Accounting First years trying to go home at 5 in October |
- First years trying to go home at 5 in October
- Now I know why everyone wants a 9 to 5
- Get this woman a job as a Big 4 recruiter!
- When you finally make the move to industry
- Offers from both BDO and Plante Moran for a full time audit position. Advice on how to start off my accounting career?
- taking REG in a week
- Career advice
- When a customer returns goods to the seller, which accounts does the seller need to debit and credit?
- Passed CPA Core 1 - Thought I'd share what worked for me to pass
- CPA Exam Study Schedule
- Grant Thorton Internship?
- How long of a gap between jobs do you become unemployable?
- Failed CPA tax exam
- I Need a Simple Explanation!
- Relocating: Do I lie and say I have family in the area?
- Big 4 vs non big 4 experience and value
- How relevant is my internship in Internal Controls for working in Audit in the future?
- Recruiting advice
- Enough-to-live salary in the Bay
- has anyone taken fed taxation 1 & 2 at the same time?
- Post Your Story Of Getting Job Out of College at B4 or Top Mid Tier (BDO, RSM) Without Doing Internships
- Big 4 is overrated and not better
- FIFO ending merchandise inventory. Same question, yet on one I multiply the replacement cost of Dec 31, and the other I multiply it by June 10 purchase price. Why?
- NY NTS application
| First years trying to go home at 5 in October Posted: 12 Oct 2019 11:58 AM PDT
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| Now I know why everyone wants a 9 to 5 Posted: 12 Oct 2019 12:31 PM PDT Turns out there is no traffic when you leave at 5am. [link] [comments]  | ||
| Get this woman a job as a Big 4 recruiter! Posted: 12 Oct 2019 07:47 AM PDT
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| When you finally make the move to industry Posted: 12 Oct 2019 07:10 PM PDT
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| Posted: 12 Oct 2019 01:35 PM PDT I am currently a masters student in accounting and I just heard back from two of my top choices that I received a full time audit position with BDO and Plante Moran. I do believe that both are good firms but I am having a hard choice in deciding which to go with to start my audit career. A few pros and cons that I could think of is BDO pro: 1. BDO has a larger international presence. They have that prestige behind their name if I happen to leave the Midwest 2. More chances to work with public clients and larger clients. 3. More industries to work with to find my potential interest Cons: 1. Longer work hours than plante due to big firm. But I'm here to learn so it's not a big factor for me. Also aren't most midsize firms busy during busy season. Not sure I buy the whole work life balance thing from Plante. Plante pro's: 1. Awarded fortune 100's best companies in company culture and work life 2. Smaller firm but get to see more variety of clients year round 3. They seem to pride themselves on company culture and friendliness. (I still can't confirm this but I am trying to schedule an office visit to see if that is indeed true) Cons: 1. Only relevant largely in the Midwest. International presence is not as large as BDO. 2. Just by research, their industries and clients seem limited compared to BDO For me personally, 1. I am looking for a firm that is best to boost my career in the long run. The firm that can provide me the most experience in getting me my CPA. Opportunities to advance within the firm or transferring out 2. Compensation these 2 companies are very close 3. Location wise, not a big deal because most of my time will be spent at clients anyways. I would appreciate any feedback as I have to make a decision by November 1st the latest! Ideally I want to come to a decision by the end of next week. [link] [comments]  | ||
| Posted: 12 Oct 2019 06:56 PM PDT Hey guys, I am taking my first CPA exam (REG) exactly one week from now, and I am super nervous! I have studied over 130 hours so far, and I am planning on reviewing for a few hours a day this week too. I am doing my master's this year, so it has been a struggle getting all of my normal coursework done plus sitting down with Tim and Peter for four hours every day lol. I have taken two simulated exams so far, and I am taking another one this thursday. The first one, I got a 70 and the second I got a 75. I retook them both today and got an 87 and 94. Should I be scared? Any tips or information about the exam is much appreciated. [link] [comments]  | ||
