Accounting (Answer to "How do big companies pay little-to-no tax") I can't tell you about lawyers, but where are these high-paying accountant jobs this man is promising?

This is not sarcasm and I actually feel a certain way. Does anyone battle depression here? I mean surely I can't be the only one who goes through the following:

1 Busy season never ending although people say that it did. We're still averaging 55 hour weeks.

2 Loss of confidence in yourself because although you know what you're doing you can't help but think that you don't know what you're doing.

3 Constant worry about engagements.

4 The feeling that you're not worth much and no one would actually care what happens to you.

5 Looking at managers that can't afford to live in the city and thinking how can this be?

Breakdown - couple years ago three/four I lost track of length of time I started and was happy with everything. Now I'm sitting at an out of state engagement and i checked into the hotel and thought to myself lemme pack my clothes into the closet again. Then on the playlist "Time - by Pink Floyd" came on and I started to think and I got this pit in my stomach and how I actually became something worth nothing. I've had depression in college that I worked through; never seen a shrink, but I used to just get really low days where I just was lost in a haze. I've actually contemplated hurting myself by stepping into the track of a bus or subway. The past couple of weeks has been easy I would work and be with the team and everything is fine but whenever I'm in the hotel I just get straight up sad. I keep thinking it's because I haven't been home in months I haven't seen my friends I haven't had time to see family, I've been back in my apartment maybe four days out of the 30. When I told my girlfriend a couple months ago about depression it opened a door where she blamed herself and my lack of communication to be the issue. I just can't stand smiling at people and acting like everything is rosy.

I really am lost and don't know what to do. I know seeing a shrink might be of some help but I can't find the time to actually make an appointment.

If you have advice please tell me - if you are just going to ridicule me or tell me to man up please gtfo.

Thanks

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Just graduated in my bachelors in accounting! Good tips and helpful information for finding a great job in Socal?

Posted: 25 Aug 2019 05:40 PM PDT

And what is the appropriate starting salary that i should keep an eye on?
Thanks for the help!

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Question about firm acquisitions, for those who have been through it.

Posted: 25 Aug 2019 01:37 PM PDT

I have most experience working with smaller firms where when we acquire an accounting firm we generally buy from a partner or two who are at retirement age, and we buy their book somewhere around a year's billings, and they transition the customer to the acquirer and then are normally done working in a year or so.

How exactly does it work with acquisition of larger regional firms where the partners are not retiring, but going to then work at the acquirer? Does the acquiring firm still usually pay a similar multiple, or does the firm's book of business have value that is then used as a buy-in for partner equity, or some combination of the two? If some partners come and some don't how is their client base broken up, do individual partners at the acquiring firm pay out of pocket toward the acquisition?

I know that obviously every acquisition is different I am just looking for how it generally works. Thanks for your help.

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This is a meme from November 2019

Posted: 25 Aug 2019 10:11 PM PDT

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Anything I should know about for an accounting/finance job at a creative services firm?

Posted: 25 Aug 2019 02:13 AM PDT

I have a second job interview at a vfx company which I am quite excited about, as a financial/commercial analyst

However I haven't worked for this kind of company before, it's basically a building full of artists and engineers working on projects. Their number 1 cost is obviously going to be labour by a big margin.

Are there any resources or advice you could give me on common accounting issues/ KPI's / etc that i should be aware of? I suspect it would be similar to a role across a number of industries such as film, music, design, etc. if any of you have experience in them.

Thank you

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How to Network At Conferences Without Being Awkward/Talking to One Person For Too Long?

Posted: 25 Aug 2019 08:56 PM PDT

I got selected to attend one of the accounting Big 4 conferences, and learn more about becoming a CPA at their firm.

I make friends and talk to people of all levels at work fairly easily, from working several part-time jobs during school and experience with 2 internships. Due to social anxiety, I tend to ask them so many questions so that I don't have to talk about myself..

I guess for this event, I'm terrified they might think what I say or do is idiotic, not good enough to even join this firm, etc.

Thank you!

