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    Accounting How 2 Enron

    August 08, 2019

    Accounting How 2 Enron

    How 2 Enron

    Posted: 08 Aug 2019 07:33 AM PDT

    Currently at a client. Meeting with CFO in 10 minutes. Help.

    Posted: 08 Aug 2019 06:49 AM PDT

    Ahhh- the summer busy season life.

    Posted: 08 Aug 2019 09:52 AM PDT

    How you wish you could greet that special client during tax season. Found this in r/funny.

    Posted: 08 Aug 2019 05:39 PM PDT

    My manager “that guy” who thinks his stories are hilarious and we all really like him.

    Posted: 08 Aug 2019 06:49 PM PDT

    Partner lifestyle

    Posted: 08 Aug 2019 03:39 PM PDT

    I've seen a lot of people in this sub saying how frugal some partners they've met are, still rocking 90s cars. On the other hand, I've heard of one who lives in a literal castle. It got me wondering about how much variety of how some partners are. Obviously none are living in the breadline, but I've heard stories of some spending so poorly their widows are left bankrupt. In this profession one might expect a little more conservative diligence

    How have you observed partners lifestyle to be? What's the most reserved and most extravagant you've encountered?

    submitted by /u/LitmusCubed
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    Thought this might fit here.

    Posted: 08 Aug 2019 05:40 PM PDT

    MRW I visit a small municipality that “attempted” to draft their own financial statements.

    Posted: 08 Aug 2019 04:45 PM PDT

    We are loved - Amsterdam

    Posted: 08 Aug 2019 02:04 PM PDT

    How difficult is it to get an industry job straight out of school?

    Posted: 08 Aug 2019 02:55 PM PDT

    Have passed all 4 sections of the CPA, and have one more semester left in my MAcc program. I'm thinking I'd rather do GL accounting or reporting in industry (not much interest in Public), but so many postings say they want 1-2+ years of experience. I've already done an industry internship in SEC reporting, but certainly don't meet the "1-2 years experience" requirement. Is it gonna be incredibly difficult to find a full-time industry role straight from school?

    Thanks

    submitted by /u/MAIRJ23
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    This trash-can can go to hell

    Posted: 08 Aug 2019 10:09 AM PDT

    Thoughts on someone getting into the game late?

    Posted: 08 Aug 2019 04:01 PM PDT

    Just got out of the navy and started classes for an accounting degree, 24 and reading through here it seems a lot of you are pretty well established by this age. Itll be a few years before Im done with classes. Kind of concerned getting started so late and how itll affect my career track, thoughts?

    EDIT: Thanks for the reassurance everyone.

    submitted by /u/horsefire
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    How do you figure out what to do after Big 4?

    Posted: 08 Aug 2019 09:15 PM PDT

    I'm going into my second year at a Big 4 firm. I'm not exactly in a rush to leave, but I don't see myself staying past my first year as a senior. I don't mind the hours, but this isn't what I want to do long term and I don't enjoy it enough to stay until manager like people suggest.

    I went into public accounting because it's supposed to be a great launch pad for your career, but I don't know what to do next. I'd appreciate advice on potential career paths or what I can do. I passed my CPA exams already so I'll have my license before I leave, and I have plenty of ambition and the work ethic to succeed outside of Big 4. I just don't know where to go or how to figure out why my options are.

    submitted by /u/chewbrooka
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    Best time during the year to quit (tax in public accounting)?

    Posted: 08 Aug 2019 11:44 AM PDT

    When's the best time to dip? Trying to quit without burning bridges and overloading my coworkers once they take over my duties. Also, should I alert anyone I have any intention of quitting before doing so?

    submitted by /u/Affurss
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    What are your goals?

    Posted: 08 Aug 2019 06:58 AM PDT

    Hey guys, I don't have an amusing meme here or anything like that. Was just doing some thinking yesterday while cooking some dinner, and decided to write down my career goals just to attempt to map out my career. Currently, I am a 24 Y/O staff Accountant in the industry sector, been at my job for six months now and was thinking about the future! Curious to see everyone's career goals, no matter how far they're into it or if you haven't even gotten started.

    Senior Accountant by 25

    CPA Certified by 26

    Accounting Director/Management by 30

    Controller/Upper Management by 35

    C-Suite (I know, I know) by 40

    Open to all thoughts, and definitely suggestions to get my career trajectory more in line. Happy Friday Jr., everybody!

    submitted by /u/ohimemberrr
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    CPA Exam: Give me all your advice

    Posted: 08 Aug 2019 08:15 PM PDT

    As the title say's I want/need the best advice I can get in order to be as successful as possible passing the CPA exam.

    A little background I just crossed the 150 Credit Mark while doing my MBA that finishes in December. I would like to try and take my first exam in January/February. Company I work for is going to pay for Becker and I have considered getting Ninja for the podcasts since I have a long commute is this a good plan?

    Some question I have: What was the time between when you took your exams, how long did you study for each part, when can you confidently say you're ready?

    submitted by /u/Mr_Professor_Chaos
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    Posted on /r/gaming, but I think most of us can relate to this.