| Posted: 12 Oct 2019 08:56 PM PDT I need some advice on how to advance my career. I am currently working for a large fund administrator focused on private equity clients and have about 6 years of experience. I genuinely enjoy the work and I am a strong performer, but the salary is lacking. What should I be doing now to put myself in the best possible position in the future? Currently 31 and working towards a Cpa (Passed 3 of 4 sections, but I do not have any public accounting experience. You do not need it in my state to get a Cpa). I can't decide whether it would be better for me in the long run salary-wise to stay in this space or to try to start from scratch in a new sector (maybe public?). Any advice would be appreciated. [link] [comments]  | ||
| Posted: 12 Oct 2019 08:52 PM PDT | ||
| Passed CPA Core 1 - Thought I'd share what worked for me to pass Posted: 12 Oct 2019 11:40 AM PDT Passed CPA Core 1 and I wanted to shared with everyone what worked for me as it's such a shit show and CPA throws you in the deep end. And co workers at my big 5 cpa firm wasn't really much help into what worked. Ok I get it.. we need to study but how. So this is my sharing my experience as it was super stressful to figure out what worked..--------------- MC Marks - Competent on FR and Audit. Competent w Distinction on Finance. Reaching Competent on Tax. Case marks - Competent w Distinction on FR and Audit. Not Competent on Tax ------------ Keep in mind it's been almost two years since my last accounting course so Core 1 was basically re-learning everything for me. My original study: - Read all Knotia textbook chapters per outline and make detailed notes on EVERYTHING - Do mandatory IP, PC, quiz as required by Friday deadline - Quick debrief of feedback from IP/PC - Purchased Densmore Competency Map to help with studying as it would sum up technical better Halfway through the program I realized my original study plan was NOT working in terms of prepping for exam. There is SO much material and the Knotia books suck!!! Read 3 pages to figure out one main point to know. The Densmore competency map is only good if you already know the material. It's been so long since I took accounting a lot of concepts were new to me or I dont remember it (RPTs, NMTs, IFRS revenue recognition, etc) So new study plan - I paid for https://www.passyourcpa.ca/technical-resources-module-students.php research. This is a binder that sums/teaches all the technical. I had a tough time between this or Densmore Core 1. But as I already had Densmore competency map I wanted to hedge my bets. Is this overkill? Possibly BUT as I said.. I dont remember any accounting from school so this was all new. Plus I suck at taking notes. Always have. Its not my strong point. I want to take notes on everything and I can't figure out what's more important than others. - I would skim through Knotia e-books - I would read the PASS instead as that summed up exactly what I needed to know in a straight to the point way. I would make flashcards on the technical that I need to memorize - I started using CPA Competency Map to look at which topics were A and B. For A topics, I would also do the PASS MC provided on top of Knotia MC. For B Topics I would only do Knotia MC. - I tried to take notes on Finance ebooks. Don't even bother. Just read once ------------------------------ To study for the test - studied all my flashcards that I wrote from PASS material - re-did all PASS and KNOTIA MC Weeks 1-5 A topics - re-did ALL Knotia MC A and B topics - re-did all PCs (10 in total..8 cases plus workshop case and practise exam case on website) - didnt bother studying tax or finance -------------------------- What I would do different / key lessons and takeaways - USE the CPA competency map to focus your studying. Don't bother studying Cs. I studied Audit regulatory framework my first week but didn't realize it was C. What a waste of time. Specifically look at section 6 and SEVEN on competency map. - I took way too detailed tax and Finance notes. Don't bother. Know tax at a higher level but don't go into details. Know how to calculate taxes payable, common adjustments and credits. But no need to dive into stuff like RDTOH. I wasted too much time studying tax in detail to only not know anything for tax - Don't even other making financing notes. All the detail on valuations.. it won't be on the test. Don't bother. Just know when to use the different valuation methods - Knota ebooks are crap. They dive so deep into topics. Test only asks for the most basic of topics. For example on leases you probably won't see sales leaseback calculations and intricacies so dont bother wasting time - Use flashcards from day 1. And the flashcards should only test the technical not theory. For example, what is Aspe revenue contact criteria. what is Aspe revenue recognition criteria. How are RPTs value. When do you recognize contingent loss under ASPE. etc.. I made all my