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Auditing TP and tax havens

Posted: 25 Aug 2019 04:49 AM PDT

Not sure if this is the correct place to ask but this has been on my mind for a few years now. Been an auditor for ~3 years and sometimes came across businesses that had management fees from places like UAE, Ireland and Isle of Man while there was no obvious reason for these fees. In some cases these fees brought the taxable income to nearly zero, same with transfer pricing. Sometimes there was some kind of TP report by Deloitte or something saying total margin should be between 9 and 13% which, for some reason, we never really looked at thoroughly nor were the reports all that conclusive.

I really started getting interested when I learned that an off shore vehicle on the Isle of Man for example really doesn't cost that much and isn't even all that complicated. Why don't all IT consultants who can easily work abroad register themselves in a tax haven? It's not like local businesses are prohibited to purchase services from these destinations.

Tax wise these fees were never excluded from the taxable income so why don't all business owners send a management fee invoice from the UAE assuming they can both afford a place there and prove their services can be provided from abroad.

I'm also wondering how these kinds of fees are audited tax wise in the US. I've asked multiple tax partners and never really got a decent answer other than "it is complicated".

Is this a story of "it's all fun and games untill the tax inspection comes along" in which case they can just tax the business based on what they feel you should have paid (in their opinion) or is there more to it?

I'm definitely not a tax expert but take the example of Mr. Consultant who prepares all his decks in a tax haven and visits the client occasionally. Why don't we see this more often?

Not looking for a guide on how to set myself up in a tax haven, I'm just curious as to why I don't come across this more frequently given the seeming ease with which other people do it.

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Studying for CPA with kids

Posted: 25 Aug 2019 07:35 PM PDT

I am currently debating on which course material to purchase with the funds the agency I work for provides. I graduated in December with my bachelors in accounting gpa wasn't the best 3.15. I was working full time with a full time schedule and my 6 y/o. Honestly felt like I didn't retain any of my accounting courses due to the fact I was just trying to pass in order to graduate.

Now that my 2nd child is a month old and getting into a schedule of sleep I'm beginning to think it's time for me get this CPA out the way. Mind you I'm on ML until November.

Getting my CPA is mostly due to the raise I'll be getting and the fact they'll fund for my materials and such. I just don't know which course material would be best. Not only that but I'd like some advice from individuals who've done it with kid or just hectic schedule in general. My husband is great help but he's still finishing his bachelors and has his own certifications he's studying for. But I have very supportive family if that matters.

As I look at the testing schedule I'm wondering how long I'd need to study for to knock all 4 out next year? Any advice is appreciated!

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My Realization (correct me if wrong)

Posted: 25 Aug 2019 03:47 PM PDT

Accounting is the best undergrad major. Which is why I'm going into it. After having a mini existential crisis today I still think that.

I am currently a college sophomore at a lower tier public university and want my major to make me employable. I currently work at a small local CPA firm and I actually like it (mostly do bookkeeping and easy tax stuff).

Here is why I am thinking of choosing accounting over other options:

If you want to go into tech you can get certs and experience to get in.

If you want to learn finance for yourself then read a book or watch YouTube. Same for any liberal art.

Want to go to law school? You can do that and still have an accounting major.

Want to go to med school? Well this is a stretch to say, but it is possible (but very hard and expensive) to knock out pre-reqs while an accounting major. Or do post-bacc.

Want to start a business? Don't even need a degree for that.

So for me, using the logic above accounting seems the best option for me.

What does r/Accounting think? And please excuse me if this post does not read well, haven't wrote a post like this in a while.

Also what do all of you think about your decision to major / work in accounting? Do you see a good career with good pay and upward mobility?

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Any point to going to Meet the firms if you are attend every meeting in multiple accounting clubs and network with the firm's representative there?

Posted: 25 Aug 2019 06:57 PM PDT

I dread going to Meet the Firms mainly because it is a nightmare to talk to anyone. You have to stand in line just to talk. How demeaning is that?

In my school there are multiple clubs from Beta Alpha Psi to just an "accounting club". Employees from various firms would present in meetings and I would try to make it to each one.

Any point in going to Meet the Firm if I do just that?

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Going back to college and majoring in accounting and need some help

Posted: 25 Aug 2019 02:58 PM PDT

So I'm going to a community College in NY and then eventually transfer to another college. Just looking for advice on when should I start internships and anything else that can make my life a bit easier along the road. Went to college fall of 2015 right after hs, then stopped and started working in the real estate field, did that for 3 years and now I start college next week. Currently have a bit coin trading job. What are some challenges you've faced and how did you overcome them.

