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    Friday, March 1, 2019

    Accounting 🐸🍡

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    Posted: 01 Mar 2019 04:23 PM PST

    March Feels...

    Posted: 01 Mar 2019 05:54 AM PST

    Do any of you put in headphones then pretend not to hear people who need something from you?

    Posted: 01 Mar 2019 02:16 PM PST

    Everyone is fucking annoying me.

    submitted by /u/accountinginkc
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    r/Accounting

    Posted: 01 Mar 2019 07:22 PM PST

    Hahahaha.... I dare you to add this to your email signature

    Posted: 01 Mar 2019 05:19 PM PST

    Mistake in Amazon's 10-Q

    Posted: 01 Mar 2019 03:54 PM PST

    So I was looking at the Statement of Cash Flows on Amazon's 10-Q from Sep. 30, 2018 and I noticed that under Investing Activities they had Purchases of Property and Equipment as a positive number. I even checked against Amazon's prior 10-Q and their 10-K and both have these numbers as negatives. This is a mistake right?

    Snapshot of Amazon's Investing Activities from the 10-Q on September 30, 2018

    Amazon 10-Q June 30, 2018

    Amazon 10-Q September 30, 2018

    submitted by /u/Kvyrokranaxt
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    Client send you the TB in PDF format? Not a problem!

    Posted: 01 Mar 2019 08:27 PM PST

    When you try to unwind during busy season

    Posted: 01 Mar 2019 08:23 PM PST

    What has public accounting ruined for you?

    Posted: 01 Mar 2019 12:52 PM PST

    My eyesight took an immediate hit from staring at multiple screens over a prolonged period. Of recent, my level of cynicism has reached an all-time high after clients (and sometimes colleagues) have provided a steady diet of misrepresentations and blown delivery dates.

    submitted by /u/annoyedcpa
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    Busy season

    Posted: 01 Mar 2019 11:32 AM PST

    Hours so far in busy season have been 9-8 M-T, 9-5 F, and no weekends - how rare/not rare is this?

    Posted: 01 Mar 2019 08:12 PM PST

    This is tri-state audit (FSI) at a B4, for reference.

    My busy season doesn't seem to be nearly as bad as most people in this sub. Was wondering if my experience has been as much as outlier as it seems to be from reading this sub.

    submitted by /u/abertbrijs
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    Surviving busy season

    Posted: 01 Mar 2019 04:19 PM PST

    Just wrapped up another busy season and I see a bunch of people on here wondering how one could get through it. Figured I'd make a list of ways to get by.

    -Crush Med Grade review notes (so intense they take Forever to address, not recommended for associates)

    -Get a sixer of low grade booze and watch the accountant staring Ben Affleck with your bros in the small free time that you have

    -Ponder jobs in the Caribbean that you will never take cause you're an Accountant and too risk averse

    -Think about how if Enron never happened you wouldn't be testing controls

    -Black Tar Heroin (mid grade does just fine IMHO)

    -Tell people that despite being a CPA you don't actually do taxes

    -Only listen to Coldplay past 1030pm (old albums obviously)

    -Watch Old videos of you partying in college while you're at work on Sunday

    -Asses yourself for OTTI as you're life stock is dropping (forget that this is the old accounting standard)

    -Convince yourself that the 10-K of the random company you're auditing is more important than you're friends marketing job

    -Make dumb lists on reddit

    submitted by /u/skoflow
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    So I'm a felon, what are my chances

    Posted: 01 Mar 2019 04:27 PM PST

    I want to major in accounting since there is always a demand, and I'm super into math. I can have my felony expunged in 7 years. The incident occured 2 years and 350 days ago. I have like 6 years (altogether) restaurant management experience and a 3.9 GPA so far (first semester), if I can keep up the gpa, and network enough as well as keep up my own hobby, juggling, would you fine people say I have a chance at a good career in accounting before the expungment?

    Edit: it was a drug offence, and it was possession not distribution or manufacture.

    submitted by /u/eyeIl
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    College LIT Tour SCAM / Cobian Marketing

    Posted: 01 Mar 2019 11:08 AM PST

    My Big4 Internship Experience

    Posted: 01 Mar 2019 05:54 PM PST

    I'm currently doing an internship with the B4, and it's been a wake up call for sure. My hours were 6 days days a week from 8:30 to 12:30 at night. Friday and Saturday we would leave at 6:00 PM. With the commute adding another hour each week. I came in thinking I would just work and go to the gym and be perfectly fine with doing that for a few months. But with nearly 80 hour work weeks, I simply couldn't keep going to the gym and still be able to function the next day. It seems very counter productive to me because the productivity levels seem to hit a brick wall for nearly everyone after 55 hours. It seemed like a lot of both of my engagement teams were a little dead inside throughout busy season. I didn't mind the work, at times it was even enjoyable, but doing it for over 75 hours every week was just too much. My mental health has been on the decline since I started. I'm happy next week is my last week and I was able to get firsthand experience. From now on I will absolutely cherish all the free time I have left for my last summer and last half semester of college. Do you guys think I should still accept the offer with Big4 and put in a couple years before leaving to find better work life balance? Or should I go straight to a job where I know work life balance isn't taken as a joke? Also, I plan to graduate with my CPA as well and know that will help, but is putting the Big4 on my resume too important to pass up?

    submitted by /u/Flyingd202
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    First month-end as "controller"

    Posted: 01 Mar 2019 10:41 AM PST

    So I am an accountant in manufacturing and one of our division sites lost their controller a few months ago, and their accountant quit last week. They have been slow to hire so I got sent by my regional controller to close this month. I have 1 yr as an accountant so I'm not totally lost, but what the frick. I'm supposed to close the month in place of a senior accountant and a controller? I came in this week and the accountant quit last Thursday, so I have 0 context for how they did things here lol. Anyone else get tossed in like this before? As a side note, I would say to heck with it, and quit too, but I really like my regular job and my controller is pretty great. End rant.

    submitted by /u/Work124933
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    CBV Designation

    Posted: 01 Mar 2019 08:59 PM PST

    There seems to be little to no information in terms of reviews on this designation - does anyone have any experience with take courses/exams for the CBV designation? I'm going to be working towards it soon for a job which requires it and need some advice/maybe some mentor ship on it.

    submitted by /u/porkchop772
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    What are your stories on people going on vacation during busy season?

