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    Accounting You don't know man... you weren't there

    April 15, 2019

    Accounting You don't know man... you weren't there

    You don't know man... you weren't there

    Posted: 15 Apr 2019 10:36 AM PDT

    Happy 4/15

    Posted: 15 Apr 2019 01:09 PM PDT

    When it's 4/15 and there's no more urgent work that needs to be completed

    Posted: 15 Apr 2019 06:06 AM PDT

    I got an offer!!!!!

    Posted: 15 Apr 2019 07:09 PM PDT

    So I did a full time internship at a large, national firm earlier than a lot of people do in their schooling (no tax or audit knowledge).

    I was pulled into a partner's office today to tell me they want me back next year as a part timer while I finish school!!!!

    They also said we'd talk about post graduation employment next year. I'm super excited I feel I did really good!

    submitted by /u/HorologyJew
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    Time for this one again...

    Posted: 15 Apr 2019 06:45 AM PDT

    Update: tax auditor gets throat slit on tax day.

    Posted: 15 Apr 2019 05:23 PM PDT

    For those of us rushing to file taxes and making it up as we go

    Posted: 15 Apr 2019 08:50 AM PDT

    Bernie Sanders' tax returns are "self prepared" - was not expecting that

    Posted: 15 Apr 2019 04:59 PM PDT

    So my manager asked me if I like working with my co-workers....

    Posted: 15 Apr 2019 03:38 PM PDT

    Me: smiling "am I supposed to say no?"

    Manager: "Wow, that's a wild response"

    Other Associate:

    I meant it as a joke. Now they probably think I'm a dick lol.

    submitted by /u/blackFriedman
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    Our QBI Slogan

    Posted: 15 Apr 2019 09:12 PM PDT

    Lets fucking go!!! We made it boys!!!

    Posted: 15 Apr 2019 04:27 AM PDT

    No more Saturdays! Working till 5!!!! If your boss tries to make you work past five, slap that sucker

    submitted by /u/Scoobert_Doobert420
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    Did not get offered a full time position after my internship.

    Posted: 15 Apr 2019 02:22 PM PDT

    I had an awful time, cried in the office when the partner told me. There was so much rejection I feel. Me and another intern did not receive offers and I am so confused and hurt as to why. I truly felt like I gave my all to the position. When I asked why this was not the case (which I did multiple times in the exit interview) all he said was that I had made several mistakes several times on the review notes. It just seems like the majority of the masters class receives full time offers from their internships. I have no idea why I did not, no one during the process explained to me that this might be the case. I am so humiliated and embarrassed. Has anyone else had this experience? Is that really the reason they did not accept me? I explained that I had requested feedback part way through the internship and heard nothing from any managers. I just wish that I had known this was going to be detrimental to me getting an offer. Another part time intern who received an offer I have no idea why he did. It seemed like everytime I went to his desk he was watching YouTube or something and turned returns in with outstanding items frequently. can anyone please give me advice/stories of their own? I feel so incredibly depressed rn.

    submitted by /u/poopiepies
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    Hours & Stats 2011-2019

    Posted: 15 Apr 2019 05:14 PM PDT

    ​

    Year Position Total Hours Longest Week Shortest week Average Week # OT Weeks Billable %
    2009 & 2010 Staff - Small Regional Data Unavailable
    2011 Staff - Small Regional 801.25 60.08 40.00 52.88 12 85.9%
    2012 Staff - Local 717.25 63.25 39.75 46.85 8 88.1%
    2013 Senior - Local 777.19 78.67 35.50 50.89 9 83.8%
    2014 Senior - Local 757.61 78.68 29.32 49.60 9 79.3%
    2015 Manager - Local 836.60 86.23 33.35 54.05 13 69.6%
    2016 Manager - Small Regional 879.40 82.50 40.30 57.21 15 65.9%
    2017 Manager - Local 768.80 61.40 34.30 50.25 13 75.9%
    2018 Manager - Local 802.10 65.10 32.30 50.25 12 79.9%
    2019 Manager- Local 849.20 71.00 32.00 56.05 13 80.8%

    It really comes down to how early busy season starts and how bad it ends. The average week across all years only has a standard deviation of 3.25 hours.

