Accounting Working for 3 years now, and after recent posts... |
- Working for 3 years now, and after recent posts...
- 30 yrs old, 10 yrs military experience, 2 kids, graduating with a 4.0 undergrad in accountancy (150+ semester hrs), and I can’t find a big 4 firm willing to pick me up without my masters.
- A little positivity
- What average age do most people get their CPA?
- FEMA credits in Washington state?
- Is 70k starting salary for tax associate at big four in NYC on the higher end, average, or low?
- Start full time in November, other than CPA exam what should I be focusing on?
- Cross Border taxes/accounting
- Holy shit this is gold
- I want to get a masters
- Why can't accounting be automated?
- Taking an internship after graduation
- Accounting Colleges
- Help! I need advice - should I stay or should I go? (Public to Industry/Govt)
- Any federal auditors here?
- Lease Accounting Journal Entry Question
- Drop my finance major?
- Bentley vs Pittsburgh vs differed York MSA
- I’m tired of customer service. Would accounting fit me?
- um, help me please
- Looking to potentially go into Accounting and asking for specific advice on my situation.
- Getting a part time job(Job Search)
| Working for 3 years now, and after recent posts... Posted: 28 Apr 2019 10:58 AM PDT
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| Posted: 28 Apr 2019 05:00 PM PDT I plan to start sitting for the CPA this summer and I just finished my first internship at a local tax firm during busy season. I really really really don't want to do the masters program (granted it's 100% free in my case). We own a house and my kids share a room (boy/girl), but my daughter starts middle school soon and she really needs her own room. We really really need a new house, but we can't just buy or rent a house for a year, especially since we're looking to move to a bigger city when I get my big boy job. My kids can't even play outside because we live off of a 55 mph street. It blows. I've been dedicating the last two years of my life doing my absolute best in collegiate studies, but I'm ready to be done. I'm burnt out and ready to make more than $14/hr. I've been doing everything perfectly: LinkedIn, networking, hell my mentor is a retired partner at a big 4, etc. But the big firms only want masters students or CPA's with experience. Should I waste my time trying to get big 4? I don't want to sell myself short, but I don't mind going into industry if it'll be worth it salary-wise. Advice? Thanks in advance. [link] [comments]  | ||
| Posted: 28 Apr 2019 09:00 AM PDT It's frequently talked about how negative this sub is. While that's an inevitable consequence of accounting, how about a little balance? What's going well for you? Work or otherwise, big or small. [link] [comments]  | ||
| What average age do most people get their CPA? Posted: 28 Apr 2019 11:57 AM PDT | ||
| FEMA credits in Washington state? Posted: 28 Apr 2019 05:09 PM PDT Has anyone used FEMA to get to 150 credits in Washington? [link] [comments]  | ||
| Is 70k starting salary for tax associate at big four in NYC on the higher end, average, or low? Posted: 28 Apr 2019 06:36 AM PDT | ||
| Start full time in November, other than CPA exam what should I be focusing on? Posted: 28 Apr 2019 04:39 PM PDT I start a full time job as a staff accountant at a mid sized CPA firm in November, and I am currently studying for FAR. I was wondering what other skills I should learn in the next 6 months or so in terms of excel or other software that would be helpful to know before starting full time? Pretty much I'm looking for things that new staff accounts wish they would have learned before they started vs learning on the fly at work. Thanks [link] [comments]  | ||
| Posted: 28 Apr 2019 05:42 PM PDT I posted something similar in a different subreddit so my apologies if you've seen it. I am currently a 19 year old Canadian but am a dual citizen of the U.S as well. Last November I tried investing in Tangerine non-registered Investment Funds (mutual funds) and realized I got myself into a huge mess, because now I think I have to file form 8621, the FBAR, and I don't even know what. If anyone could help me out a little bit that'd be great because I'm a college student and I really don't have the money that cross-border accountants want (almost 2.5k!) so I'm trying real hard to do this myself. The investment fund/mutual fund was purchased for about $2500. I received a distribution (i guess) in December but it went right back into my mutual fund/units so I didn't receive any cash. The fund is 33% canadian 33% U.S and 33% world wide. Now, do I just file ONE form 8621 for Tangerine, or do I need to find each and every company that THEY invested in and file a PFIC for each one? Additionally, do I do the QEF election? Not entirely sure how that works. The account has gone up to $2800 since i created it, but I have not withdrawn/sold anything yet because I'm scared to. I'm thinking about just getting it all out and then never touching a mutual fund again but I don't know. Aside from this and the FBAR, what else do I need to file? And should I be filing my U.S taxes before my Canadian ones or does it not matter? I also won't be paying taxes as I have tuiton tax credits that cover my taxes, how will this transfer over to my U.S taxes? I'm really lost right now so ANYTHING is helpful. Thanks! [link] [comments]  | ||