    Posted: 01 Mar 2019 08:11 PM PST

    Title says it all, one of our new seniors had a baby not too long ago and decided it was a good idea to take his kid to Lego Land because "he has to experience this childhood dream" in the middle of the season.

    I saw the group of associates that work with this dude, work until midnight to cover his ass.

    What are your stories?

    submitted by /u/taxislife
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    Advice for lobbying to Big 4

    Posted: 01 Mar 2019 04:16 PM PST

    Hey guys,

    I was wondering if you have any advice on how I should approach the process of applying to Big Four firms, and how to speak with recruiters. Understandably, I feel a little star struck when I talk to Big 4 recruiters because kids my age are so obsessed with going Big 4. Btw, I am a junior in college, and looking at summer 2020 internships with B4. In the other internships I've had, I've always felt like the employer was doing the selling, not me. Talking to B4 recruiters, I feel like I have to sound extra energetic, and borderline feel like a kiss a**. I'm sure many of you have gone through this process, can you give me advice on how to handle my emotions and how to speak with recruiters when working toward securing a B4 internship? Also, what are creative ways to say why I want to work for a B4 firm, when one of the most obvious things in my mind is that they're a Big Four firm and I want to start out my career in B4. Thanks guys.

    submitted by /u/alexandertheACCT
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    I need some advice please (serious answers only)

    Posted: 01 Mar 2019 07:27 PM PST

    So there was this small accounting firm in my town (4-5 people) that asks one of my professors to post his internship. But long story short, dude was a jerk (I am telling you, all my friends felt the same way and I did too) and made his interviewees feel like shit. Type of arrogant people that likes to shows off himself if that helps. There are a few other things that he did that bothered us as well. Well, I took the initiative to voice my opinion and leave an 1 star rating on his firm (there was no glassdoor or anything) and then he responded back in a very rude way that demanded a detailed answer. So I did, with my name and everything (which I shouldn't, I know) on Google Review. Then he reached out to my professor with a screenshot of it and now the professor called me in for a discussion (Unfortunately, I am very popular and well known on my campus and in our accounting program). I am trying to get a hold of the professor to get if I am getting any troubles for it, even though I don't think I am because I mean, it is Google Review and I left an honest answer. And that dude literally interviewed people in shorts and flip flop. Do you all think (especially those involved on campus in like BAP) I would be getting into any trouble from the school's side? I am expecting some types of advice and feedback kinda thing but I am getting paranoid because of having name recognition on campus (That was even jerky of him to reach out to our professor about it).

    submitted by /u/pikeguy98
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    New Life

    Posted: 01 Mar 2019 06:45 PM PST

    Sub,

    Please understand your concerns of how shitty life is in public accounting, including how stupid interns are, have been well heard. I appreciate all hate on public accounting as well as how miserable life is in general.

    Lets do better, let's make it worse. Ask yourself if your doing your part to hate your life more, instead ask an intern to help make it worse. Do so by thanking them before asking them for help, that way they are reinsured their contribution in making your life worse is well deserving of their overtime pay.

    Remember you are shit, they will soon be you within a year or two. Of course shit on those that don't have a chance in hell in passing the CPA, but remember when they do pass the CPA and start working at your firm, don't stop shitting on them. Thank god your a senior by then. Now you too, can fake understanding shit about accounting and your life. Hopefully by now you have loss hope in your life, goals, hope, and even passion to wake up another day.

    If so, I congratulate you on your path to manager and senior manger. I encourage you to hate all those around you, getting shit on due to the workpapers you reviewed and the comments by your engagement partner for your lack of attention to detail. Don't forget those review comments you need to address after the financials have been opined on, that keep your audit file open. Best yet are those partner comments related to the stupid ass intern's work paper who is now back at school and can no longer be reached. Don't worry though, they shall return, and you can address it then, in about two years.

    Let's face it, by now you have no other choice to dive as deep as you can into public accounting. Yea that's right, you can make it to Partner. Just remember to find a better coping mechanism by then. Alcohol, drugs, pills are the obvious choice but if I'll be honest the only ones who make it are those with the most Narcissistic attitudes. Thankfully they too are capable of having alcohol, drug, pill, anxiety, depression issues, without the need to give a shit about you or anyone else.

    So just remember if you plan on making it in public accounting stop giving a fuck about yourself and those around you. The moment you have the compassion, neigh the thought, of helping another human being, then you have forfeited all rights of success. Your just another Partner's bitch, get ready to be sacrificed you fucking pleb. Just remember you choose this path!!

    submitted by /u/Lil_Twist
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    2018 CFE Pass Rates Released

    Posted: 01 Mar 2019 09:23 AM PST

    The 2018 CFE pass rate has just been released. September 2018's CFE offering had a 77.6% pass rate, the exact same as 2017.

    I think this is a lot higher than most of us (the 2018 writers) were expecting, though there may obviously be some bias involved. What do you guys think?

    submitted by /u/serendae
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    This Child May Be The Chosen One

    Posted: 01 Mar 2019 07:39 AM PST

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