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    Accounting Pretty much.

    April 21, 2019

    Accounting Pretty much.

    Pretty much.

    Posted: 21 Apr 2019 02:41 PM PDT

    Best,

    Posted: 21 Apr 2019 05:11 AM PDT

    If only...

    Posted: 21 Apr 2019 06:48 AM PDT

    Sir do you know why I pulled you over?

    Posted: 21 Apr 2019 11:27 AM PDT

    When the manager stops by for a status update

    Posted: 21 Apr 2019 06:59 PM PDT

    Starting my first real accountant position after a year out of college. Feeling nervous.

    Posted: 21 Apr 2019 04:59 PM PDT

    It's been a rough road, but I finally got out of AP temp and got hired on as a GL accountant making 45k. Not really sure if that's considered a staff accountant role. I'm excited to finally be getting a real income/career path, but nervous that it's been so long since college and that I'll have forgotten a lot. It's like that nightmare where the teacher asks basic questions and you don't have the answer. How can I best make sure that I'm going to be successful?

    submitted by /u/TheOneWhoMurlocs
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    When the intern is finally participating in planning discussions

    Posted: 20 Apr 2019 11:03 PM PDT

    Apparently there is now an Accounting Game in Steam...for the mad men among us.

    Posted: 21 Apr 2019 04:12 PM PDT

    I quit public accounting after 3 years

    Posted: 21 Apr 2019 08:52 AM PDT

    It was scary and out of my element but I'm already so happy about what's to come and my decision. I left knowing I wouldn't get my bonus and I wasn't far from promotion... but I was ABSOLUTELY miserable for way too long... it started to affect my happiness outside of work.

    submitted by /u/flg9597
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    Would you advise against taking Intermediate 1 online?

    Posted: 21 Apr 2019 03:11 PM PDT

    I can't really fit it into my schedule as a physical class, and I need to take it asap, because pretty everything else in the accounting major requires it as a prerequisite.

    submitted by /u/Savsavsav999
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    Is receiving a poor performance review a sign from your employer that they want you to leave [Big4]?

    Posted: 21 Apr 2019 09:44 PM PDT

    Got back my first performance review last week and I've been ranked half a level above the absolute worst tier. I was wholly unprepared to start the job because I wasn't expecting to switch jobs so soon- i started two weeks after I got the offer and have had a lot of personal issues.

    I received recommendations to improve (ex: writing down every single question/meeting I have with my team members).

    Do you think it's a sign they want me to leave? I know I'm walking on thin ice. I've been trying my best given my personal issues. I'm determined to try harder.

    submitted by /u/carriebradshaws
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    Does anyone know if Maryland takes FEMA credits for the 150 requirement ?

    Posted: 21 Apr 2019 05:09 PM PDT

    I’m a a crossroads to study for the gmat to go on to Business school and get my MBA or to study for the CPA exam and take the dive into an accounting career.

    Posted: 21 Apr 2019 04:45 PM PDT

    Was an accounting undergrad major. Was a late bloomer by about 4 years /was almost 26, worked full time in an insurance office while completing undergrad.

    Started my degree at 19 thinking I would want to become an accountant. Before my horizons began to broaden and I learned about the bulk of many corporate/industry positions, it seemed a really logical route to go to have the best business acumen coming out of undergrad and I was too far in the game to make the switch credit wise to some other major or degree.

    Since then I've considered corporate finance, consulting, and other generic analyst roles, many of which an MBA with recruiting would exponentially help.

    Truth be told, I wish I never came to this sub. It makes it sound like being an accountant is terrible. Like mind boggling death and despair terrible. That's not my personality or what I put myself through school for. There's more to life than that. Maybe this sub just jokes a lot, I don't know. Soon I need to crack down and start studying for one of the two tests and to follow one of the paths. Obviously this sub has a lot more accountants and CPAs than MBAs and the roles I listed above but I figured it's a good starting point to get some honest answers.

