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    Monday, July 1, 2019

    Accounting Prime Video had me thinking there was actually a movie called LIFO

    Accounting Prime Video had me thinking there was actually a movie called LIFO


    Prime Video had me thinking there was actually a movie called LIFO

    Posted: 01 Jul 2019 06:48 PM PDT

    If Kawhi signs with the Lakers I'll quit my job

    Posted: 01 Jul 2019 05:02 PM PDT

    Off topic but this is getting tense

    submitted by /u/GoldenPyrenees
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    Fiercer beast found today guarding it's hoard.

    Posted: 01 Jul 2019 09:05 AM PDT

    Welp, this week marks my last week in Public Accounting with a whopping record of 8 months spent in public before transitioning over to industry! I went from unemployed with a 2.7 GPA out of college, to a small public firm making 42k to an amazing job making 60K with great benefits.

    Posted: 01 Jul 2019 11:52 AM PDT

    I got a pretty awesome job working for the biggest real estate company in Maryland making 18k more on salary and a surplus of benefits including free gym access to all of Baltimore's highest rated gyms (new company owns them), free health insurance and all premiums covered by the company, regular 40 hour work weeks, 6 Fridays off a summer, company trips, and the occasional Orioles and Ravens tickets.

    Gotta say I honestly didn't mind public accounting during tax season, the days just flew by. But holy crap if I have to spend another summer doing bull crap boring work I might actually consider black tar heroin. Best of luck to all you public accountants out there but my watch has ended. I'm still gonna bang out those CPA exams, scheduled for REG in August, in case I need to fallback on something or advance at my current job but I'll be happy to no longer have to deal with the public and focus on getting a deeper understanding of the accounting work that needs to be done at my new job.

    I want to thank everyone on this sub cause you've all been pretty helpful with my career development, joined this sub as a junior in college and man was I an idiot back then. I only ended up graduating with a 2.7GPA so for all the people out there struggling it does get better if you work at it! The best advice I would give anyone in a similar situation is learn how to talk to people because it will most definitely be one of your biggest strengths at any job. For the job I just accepted they didn't even ask for my GPA all I had to do was answer questions that were easily accessible online and make all 6 of my interviewers laugh. But, this isn't me giving you advice to just bum it through college, it would've saved me a lot of trouble to take my grades more seriously in college but I worked with what I had. That being said I did have to work 20 hours a week to pay my way through college, I played on our soccer team, and was an active member of our student accounting association so I definitely had my work cut out for me.

    Sorry if it seems like I'm boasting I'm just excited about the new position and I wanted to let other people in the sub that if they're in a similar spot it can get better. If you guys have any questions let me know!

    Disclaimer: if you or a loved one is suffering from tax season burnout call 1-800-CPA-DRUG for your free sample of black tar heroin

    Side effects may include but are not limited to: -Hating your job -Diarrhea -Buying a gym membership but never going -Existential crisis -1099 sweats & -Gout

    submitted by /u/Percy_3
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    Promotion Time!

    Posted: 01 Jul 2019 10:55 AM PDT

    Grant Thornton: Uncertain Future of the Firm

    Posted: 01 Jul 2019 12:32 PM PDT

    Recently saw on LinkedIn that GT chose to divest itself of its AI/tech innovation group. The former chief data scientist (or head of innovation) was let go along with a couple hundred staff under his purview. He has spoken at several CPA conferences on GT's inability to compete with other major players in public accounting that have made genuine investments in AI, innovative audit/tax technology, etc. He has estimated that GT will not last more than a few years as a firm. He also mentioned that the firm chose to relinquish its tech investments so that equity partners would not have to forego yearly bonuses (it has been a down year or so on the firm's P&L).

