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    Home Unlabelled Accounting Guideline Reminder - Duplicate posting of same or similar content.

    Accounting Guideline Reminder - Duplicate posting of same or similar content.

    October 26, 2019

    Accounting Guideline Reminder - Duplicate posting of same or similar content.

    Guideline Reminder - Duplicate posting of same or similar content.

    Posted: 30 Oct 2018 07:33 PM PDT

    Hi everyone, this reminder is in light of the excessive amount of separate * 10/26/19 Edit: "kool aid swag" "waffle/pancake" threads that have been submitted in the last 24 hours. I had to remove over a dozen of them today as they began taking over the front page of /r/accounting.

    Last year the mod team added the following posting guideline based on feedback we received from the community. We believe this guideline has been successful in maintaining a front page that has a variety of content, while still allowing the community to retain the authority to vote on what kind of content can be found on the front page (and where it is ranked).

    __

    We recommend posting follow-up messages/jokes/derivatives in the comment section of the first thread posted. For example - a person posts an image, and you create a similar image with the same template or idea - you should post your derivative of that post in the comment section. If your version requires significantly more effort to create, is very different, or there is a long period of time between the two posts, then it might be reasonable to post it on it's own, but as a general guideline please use the comments of the initial thread.

    __

    The community coming together over a joke that hits home, or making our own inside jokes, is something that makes this place great. However, it can be frustrating when the variety of content found here disappears temporarily due to something that is easy to duplicate turning into rehashing the same joke on the entire front page of this subreddit.

    The mods have added this guideline as we believe any type of content should be visible on the front page - low effort goofy jokes, or serious detailed discussion, but no type of content should dominate the front page just because it is easy to replicate.

    submitted by /u/potatoriot
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    free Halloween costume

    Posted: 26 Oct 2019 09:00 AM PDT

    Literally everyone

    Posted: 26 Oct 2019 12:36 PM PDT

    I think I'm going to file sexual harassment charges

    Posted: 26 Oct 2019 04:56 PM PDT

    against NASBA for that brutal assfuck called FAR. Holy shit that was intense.

    submitted by /u/DisregardedAccount
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    YoU dOnT sAy?

    Posted: 26 Oct 2019 01:57 AM PDT

    But the door is locked! And the only way out is through the...Gearty department!

    Posted: 26 Oct 2019 04:03 PM PDT

    Access Xero APIs with Python using OAuth2

    Posted: 26 Oct 2019 08:42 PM PDT

    [CAN][CFE] CFE 2019 and PERT rants

    Posted: 26 Oct 2019 10:46 AM PDT

    I used to tell people to just hang in there and patiently wait for what CPA is going to do with all the issues with this year's CFE. I still didn't receive the email about the delayed results which I think is super dumb. When my coworker told me it got delayed, I felt like I don't care anymore. Like I felt nothing. Is it just me? I felt like me going through hell last summer was just a joke and now I just don't care. I am just so disappointed that it made me feel numb now. Lol.

    I mean, thanks CPA for the update but care to tell us what you're actually investigating?! What are the updates of the investigation itself? Why do they need forever to figure shit out? How the hell can they investigate cheating? Will them investigating change the fact that our Edmonton writers and all writers affected (which includes myself) suffered so much? At then end I felt like they will just say all is well, nothing's wrong really.

    I am also disappointed about my PERT. I waited 20 fucking weeks for it to be reviewed and I didn't even received any apologies. When I try to follow up, the admin or whoever was not happy that I am following up and won't even apologize. Then I finally received the result of the review 2 weeks ago and needed to tweak it for some dumb unnecessary stuff, which I did right away. Surprise surprise, my PERT has not been looked at yet again.

    I am just disappointed and felt like I am being treated as a joke. Their emails (which cannot even be sent to everyone properly) sounded so generic, no empathy, these folks are not even admitting to their own bullshit.

    I am so sorry for all of us. But hey, let's try our best not to think about it and enjoy the last two months of the year with our family and friends. I am a firm believer of everything happens for a reason. I know this is the hardest but know that you're not alone! We're not alone! I am just gonna stay happy, not think about the exam, and just enjoy the upcoming holidays. Virtual hug to everyone!

    submitted by /u/krungy7
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    Does it ultimately matter what university you go to?

