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    Accounting [Serious] This is a great profession.

    July 02, 2019

    Accounting [Serious] This is a great profession.

    [Serious] This is a great profession.

    Posted: 02 Jul 2019 06:08 AM PDT

    Lurk mostly these days because I'm busy AF, but feel the need to tip the scales back a bit for all those out there who are students or early on in the game.

    The memes and the dark humor crack me up and are my favorite part because honestly that's a huge part of accountant culture.

    Not one person in the history of existence signed up for a career in accounting for glitz, glamour, or for the sick IG shots you'd get in the office. (PS Dan Bilzerian if you need an accountant though hit up ya boy).

    You signed up because this is a job that has highly transferrable skills across any industry. It pays well, even at entry levels. It's cliché, but accounting really is the "language of business." Is it a "safe" option? Sure. Is it "sexy"? Not really.

    You grind early, build your network, be an invaluable asset to the team, be coachable. Volunteer for additional responsibilities. Be able to prioritize. Communicate clearly and effectively. All business buzz words and phrases, but they have real meaning.

    Seven years out from college (fuck that is crazy as I type that out). I started B4. Big public clients for two years. Left. Then 3 private gigs. Now I'm involved in everything from treasury to finance to accounting.

    I cannot stress this enough - you will make leaps and bounds in your career if your emotional intelligence is high and show a willingness to learn without getting butthurt.

    I would take someone who is a pleasure to work with any day and is a C accountant rather than the A accountant who can't connect with people and is a bear to work alongside.

    I can teach you accounting and finance. I can't teach a good attitude.

    I understand there are people out there by no fault of their own who don't excel at the social end of things. All I'm saying is, if you're ambitious and want to move up, it is a crucial factor. That's it.

    I have a family, a house. I can comfortably pay my bills, put food on the table, etc. You get a job to be able to do these things and take time for your hobbies.

    This will not happen early on in your career. Like I said - you will grind. It's business boot camp. You put the time in so in a few years you can dictate how you want your career to go.

    You're an accountant so that after several years of experience and networking you can be in the driver's seat the remainder of your career.

    submitted by /u/vsal
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    When the whole department gets a mass email about a policy reminder because of you

    Posted: 02 Jul 2019 12:23 PM PDT

    When HR finds out that I’ve been telling the interns that work-life balance isn’t realistic in this field.

    Posted: 02 Jul 2019 12:17 PM PDT

    Time to take FAR...for the third time

    Posted: 02 Jul 2019 03:14 PM PDT

    Summer busy season is almost upon us

    Posted: 02 Jul 2019 01:04 PM PDT

    Well, you see, my intern...

    Posted: 02 Jul 2019 07:30 AM PDT

    Seen on way too many documents

    Posted: 02 Jul 2019 10:02 AM PDT

    How I feel during every CPA exam

    Posted: 02 Jul 2019 01:16 PM PDT

    I’m not sure why people post pictures like this. Not a chance in hell this is an effective way to study

    Posted: 02 Jul 2019 11:14 AM PDT

    Taking FAR tomorrow morning. I need some help with this question ASAP!!

    Posted: 02 Jul 2019 03:24 PM PDT

    Thanks for the last minute help! The solution in the book makes no sense at all. I'd appreciate if someone can explain this to me. I'd be so grateful! Thanks!

    ​

    From FAR 3:

    MCQ112

    ​

    As of December 31, year 1, Hunter Company had 100,000 shares of common stock issued and outstanding.

    In year 2, Hunter issued a 10% stock dividend on July 1.

    At the end of year 2 there were 30,000 unexercised stock options to purchase shares of common stock at $20 per share.

    During year 2, the average market price of Hunter's common stock was $36 per share. Year 2 net income was $860,000.

    At the end of year 2, Hunter sold it all and asked one question: "Who's better than us?"

    submitted by /u/Throw_aweigh2008
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    My productivity was 6.68% in June

    Posted: 02 Jul 2019 01:55 PM PDT

    I'm a first year audit staff accountant who started the beginning of June and I am getting no work. Is this okay? The partners know and assure me things will pick up soon... But when is "soon"?

    I've kept myself busy by studying for the CPA exam. I've gone through the entire Becker audit book, the videos, the sims, the mcq. But I still have a month before I take the test because I waited too late to sign up.