    How do you feel about your careers in accounting? Not bad? Alright? Bad? You can only learn so much in school and I know the reality of being on the job can be quite different and I also know some of it depends on the company you work for and office culture, but broadly speaking, what advice can you give me? Thanks

    submitted by /u/LeSwagDaddy
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    Rescinding Big 4 Internship Offer

    Posted: 21 Apr 2019 08:28 PM PDT

    Hi everyone,

    I was offered an internship at a Big 4 firm for next summer. The thing is that I might get 2-3 C's this semester in non-accounting classes they are upper division business classes. I expect my cumulative GPA to fall to around 3.4 territory. Is this enough to get my big 4 offer pulled (I haven't accepted yet)? Am I better off accepting the offer from a national firm assuming that the national firm will be less likely to pull my offer? I'm afraid to decline my other offers, accept the big 4 offer then have it pulled and be left with nothing. Any advice is greatly appreciated!

    submitted by /u/Throwaway512648
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    [Question] If a company (company A) invested in another company (company B), does company B's financial statements have to be audited for company A's audit?

    Posted: 21 Apr 2019 02:28 PM PDT

    The investment in Company B would show up as an asset for Company A right? So would the financial statements of company B have to be looked at if company A is being audited?

    Thank you!!

    submitted by /u/Lmns14
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    (Canada) Looking for advice; returning to university for Canadian CPA designation

    Posted: 21 Apr 2019 08:25 PM PDT

    I am planning to go back to university to get a certificate in accounting in order to meet prerequisites for the CPA PEP, specifically the undergraduate "Certificate in Professional Accounting" at York University.

    ​

    I am a bit worried that the certificate will put me at a disadvantage when I need to start getting my 3 years of practical experience.

    ​

    Can anyone weigh in on the certificate and if it's a good path towards getting my CPA designation? Will I be able to get hired and get the practical experience I need?

    ​

    Feel free to PM me as well if you prefer it over commenting.

    ​

    Thanks everyone.

    submitted by /u/siphur
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    Resume Question

    Posted: 21 Apr 2019 07:15 PM PDT

    When you're somewhat recent out of college but have only been in one job, what experience do you include on your resume? I assume no college clubs, but would you add internships? Would they even be relevant? Feel like I'm trying to fit the mold of applying from college but that I would like to add significantly more info about my current job than any prior position. Thanks for any input

    submitted by /u/logitechmouse101
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    Quick Question!

    Posted: 21 Apr 2019 06:40 PM PDT

    Hello, i'm a student in need of an answer. If there is a lack of internal controls specific to IT, does that have to be reported in the company's financial statements. Lets say the company is public and the lack of internal control is a security issue that doesn't affect the financial statements?

    This is for a presentation for my auditing class, I want to get my facts straight. Thank you!

    submitted by /u/MoosinIt
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    Changing careers from public accounting to another industry?

    Posted: 21 Apr 2019 06:31 PM PDT

    Has anyone made a major career change from public accounting to another industry? I'm a staff/associate at one of the Big4 and recently got a less than stellar performance review, and I haven't passed any parts of the CPA exam (two 68s on BEC and a 34 on FAR). I'm getting frustrated and discouraged, and I'm beginning to rethink my career path.

    I'm currently in assurance and audit financial statements for a well known technology company. I like most of the people on my team, but there are a few people who are workaholics with no significant other, kids, or hobbies, and expect everyone to keep pace with them (ie working longer hours when it's not necessary, doing optional trainings on the weekend, working through lunch, etc.) They're the type who take pride in being the last people to leave the audit room at the end of the day. As you can imagine, it's miserable.

    I was never passionate about accounting, but stuck with it though college because it was a solid career, and I knew I could do it no matter where I lived in the world. However, after working in public accounting for nine months including one busy season, I'm looking to explore other options. Right now I've been casually looking into what it takes to become an electrician, but I'm curious to hear if anyone else has made any major career changes after starting in public accounting.

    submitted by /u/PresentFarmer9
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    Decided to abandon the exam (CA module), is it okay?

