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    Accounting We all know that one client

    April 22, 2019

    Accounting We all know that one client

    We all know that one client

    Posted: 22 Apr 2019 04:50 PM PDT

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    Posted: 22 Apr 2019 05:09 PM PDT

    Big 4 National Signing Day? “I’m happy to announce...”

    Posted: 22 Apr 2019 06:25 PM PDT

    When did it become a thing to post on LinkedIn about accepting an offer as if you're signing a pro sports contract or signing a letter of intent for a Division 1 NCAA program? You know the posts:

    "I am excited to announce I have officially accepted an internship with Big 4 firm. I will be interning in the Risk Assurance service line."

    You poor, naive, souls.

    submitted by /u/prostcfc
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    Document titles

    Posted: 22 Apr 2019 06:45 AM PDT

    To you cheaters: Kindly go fuck yourself

    Posted: 22 Apr 2019 07:15 PM PDT

    So tonight I got to my class, anxiously awaiting the results from my Advanced Accounting midterm. I get to class and there are nametags at every table with everyone's names on them. We have assigned seats now, cool whatever I thought. Then, the professor walks into class and she is pissed. As class starts, she is practically yelling at the class about how there were many students who cheated last week. She spends about 15 minutes berating the class about cheating, ethics, and whatever the fuck and finally stops yelling. Then she pulls out the stack of papers that I assumed were our exams - they weren't. They were a second fucking midterm. But it wasn't a similar level, no. She decided that she would give us a midterm that was about five times as long as last week's. So I just spent 3 hours retaking a midterm that I didn't cheat on because a few others in my class decided too.

    submitted by /u/Throwaway7371515
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    incompetent CPA fuck-up

    Posted: 22 Apr 2019 03:18 PM PDT

    Hey accountants, incompetent CPA here. Today I sent some financial statements to the wrong property manager. If she looks at them (and I think she will), she will see she's being paid $800/mo less than the person whose FS she got. I feel like my job just shifted into "on the line." Comments?

    submitted by /u/living_a_lie_222
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    If a large firm gets caught in a scandal and goes under, how hard is it for the employees to find work at other places?

    Posted: 22 Apr 2019 03:08 PM PDT

    For example, when Arthur Andersen got got, was it a bad thing to have their name on your resume? Or did that not matter because only a select group from that firm was responsible for their downfall?

    submitted by /u/jeffreysusan
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    Interned at firm for 1 year and office managing partner called me into his office today and told me straight up he isn't giving me an offer

    Posted: 22 Apr 2019 08:20 PM PDT

    Have a great summer everyone

    PS last Friday a senior told me they had the review meeting and everyone liked me and I should expect an offer this week.

    Some kind of sick late April fools joke?

    submitted by /u/Flvr_blstd_gldfsh
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    Have you ever had a manager or partner confront you for your billable hours being too high? If so how did you handle it?

    Posted: 22 Apr 2019 04:41 PM PDT

    Looking for accountants to interview for a podcast

    Posted: 22 Apr 2019 08:58 PM PDT

    ​

    I'm starting a podcast with the theme of how we can achieve success in our different careers and lifestyles and the various challenges and fears that we have to push through.

    I'm looking for people to interview who are somewhat introspective and passionate about the process of achieving success. I'd want to talk about your personal story of your career and would also like to get into how the insights you obtained and lessons you learned would apply to others following a similar path.

    As far as types of careers/projects/lifestyles, I'm open to talking to anyone and everyone. The main piece of importance for me is that you're interested/passionate/knowledgeable about whatever area you work in, and are interested in having a conversation about it.

    I'd appreciate anyone here interested in talking with me. If anyone has ideas of different communities to find the types of people I'm looking for, that would also be great.

    Thanks!

    submitted by /u/structureofsuccess
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    Can’t decide how to fulfill CPA requirements

    Posted: 22 Apr 2019 08:31 PM PDT

    Hey everyone! I hope y'all don't mind this question (seeing as this sub is mostly memes lmao), but I'm thinking of getting my CPA , only thing is I was a finance major in school (but I work in tax now so that's why I'm considering). Would getting a full masters be worth it or will just mixing and matching (community college and non degree courses) be sufficient? My state also says for requirements "You must earn 150 semester hours and at least a bachelor's degree, and take one of the following accounting concentrations" (30 undergrad accounting hours or 20 grad, or a mix) that doesn't mean accounting majors only in your opinion, does it?

