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    Accounting Excel is the best

    April 27, 2019

    Accounting Excel is the best

    Excel is the best

    Posted: 27 Apr 2019 03:38 PM PDT

    Taking a bath after a long day

    Posted: 27 Apr 2019 06:58 AM PDT

    Never know when they'll need an estimate

    Posted: 27 Apr 2019 07:06 PM PDT

    Off to a strong start

    Posted: 27 Apr 2019 10:34 AM PDT

    Retired tax lawyer has documented over 7,000 restaurants he's eaten at for 30+ years so he doesn't "inadvertently go to the same restaurant twice"

    Posted: 27 Apr 2019 08:01 PM PDT

    The Big 4 client market according to Big 4 partners.

    Posted: 27 Apr 2019 09:33 AM PDT

    Salary Big 4 Bay Area question

    Posted: 27 Apr 2019 01:52 PM PDT

    A1 Salary is now 64K for Bay Area big 4. Anyone know what the typical bump in pay from A1 to A2 is?

    submitted by /u/AlwaysMovingAlways
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    Did terrible in a lot of my classes this year.. Junior in college

    Posted: 27 Apr 2019 08:42 PM PDT

    I feel so ashamed because I performed terrible in a handful of courses due to lack of motivation where I finished the year with multiple 60s. My average is so low now and I feel like falling into deep depression because I'm so deep into my academic career with only one year left and I do this. I realize this is all my fault which makes things so much worse and I feel like I ruined my entire life because my transcript is so tragic... :( Full time recruitment for Big 4 will happen this September and I feel like they won't give me a chance anymore because of my grades. However, one of the firms knows me kind of well and I have an interview to do ELP with them this summer but if I don't get in through ELP I'm going to be so screwed. I realize this is all my fault but I just want some advice/help if anyone else has gone through something like this please.

    submitted by /u/zxx456
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    GST/HST Return Self-assessment on land (CAN)

    Posted: 27 Apr 2019 06:46 PM PDT

    I'm a co-op student and ran across a sort of odd situation when reviewing a client's GST/HST return. Can somebody please let me know if I'm understanding this correctly?

    • This client purchased land in 2016.
    • He reported the tax paid on the land ($1,000) on line 208 of the return in 2017.
    • He did not claim the ITC regarding the purchase in 2017.
    • In 2018, he claimed $1,000 ITCs on the land.

    Should the ITCs and the self-assessment have been reported in the same period? And does it matter that the land was purchased in 2016 but reported on the 2017 return?

    Thank you so much

    submitted by /u/acchelp12345
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    Working while in College + Interning?

    Posted: 27 Apr 2019 11:57 AM PDT

    I graduated about a year ago from a community college with a Liberal Arts Math & Science degree as I had absolutely no idea what I wanted to do. At first I looked into doing a RN career but after looking more into it I felt like being in charge of someone's life is more difficult than it seems.

    So now I'm thinking of going back to school and try out in the accounting field, currently live in NYC.

    My question is, I'm 21, I work full time at a retail chain as a shift supervisor, how hard would it be to manage college and a full time job? On top of that from what I've read is that I'll have to intern while in college to develop experience and connections.

    submitted by /u/Booty_Pope_
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    Deloitte - Friends & Family Event

    Posted: 27 Apr 2019 03:58 PM PDT

    Me: accounting undergrad student.

    I was invited to a friends and family event from a recruiter. I'm not anyone's friend or family LOL.

    Is this a regular meet the firm's event? What is there to expect?

    I'm from Vancouver, BC if that means anything.

    submitted by /u/TobaccoTomFord
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    Shoutout to Southwest accounting team

    Posted: 27 Apr 2019 09:13 AM PDT

    Nothing groundbreaking, but have to hand it to Southwest's accounting and finance team for making them look decent coming out of Q1. Obviously it's quite easy to see through what they did and deferring expenses isn't the greatest long-term move, but they could've taken a beating in Q1 after seeing the impact of the 737 MAX debacle on the company.

    submitted by /u/jescrow99
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    Which industry do accountants make the most in the long run?