    Posted: 08 Aug 2019 11:23 AM PDT

    A few college-level Accounting questions

    Posted: 08 Aug 2019 08:07 PM PDT

    I figured out number one with the help from the kind user below.

    That said, I am a bit confused with number 2 still.

    Number 1: http://i68.tinypic.com/2efqbk0.jpg Number 2: http://i67.tinypic.com/otgsyc.jpg

    What I did was multiply 200,000 x .01, 300,000 x .05, 600,000 x .15, 300,000 x .30, and 200,000 x .95.

    After this, I summed up these numbers, which gave me the total amount that would be uncollectible....

    Then, I subtracted the allowance for uncollectible accounts of 120,000 from this number (387,000), and I got $267,000.

    Then, for part 1, my entry is: Debit: Bad Debt Expense 267,000, Credit: Allowance for Uncollectible Account 267,000.

    For Part 2, I A/R: 1,600,000 less allowance (387,000), and got a Net A/R of 1,213,000.

    Is my logic here correct? Am I answering the posed questions correctly?

    submitted by /u/MiamiMarlin
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    Overpaid incompetent bookkeepers

    Posted: 08 Aug 2019 07:10 PM PDT

    I work at a small regional firm and as such audit a lot of small businesses and organizations. The number of these places that have overpaid bookkeepers is astounding. It's so disheartening to have to literally explain to a bookkeeper things like what an accrual are and why no, you can't just give cut the owner a check for $100,000 without and consequences, and then find out they're making 60k - 80k with only a high school degree. Sure, most of these high earners are have been there 30+ years and there salary wasn't nearly so high when they started out. But, it really makes you question busting your ass to fix their books when they out earn you.

    submitted by /u/illinoisbadger4
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    Exit opps for Big4 Risk Advisory?

    Posted: 08 Aug 2019 10:12 PM PDT

    Just curious what's out there. Leaving out details because I want a greater breadth of answers.

    submitted by /u/FitCareer7
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    critique my resume please

    Posted: 08 Aug 2019 06:16 PM PDT

    I am currently going to school for a bachelors (possibly masters) in accounting. I want experience but I have no idea how to obtain it.

    Posted: 08 Aug 2019 10:01 PM PDT

    TL;DR at bottom...

    A little backstory to my situation: I've been going to college on and off for the past 9 years. I have switched my major 4 times. I took an accounting course and I immediately found my calling. It seems very simple to me and I understood it right away. I decided that this is the degree I want to pursue.

    My only problem is my work experience. For the past 3 years, I have been floating from job to job. I can't seem to stay at a single job more than a few months due to shitty employers. I just need a part time job that will follow my school schedule! I apply to countless places (even places that aren't hiring) and I only get calls back from deceptive employers who claim they will follow my schedule only to bait and switch me a month or two in.

    The last place I worked (nasty burger joint as a cashier) didn't even wait a week before scheduling me on my school days. Every time this happens, manager claims to have never agreed to my availability or says he/she will fix it and never does.

    I end up having to leave for a new job, only to have the same thing happen to me again. In the interviews I am very assertive and explain my availability with an emphasis on, "if you can't work with my schedule then I will leave." Of course I don't say it like that but you get the gist. I don't take the job unless they agree to my availability.

    These shitty jobs have caused my resume to look like shit. Because my resume looks like shit, I only get calls back from these douchebag employers!

    This endless job hunt has been one of the main reasons (other than switching my major so many times) that my schooling has been taking so long.

    I just got a new job that bait and switched me again!

    I've had it and just said fuck it, I'm going to look for part time accounting clerk/bookkeeping jobs. I can get experience and get paid while going to college for accounting. My girlfriend has a part time 9am-2pm bookkeeping job on the weekends at a hotel. I'm wondering how the hell I can land a paid internship or job like hers with my shitty resume.

    I need help guys!!

    Do you guys think going into some of the accounting firms in my town and just talking to somebody would help? Should I not even take my resume? Do you think they will give me a chance or would this be an absurd request from a 26 year old with barely any schooling in accounting? I have the drive and motivation but my resume is terrible and I just took one accounting class so far.

    Any advice would be appreciated. Thank you for your time.

    TL;DR

    Resume looks like shit, can't seem to find a job that will follow my school schedule. Looking to find a part time bookkeeping job or paid internship on weekends. Two birds with one stone: experience in accounting field AND job that will be more compatible with school schedule. Is this possible? Where do I find this?

    Edit: Sorry for the long read. I'm not sure what to do here. School is fucking me up and I've had to drop my classes more than one semester just to focus on work to pay the bills.

    submitted by /u/bbbbobsanderssss
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    Doing work without any knowledge.

    Posted: 08 Aug 2019 10:00 PM PDT

    I'm a recent NEW hire in one of the national firms.

    It's been like few weeks since I started.

    I feel like I'm not learning anything technical and just doing SALY for most of my work.

    If I start working on a new client, I don't think i could do anything with it.

    I really feel stupid especially when there is an another new hire who had like 2 public accounting internships with a lot of prior knowledge. He already has like 3x more engagement than I do right now.

    People say don't really worry about it, but I just feel like I need to do something extra to catch up.

    Did you guys feel the same way as I did when you first started? I already feel I'm behind everybody..

    submitted by /u/DonRegi
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