    The best seasons don't start until late January, and hours hold steady through the April filing deadline. This year was a little rough with 71 hours March 31-April 6. Lesson learned this year: be more firm with drop-off deadlines.

    submitted by /u/PassiveActivity
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    B4 Background Check Issue

    Posted: 15 Apr 2019 09:23 PM PDT

    Hey all, throwaway. I'm a staff 1 hire straight out of undergrad and I received a written offer from the B4. For the background check I'm very worried. For my most recent work history I put that I formed a financial investing group with my friend for trading equities. We essentially just made a bunch of financial models and forecasts that we used to help ourselves trade but obviously in a very early/beginning stage way.

    The only problem is because it was me and my friend there's no reference for the background check investigation and they're asking for several references for the position. What should I do?

    I know, I'm dumb that I put it as work history because because it should be under hobbies or something but because we made money and put a good amount of time/effort into it I thought it could be treated as work. I hope I'm not screwed because I truly wasn't lying about what we did its just that I put it on the top of my resume instead of the bottom and also that the work won't check out really in the eyes of the background check company. Really don't want to find a new job and have to pay back 3k worth of Becker back.

    submitted by /u/accthrowaway415
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    My Tax Day tradition is to re-watch the Daily Show's Tax skit

    Posted: 15 Apr 2019 05:26 PM PDT

    Cheers to all you tax professionals

    Posted: 15 Apr 2019 05:27 PM PDT

    My boss (the only one in our small accounting office authorized to sign taxes) just left for the day at 5:21pm.

    While I, the bookkeeper, am still here despite coming in before her and not taking a lunch.

    So huge shoutout to those of you breaking your back getting taxes and extensions filed by the end of the day!!

    submitted by /u/hernameistinka
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    New Decision making tool my Finance Controller brought to the office today

    Posted: 15 Apr 2019 06:49 AM PDT

    Every time I open a PBC

    Posted: 15 Apr 2019 09:02 AM PDT

    How do I get back in the CPA game?

    Posted: 15 Apr 2019 07:34 PM PDT

    Hi r/accounting,

    ​

    I attempted to sit for the the CPA exam 3 or 4 years ago and walked away after failing FAR three times (got a 72 the last time I failed it. I'll never forget that question about Asset Retirement Obligations, because I'm certain that was the one that did me in.) It was getting expensive, I was getting tired, and the bottom line was that I didn't have the emotional maturity or stamina to keep at it.

    ​

    Since then, I've managed to score the girl I fell in love with in high school, and our son's nearly two. We've got ourselves decently established, decent rental house in the suburbs, decent jobs - basically, a lot of the growing up I needed to experience. One thing yet remains - the CPA exam. I knew when I walked away that I was just forestalling having to deal with it later, and that time seems to have come. I've come face-to-face with the realization that I've pretty much hit a professional ceiling without being certified. (I'm doing third-party property management now, and while I don't care for it at all, I feel like anywhere else I go would just be starting over somewhere new, only to hit the same cap I'm at now.) Lately I've been feeling like it's either time to get it over with and pass the exam, or resign myself to being a staff accountant forever...and I know damned well I don't want to be a staff accountant forever.

    ​

    So, two questions:

    1. Who's the go-to for CPA prep materials? I know when my sister passed the exam a few years ago, Becker was the biggest name in town. Is that still the case?
    2. When I did this before, I had the mentality that because FAR was likely to be the most difficult section for me, I needed to focus on passing that one first. I'm also very open to the idea now that this kind of thinking was completely and utterly idiotic. What's everyone's experience been regarding test order?

    Sincere apologies to everyone for that wall of text.

    submitted by /u/IFERRORVLOOKUP
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    We're almost done guys.

    Posted: 15 Apr 2019 12:44 AM PDT

    IPO auditing is the worst

    Posted: 15 Apr 2019 08:10 AM PDT

    Auditing 2-3 years of financial, setting a low performance materiality, all kinds of problems within client's financial, staying at client site for 6 months.