    Posted: 26 Oct 2019 05:56 PM PDT

    Where I live there is quite a prestigious university here in the matter of sciences, engineering, which offers a BCom for accounting e.t.c but there is also a Polytechnic school focused on business and trades specifically but offers a BBA in accounting though it's quite a bit cheaper aswell. Would an employer look down on your resume if you went to the latter? Or is experience the ultimatum here? I'll be having to make this decision within a year or two. Thanks.

    submitted by /u/BlckKnfe
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    Can someone help me how you calculate the first part?

    Posted: 26 Oct 2019 05:50 PM PDT

    What was your nightmare engagement?

    Posted: 26 Oct 2019 06:56 AM PDT

    Since halloween's coming I thought it'd be appropriate to read up on scary shit

    submitted by /u/crobat3
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    Tax Question

    Posted: 26 Oct 2019 06:58 PM PDT

    I believe the answer should be $6,000. Since the divorce took place prior to 2019, they are grandfathered in to what the previous ways were. The $6,000 paid to her would count as alimony and prior to 2019 that would count as income to the receiver. The $6,000 paid to the school would count as a gift, right?

    ​

    Fred and Wilma were divorced in year 1 (before 2019). Fred is required to pay Wilma $12,000 of alimony each year until their child turns 18. At that time, the payment will be reduced to $10,000 per year. In year 3, in accordance with the divorce agreement, Fred paid $6,000 directly to Wilma and $6,000 directly to the law school Wilma is attending. What amount of the payments received in year 3 is income to Wilma?

    1. $6,000
    2. $10,000
    3. $12,000
    4. $0
    submitted by /u/CannoliKing2019
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    Under GAAP, when can I adjust the value of goodwill?

    Posted: 26 Oct 2019 10:13 PM PDT

    I'm very curious...

    submitted by /u/Aerodynamics333
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    Finally got an offer for a big 4 internship, but I'm kind of unsure

    Posted: 26 Oct 2019 02:22 PM PDT

    I recently got an offer for an FSO tax big 4 internship. I think that I would enjoy tax more than audit, but I still care about exit opportunities. I heard that when it comes to tax, the exit opportunities are very limited and they're mostly tax related. I also heard that the salary progression from tax will mostly come from staying in the big 4. I don't see myself working those long hours for 10+ years. I feel like I chose tax because learning about tax codes and rules would be a good skill to have. I know some tax people want to start their own tax practice some day, but that isn't something I want to do.

    I don't see myself doing tax my whole life. I want to be able to branch out to something that consists of coding and financial work. Maybe even consulting, who knows. Can someone give me advice? Or if any FSO tax people could chime in that would be great!

    submitted by /u/big4intern423
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    Not getting any callbacks for A1 position - Help?

    Posted: 26 Oct 2019 11:03 AM PDT

    Hi all,

    I took basically a gap year after my master's to try my dream job of streaming video games full time. I had fun and found some decent success, but I decided it's time to get my accounting career started. I have some savings and can live comfortably for a while without working but would like to find a job ASAP.

    I've started applying to audit associate (A1) positions at a bunch of public accounting firms, but I haven't gotten any callbacks/interview requests. With my master's and all 4 CPA exams passed, I feel like I should at least be getting some initial interest. Maybe there's something wrong with my resume?

    Here's my resume for anyone willing to give it a once over. Any advice or insight (especially from recruiters) would be appreciated.

    submitted by /u/V_the_Victim
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    Anyone have an opinion on CPA license going "inactive"

    Posted: 26 Oct 2019 08:56 AM PDT

    I spent 3 years working in accounting, near the end of which time I got my CPA license. I decided to go back to school and get an MBA, which ultimately led to a new job in a new industry. Now I am a strategy consultant for a tech firm and don't use my CPA at all. I am coming up on my first renewal and because what I do for work is so unrelated to accounting my firm is not reimbursing me for any CPE or renewal costs.