    Edit: I'm pretty sure I meet all the side requirements for my state (i.e. stats, econ, ethics, business), but I only have 9 out of 30 "accounting concentration hours" from undergrad required for my state. I graduated with close to 150 credit hours, they just mostly aren't accounting though.

    submitted by /u/thegirlofdetails
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    B4 Etiquette advice: Applying for a new job internally

    Posted: 22 Apr 2019 08:19 PM PDT

    So I had a conversation with my career coach last week, telling him I want to relocate (same service line). He said he'll have a conversation with the partner and let me know what he thought. Essentially, the verdict was that the partner wasn't ready to let me leave this FY, but was open to doing it "maybe next year." I was wondering if I can apply for the position internally (it's available in my city of choice) despite the partner saying he'd prefer I moved next year. I'm not sure what the etiquette is around this as I don't want to burn bridges and piss people off unnecessarily, but I don't want to push off the move any longer. Ideally, I wanna move this FY. Is it recommended I inform the partner and HR that I'm going ahead to apply for the position? Or do I apply and just inform HR, or just apply and see what happens? I'm a first year in Assurance for further context. Happy to provide further context if needed.

    submitted by /u/nthrowawaywego
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    I made a playlist Soul Study Rap - A collection of chill Rnb/Rap that I love using in the office. Suggestions welcome!

    Posted: 22 Apr 2019 09:11 AM PDT

    I am a huge music fan so I made a playlist last year that randomly went up to 100+ followers. Ever since, I have taken the curation more seriously and been having a great time finding new music. I try to go out of my way to find lowkey artists that are on the come up and put some spotlight on them. Feel free to send me smaller artists too that fit this vibe, and check out the playlist if you want to see some lesser known talent!

    It's a mix of chill rap with some more upbeat RnB. I always felt like the study playlists I followed made me sleepy or just didn't fit my study vibe so I tried my hand at it.

    Link: https://open.spotify.com/user/bartekbucher/playlist/48doQDjoumMVif5KMR5cOS?si=o7tAVx63Sm-CIk9bhYzvnw.

    Would love to hear what you guy listen to while studying/relaxing. I love discovering new music. Thanks!

    submitted by /u/H20isLean
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    How much should I ask for intern wage?

    Posted: 22 Apr 2019 07:30 PM PDT

    I have an internship this summer and I got asked "what's a solid hourly wage for an intern?" I really have no idea what to suggest so I was wondering if anyone could offer some advice.

    Here's some of the info I have that I think could be relevant, sorry if it's too much/unnecessary:

    1) The basic job description he gave is "We are still on Quickbooks and we have four legal entities. We need to merge two entities and open a new company file in Quickbooks and on of our companies has outgrown their company file and we need to start a new one. We also need a new chart of accounts built and implemented, because the current one is not aligned with GAAP. We'd need to transfer customer and vendor data to the new files." He then said if I finished that he would have other work for me

    2) It's in Missouri, but not a big city. Although they sell their product nationally.

    3) The firm is pretty small, just under 100 employees and not publicly traded.

    4) Their revenues are around $20m.

    5) I am just now finishing up my 4th year of a 5 year program.

    6) I have a pretty good relationship with the person hiring me already and he's highly confident in my abilities. Whether he should be that confident or not I couldn't tell you haha

    7) The location is about an hour and a half drive from where I live so he said they would offer a stipend on top of wage for gas or living arrangements. I haven't really been informed of how much this would be so it kind of makes the wage determination difficult.

    Any help would be appreciated!

    submitted by /u/J_Tuck
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    Working at small cpa firm from Fortune 500

    Posted: 22 Apr 2019 07:30 PM PDT

    Has anyone made this jump? I have an interview for a small firm (I'd be the third cpa). Curious if anyone has made this move and how it worked out? Are you happier? Better work life balance? Was salary similar?

