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    Home Unlabelled Accounting Could be worse, but not by much

    Accounting Could be worse, but not by much

    October 24, 2019

    Accounting Could be worse, but not by much

    Could be worse, but not by much

    Posted: 23 Oct 2019 05:57 PM PDT

    Thanks, Uncle D! Just what I needed!

    Posted: 23 Oct 2019 06:28 PM PDT

    accurate

    Posted: 23 Oct 2019 03:20 AM PDT

    So EY is in the news...

    Posted: 23 Oct 2019 08:33 PM PDT

    When the interviewer asks "what's 1+1?"

    Posted: 23 Oct 2019 10:21 PM PDT

    Accurate

    Posted: 23 Oct 2019 08:00 AM PDT

    Do auditors find tax people attractive?

    Posted: 23 Oct 2019 08:46 PM PDT

    I saw an audit intern across the cafeteria today and I'm a tax intern. I thought she was very pretty.

    Do you think it's a turn off that I'm in tax?

    Do you think I can't compete with other audit interns around her? (The audit interns are very fratty and chad-like)

    Any hookup stories with audit and tax ppl?

    submitted by /u/FapGod8888
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    'BUT WE GAVE YOU THIS AUDIT EVIDENCE LAST YEAR'

    Posted: 24 Oct 2019 06:54 AM PDT

    HOTCPA's soulmate works for PwC

    Posted: 24 Oct 2019 06:18 AM PDT

    When I think I fixed everything on my 990

    Posted: 23 Oct 2019 10:16 AM PDT

    Firm Owner Here- Recruiting Advice

    Posted: 24 Oct 2019 02:51 AM PDT

    A few years ago, I bought out a small firm with the idea that the long - term path to success was to to value my employees. Fast-forward to now and firm revenues have doubled and I've got proposals on my desk for jobs I can't even accept because I don't have enough staff. I currently need a superstar with 3-5 years experience to grow.

    1) I offer the same salary range that other regional/local firms offer (I make sure you're getting a raise to come work for me)

    2) You can get your overtime back (40 hour average work week) or you can get it bonused.

    3) Overtime is capped at 55 max and we strive to keep it sub-50 (and that's for a max of 12 weeks)

    4) I give a partnership option at 2 years & hitting a realistic revenue growth (and will put that in the employment contract)

    5) We have, I believe, the best tech stack of any local firm (major metro)

    6) I'm actually trying to fix "the problem" by making less now, retaining good staff, and having that translate into increased efficiencies/superior client service.

    7) Responses--I'm told we're "too small"

    8) My office is in a shopping center (so "not sexy") but it's cheap and I have enough offices in there to double once more before moving. It's not "time" to sink money into a high-dollar lease.

    9) We do tax/CAS/audit- the audit side is high-growth right now.

    10) I need a very good auditor that can help on the other side seasonally

    Now, I can't fix the small part without growth and I can't grow any further without my next key employee. What do you think I've got wrong? Surely, my offering is attractive but we don't have international/regional/local name value but our development side is snowballing.

    What's my package missing?

    submitted by /u/MemphoCPA
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    Me 2 weeks into a grad job with no prior accounting experience

    Posted: 23 Oct 2019 09:20 AM PDT

    Applying to jobs

    Posted: 24 Oct 2019 04:58 AM PDT

    So I'm in my last year of uni and people start applying for jobs around October for the next year. Uni gives me 9 exemptions for ACCA and so I'm planning to get a job with a company which can help with getting certified. I don't know anything about how this stuff works tbh and I don't know who to talk to either. When looking for jobs am I suppose to apply to a graduate scheme for ACCA or what? Any help would be appreciated I'm so confused

    submitted by /u/throwaway8383ir
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    Do you enjoy the career path you have chosen? Can you genuinely say that you are happy with your choice to be an accountant (or other closely related job)?

    Posted: 24 Oct 2019 04:20 AM PDT

    As a business major considering majoring in accounting, I was wondering if you all truly enjoy your choice to be an accountant. I have struggled in accounting but I've still been doing well in my current managerial accounting class and it has made me think that I should consider majoring in accounting.

    I know that the pay is generally considered pretty well but I wanted to know your honest opinions about the major and if you think it's worthwhile for me to pursue it even if I'm not too terribly interested.

    submitted by /u/DuckDuckNope
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    Do accountants get pls fix thx emails?

    Posted: 23 Oct 2019 10:31 AM PDT

    Interview Question - general and tax technical question to ask

    Posted: 24 Oct 2019 05:11 AM PDT

    I am going to an interview at Deloitte for a manager position later this afternoon. Currently working at pwc tax as senior.

    What are the best questions to ask during the interviews?

    What are tax technical questions you can think of - this question is really for our tax specialist friends

    Any suggestions?

    submitted by /u/straightoldman
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    Must I depreciate all tools with a lifespan longer than a year? Even a $2 screwdriver

    Posted: 24 Oct 2019 05:11 AM PDT

    I run a small business and typically track larger fixed assets but small hand tools seem to be a gray area to me. Do I need to depreciate a $10 hammer over seven years or can I just write it off the year I buy it? I have been doing it one way for years now but I have always been curious.

    submitted by /u/cu29co
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    Accountant clapback

    Posted: 23 Oct 2019 05:41 AM PDT

    Got rejected from 2 b4 companies

    Posted: 24 Oct 2019 04:51 AM PDT

    Blessing in disguise?

    submitted by /u/acc0333
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    MSI for audit & accounting?