| Posted: 28 Apr 2019 12:34 AM PDT
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| Posted: 28 Apr 2019 08:44 PM PDT I fudged up my bachelors due to my "elite" school messing up my credits and processing my graduation. Anyways, I want to major in accounting, I graduate in two weeks and was wondering if you guys had some insight. Was it hard? What do you like? Is there a lot of math involved? I know it won't be easy but it is something I like. [link] [comments]  | ||
| Why can't accounting be automated? Posted: 28 Apr 2019 08:41 PM PDT I am not an accountant, but I am wondering what are the biggest hurdles to automating the tasks performed by accountants, and other jobs in finance and auditing. All jobs can be distilled down to a series of decisions based on a set of conditions (if annual income > x, set tax rate to y%), and given the outcome of the decision a certain course of action is taken such as making another decision. You can visualize this with a flowchart. So, with that in mind what tasks do accountants do that would be the most difficult or near impossible to completely automate? Also given that accountants interface with computers and most of the stuff they work with is digitized it streamlines the whole process of automating accounting work. [link] [comments]  | ||
| Taking an internship after graduation Posted: 28 Apr 2019 09:29 AM PDT I graduate in the spring of 2020 and I have no summer internship lined up. I didn't really take anything seriously until now.. It seems most firms are only interested in hiring someone with internship experience, is this going to be difficult for me to find a job? It doesn't have to be big4. My question is, should I take an internship directly after graduation? Or do you think I would be able to get a decent job without an internship. [link] [comments]  | ||
| Posted: 28 Apr 2019 03:57 PM PDT Does anyone have any suggestions as to good accounting colleges. Preferably in the Midwest since that's where I live now (Wisconsin), or if further away then I'd prefer that it has cheaper out of state tuition or merit aid. Thanks [link] [comments]  | ||
| Help! I need advice - should I stay or should I go? (Public to Industry/Govt) Posted: 28 Apr 2019 07:16 PM PDT Recently I've gone through some soul searching with whether or not I should stay in public accounting or should I try something different. I've been working in public accounting full time for 5 years (1.5 at one firm, 3.5 at my current place). I am a CPA (2 years post-designation) and I am almost of the level of making manager. I work in an American city of about 400,000 and I live about 35 minutes from the office by car. I gross about $43,500. I have the feeling that I am underpaid considering I am 2 years post-CPA designation. Now, some context of the firm that I currently work at, it's a one office 50 people firm (quite a few people in the age range of 20-40 which is nice because there are people around my age). We do anything from a Notice-To-Reader to an Audit to personal/corporate tax returns. For the environment of the firm, imagine if jocks/bros were accountants, that's the sort of environment that it is (at least the guys are definitely jocks - talking about sports 95% of the time). There's a boy's club in the office but just because I am a boy doesn't make me a part of their club. I do want to desperately be a part of the boy's club but I'm not sure if I ever will. A bunch of my co-workers and I did a weekend to a local ski place which was nice but I don't think I really added anything special other than being there. I've been trying to get better at golf since most of the guys and 90% of the partners are members at the local country club (but I am in no financial position to ever afford a membership). I invited people from the office to my wedding as like a sign of my friendship to them but the relationships haven't grown at all since then. Actually, the youngest partner called me "a fucking pussy" a few months after the wedding just because I said I missed my wife while she was gone on a business