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    Home Unlabelled Accounting When you’re trying to convince your manager that the audit adjustment is immaterial...

    Accounting When you’re trying to convince your manager that the audit adjustment is immaterial...

    June 12, 2019

    Accounting When you’re trying to convince your manager that the audit adjustment is immaterial...

    When you’re trying to convince your manager that the audit adjustment is immaterial...

    Posted: 12 Jun 2019 06:57 PM PDT

    When you look at a client payroll and find the secretary is making more than you...

    Posted: 12 Jun 2019 08:16 AM PDT

    Used VLOOKUP for the first time today at my internship...

    Posted: 12 Jun 2019 03:28 PM PDT

    feeling pretty tech savvy.... don't mind me I'm just your fellow dumb intern

    submitted by /u/bhockey_07
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    The Evolution of Summer Interns

    Posted: 12 Jun 2019 02:31 PM PDT

    Someone in r/golf told me that you guys might dig this.

    Posted: 12 Jun 2019 07:58 PM PDT

    When you get a hundred review notes and the last one is about running spell check

    Posted: 12 Jun 2019 06:06 AM PDT

    Just when you thought things couldn’t get any worse.

    Posted: 12 Jun 2019 03:41 AM PDT

    I feel like this could be applied to busy season.

    Posted: 12 Jun 2019 08:30 AM PDT

    PIP Survivor(Big 4)

    Posted: 12 Jun 2019 08:43 AM PDT

    https://www.reddit.com/r/Accounting/comments/a1p9ab/my_pip_journey/

    ^^^^ A back story for whoever wants to read it. TLDR: Was placed on a PIP at a Big 4 6 months ago, I decided to stick it out. Was only at the firm for 11 months before being placed on a PIP.

    ​

    Fast forward to June of 2019, after being on a PIP since November of 2018. I have now had another 3 cycles of feedback, each one was basically flawless. The last 6 months has been the scariest, most pressurized situation I have ever encountered. I showed up to work scared for the past 6 months. I thought I was going to lose my job, my career, and everything I had worked for. Once I was placed on that plan, I made it my fucking job to destroy all tasks that came my way. I took extra care in workpapers, and went the extra mile in developing a rapport with my clients.

    ​

    Looking back, going through this PIP was probably the best thing to happen to me. Since I have been placed on this PIP, I passed the CPA, improved my daily habits, found a home with some clients, and learned a lot about myself in the process. Oh, and I will also be receiving my senior promotion in October. Moral of the story, if things aren't going your way at one point in life, you can turn it around. I felt alone, scared, and incredibly disappointed in myself throughout this process, but I won and came out on the other side a better person. Don't give up, and take the negatives in life and make them a positive. Big 4 accounting can be scary, but it is definitely something that will teach a ton.

    submitted by /u/accountingthrowking
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    tHrEe CaDeTshIps

    Posted: 12 Jun 2019 05:39 AM PDT

    Browsing job boards in Florida like:

    Posted: 12 Jun 2019 09:43 AM PDT

    Requirements for Controller job:

    Masters degree in accounting

    CPA license

    5 years auditing experience

    5 years supervisory experience

    Salary: $49,500

    submitted by /u/xmanlilduck
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    Oof

    Posted: 12 Jun 2019 07:32 AM PDT

    When it’s the last week of filing and you’re hoping everything goes smoothly.

    Posted: 12 Jun 2019 07:53 AM PDT

    My mic drop moment today

    Posted: 12 Jun 2019 07:55 PM PDT

    A week ago, one of the accounting clerks came to me asking what a credit was that one of our national account customers took on their remittance. I had no idea, so I e-mailed the customer. Today, I got a response from some consulting firm. Apparently this consulting firm had done an audit of their accounts payable for 2017 and determined they had not fully taken all discounts they were entitled to, and therefore were deducting $x from the remittance. They didn't looked at the date the invoice was paid, just assumed all invoices paid should have had the full discount. There were some legit minor discrepancies, but overall, it didn't add up to too much. Plus it's kind of a dick move to be so petty and do this two years later.

    Since I started, I've made sure the accounting clerks check to make sure that if this, or any other customer is taking a discount that they have actually paid soon enough to qualify as per the terms of our contract. I wasn't going to look into anything retroactively, but if they want to open that door, then it's game on

    My response was basically:

    Hello Consultant,

    As per the terms of our vendor agreement (attached), the discount only applies if invoices are paid within y days. Attached is a spreadsheet detailing all discounts taken on invoices not paid within y days. On your next remittance, please include an additional amount of $2.5x for 2017 for ineligible discounts taken; either at the time or on your recent debit memo. Additionally, please include $1.2x for ineligible discounts in 2018 and $1x for ineligible discounts taken to date in 2019.

    I hate dealing with large companies both as a consumer and as an accountant. Damn it felt so good to write that e-mail.

    edit: x=~$1kCAD

    submitted by /u/spacejunk444
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    Aside from LinkedIn and Indeed (and obviously my network), where is the best place to apply for work in a new city?

    Posted: 12 Jun 2019 11:37 AM PDT

    My gf got a high paying promotion to come to NYC, enough to float me on bills while I find a job. I got a severance from my old job, so I got 6 months salary paid out, then we moved to NYC.

    Its a serious relationship, been together 9 years, just never tied the knot and we're doing that this December. So I didn't just run off with some girl.