    Posted: 24 Oct 2019 04:18 AM PDT

    Hey guys I am about to graduate with a major in Audit & Accounting and in the past I've heard that Management of Information Systems is something that can be combined with Audit & Accounting, however I have no knowledge o MSI whatsoever, would you advise to take this as a Master's course?

    submitted by /u/tanevvski
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    Job searching for entry level Accounting positions are brutal

    Posted: 24 Oct 2019 12:31 AM PDT

    I graduated 5 months ago with my BS and I still haven't been able to find any Accounting related jobs. My GPA was barely above a 3.0 and I've only had one job during my college years. I haven't done any internships and I know I fucked up, but the requirements for these job postings act like I need to be a superstar willing to accept minimum wage and get paid peanuts. They say I need 1-2 years of experience in Accounting jobs, but how can I get experience when it's impossible for me to gain it? I'm currently working a part time retail job and it feels demoralizing each day that passes.

    submitted by /u/2point9AIDSBOW
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    Financial Analyst vs Due Diligence

    Posted: 24 Oct 2019 07:12 AM PDT

    Greetings dear Seniors :D

    I am currently training ( Co-op program to graduate this semester ) at a Growth Capital family office that targets new opportunities.

    My senior who trains me told me that we are going to be heavily focused on rhe buy side DD (Due Diligence). Semi Weekly we receive memos from start up or growth companies for investment purposes. Then we review it and do our Due Diligence part of job.

    My question is: Since I am planning to have a financial analyst career path, does this kind of work really test my abilities as a financial analyst?

    and to be honest, I am not really fond of this kind of job until now (1 month, 2 weeks experience) and I am questioning if I am not thriving on this kind of job and being unexcited about it, does that show a negative indicator to my financial analyst's abilities or promises? or is it not necessary to be able to execute good DD and feel like it's second to nature to you in order to be good financial analyst.

    I would Appreciate your replies and advises
    (Sorry for my poor English, I am not a native speaker)

    submitted by /u/Rankor123
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    Email from EY US Chariman - RE: negative media coverage of EY stemming from our “Power – Presence – Purpose” professional development program

    Posted: 23 Oct 2019 11:01 AM PDT

    To: Our EY Alumni

    From: Kelly Grier, US Chairman and Managing Partner and Americas Managing Partner

    I am writing to offer my perspectives and share what we have learned following recent negative media coverage of EY stemming from our "Power – Presence – Purpose" professional development program. Let me start by saying how deeply I regret the negative association that this program has had on EY in the media, and to acknowledge that mistakes have been made.

    As I share in this video message, this program was developed several years ago by an independent consultant. The program, which was voluntary for a small group of our high potential women professionals, was designed with the best of intentions to facilitate their personal and professional development so they could achieve their full potential – indeed those who participated found it highly valuable.

    While much of the program content was of high quality and not controversial, unfortunately a small portion of the program content was entirely inappropriate. Those segments demonstrated dated perspectives and research that reflect neither EY's values nor culture, and have no place in our programs. To be clear, this program should never have been offered to our women with this disturbing and offensive content. When I learned of this troubling content, I directed that we immediately cancel the program.

    It goes without saying that beyond canceling this program, we needed to take strong remedial steps to be confident this situation would never happen again. What we found was that our standard review processes for program content were not followed with this program –because the program was intended for a small audience rather than a firm-wide initiative. In fact far less than 1% of our women – approximately 150 in total over a five year period – participated in the program. This was a highly unfortunate breakdown in our processes. Had the program been subject to our standard review, there is no question that the objectionable content would have been removed and replaced with other EY-supported content that would have enhanced the other positive aspects of the program.

    At my direction, we are undertaking a comprehensive review of our processes and controls around program content, along with a review of our relationships with consultants in this area and an annual review of program content to be sure it remains relevant and current – and most important, that our programs are entirely consistent with our culture, values and beliefs.

    The women of EY thrive because of the strength of their character, the authenticity they display and their capabilities. We value and celebrate the differences of our people and do not advocate conformity among our people. We are incredibly proud of our women and our longstanding commitment to diversity, inclusion and creating a culture of belonging for all.

    Many members of our EY family have reached out to me directly to express their outrage at the characterization of our firm and our culture resulting from this media coverage. They have also asked for answers in how this content could have been delivered in an EY program, given how antithetical it is to our culture and we have shared openly with them what went wrong and what we are doing about it. Above all, they have told me that they want the world to know that our culture of belonging is truly special, that in so many ways we set the standard of inclusive leadership and celebration of diversity. The extent to which we have taken bold leadership steps in celebrating diversity – for our women, for our neurodiversity professionals, for our LGBT+ family, for our veterans, for our people of color and those with disabilities, for our working mothers and fathers, for those with unique cultural and economic backgrounds, for all our people – is a unique but enduring aspect of who we are. It truly defines EY and I share in their pride of our culture and our great firm.

    I can assure you, EY will continue to set the standard for a best-in-class culture and work environment and we remain absolutely committed to providing equitable access to sponsorship and development opportunities that support the growth and enablement of all our people.

    Kelly Grier US Chairman and Managing Partner and Americas Managing Partner

    EDIT: Kelly Grier Statement

    Huffpost article re: Power-Presence-Purpose

    submitted by /u/Coontaing
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    What’s with all the acronyms in accounting?

    Posted: 23 Oct 2019 11:16 PM PDT

    CPA, CIA, CMA, CGMA,FASB, AICPA, IAASB, ASA ect. Fucking cool it bean counters we sound like Rain Man with a scramble set

    submitted by /u/JackMichael2314
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