trip. Granted, he's a little rough around the edges but that isn't what a partner should ever say to an employee (especially up until that moment, I had looked up to him and had him at my wedding). One of the things that bothers me the most is that they are inconsistent in their attitudes toward me. I mean, individually, they are all fine and dandy but when there's more people around, they all can aggressively tease me at times (and others). They are the sort of people that make fun of anything that's different and they are willing to make a joke at my or someone else's expense if it makes other people laugh. This environment is created at the point by some of the partners. For me, it can be really frustrating when someone that you think you have a reasonable relationship with, makes fun of me in the presence of others. If you're a jerk to me, fine. If you're nice to me, that's also fine. But at least be consistent about it. I know that co-workers aren't your friends, they are just people who work at the same place you do. But it would be nice if they were. Part of me also wants to leave is that I hate how public accounting can be a bit of a shark tank in terms of billing hours and how it's important to get the most (or at least close to it) and it's a constant struggle. Especially with tax season/doing tax returns and how much overtime is put in with not much benefit to me. I know that it's only a few months and then it's easier after that. But to get there can be brutal. My newly-wed wife has commented that at her local college job, every overtime hour that she works, she gets an hour in-lieu. I laughed in her face when she asked why wasn't public accounting the same. My wife and I do not have any kids yet but we plan for some in the future. She has suggested in the past that I could apply there. On the surface, it might be a good idea. Higher pay, less working hours, benefits, less stressful environment (in theory). The only question is if I would be bored working there after a while. With Public Accounting, I will say that I am getting bored of Notice-To-Reader/Compilation Engagements and I find running Audits to be very stressful sometimes. The problem with looking at other jobs is that I have this crippling doubt of if I will be able to perform in another job. It seems silly but I have historically struggled with self-confidence at work but it's gotten better as I work more. I've been in the workplace of public accounting since 2009 (with internships at various firms, unemployment and now full time employment). Simply put, it's all I've ever known. I'm sure I could get most jobs if I applied for them, assuming they were within my skill set. I was told by a senior manager at my firm who has been in industry before and came back to public accounting: It's not greener on the other side. He cited he's worked in industry and a government institution and they weren't great places to work either. He cited the lack of flexibility in terms of working hours at the other places, the responsibility factor/no one does your work other than you and the office politics being a huge thing which was very annoying. I believe his sincerity but I also know that a lot of my classmates in college went to industry as soon as they got their CPA. I know I've been negative about the firm I work at. There are good people who work there and I do enjoy working with some of them. No job is perfect, there have good days and bad jobs and every job is hard in some way. You jut have to find the one that you can put up with for the rest of your life. Any advice? [link] [comments]  | ||
| Posted: 28 Apr 2019 03:09 PM PDT I eventually want to work as a federal auditor and am very interested in military contract audit. I only have offers for state government (low wage) and public firms (no government clients) at the moment. Which route do you think would be the better starting point? [link] [comments]  | ||
| Lease Accounting Journal Entry Question Posted: 28 Apr 2019 06:48 AM PDT Hi guys I'm trying to understand under ASC842, after the initial day 1 journal entry for a prepaid operating lease, what are the subsequent journal entries when you prepay say another year of rent in advance? So say its a 3 year lease and we are at the start of year 2 and we are prepaying on 1.1.20XX a years worth of rent in advance. Do you Dr Lease Liability and Cr cash? or do you need to Dr ROU Asset and Cr Cash for the prepayment. If it's the latter, and the prepaid portion is added to the ROU asset, then what is the journal entry to reduce the lease liability so its only showing remaining future rent payments? (ie. the lease should only be showing 1 years worth of rent left to pay in the future) thanks in advance! [link] [comments]  | ||