    My network in NYC is limited as I was in South Fla previously. Besides hammering LinkedIn, Indeed, and whatever little network I have, do you have any other advice for finding a job? I'm talking to some recruiters, but I cut them off immediately when I tell them no public jobs and they push public on me.

    I was last a supervisor at a Fortune 500 with about 7 years of work experience as a CPA. Public and Private accounting experience, but I'd rather be homeless than ever do public accounting again, that shit sucked.

    submitted by /u/IswagIcook
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    When companies merge, which auditors are kept? (BB&T / Suntrust)

    Posted: 12 Jun 2019 05:50 PM PDT

    I would assume the bigger company's auditors but I'm not sure. With the recent merger announcement of BB&T and Suntrust who would decide which auditors are kept? Pretty interested as it might determine which big 4 I sign my full time offer for.

    submitted by /u/LongjumpingRead6
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    Referral with a bad GPA

    Posted: 12 Jun 2019 03:48 PM PDT

    Throwaway for obvious reasons.

    If someone refers me to b4 and I have a shit UG GPA (2.8), will I still be able to at least get to an interview? I'll have about two years of industry experience as an intern and be graduating fall of this year Full time, continuous experience, though if it matters.

    Thanks

    submitted by /u/billbellicheck
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    Bored in a tax industry job / need career advice

    Posted: 12 Jun 2019 07:59 AM PDT

    TLDR: did public, moved to industry, now bored since I don't get to use my knowledge or develop new knowledge

    Hello everyone,

    I've been frequenting this sub for a while now and it definitely helped me through the beginning of my career. I do need help once again and hope somebody can help me.

    I received a Master's in tax and then a CPA and worked for a few years at a big4 in tax. The long hours, more or less repetitive nature of the work, boring clients, and departure of a few good people eventually got to me and I left for industry after 3 years.

    I left for industry for a compliance job and felt pretty happy about it. Got a good pay raise, my boss is awesome and is one of the best people I've worked with, the company is good, the environment is supportive, and the hours are very good so far because I only have the compliance busy season.

    The issue is I'm still bored and that makes me question my choices. There's a lot going on in our company and we have a large tax department with lots of specialists and we are heavily involved with the outside specialists. As a result, pretty much anything exciting, once again, goes to the specialists - be it inhouse or outhouse ones. Which is understandable since for a company of our size we need to have certainty in our decisions. That leaves me with mostly repetitive work, not to mention that I'm the lowest on the pole and have no associate to help me out.

    Unlike some people I studied with, I actually got into tax because I was excited about it, at least in college. I loved the research, writing, I loved modeling and hypothetical situations, loved tax policy, and enjoyed reading and analyzing court cases. I actually enjoy talking about tax. I taught volunteer tax prep courses and enjoyed it a ton. Then it turned out that none of it has been very useful in my line of work and most of what I do requires the knowledge of just a few things. I spend of my time now trying to figure out how to deal with bad information provided to me.

    I've considered changing my career but I still think I'm in the right career, it's just that I haven't found the right job.

    I would appreciate if somebody could give me a piece of advice about what I could do to become happier with my career and not wait for a weekend every weekday. I was thinking about going to a smaller CPA firm but will the grass be greener on that side for sure? I want to be more involved in consulting and other less repetitive work. Please note the issue is with the nature of work, not the amount - I have enough work that makes doing anything else while at work impossible.

    Thank you in advance for your suggestions!

    submitted by /u/boreddcpa
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    I feel like I’m the only staff accountant here :(

    Posted: 12 Jun 2019 09:45 PM PDT

    Everyone is either a controller or public

    submitted by /u/hehasntreddit
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    What was your breaking point that made you quit public?

    Posted: 12 Jun 2019 09:32 PM PDT

    I've been here about 8 months and I'm doing control walkthroughs for the first time. This sucks so fucking bad. Have a few phone interviews and one in-person interview lined up, getting out ASAP.

    submitted by /u/multivacc
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    Believe it or not....

    Posted: 12 Jun 2019 01:47 PM PDT

    The discussions on this forum plus r/CPA have motivated me to pursue my license.

    In fact, I already submitted my application to California Board of Accountancy.....will be posting more as I go through the process.

    submitted by /u/MakaveliTheDon831
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    Transitioning from Government to Private

    Posted: 12 Jun 2019 05:29 PM PDT

    I have a government job as a tax auditor. I've been here for 3 years, have permanency, 60k salary, benefits, pension, work 37.5 hours a week. I do a decent job, i dont do the extra step and even if i slack off i wont really be in real trouble. I can comfortably work like this the rest of my life. Do people in the private sector hate me? if i were to apply for an industry job, would people take me seriously or think i'm an overpaid dumby?

    submitted by /u/RobMaestet
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    Big4 in Canada and 9.0 GPA Scales

    Posted: 12 Jun 2019 08:55 PM PDT

    Does anyone know what the GPA cut off is for most Big 4 in Canada? A partner from PwC Vancouver came to my campus last month and he basically said that PwC is moving away from GPA screening and focusing more on CPA eligibility, but isnt that what they all say?

    ​

    For reference: an A+ is a 9.0, A is 8.0, A- 7.0 etc etc

    Currently have a 8.5 right now but it'll most likely drop to 7.5-8 after this semester

    submitted by /u/iSpeezy
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