    And then the client failed to go public, and you feel like you wasted 6 months of your life there.

    That's not the worst. The worst is no more off season this year due to this IPO shit.

    What are some of your bad IPO audit experience?

    submitted by /u/nalratoss
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    I received a C in Introduction to Accounting. It's a wrap!

    Posted: 15 Apr 2019 09:22 PM PDT

    It's a wrap folks. It's been a good run. I received a C in Introduction to Accounting. I have faced by fate. Oh, why!?

    ​

    I am so fucking mad at myself that I hardly feel any anger. I'm past the point of anger. I did not have enough time to do all of my accounting homework and received a C. I've heard that I won't even be able to get an internship with a C grade in any of my accounting classes. Is this true? Accounting isn't that hard. It is just a lot of information, and takes time. Time that I didn't have.

    submitted by /u/imbetterthanthis789
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    Finished internship, no offer, what next?

    Posted: 15 Apr 2019 02:18 PM PDT

    Sup everyone, happy 4/15...

    Just wanted to hear some opinions on this. Sorry in advance for this wall of text, but feeling pretty shitty, and any advice would be greatly appreciated. I just got word I unfortunately didn't receive an offer after completing my tax internship at a B4 firm in the US. Feeling pretty upset, but I'm ready to get the ball rolling on my next move.

    Here's my situation:

    1. I graduated in December with a bachelors in accounting and I have been taking 2 evening classes at a local college to get my hours. I still need 2 MORE classes, but I already enrolled in 2 LSU online courses to be CPA eligible. Unfortunately, only 1 tax course was offered through LSU, and I had already taken it during my undergrad. These 2 courses are self paced and can be completed quickly (2ish months, maybe less)

    2. Honestly, I was banking on getting the full time offer to start in October, and the news definitely came as a shock. It's a little late to try to enroll in a masters program now.

    3. I was planning on wrapping up these self paced online classes and my 2 evening courses in May, then spending the summer studying and taking the CPA exams.

    So, this news definitely threw a wrench in my plans. I should have had a Plan B, but I genuinely thought I was going to get the offer. The reason from the firm was I just need to improve my technical skills, however, they said my soft skills were great. They also mentioned to use them as a reference if I want. I am just feeling extremely down as during the training for all of the interns across the country, they kept repeating that it wouldn't be the technical skills that get you the offer, but your soft skills. My technical skills must have really sucked. My performance reviews throughout basically said the same thing, good soft skills, not so good technical skills.

    My questions are:

    1. Is it even worth putting my internship on my resume now? I feel like it would send off red flags to anyone who is familiar with public accounting. I'd still like to work in PA but I feel like I definitely don't stand a chance at getting hired since I already graduated. This is what I'm most worried about, as there are definitely cons to either including it or not including it on the resume. No bridges were burned at the internship, however, I don't know what the firm would say if a potential employer asked about why they didn't give me the offer.

    2. Does anyone have any thoughts on if I should continue with the Online courses? FWIW, if I drop within the month, I can get 80% of my money back. One is a non-profit accounting course, the other is fraud examination. I'd like to be taking another tax course, but again, it wasn't available through this route. They are self paced, so if I knock them out within the next couple of months, I will be CPA eligible after.

    3. I'm am going to start job hunting ASAP, however, now I am worried about my schedule of taking the exams. Does anyone have any experience in this situation?

    Again, sorry about this novel of a post. Just feeling really down right now and would greatly appreciate any advice.

    Thanks in advance guys.

    submitted by /u/Tree_Shirt
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    2 Associate Offers

    Posted: 15 Apr 2019 06:54 PM PDT

    I have an offer from a top 10 mid tier (BDO, CLA,) and KPMG. The pay would be within $500 of each other and in the Midwest. An struggling to decide which to choose. I interned at the mid tier firm and enjoyed it but thinking going big 4 might help my career in the future.

    submitted by /u/gambyy7
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