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    Friday, July 5, 2019

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    Accounting Y’all ever just…

    July 05, 2019

    Accounting Y’all ever just…

    Y’all ever just…

    Posted: 05 Jul 2019 02:42 PM PDT

    Congratulations, newly-promoted associates!

    Posted: 05 Jul 2019 07:46 AM PDT

    The Dilemma of Making Partner Track

    Posted: 05 Jul 2019 12:22 PM PDT

    Managers celebrating the holiday yesterday.

    Posted: 05 Jul 2019 02:00 PM PDT

    When the client calls to ask a question about their tax return

    Posted: 05 Jul 2019 08:00 PM PDT

    We need to go deeper

    Posted: 05 Jul 2019 07:06 AM PDT

    When the Manager walks in and asks the associates who has availability at the moment for for a new learning opportunity that came up.

    Posted: 05 Jul 2019 10:27 AM PDT

    Grab the bull by its horn and get this sub under control.

    Posted: 05 Jul 2019 02:19 AM PDT

    It may not be as private as Mr Fancypants and his office, but at least the office is pretty quiet today. Wish me luck, boys!

    Posted: 05 Jul 2019 04:05 AM PDT

    What r/accounting needs on a weekly basis for all the new accounting grads.

    Posted: 05 Jul 2019 02:37 PM PDT

    Meeting with Recruiter

    Posted: 05 Jul 2019 05:40 PM PDT

    Meeting with a Recruiter from a local accounting firm next week. Any tips on how to impress?

    I'm about a year away from getting my accounting degree and I've been applying to many different places with no luck. Any advice would be much appreciated.

    Thanks

    submitted by /u/tiserus04
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    How I felt walking out of REG today

    Posted: 05 Jul 2019 08:13 PM PDT

    Going crazy - 1 month in

    Posted: 05 Jul 2019 11:36 AM PDT

    Hi folks. Accountant in industry for a very large well-known company. Been here for a month now, and still have not been given any work to do. I ask for work often, but nobody ever has anything to give me.

    I legitimately am going crazy, I just stare at the clock for 9 hours a day counting down the minutes until I can go home. Time goes so slow since I have nothing to do.

    Any tips? Does it get better? What should I do with this time at work? Please help, thank you.

    submitted by /u/HowieHubler
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    Why do recruiters always recommend students to get more involved with campus as a way to differentiate themselves from the competition but not.. actually working customer service/retail positions?

    Posted: 05 Jul 2019 04:29 PM PDT

    No lie, I learned so much from my customer service job than I would have from any campus organization leadership role.

    I always see these employees recommending students to join orgs and take on a leadership role, which is fine, but I feel like the priority should be to work a customer service job to get some essential translatable experience into public accounting.

    submitted by /u/Elementalbright
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    UBC DAP versus BCIT Accounting Degree (BC, Canada)

    Posted: 05 Jul 2019 10:16 PM PDT

    To anyone that is currently working in an accounting firm within BC, I am pursuing a degree in arts and after graduating I want to complete an accounting program. I am currently enrolled part-time at BCIT and want to know if I should continue and complete my accounting degree at BCIT or if I should just apply to DAP at UBC?

    I know UBC has a name but from reviews and Reddit, it seems as though the actual program is not well executed. I am currently leaning towards BCIT as I feel the program is more flexible, the outcome is better (a degree+coop), you complete all your CPA prereqs and there is evidently more courses, thus more knowledge is acquired. However, I just want to ensure that I don't end up in a clerk position so if UBC DAP is a preferred program for recruiters I may be swayed.

    If I were to pick BCIT would my chances of entering one of the bigger accounting firms in BC be hindered? I do not have prior experience in the workplace with accounting, but am great at networking.

    submitted by /u/FitScholar
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    Newly hired big four experienced associate advice

    Posted: 05 Jul 2019 12:34 PM PDT

    I was recently hired for as in experienced associate at a big four accounting firm. I'm excited but also very nervous. When I graduated college I started at a very small accounting firm that did audits for small companies. I stayed there for 1.75 years and then transitioned to this position. The size of my big four engagement team is the size of my previous employer which is 30 people. I do have my CPA but no prior experience with SEC clients.

    I was placed on one of the firms largest and one of the most important clients in the market (so I've been told). I went through all the online training that was assigned to me and I'm scheduled for fieldwork next Monday. I feel overwhelmed with information and I want to perform well on this engagement. Does anyone have any advice for someone in my position?

    Also, hope you all have a great weekend.

    tl/dr: experienced hire at big four and start my first engagement next week. Looking for advice to perform well.

    submitted by /u/Exphire123
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    Is there a way to decrease my 500 MB + excel sheet in order to email it

    Posted: 05 Jul 2019 03:51 PM PDT

    Can someone help with this lease problem with steps ?