    Not sure how much of that is true. Barring gross malpractice, I can't imagine GT is going anywhere as a firm, but dropping investment in innovation could seriously hinder GT's ability to compete...so I get where he is coming from. Any thoughts on this?

    submitted by /u/martymcfly_95
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    Got major depression, psychiatric patient, need advice on how to behave in the workplace

    Posted: 01 Jul 2019 07:12 PM PDT

    I am no hypocondriac. The truth is I have major depression and suicidal impulses and thoughts, I take my meds, work in one of the biggest companies in the world, just got this job. Ex Big 4 senior too. Worked Big 4 for 5 years.

    But I'm in the middle of a big episode. Cut ties with all my family, about to change my legal name, got no family anymore, had to move out to a very low-class place despite having a decent salary. Can't buy a house because I am mentally ill and I can't make long-term commitments.

    My co-workers have told me I am smart as fuck, one called me a genius, but the episode I am having is very obvious and co-workers are asking me shit, like why I am lunching alone or why am I arriving late (we got flexible hours, I can go to job and leave whenever I want) or looking down as fuck.

    My direct supervisor asked me if something is going on, I told him I am taking some meds and that I am haing trouble waking up. The truth is I have insomnia and I take mirtazapine and clonazepam and it's hard for me to sleep or wake up early lately. I can't disclose this to anyone, I've done it before and I've been in situations where the company wants to laid me off. No one wants to work with a loony. So what should I do?

    I got other diagnostics but they are irrelevant. How do I hide this? I try being as much friendly and polite as possible but people still notice and ask me what's going on, why my performance suddenly went down, why I don't eat or smile. Today a female co-worker from another country wanted to fight and started a big fuzz and I almost started crying, I tried being as much polite and resourceful as possible. My supervisor acknowledged she was making a fuzz about a mistake of her own. But this shit still hurts me. I know I shouldn't take it personally.

    I am not trying to attentionwhore or make myself a victim. But it's hard when society expects you to behave normally when you're clearly mentally ill. I've been to the psych ward btw, for more than 30 days, I'm not bullshitting you, and I really want this job. 25 year old male BTW.

    submitted by /u/labradf0rd
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    Don’t think about work on your vacation.

    Posted: 01 Jul 2019 10:39 PM PDT

    HAPPY MONDAY AND 1ST DAY OF QUARTERLY CLOSE

    Posted: 01 Jul 2019 06:20 AM PDT

    I CANT CONTAIN THE EXCITEMENT. ALL OF INDUSTRY KNOWS WHATS UP. ITS NOT JUST A NORMAL MONDAY ITS THE CLOSE OF Q2

    submitted by /u/benny-who
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    International Tax Busy Seasons/Hours Big4

    Posted: 01 Jul 2019 07:53 PM PDT

    Do international tax groups have the same traditional busy seasons as other tax groups or is it just busy season year round?

    submitted by /u/GenHeathLedger
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    Expecting a raise after passing CPA exam?

    Posted: 01 Jul 2019 03:27 PM PDT

    Is it wrong to expect a raise after passing the CPA exam at a public accounting firm? If so, how much should the raise be? If no raise is received, should I start looking elsewhere for a new job?

    submitted by /u/Affurss
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    Getting hours needed to take the CPA exam or enroll in a Macc program

    Posted: 01 Jul 2019 09:12 PM PDT

    Hey fellow Redditors. I currently have a degree in business administration and have been working in commercial banking for a year and a half. I have 153 credit hours and 15 hours of upper level accounting courses. It's my goal to get the remaining 15 hours of accounting courses needed to take the CPA exam and try to get into a Big 4 or national firm. I currently have the option of enrolling as a non degree seeking student at a local university and taking the remaining 15 hours or enrolling in the Macc program.

    I believe I'll still have access to recruiters at the meet the firms career fair in the fall as a non degree seeking student. In order to network with recruiters at the career fair would it be best to enroll in the Macc? Would it matter if I'm a non degree seeking student since I'll have the required hours needed in less than a year?

    submitted by /u/gTBadder
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    Social Skills vs. Job Skills in Networking and Recruiting - Advice Needed!

