14 (4 positions)
    • Management and Program Analyst GS-0343-14 (20 positions)
    • Competent Authority Analysts GS-0930-14 (4 positions)
    • Operations Research Analyst GS-1515-14 (8 positions)

    Plus a smattering of others.

    ​

    Generally, Revenue Agent GS-0512 positions require an accounting background or similar experience. Tax Law Specialist GS-0987 positions are designed for non-accountants who might have a tax background (e.g., LLM).

    ​

    External candidates are slated to be interviewed in late May, with selections made by early June and onboarding in early August.

    submitted by /u/vinnydabody
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    When I mistype GL in my notes

    Posted: 04 Mar 2019 03:51 PM PST

    Forensic Accounting: Best place to start?

    Posted: 04 Mar 2019 07:54 PM PST

    Friends,

    Enrolling in a MAcc program in the fall with a graduation date of May next year. My undergraduate degree is in homeland security, and in the future I see myself as a federal forensic accountant or special agent. As the title suggests, I was wondering where the best place to start for that eventual dream. B4? SEC? Small firm? Around the greater DC metro area if that is of any use. Any insight or advice would be extremely appreciated!

    Thanks

    submitted by /u/xrxt123
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    I just took FAR and lost my virginity in the process, AMA!

    Posted: 04 Mar 2019 01:07 PM PST

    Like the title says. SIMs were a fucking heap of shit. Becker did a good job with preparing me on MCQs, their SIMs can't compete with the stuff on the real thing though. I'm feeling indifferent right now, I might pass but I might not. Moving onto AUD next, worst case scenario is needing to retake FAR and spend a few more weeks with it in April/May, then spend the summer with REG/BEC.

    submitted by /u/F_Dingo
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    Just walked out of FAR

    Posted: 04 Mar 2019 09:38 AM PST

    And I fucking kicked its ass!! Except for one Sim but you can't have everything yknow

    submitted by /u/Abchef28
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    Is public IT audit a lucrative career?

    Posted: 04 Mar 2019 10:20 PM PST

    As in relation to salary increases and/or exit opportunities in a HCOL area?

    submitted by /u/gnitnuoccA
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    Any IT auditors who like their job?

    Posted: 04 Mar 2019 07:31 PM PST

    It seems like the wide majority (99%) of IT auditors on this sub are miserable and trying to get out. Kinda worrying since I'm getting an MIS degree and IT audit seemed like a good fit and it is worrisome reading posts of IT auditors even dreading getting out of bed.

    submitted by /u/dairydad
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    When you're assigning staff on an engagement.

    Posted: 04 Mar 2019 09:41 PM PST

    Resume for a 29yo pursuing a career change - please advise

    Posted: 04 Mar 2019 01:18 PM PST

    Where do companies find freelance CPAs?

    Posted: 04 Mar 2019 03:24 PM PST

    My small local firm occasionally hire CPAs to do more difficult/specialty returns. I was wondering where people actually looked for them. It would be nice to know if I ever go freelance.

    And where do you find the people with weird requests. Like the ones who just want their payment with fresh gamey meat.

    submitted by /u/god-of-mercury
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    Accounting career advice needed

    Posted: 04 Mar 2019 08:47 PM PST

    Posting for my wife.

    Background: I am a US citizen, my wife is a citizen of China living in the US. She has a green card and does not need work sponsorship to maintain residence. She has a bachelor's degree in Accounting (from China) and an MBA with a focus in Accounting (from US).

    Since graduating with her MBA in late 2016, she has a couple short term, accounting clerk type jobs through temp agencies. She didn't really enjoy these much, partly because they were so low paying and partly she felt they were not real accounting jobs. Her most substantial accounting position was as a Junior Accountant at a company in China for about 2 years.

    She has been out of work for awhile due to work authorization expiring and some traveling we did. She is ready to start looking again now but needs some guidance.

    The Questions:

    1. Is getting her CPA a good choice right now, or is her time better spent developing other skills (not sure what the would be, programming perhaps)

    2. How to get higher paying and career progressing jobs? She is often told she doesn't have enough job experience for mid-level jobs, or is overqualified for low-level jobs.

    3. She's not sure what type of accounting / career paths she wants to follow. Not really a question, just looking for general advice for her situation or where to find it.

    Thank you for reading.

    submitted by /u/Zumdair
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    [CA][Real Estate/Divorce] Selling house where one spouse put down a large down payment. Question about splitting the captial gains.

    Posted: 04 Mar 2019 06:05 PM PST

    My STBX and I own a house (well, it's sold and in escrow right now). One spouse put down a large down payment from extra profits of the sale of a prior home owned by that spouse (after we were married). It is understood that the down payment is 100% that spouse's separate property.

    Let's say the house sold for $1,200,000.
    Down payment by spouse 1 was $250,000.
    Adjusted cost basis of house is $550,000.
    Mortgage payoff $350,000
    Selling fees of $50,000.
    Each spouse paid 50% of all expenses after down payment.
    Realized capital gain of $600,000.
    Gross equity $800,000.
    Divorce will be finalized after the sale of the house; both will be filing as single in 2019.

    Would the percentage owned be as follows? (for 1099-S reporting)
    Spouse 1: $725,000 or 60.42%
    Spouse 2: $475,000 or 39.58%
    or would it be 50% each? $600,000 each.

    Spouse 1 will receive $525,000 from escrow
    Spouse 2 will receive $275,000 from escrow

    With a realized gain of $600,000, how much of that gain would each ex-spouse (both filing single) be responsible for come tax time? $300,000 each (50% each) (which would be $25,000 more gain than cash received by spouse 2) or something along the lines of the 60.42% and 39.58% financial interest listed above? ($362,520 and $237,480). I understand the $250,000 exclusion each will have.

    Note: Yes, I realize the mortgage is higher than it appears it should be. We re-fied and took cash out to pay for medical bills and home improvements.

    Thanks

    submitted by /u/DivorceAfterDisabled
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