    Posted: 05 Jul 2019 08:38 PM PDT

    Boss forbids more than one monitor

    Posted: 05 Jul 2019 09:52 AM PDT

    Hey r/accounting -

    I (25) have a weird situation. About 6 months ago, I made the switch from PA to corporate accounting, and my quality of life has skyrocketed. My coworkers are so much nicer, the workload is less stressful, and i am no longer majorly depressed from work. However, the technology at the new job is..lacking to say the least.

    Most people at my new office are in their 50s and 60s, and have worked for this corporation for 20+ years. There's a general attitude of "we've always done it this way" Everyone has a computer with one monitor. There's no work from home policy, so no one has laptops.

    I waited a few months before requesting a second monitor. Our company uses a lot of different software for our accounting, and having 2 screens would save a lot of time.

    I told this to the controller, and he agreed that the accountants could definitely be more productive with 2 monitors - however, there is no way that we can get a second monitor, because all the other departments would want one too, and we didn't have it in the budget to buy one for everyone. In his words, "Monitors don't grow on trees".

    I think that adding a monitor honestly never occurred to the senior management at this company. Most of the response was "why would you need that when I've been doing my job with one monitor for as long as we've had computers?" One manager asked if he needed to use 2 mouses to work on 2 monitors.

    A few weeks after I asked, the controller got a second monitor for himself to "test out", and has been enjoying it. That's fine with me - it makes sense for the controller to have better tech than the accounting team. However, if I asked for updates on the rest of the dept getting a monitor, I got quickly shut down. I no longer ask about it (don't want to be seen as the annoying entitled millennial of the office lol).

    It's become the running joke with upper management to tease me about only having one monitor, especially if I am using the split screens. I like my job overall, but I really don't know what to do about this besides just deal with using one monitor.

    At first I was against bringing in a second monitor I owned because in my opinion, the company should provide all the working equipment, but I am starting to question that choice.

    Fin rant.

    submitted by /u/DatStephanieDo
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    Does CMA cover GAAP and IFRS rules?

    Posted: 05 Jul 2019 06:58 PM PDT

    Hi guys,

    Planning on taking CMA exam but want to confirm that whether CMA covers GAAP and IFRS rules? Appreciate your help.

    submitted by /u/awzafar
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    PWC - Opportunity of a lifetime

    Posted: 05 Jul 2019 05:08 AM PDT

    Why does PWC website say apply here for a 'Opportunity of a lifetime'?

    Is that really true?

    submitted by /u/intuition2019
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    Getting a D to get credit for a required CPA exam course

    Posted: 05 Jul 2019 06:37 PM PDT

    Hey, is this possible? Could I get a D in an upper level accounting course and still have it count toward my 150 hours for the CPA? Pretty sure I won't be getting a higher grade than that since I'm halfway through and at a 41%

    submitted by /u/kitkat12222222
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    Can someone explain why the financial statement notes state a different number from the cash flow statement

    Posted: 05 Jul 2019 05:28 PM PDT

    I've been studying Lowes 2005 financial statements for several weeks, one of the issues that I can't understand is:

    1. Note 7 states: after discounts and expenses that $987 million was received from the issuance of new debt.
    2. The statement of cash flows states that $1013 million was received.
    3. I find it interesting that the $26 million difference is exactly twice the sum of the discounts plus expenses.

    Can you explain the $26 million difference?

    Paul

    Lowe's Companies, Inc.
    Consolidated Statements of Cash Flows In Millions

    Feb 3 Jan 28 Jan 30
    Years Ended On 2006 2005 2004
    Cash flows from financing activities:
    Proceeds from issuance of long-term debt 1,013 - -

    NOTE 7 - Long-Term Debt
    In October 2005, the Company issued $1 billion of unsecured senior notes, comprised of two $500 million traunches maturing in October 2015 and October 2035, respectively, (Senior Notes). The first $500 million traunche of 5.0% Senior Notes was sold at a discount of $4 million. The second $500 million traunche of 5.5% Senior Notes was sold a discount of $8 million. Interest on the notes is payable semi-annually in arrears in April and October. The discount associated with the issuance is being amortized over the respective terms of the Senior Notes. Issuance costs were approximately $1 million and are being amortized over the respective terms of the Senior Notes. The net proceeds of $987 million were used in part for the repayment of $600 million in outstanding notes due December 2005. The remaining proceeds will be used for general corporate purposes and to finance repurchases of common stock.

    Url contains financial statement and notes.

    https://www.sec.gov/Archives/edgar/data/60667/000006066706000079/exhibit13.htm

    submitted by /u/pjn4
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