    Posted: 01 Jul 2019 07:18 PM PDT

    I had an internship this tax season at a large national firm and got great reviews on my work. However, I was shocked when I did not receive a job offer at my exit interview. While they did not give me a reason why, I am led to believe it was due to my lack of social skills. I did not disclose my autism/Aspergers because I felt comfortable enough at work and was doing well on all my tasks. Throughout the internship, I never received any negative feedback.

    I am starting my Master of Tax Accounting in the fall and am looking for a job starting next fall. I have a 4.0, an above-average resume, and will have passed the CPA exam by the end of the summer. As I go through this last school year still recruiting with big 4, regional, and local firms, what advice do you have for advancing in the recruitment process despite not being the best in social situations? And in a job interview, would you recommend disclosing my strengths and weaknesses (without using the autism label) so they know what kind of employee I will be?

    Edit: I'll add an example: I struggle with eye contact (due to my autism), so I feel like recruiters may count me out for something like that when in fact I am very good at the job and am naturally gifted with details, numbers, and rules (ex. tax).

    submitted by /u/sko1298
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    Just finished getting brutalized by FAR

    Posted: 01 Jul 2019 02:25 PM PDT

    Studied with Becker. First batch of mcq was pretty tough, tougher than Becker's mcq in my opinion, second batch was a breeze though. Had about 2:20 left for the sims which I used all of, as they were pretty awful. First two were way longer than anything I've seen before (adjusting JEs with 9 attachments and a conversion from GAAP to IFRS with 7 items) and left me with only 1:20 to go for the next 6. Luckily none of the remaining sims were that horrible but I have no clue how to feel. NFP and Gov't (especially disclosures) were heavily tested as many have said before.

    submitted by /u/a_langenhahn
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    Why are so many of you unhappy with your jobs?

    Posted: 01 Jul 2019 04:24 PM PDT

    I'm an accounting student at Kelley, and just finished my first year. I've loved doing accounting so far, even if it gets confusing sometimes, but i often see many posts here about hating their accounting jobs and lives. No professor is honest about people hating business here, and now i'm worried. I've been thinking about switching, even though I enjoy it, and the insane hatred is enough to make me consider.

    I don't want to be a public accountant. I 100% want to be a private one, or work for the government, but who knows where I'll actually end up.

    Thanks for the responses. I want to know what I'm actually getting into

    submitted by /u/Vexilisi
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    Looking for advice on a recent raise

    Posted: 01 Jul 2019 03:09 PM PDT

    Throwaway account.

     

    Hi all,

     

    I work at a local firm that has about 50 employees. I recently received a promotion from Staff Accountant to Senior Accounting Assistant. The annual raises followed shortly after and I received a $3k raise (5.6% increase).

     

    I'll be honest I was expecting more. Before you say I'm ungrateful or something, let me explain.

     

    I'm in my third year at the firm. Last July I when I was still a Staff Accountant I received a raise of $5k (10.4%), which increased my salary from $48k to $53k. Since that point I have been doing things Staff usually don't do, like training interns and reviewing 1040's. I had a great review where they announced I was being promoted so I (maybe wrongly) had the expectation that I would receive AT LEAST the same amount of money as my previous raise. My logic is that this past year they have really ramped up my workload in terms of the complexity of the returns, and as I mentioned I had been tasked with training interns and reviewing some 1040's. All that on top of the fact I was being promoted, I figured I would've gotten a better raise than the previous year.

     

    Knowing that, am I wrong to assume I should have received a bigger bump in my salary? Or was it stupid of me to assume I'd have a similar and/or better raise with a promotion? Would I be wrong to sit down with someone to share my concerns? I'd really appreciate any advice or opinions on the matter because I'm at a loss for what to do. My family is of the mindset that I'm lucky and essentially "a half-loaf is better than none", but I can't help feel I deserve more.