| Posted: 28 Apr 2019 06:26 PM PDT I'm finishing up college next year and am considering dropping my double major and just getting my bachelors in accounting. I want to take some time off to get my cpa exams out of the way before I start working. Dropping finance would give me a whole semester and a month long winter to get it done. I already have an internship locked up, do you guys think the finance major is really that important? My internship is in audit, and I asked to not be in the FS group so I feel like the finance degree isn't really going to be that useful. What do you guys think? [link] [comments]  | ||
| Bentley vs Pittsburgh vs differed York MSA Posted: 28 Apr 2019 01:55 PM PDT On behalf of my friend who can't use reddit My friend has pending admissions to York, Pittsburgh, and Bentley's MSA program She's from China and accepted admission to York, but it looks like her visa won't come in time and to go to York she'll have to defer a whole year. Otherwise she could go to Pittsburgh or Bentley for her MSA, but she's worried about getting a job in the US after she graduates. She heard Canada is easier to get employment after graduation, but she really doesn't want to wait a year to start her program. Does anyone have any suggestions on which of these schools could give her the best chance at employment after getting a masters in accountancy and becoming a CPA? Also she could still apply to William and Mary if that would make a significant difference in opportunities than the other schools. Does anyone have any advise or experience with this that I could pass on? Thank you so much [link] [comments]  | ||
| I’m tired of customer service. Would accounting fit me? Posted: 28 Apr 2019 05:59 AM PDT I hate customer service. I want a desk job. I like routine. I like knowing what I'm doing. I just got my associates and am starting my bachelors in the fall. Considering an accounting program because I don't know what else I would like and accounting seems to fit my interests. What branch of accounting should I look for to guarantee little to no customer service? [link] [comments]  | ||
| Posted: 28 Apr 2019 04:46 PM PDT Hi so I just finished pre-uni/foundation and I'm torn between law and accounting. I took a course that included both these subjects so i got to learn a bit of both and i honestly don't mind with either one at this point (excuse my very indecisive ass). I was also relatively good at both subjects during pre-uni, even to one point my law lecture consulted with me to pursue law and on the other hand I'm quite good in calculation but the thing is that I got a pretty shitty accounting lecturer and besides my pre-uni knowledge in accounting, I barely have none bcs I took up science in high school. But to my surprise I scored a good CGPA to qualify me into both. I know both paths are hard and difficult but after reading a bit more about accounting I'm kinda on the fence bcs of how 'constraining' it can be and I have been doubting my ability at this point as I am going into a LSE degree (and I heard that it is HARD). I just don't know what I'm doing rn and before I go buy more books on accountancy I would love to hear your thoughts on this . Thank youuuu [link] [comments]  | ||
| Looking to potentially go into Accounting and asking for specific advice on my situation. Posted: 28 Apr 2019 04:46 PM PDT Hello All! I am new to this subreddit and looking for some help to point me in the right direction. I got my bachelors degree in Hospitality Management from a top 50 university two years ago and I am really not enjoying working in the industry. That being said, I remember enjoying my accounting/finance classes when completing my degree and am looking into the possibility of entering into this industry/becoming a CPA. I'm currently living in Colorado and I've done the research and found I can obtain eligibility to take the CPA exam by working in the field for a year. Any tips on where I should start or what I should look for? Sorry if this post is not to community standards or is very uninformed. Just looking to switch into an industry that I may enjoy more than my current one. [link] [comments]  | ||
| Getting a part time job(Job Search) Posted: 28 Apr 2019 03:26 PM PDT Laid off a month ago- I am CPA eligible but won't start taking exams until I move to Detroit and settle in my fiancé's house. Was wondering if it would look good for an employer to find part time work to suggest that I am dedicated to bouncing back after a lay-off? I want to rebound as well as possible- I am very close but no official offers yet. My job would be PT bar tending 2 days a week. Thoughts? [link] [comments]  |
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