    Also, any tips on selling Fortune 500 accounting skills and translating those to the small firm?

    submitted by /u/Jarvis03
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    Grant Thornton Office Visit in Calgary

    Posted: 22 Apr 2019 07:09 PM PDT

    Has anyone done the office visit with Grant Thornton before, and/or know what to expect? Thanks guys

    submitted by /u/Flamesfan95
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    What can I do to add value during the off-season?

    Posted: 22 Apr 2019 07:59 AM PDT

    Question posed more toward my colleagues in tax accounting.

    ​

    It's currently off-season, and I don't have a lot to do.. It seems normal to have very little billable time during this period. I read, take notes all that stuff, but I feel like I am not 'earning my pay'.

    ​

    I feel others have been in this spot before, what do you to add maximum value to yourself & the firm you are at to assure you are not being unproductive?

    submitted by /u/McMoof
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    Job promotion? - More $$$ but longer commute?

    Posted: 22 Apr 2019 12:14 PM PDT

    Hi!

    ​

    Current situation - 85K salary (senior financial auditor), work from home 1-3 times per week, large company (fortune 25), 30 min commute, love my job

    ​

    recruiter reached out to me with position -

    Audit manager - 105K salary (+9% bonus), work from home 1 per week, smaller company (like $3 billion), commute is 1 hour 30 min.

    ​

    ​

    Your thoughts?

    ​

    - Moving is a tough option because I just bought this house. Maybe I can negotiate 2 WFH days.

    submitted by /u/furqan2
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    I'm considering switching my major to accounting. Is there anything you wish you knew about the job before you started pursuing it?

    Posted: 22 Apr 2019 03:40 PM PDT

    Should I decline a full-time offer if I hated my internship?

    Posted: 22 Apr 2019 03:28 PM PDT

    I recently completed an internship at a national public accounting firm. It was a horrible experience overall; I simply couldn't deal with the stress and the hours. My mental health declined immensely and I wanted it to just be over every day. I assume that public accounting "isn't for me".

    I received an offer for a full time position that pays around 55k. That is more money than I ever imagined making out of college and higher than many other accounting positions available. I personally don't care much about money, but I'm afraid to turn down the "opportunity". I don't really pay any bills so I'm afraid that I don't understand the value of money or how much is needed to live comfortably.

    I'm thinking about applying for government positions. Is this realistic straight out of college? I'm going into my senior year in the fall. Honestly, I have no idea what the right decision is for me. I value work life balance above all, but I'm afraid that I'll never "progress" in my career without public accounting experience.

    Basically, I hated my experience in public accounting but I'm wondering if I should stick it out for better future opportunities, or jump straight into government.

    Any and all advice appreciated. Thanks!

    submitted by /u/Tdtibliibid26
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    Is Big 4 better in terms of working condition in Canada?

    Posted: 22 Apr 2019 08:55 PM PDT

    I know the pay sucks but how about working condition?

    ​

    I'm asking because all the TAs and overachieving 4th years who began their big 4 job after my first year are still working and haven't left. I thought the majority of people left big 4 after their second year?

    submitted by /u/RetroCPA
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    Taking a job for only six months

    Posted: 22 Apr 2019 12:09 PM PDT

    I have an opportunity to transition into a state auditor position, something I think sounds pretty cool. It starts towards the end of May if I accept. The problem is I'm moving states at the end of the year, my wife and I have already cemented those plans.

    Is it worth it to take the job and learn a little about government audit and have that on my resume when I move? I figure six months is long enough to get through 1 full audit. I wonder if it's even worth it though, as I would have to explain away the short time there(probably not too hard considering I'm moving cross country), and if it even helps me that much when applying for govt jobs in new state.

    I really cant stand where I'm at now and dont know if I have another 7 months in me here.

    What do now?

    submitted by /u/BurtMacklinFBI__
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    Question regarding new lease standards.

    Posted: 22 Apr 2019 08:28 PM PDT

    I was working on a question in Becker in which Lessor leases equipment to Lessee under a sales-type lease and the question asks what amount of interest revenue the Lessor records during the first year. I'm confused because I thought that under the new standards when the Lessor records a sales-type lease, Interest revenue isn't recorded and instead you just record a gain. Even in the Becker lectures there are no examples of Lessors recording interest revenue when the lease is classified as a sales-type lease and only when it's a direct financing lease.

    submitted by /u/StudentCPA
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