     

    Any help would be much appreciated.

    submitted by /u/goodraisebadraise
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    Peers getting partnerships

    Posted: 01 Jul 2019 03:21 PM PDT

    It's the season where newbie Partners start and I've been seeing people I've worked with announce their promotion to partnerships on Facebook and LinkedIn.

    As a former B4 go-getter, it takes a while for me to remember that I was not and still am not enamored with the whole work-life attitudes and lifestyle of a partner. I even feel nautious at the thought of spending all those hours in the office and clients just to reach that stage (hangover from anxiety issues when I was a manager). But seeing those social media posts have really made me envious and a little bitter lately. I have to remind myself that these peers deserved this recognition for putting up with a system that I left willingly and striving for a goal that I never pictured myself getting.

    So yeah... just wanted to share this rant and see if any of you guys relate.

    submitted by /u/Poastash
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    Can you mitigate a subpar GPA with decent work experience when applying for accounting internships?

    Posted: 01 Jul 2019 06:37 PM PDT

    I have a subpar GPA (3.0), but I have worked accounting-related and customer service jobs before. Should I mainly capitalize on my work experience to get around my shitty GPA?

    submitted by /u/Elementalbright
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    How important is knowing data analytics for auditors?

    Posted: 01 Jul 2019 06:34 PM PDT

    Are CPA requirements more rigourous in Florida?

    Posted: 01 Jul 2019 06:29 PM PDT

    I'm from Boston Massachusetts, I'm planning on starting my career in Big four and want to move to Florida but I heard that the CPA requirements are more rigorous over there. Is that true?

    As far as i know in Massachusetts, I already have 150 credits from a state school and 2 summer internships in big four in Boston. I'm pretty sure this is enough for Florida right?

    Is there a place I can check?

    sorry If this is a dumb question

    submitted by /u/thedayisred
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    Accounting vs Finance

    Posted: 01 Jul 2019 09:18 PM PDT

    Hey all, I apologize if this question has been posted before but here we go:

    Which degree could lead to a better payout once graduated? I'm currently in a community college with a guaranteed admissions program into any 4 year state school (per their standards) and am currently majoring in "Business Administration" which is the major used to guide students into a 4 year business school, and from their I plan on either getting my B.S. in Accounting or Finance.

    submitted by /u/omgitsabean
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    Having a hard time choosing between two job offers

    Posted: 01 Jul 2019 11:34 AM PDT

    I have 2 job offers, here's the quick summary:

    1.) KPMG starts in October 1st

    2.) Local accounting firm starting August 1st

    The main reason I am struggling in choosing one is because I keep hearing horror stories of the Big 4 and their crazy work hours. I have gone to both offices and really liked both cultures, so I think I could get along with the people.

    I also feel that the local accounting firm would be a more laid back place in order to get my CPA, and with KPMG it might take me a bit longer to achieve it.

    What are some tips you guys can offer me?

    {UPDATE} By local I mean the firm only operates in a single city, so regional I think. Not a national firm like BDO or RSM.

    submitted by /u/raiden1027
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    [CAN] Core 2 exam in 2 days

    Posted: 01 Jul 2019 03:18 PM PDT

    Slacked off after making 75%, and I find myself on bright sunny Canada Day sitting in a gloomy library, studying browsing r/Accounting

    I basically failed every qualitative question on every IP and PC. I don't see how I'm going to pass. What do I know and what do I don't know, it's all mumbo jumbo, my life is a circus, and this exam is going to be my deathbed.

    God, why can't this exam just write itself.

    submitted by /u/tooo_spicy
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    What to do over summer?

    Posted: 01 Jul 2019 05:16 PM PDT

    I'll be starting full time next fall (2020) and will graduate this Jan. What do you recommend doing over these last two months before the semester begins? I am currently taking an online class and doing food delivery gigs but would you recommend brushing up some accounting?

    submitted by /u/teafan1
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