    I was looking into designating my license as "inactive". I can't find much info on my state board's website so I was going to call Monday, but I have read in some states if you want to switch the license back to "active" down the line you have to make up any missed CPE hours. I honestly don't see myself ever going back to accounting, but I know the market for jobs is pretty solid and if one day I find myself needing to find a new job I would like to keep my options open. Would you recommend continuing to spend the time and money to keep it as an active license, or let it go inactive?

    submitted by /u/bro_mo_sapien
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    Need Help Deciding between KPMG and PwC Full-Time Tax Associate Offer

    Posted: 26 Oct 2019 05:27 PM PDT

    I just wanted to ask if you guys could give me an inside perspective on the differences between KPMG and PwC (Business Tax Service Line). KPMG is offering a higher salary (5k more) compared to what I was offered from PwC. However, I felt like I had a somewhat better connection with the PwC interviewers. I'm assuming that I'd be doing the same type of work and be bound to long work hours regardless, so I might as well take the higher salary. However, I'm still unsure on which to choose. Are there substantial differences between the two companies? Differences in Work/Life Balance? Promotions? Prestige? I have 1 week to make my decision, so any information would be helpful!

    submitted by /u/CuteGirl6Pack
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    Joining big 4 or public firm at senior level or higher

    Posted: 26 Oct 2019 01:39 PM PDT

    Hey everyone,

    Is it possible for someone to start in industry, get their cpa and then transfer to a big 4 or public after a couple years and join in as a senior/manager ? I know the common path is public to industry but does it work both ways? Thanks

    submitted by /u/accofinathrowaway202
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    First time closing year end as a Controller - ranting

    Posted: 26 Oct 2019 05:05 AM PDT

    Finished yesterday and now I'm up at 530 AM from the stress after shock. My prepaids ledger is a train wreck from all the errors and corrections, the CFO thinks I'm and idiot, and I'm sure the auditors will think I'm completely incompetent....or fraudulent. I'll probably end up in jail. I didn't get financials out to the department managers like I wanted to because my software printing format got screwed up somehow, and bonus scores are due on Tuesday. I hate infinum. What did I even learn in college? I feel dumb. Rant over.

    submitted by /u/garbagepencil
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    An Accounting Prodigy

    Posted: 26 Oct 2019 07:00 PM PDT

    While it may be frowned upon in certain circles, it's well known that some families "groom" their kids at a relatively early age to excel at niche areas in life. Sports (Tiger Woods) are a common example where the child would be made to play a sport of the parents choosing almost exclusively, giving them a massive advantage over their peers later in life. This also extends beyond sports to things such as music, art, etc..

    That being said, I think it would be cool to do the same to my future child with accounting. I'm thinking of teaching them the accounting equation right from the start and focusing on accounting over other subjects throughout his life. I will introduce him to various ERP systems and make sure he has all codification memorized before even starting school. The kid can even start going to work with me in his teen years to see how the accounting world functions in real life.

    I feel this will result in him potentially becoming the greatest accountant that has ever lived. I would venture to say that the vast majority of current accountants start their accounting knowledge acquisition in college and are only mildly competent by the time they start working. My kid would have such an immense advantage over everyone that he would go down in accounting lore as a legend.

    Let other parents focus on sports or music and have their children compete with thousands of others in an endless pool of clones. My child will be busy taking the accounting world by storm 🤓

    submitted by /u/Quik_17
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    Would you advise against studying for/taking CPA exams whilst working on a master’s degree?

    Posted: 26 Oct 2019 06:48 PM PDT

    Is my approach complicated and wrong? It worked for the other invetory calculations

    Posted: 26 Oct 2019 06:45 PM PDT

    Honest question, is it supposed to be this hard to find a job after graduating college?

    Posted: 26 Oct 2019 11:05 AM PDT

    I might go to a recruiting agency at this point. I've applied to over a hundred places and a good majority don't respond back. When I do get a response for an interview, I don't get an offer.

    submitted by /u/acc0333
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    Does lifting personal bank secrecy actually reveal any money laundering?

    Posted: 26 Oct 2019 11:04 AM PDT

    Currently in my country Lebanon huge anti-corruption protests are going on.

    Today a few politicians from one of the ruling parties announced that on Monday they will release documents foregoing their banking secrecy on their accounts in the country and abroad.

    I am uneducated regarding the world of accounting and finance as many others in these protests are, so I was wondering if anyone can shed some light on this step and whether it is enough to reveal any corruption/money laundering. Also since many also mentioned they will also have their immediate family lift theirs as well (spouses & children).

    I know that many of them probably have the bulk of the cash actually invested, so would also lifting the secrecy make those investments traceable? and would lifting secrecy only actually lift it for some accounts and not necessarily any account they have?

    We would be very grateful if someone could take the time to explain what lifting the banking secrecy actually mean for these politicians and for us the people.

    ​

    Thank you :)

    submitted by /u/AmazingSystem
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