    Posted: 27 Apr 2019 12:40 PM PDT

    Healthcare, manufacturing, law firms, etc

    submitted by /u/dillaani
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    Debit balance of "Allowance for Doubtful Accounts"

    Posted: 27 Apr 2019 09:10 PM PDT

    Hi everyone, At the moment I'm a university student. I am doing my homework for accounting, and there is one exercise which makes me very confused. If you do learn accounting, I am sure you know about "Allowance for Bad Debts". Normally, it has balance on credit side, and will appear like this on balance sheet:

    Account receivable

     Less: Allowance for bad debts

    But in my exercise, they said that "Allowance for bad debts" had balance on debit side. So I wonder how they present the debit of this allowance on balance sheet? Could you guys please tell me? Many thanks.

    submitted by /u/dark_invisible_man
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    I just started an Accounting internship at a small company and most of what I do is submit journal entries and enter in invoices and reconcile amex. Is that normal? Is that what most accounting interns do if they're not in public?

    Posted: 27 Apr 2019 09:18 AM PDT

    I hate accounting

    Posted: 27 Apr 2019 02:20 PM PDT

    It turns out after 4 years of school and a year of working in casino accounting I absolutely hate it. The debits the credits the Hours all of it. Also I'm a pretty awful accountant. What can I do with an accounting degree that ISNT ACCOUNTING?! Or should I just suck it up and keep going? Any advice would be appreciated

    submitted by /u/Carllou
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    How good/bad are book-keepers and accountants that you work with?

    Posted: 27 Apr 2019 04:04 PM PDT

    TLDR: I've worked with many incompetent folks in "Accounting" in several companies and I'm wondering why.

    This is not meant to be disrespectful or offensive to the Accounting field and people here...it's a sincere question. I've worked with many different types of professionals in my career, including HR, IT, Public Health, Healthcare/Clinicians, Data Scientists/Statisticians, Marketing/Comm Specialists, etc. Those in the Accounting field at companies that I've worked at tend to be some of the most unreliable and incompetent people. As a long-time manager, most financials that I get are just obviously wrong and it takes about 60 seconds to find a major error. The people doing the invoicing/book-keeping/accounting ultimately go "oh, yeah that's a problem" and then find something to fix. Also, I feel like I'm constantly explaining the basic concepts of accrual accounting, or asking why they did 19 invoices this month to our clients instead of 20 like every previous month. I've had people create invoices, get them approved, and then never send them to clients. I've had people reconcile contracts and say we're all paid up, only to get paid the next week for an outstanding invoice. I've can't figure out whether it's laziness, incompetence, lying, or a combination? Over my career I've probably had to fire (directly or indirectly) 50% of the accounting staff that have worked with my firm/division/organization. Question: Is poor performance the norm across the Accounting industry or have I just been "unlucky" in companies that I've worked at?

    submitted by /u/FreeWillyWonkka
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    Have to make a prompt selection in Financial Services (Assurance). What are the differences between Private and Public clients?

    Posted: 27 Apr 2019 07:10 PM PDT

    Say the difference between working for a publicly traded Asset Manager like Blackrock and a Private Equity Fund in terms of work-life balance, day-to-day documents and procedures, and exit ops.

    submitted by /u/Tomatobasil100
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    Cute Seniors that got fast-tracked to management after key "appointments" with Partners

    Posted: 27 Apr 2019 10:24 AM PDT

    Thinking of starting an accounting meetup in my city. Closest thing I could find was tech/finance. Thought it’d be a fun social thing. What do you guys think?

    Posted: 27 Apr 2019 03:07 PM PDT

    Two Questions from a student

    Posted: 27 Apr 2019 09:56 AM PDT

    I apologize if my formatting is horrible because I'm on mobile.

    1. I'm sure this question has been answered before but I didn't really get the answers I was looking for when I searched. I was recently invited to my first summer leadership program and I'm not really sure how I need to prepare. As far as I know, it's fairly standard and we have interviews for internships on the second day. What do I need to wear and what do I need to bring?

    2. I'm working on a case assignment for an audit class and it's basically an audit of a private company and the firm found out that they had misstated their inventory during previous years when they were being audited by a different firm. The client wants to adjust the inventory over a multiple years. I can't find any information about correcting a misstatement over multiple years and I don't know if it's even a thing so I was hoping someone could point me in the direction of some information about this kind of situation

    Thanks in advance

    submitted by /u/bananabreadatwork7
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    SOS. My study group is lost on this problem. How do we get the effective/market rate to calculate the market/effective interest to do the amortization schedule?

    Posted: 27 Apr 2019 06:01 PM PDT

    Hey guys ,can anyone give me brief definition of what trasfer pricing is?

    Posted: 27 Apr 2019 09:01 AM PDT

    I googled it but most of them just give one word definitions :/

    submitted by /u/vmathew_99
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