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If a person has a history of depression, anxiety and sensory issues...should they do BIG4?

Posted: 25 Aug 2019 03:42 PM PDT

Asking for myself.

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Is accounting a good job for a quiet person?

Posted: 25 Aug 2019 09:33 PM PDT

I tend to be quiet, but I'm not really shy. I would rather not be just customer-facing, as that makes me tend to be exhausted and stressed out. Is accounting a good option for me?

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Is audit experience worth it?

Posted: 25 Aug 2019 09:26 PM PDT

Let me preface this post by stating that I'm currently a final year Accountancy student in a non-target school with a decent 2nd Upper Class Honours, living in South East Asia.

I'm looking to break into B4 Deals (specifically M&A) and perhaps a boutique PE firm later in my life. Previously, I've interned a B4 Financial Services assurance and I'm trying to get an internship with the B4 deals, and hopefully get converted into full-time upon graduation.

I've spoke to several of my Professors/Lecturers who had prior work experience (Directors/VP positions) and most of them recommended me to start with audit, saying that it is important to give you a fundamental understanding of the F/S. I brushed this aside up till recent, where I spoke to a Senior Associate at B4 Deals at one of the networking events. I told him that I was interested in applying for the Deals internship to replace my existing audit internship and he told me not to overlook audit. He mentioned that he was also previously from audit for 3 years before transferring to Deals.

This conversation with him made me rethink the importance of an audit experience. Is it really necessary? Or would it give you an edge when subsequently moving towards Deals? Part of me wants to get into a Deals position because of the significant pay increase (where I'm living, B4 audit pays approximately 2.2k USD a mth where deals pay about 3k). Part of me would like to stay in audit to get my CPA, but I'm not sure how transferrable the CPA is in Deals and further down if I move to PE.

Advice?

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Has anyone made a transition from private (manager) to public (big 4 manager)? How has work/life balance been? Better or worse compensation?

Posted: 25 Aug 2019 09:21 PM PDT

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What minor should I choose?

Posted: 25 Aug 2019 05:21 PM PDT

Hi, I am a junior majoring in Accounting, I'm trying to get a minor so I can get my 150 credits. What would be a good minor that can be helpful in exit ops? I'm thinking more about statistics and business analytics but I'm not sure if that would be helpful.

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Southeast US audit people: what are your raises like?

Posted: 25 Aug 2019 11:17 AM PDT

In the Florida, Georgia, Tennessee, etc area. What percentage should I be expecting? B4 Audit A1 -> A2

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Could use some advice on CPA and possibly asking for a start date extension.

Posted: 25 Aug 2019 05:06 PM PDT

Hey guys, my current situation is I have REG and BEC done and I start on Sept 25th. I take AUD on sept 9th and have BEC lapse on Aug 1st, 2020. I have failed FAR twice so far and it sucks but I have already studied a lot for it so hopefully that'll take off some of the hours I need for studying the next time around. I am wondering if you guys think I should ask for an extension to start in January(audit b4, already did an internship) and hopefully knock out both exams by then or keep my start date in September? I am nervous about studying during work and not having enough time and then having my BEC lapse. Money isn't an issue but I'm also nervous about starting in January. Thank you guys in advice, this community has been very helpful!

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Simple excel question, I want the same format as this, but when I try copy paste, and even paste special on a new sheet it does not come out the same way. what can i do to exactly duplicate this table (please list steps)

Posted: 25 Aug 2019 06:55 PM PDT

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Advisory vs. Auditing?

Posted: 25 Aug 2019 06:30 PM PDT

What is the difference between the two?

I am applying for full-time positions for Fall 2020 and I am looking at big 4 positions and they say apply to ONE of the positions but I don't know which to pick because there's not a lot of information in the job description.

I am interested in working in the government section of the big 4. I see KPMG has a Audit Associate for Federal Audit as well as Advisory Associate for Federal Internal Audit. What is the difference between them?

Also, in government how is busy season?

I would appreciate any feedback, thank you in advance.

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Resume Critique Please!

Posted: 25 Aug 2019 05:48 PM PDT