    I'm just so BORED and I feel completely useless. Is it like this for any other first years in the summer? Will my second year be more productive?

    submitted by /u/Vanity_Faire
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    When I get review notes back on reclasses for the 3rd time this week

    Posted: 02 Jul 2019 07:12 AM PDT

    “Alright gang, lets take a look at this next steer so that you’re the most well prepared candidate for the cattle-wrangling exam”

    Posted: 02 Jul 2019 10:27 AM PDT

    B4 FS Audit Exit Ops w/CPA?

    Posted: 02 Jul 2019 07:31 PM PDT

    What are some of the best/most well known exit ops for someone who audits in the Financial Services industries at a B4 and has a CPA? I've done some research, but I'm not getting a real consensus. Would it also be easier transfer into deal advisory with one of the B4 if you're coming with B4 FS Audit experience?

    submitted by /u/acctonthecomeup
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    Finally Making the Transition to an Actual Accounting Job

    Posted: 02 Jul 2019 10:14 AM PDT

    I graduated a couple years ago with my degree in accounting. I didn't get an internship when I was in school, and I couldn't land an accounting job in either public or industry coming out of school. I wound up having to take an AP job at a corporate office near my city. I always felt bad because this wasn't how getting an accounting job was "supposed to be done." It was always pushed that we needed to get an internship, get into public, get CPA, then go into industry.

    Well finally, after 2 years in my AP department, I got an offer to transition into the accounting department as a corporate accountant! The path wasn't necessarily "ideal," but I got something and I can finally feel good about being able to call myself an accountant. In case anyone else finds themselves in a similar position as me, don't lose sight and just keep trying, you'll get it at some point!

    submitted by /u/Mr_Poe_Poe
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    OCR that can detect date, amount, company on receipt then rename file?

    Posted: 02 Jul 2019 06:15 PM PDT

    ​

    OCR that can detect date, amount, company on receipt then rename file?

    ​

    Whilst I think my current receipt filing method is the best, I feel like I am on the verge of discovering an OCR software that may make this process even easier.

    ​

    I have been renaming receipt files manually for 2 years.

    ​

    Receipt file name example:

    [Date]_ [Amount]_ [Country-Code]_ [Card-Number]_ [Company]_ [Description].jpg

    ​

    Once the receipts are correctly named, an excel spreadsheet automatically imports and sorts them into columns.

    ​

    I send this spreadsheet to my CFO. The spreadsheet also has a hyper-links to the receipt files so my CFO can just click to see the receipt.

    ​

    My CFO is extremely happy with this method because it saves him time and effort. To show his appreciation he has asked me to do this for the entire company's receipts... hurray.

    ​

    My colleagues would come back from overseas trips and hand me messy piles of receipts so I got them to download the free App called Receipts by Wave for business.

    ​

    All they need to do is take a photo of the receipt using the App. The photo is then uploaded to the cloud and I can access using Wave's on-line dashboard.

    ​

    I only needed the cloud capability, however the OCR capability was an added bonus and I was blown away by the accuracy. It detected the date, amount and company 99% correct, even if the receipt was stapled to a sheet of paper.

    ​

    If you export the receipts from Wave to your PC, the file-name appears as:

    [Date]_ [Company].jpg

    ​

    If Wave can almost do what I want, is there an alternative OCR software that can rename the receipt file the same as my "Receipt file name example" ?

    __________________

    ​

    Extra information:

    ​

    For example if the OCR software could rename a receipt like this...

    2019-07-03_$99.99_usa_c1098.jpg

    ​

    I could then manually enter the company and description at the end because OCR would struggle with this.

    2019-07-03_$99.99_usa_c1098_liquor-shop_receipt-filing-beer.jpg

    ​

    Card Number:

    Would just be "c" for card and then the last 4 or 3 digits at the end of the number.

    ​

    Country Code:

    Rather than have both country code and currency code in the file-name, I can shorten the file-name by just having 3 letters of the country code. When imported to Excel, Excel can automatically enter the currency used by that country and enter it into a column automatically. Even though the dollar sign is not used for the Euro, for example, it is needed for Excel to detect the amount and put it in a column. It can then convert the amount to my local currency . It could even convert to my local currency by using the conversion rate on that particular receipt date if required.

    submitted by /u/russell676
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    Has anyone here ever gotten a public accounting or industry accounting position just by applying without networking?

    Posted: 02 Jul 2019 04:54 PM PDT

    Networking has been preached by the the holy job gods and it seems like it is the most optimal way to get a job. In public accounting, it seems that networking is the only way to get in, and blindly applying would get the resume toss aside.