    Posted: 21 Apr 2019 06:09 PM PDT

    After spending the Easter weekend studying for the exam this week, I realised I didn't have enough time left given I still had loads of work to catch up (couldn't stick to their study plan during the trimester).

    So instead of torturing myself trying to go through all those contents with an absolutely high chance of failing, I decided to give up this module, and spend the remaining time preparing for my work (pretty behind schedule) and future modules instead .

    It feels really shitty as this is my first module (also the hardest technical one according to others' comments) yet I didn't plan it properly. When I told my wife about it I could see her being disheartened in her eyes.

    Has anyone else ever done this?

    Just a rant from someone who wasted their whole Easter weekend time for nothing.

    submitted by /u/thefailedca
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    CSULB vs UCSC

    Posted: 21 Apr 2019 05:40 PM PDT

    Which school has better recruiting, specifically for B4?

    submitted by /u/lord011
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    kpmg student benefits?

    Posted: 21 Apr 2019 05:36 PM PDT

    i know there's the lifestyle spending account, but what else is there?

    just curious

    mention ur location please too

    submitted by /u/onelamenub
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    Questions for recent CPAs from CA non-trad

    Posted: 21 Apr 2019 05:22 PM PDT

    Background:

    • I am currently waitlisted for med school (I'm not hopeful & I am not going to reapply) so I'm no stranger to studying, self-teaching and lengthy examinations.
    • I work at a mid-sized company in the accounting department and I actually enjoy it & want to learn more except opportunities to learn more via hands-on training come in random waves, also I want to be certified.

    Questions:

    • I didn't see a cut-off amount of years since a pre-req class was taken on the CPA pre-req list (e.g., course taken more than 5 years ago do not count). Can someone attest to that?
    • For the MCAT is was important to have a strong understanding of core principles and excellent reasoning skills so selecting good study materials & taking practice exams was more important than old courses you took. Is this similar for the CPA exam? And if so what is considered the holy grail of studying materials for the CPA exam?
    • Am I interpreting this PDF correctly https://www.dca.ca.gov/cba/applicants/tip_sheet.pdf? 150 units from this list are to be completed with at least 24 units coming from accounting, 24 from business, 10 from ethics and 20 from the account subjects listed?
    • If the above interpretation was correct assuming there's 72 remaining units (I might actually have some courses that can count) what topics are recommended to go deeper into? Should remaining courses be more focused on what I think will be helpful for what kind of career I want to pursue, or are some of the courses extremely helpful for the CPA exam?

    ​

    Interested in how other people from CA became CPAs that didn't immediately start out on that path. Also, if anyone has a forum to share that's centered around becoming a CPA I would appreciate the link. Thank you!

    submitted by /u/ShovelSkunk
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    Cumulative partially participating preferred shares

    Posted: 21 Apr 2019 05:16 PM PDT

    Hi friends, I'm trying to figure out how partially participating shares work. I understand how fully participating work and me being the smart and wonderful student that I am probably said oh that's easy and didn't take notes and now it's not so easy.

    From what I'm reading, partially participating shares are only allocated dividends up to a certain point. I've got an example, in this case a cumulative participating dividend to 12% total.

    The dividend paid for the year is $204,000 with 40000 no par value preferred shares that pay a $0.80 dividend and have equity of $400,000.

    There are 60,000 common shares outstanding with no par value and equity of $600,000. All shares when sold were sold @ $10/share.

    It's now 2021 Y/E and dividends were not paid in either 2019 or 2020.

    The way I did it was I took my preferred shares that pay 32,000 a year and figured they will pay 96,000 in the current year as a base.

    Then I assigned 48000 to common shares based on equity/prorating. Leaving us with 60,000 dividends remaining. I took the 12% participation and applied that to the preferred shares and allocated the remainder to common shares.

    I got it wrong and when we were reviewing the question I feel like I remember hearing something that participating shares if partial, only get up to the participating amount, in this case would the preferred shares only receive 12% of the 204,000 or 24,480?

    I'm not really sure how to figure this one out and the book is lacklustre in helping or I'm just completely missing the topic.

    submitted by /u/Lattes1
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