flash cards using Quizlet which allowed me to study on my phone which is awesome. I'd BE MORE THEN HAPPY TO SHARE MY FLASHCARDS - CPA says to write PCS under exam conditions. Don't bother during the weeks. Get good at searching handbook and writing a good case. Speed only comes once you know your technical. I was taking 2hour + to write cases but after week 8 when I was doing the PCs again, since I knew my technical then I could do a case in 40 minutes - Make sure you follow CPA way for cases - Issue, Anaylize, Conclude. To make recommendations for Audit, make sure you do Weakness Implicaiton and Recommendation. For audit proceeders, use RAP. State Risk. Which assertion it hits. Which account it hits. Then the procedure. - I cannot stress the IMPORTANCE of debriefing a case. The answer provided by CPA isn't always the best answer. LOOK at the excel in detail for what CPA is looking for. For example, the excel might say that when the issue is analyzing development criteria, 4 out of 5 criteria needs to be analyze to meet competent. (plan approved, intention, resources, ability, expenditures) 3 out of 5 results in RC. They state in detail what you need to know to know. take time to understand and deep dive this - For cases CPA is looking for check marks to hit their criteria. You can spend all the time really diving into one criteria but you won't get extra marks. BREADTH not depth is the key!!! It's better if you write 5 shitty criteria then 3 good ones. I dont think there are marks for getting things wrong. They are looking for you to hit points and if you hit them you get a point. [link] [comments]  | ||
| Posted: 12 Oct 2019 10:20 AM PDT I'm thinking about starting the process for taking the exam soon and need some advice. I'm trying to figure out how many weeks/days/hours I should give myself to study for each section. I'm employed full-time at a local accounting firm, and I have two young children (4 and 5 years old). So I'm going to need to lay out a pretty strict and organized study plan for myself to make sure I can get all my studying time in. Anyone have advice/experience on how much time you allotted to studying for each section? Thanks! [link] [comments]  | ||
| Posted: 12 Oct 2019 10:02 PM PDT Sorry if this isn't the right sub for this question, but I applied to Grant Thorton and was wondering how their internships were like. What I'm most curious about is that their postings seem to say 60-100% travel on their internships. I'm assuming this means they 1. do not cover housing and 2. you don't have a single office space? I'm not quite sure what their terms are on traveling/what their internships are like and if anyone could give their experience please let me know. Thanks! [link] [comments]  | ||
| How long of a gap between jobs do you become unemployable? Posted: 12 Oct 2019 10:01 PM PDT Background: Graduated in Dec. 2019 and started my first "real job" at a national CPA firm January. I lost my job mid-June due to "not being a good fit" and it really busted my self-esteem. Long story short, I never got a lot of work (it was off-season for them) and the company was very clicky. I was planning on quitting after a year because I didn't like the place but was fired before that. I fell into a depression for 2 months and around September began studying for the CPA and applying to jobs. I havent passed any exams yet and have not gotten offers for interviews at companies I am interested in. I want to pass at least 2 exams before starting a new job. I was thinking I can pass 2 exams by January (FAR and AUD). But I don't know if I should have 6+ months of a gap in my resume though. Or should I just bite the bullet and try to get a job ASAP at any company willing to hire me? [link] [comments]  | ||
| Posted: 12 Oct 2019 09:34 PM PDT Hi , I just failed my first attempt at the CPA tax elective exam and I'm feeling horrible and don't know what to do :( I studied so hard and feel so depressed, annoyed and embarrassed. Exam was extremely tough but the pass rate is like 90% and I couldn't do it, it's not fair. I'm thinking of appealing my grade, is it worth it? Someone I also know who Marginally Passed got the exact same mark as me (NC, NC, RC), so I'm not sure if it's worth doing but I got decile rank 6. Unlikely but is it worth a try? I've also enrolled in Audit and will probably be taking both exams at the same time :( this is going to be horrible. I don't know what the best thing is to do. Need some advice. [link] [comments]  | ||
| Posted: 12 Oct 2019 09:33 PM PDT Can someone simplify the meaning of "Unrecovered Basis" for me. I'm having a hard time simplifying it mentally. TIA. [link] [comments]  | ||