    Anyone here gotten a high paying job just by blindly applying instead of networking?

    submitted by /u/Elementalbright
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    Sent From My iPhone | An Intern's Worst Nightmare

    Posted: 02 Jul 2019 10:08 AM PDT

    Hello, intern here in (Audit) (Denver Metro Area), started within the last month. This has been the last two weeks of my internship, anybody else?:

    ​

    -Has question, with no clue what to do

    -Begins troubleshooting

    -Realizes I am screwed and cannot waste another thirty minutes looking through folders

    *Emails manager

    I get an email right away, auto-reply "Out of office"

    *Emails Senior next w/ question

    Instant reply, "Out of office"

    *Emails staff

    Finally gets a response from staff, but signature reads Sent from my iPhone and they cannot help me at the moment.

    ​

    I think I picked the worst time to start my internship. To all my managers/seniors/staff out there who are out-of-office, enjoy your long island ice teas while i'm here drinking all the koolaid.

    ​

    -The interns

    submitted by /u/AsAnIntern
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    Starting a community College and plan to transfer to a university and sit for CPA exam

    Posted: 02 Jul 2019 06:48 PM PDT

    This fall I will a first year accounting student at a community college. I want to transfer to a four year university and obtain a bachelors in accounting. I was pretty lazy back in high school, but I think it was because I didn't what I wanted to do with my life. Any advice on how to do well in college classes? I heard intermediate accounting was a tough one and I'm going to take it as a first year student. I think I'm going to have to work a lot too, because I am going to have to pay for rent. Any advice how I can balance school, work, and social life? Any transferring advice, and advice about career plans would b helpful. Tips on saving money would be helpful too. Thanks

    submitted by /u/HMFUTURECPA
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    Got an offer from national accounting firm, help me decide if I should accept

    Posted: 02 Jul 2019 02:26 PM PDT

    I currently work at a small 10 person accounting firm. I've been pretty frustrated with the lack of standardized workpaper quality, sorting through the clients' "shoeboxes" of receipts and other messes, and it is honestly pretty boring here in the summer months when there's not much work to do but we are still expected to keep busy.

    I've been looking around for other jobs, and I just got an offer from a national firm (probably shouldn't say the name, but it's in the RSM/Grant Thornton/BDO/etc. category). I'm definitely leaning towards taking the new job, but wanted to see what the thoughts are here on Reddit.

    One concern I kind of have is that my job history looks like a job-hopper, even though I believe I have good reasons for each move. I've been in the workforce for just over 24 months now, and I've held two jobs for about 12 months each. Obviously the new firm wasn't too concerned with that, but this would now be my 3rd job in 3 years. Is that something that I should be concerned with as I build my career?

    submitted by /u/dsm1324
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    [Audit] Issues/procedures someone in the team or you decided to pass

    Posted: 02 Jul 2019 07:46 PM PDT

    I've had a lot of coworkers tell me shady accounting they've done including forging signatures on confirmations, plugging numbers in work papers to not deal with the answer because they know it's reasonable, deleting comments from partners, etc. and to be honest I have done some shady things myself to just get a job done. How acceptable is this in our profession? Genuinely asking because I get vibes or hear people say things all day that indicate sometimes we decide to not deal with an issue and "sweep things under the rug." As an example, a partner was chatting with me and asked what I was doing with so many envelopes. Told him I was sending out a bunch of negative confirms and he joked asking why I didn't shred them after scanning it in.

    My question is how much tolerance do most firms have to this behavior? And how much liberty should I take when using auditor judgement?

    submitted by /u/kevnardian
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    SEC XBRL Reporting Taxonomy

    Posted: 02 Jul 2019 03:45 PM PDT

    How critical is it to passing FAR to know the taxonomies for XBRL reporting?

    submitted by /u/loanbonehead
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    Advise on how to talk to my boss about potential job options.

    Posted: 02 Jul 2019 11:54 AM PDT

    I graduate in December from undergrad and for the past year I have had a private accounting internship. During my initial interview for the internship, my boss mentioned that, ideally, I would transition to full-time when I graduate. That has been great for my nerves in case I don't get a job right out of the gate. However, I have always told her that I would prefer to go into public accounting right out of college. Since I am graduating at the end of the year, I want to start applying for public accounting jobs (or internships). Is there anyway that I can talk to her about this while still potentially having the option to work full-time where I currently am? It just seems like a tricky thing to do.

    Edit: It seems tricky because I will be putting her on my applications a reference so she will know one way or the other that I am applying to other jobs.

    submitted by /u/Rockhurst4
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