| Relocating: Do I lie and say I have family in the area? Posted: 12 Oct 2019 08:59 AM PDT I'm trying to relocate after graduating and I've been applying to states all over, mostly Midwest and Rockies. Most of these states I've never been to, so when they ask if i have family in the area, do I lie and say yes, or do i be honest and say I've just been doing alot of research on the area? [link] [comments]  | ||
| Big 4 vs non big 4 experience and value Posted: 12 Oct 2019 05:25 PM PDT Do you really learn more at big 4 and gain much better accounting knowledge, as opposed to smaller firms? If so, why and what exactly makes this difference? As an example: I always hear "bigger public clients, etc", but how does that really give you more accounting knowledge when smaller firms also audit public companies. Clarify: this post is not asking about how much better big 4 is on your resume and how much prestige comes with it. This is well known and not the purpose of the question. [link] [comments]  | ||
| How relevant is my internship in Internal Controls for working in Audit in the future? Posted: 12 Oct 2019 10:22 AM PDT So, I'm interning at Internal Controls in a Global 500 Company and I intend to intern (internships work differently here, but that's not relevant for this post) in Audit in the future and hopefully make a career out of it. Usually, I test controls (check to see if they're doing what they're supposed to be doing), reperform some procedures that the Accounting department does, work with them to sort out any issues that internal or external audit found and also formalize all that stuff on a platform that we have. I also hear a lot about the COSO framework from my seniors but I'm not sure what they do with it. I'm not that familiar with the day-to-day activies in audit, hence this post. How similar is it to what I'm doing at my current internship? [link] [comments]  | ||
| Posted: 12 Oct 2019 04:54 PM PDT Just went through meet the firms and a few post MTF networking events and heard LinkedIn thrown out a few times. I was late to the game with the LinkedIn. Is it too late to make one and connect with the people I talked to or do you guys think they won't care? [link] [comments]  | ||
| Enough-to-live salary in the Bay Posted: 12 Oct 2019 08:06 PM PDT Hello everyone, please just drop some comments for a new grad here. I am from SoCal and recently graduated from UC. I've received an offer $55k annually (might increase after 1 year) for a jr. accountant position from a startup in the Bay. Do you think $55k is enough to live in the Bay myself (probably in a shared apartment)? If not, then should I negotiate the salary? And what is the salary range should be for a new grad with some accounting experiences? [link] [comments]  | ||
| has anyone taken fed taxation 1 & 2 at the same time? Posted: 12 Oct 2019 07:56 PM PDT i'm in a pickle. im supposed to graduate in the spring and my university requires us to take fed tax 1 but 2 is optional. we need to take 2 acg/tax electives and only 2 are available that semester: gov accounting and fed tax. i also have to take auditing & assurance and have no other classes required except for those. i cant just take it in the summer because of financial reasons, my financial aid requires me to be full time. [link] [comments]  | ||
| Posted: 12 Oct 2019 09:59 AM PDT Title pretty much says it all. Wanna see how prevalent this is. Wanna chop off a year in school and only way to do it is to give up chance to do summer internships. Only work experience I would have before graduating is part-time call center job, teaching assistant position. [link] [comments]  | ||
| Big 4 is overrated and not better Posted: 12 Oct 2019 07:39 PM PDT Big 4 is completely overrated. I hate how many people think being in a big 4 is so great and bash anyone else not in a big 4. I'm currently in a top 600 US accounting firm (top 85 in my area) and I know that the people in my firm are just as talented if not more so than Big 4. It's like who makes a better burger: McDonald's (Big 4) or a quality local burger joint (smaller firms). I believe that smaller firms offer better service (higher quality) since big 4 is just about churning out clients. My point is don't listen to these big 4 goons who think their firm is better when it's clearly not. Many of the kids who go for smaller firms fare actually smarter and know what they really want to do gcompared to big 4 ppl [link] [comments]  | ||
| Posted: 12 Oct 2019 03:42 PM PDT
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| Posted: 12 Oct 2019 06:54 PM PDT Is all I have to do is submit my transcripts for my NTS number? Anything else I have to submit for NY [link] [comments]  |
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