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    Accounting Hey girl, are you Kraft Heinz's Intangibles?

    October 20, 2019

    Accounting Hey girl, are you Kraft Heinz's Intangibles?

    Hey girl, are you Kraft Heinz's Intangibles?

    Posted: 19 Oct 2019 07:42 PM PDT

    Because you should write down your number

    submitted by /u/Fi--nance
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    Putting that B4 status to good use

    Posted: 19 Oct 2019 10:01 PM PDT

    Congrats to u/screwthecpaexam on having their theory featured

    Posted: 19 Oct 2019 01:52 PM PDT

    suit game

    Posted: 19 Oct 2019 07:22 PM PDT

    Can this sub get a better thumbnail pic?

    Posted: 19 Oct 2019 10:02 PM PDT

    Just recently joined this sub and I'm enjoying the diversity of different content. However, I feel the sub needs to have a better thumbnail pic to improve our image as a sub. On the mobile app, I see the default Saturn symbol; on mobile browser, I see a general ledger entry for karma and submission that is very hard to see (though it varies on mobile browser between Saturn and GL depending on if I use desktop view).

    Can we improve to something readable yet makes sense for this sub? I tried thinking of some ideas but none would really fit this sub or be easily identifiable in the thumbnail. Only feasible one is a magnifying glass in the center blowing up some numbers from a paper.

    (Would also like to suggest a 'meta' flair for posts/questions that relate to this sub and its operations)

    submitted by /u/iloveciroc
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    WOW

    Posted: 19 Oct 2019 03:41 PM PDT

    What would be a good idea for an accounting themed tattoo?

    Posted: 19 Oct 2019 08:52 PM PDT

    Every season I tell myself I will quit!

    Posted: 19 Oct 2019 10:09 PM PDT

    But I never do...

    submitted by /u/taxislife
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    If I get an accounting degree can I not become an accountant?

    Posted: 19 Oct 2019 04:03 PM PDT

    I want to do more like FP&A and Financial analyst if I get a business degree before I go and get an MHA. I heard accountants can do finance jobs but finance jobs can't do accountant jobs so I think I would be safer with an accounting degree to do finance related jobs (Which is what interests me more)

    submitted by /u/Erahia01
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    Inventory Counts Make Me Rethink This Job

    Posted: 19 Oct 2019 02:23 PM PDT

    Just finished with my second inventory count in a week and good god they are miserable! The instructions are always super vague, the people from the warehouse that are supposed to know the most about the inventory are never there, and there are ALWAYS errors. Not to mention you never get a break so half way through you're tired and starving.

    submitted by /u/vic8599
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    CPA PEP Tax elective

    Posted: 19 Oct 2019 09:24 PM PDT

    who else is really nervous for this one?

    submitted by /u/legochocolate
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    What positions should I be applying for in the Big Four?

    Posted: 19 Oct 2019 08:56 PM PDT

    Can you guys please take a look at my resume below and tell me what I should be looking for when applying to Big Four positions? Apologies if some of it doesn't make sense, I erased personal info.

    ​

    https://drive.google.com/file/d/1AC8xXNhUtH0q9KnUpDZGMGU0cBvzd9Ru/view?usp=sharing

    submitted by /u/FluxNinja
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    Question about lateral moves in public accounting

    Posted: 19 Oct 2019 06:19 PM PDT

    Hey everyone, I was wondering how lateral moves work in public accounting specifically at big 4. I know promotions at a lot of the mid-tier firms (RSM, BDO, GT) are much faster and have seen someone make manager in as short as 3 years. I was wondering if someone could start their career at one of these mid-tier firms and then when they become manager in 3-4 years if they can lateral to big 4 as a manager? Does big 4 look at years of experience when hiring for managers or for previous titles? Thanks!

    submitted by /u/darnimised50
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    ELI5: Lehman Bros. Repo 105/108

    Posted: 19 Oct 2019 12:42 PM PDT

    I'm writing a paper on an accounting scandal and have chosen Lehman Bros. What I'm stuck at though is how Lehman got the idea to skirt around a specific section of FASB. To classify repos as sales rather than loans Lehman's was selling their repo at $100 when it was really worth $105.

    In trying to explain why this would be considered a sale I came across paragraph SFAS 140, Paragraph 218: " Judgment is needed to interpret the term substantially all and other aspects of the criterion that the terms of a repurchase agreement do not maintain effective control over the transferred asset. However, arrangements to repurchase or lend readily obtainable securities, typically with as much as 98 percent collateralization (for entities agreeing to repurchase) or as little as 102 percent overcollateralization (for securities lenders), valued daily and adjusted up or down frequently for changes in the market price of the security transferred and with clear powers to use that collateral quickly in the event of default, typically fall clearly within that guideline. The Board believes that other collateral arrangements typically fall well outside that guideline.

    I don't understand the 98% collateralization or 102% overcollateralization. Can someone please dumb it down for me? Did they focus on the 102% overcollateralization part? Meaning the 5% in 105 was arbitrary; they could've sold repo 102.1, 2.1% overcollateralization, and still met the threshold to "fall well outside that guideline."

    I don't get how this paragraph then made it ok to sale repos at below face value and have it constitute a sale and not a loan.

    Thanks for any help

    submitted by /u/Sleapless
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    Anime in public accounting??

    Posted: 19 Oct 2019 11:20 PM PDT

    Will I be ostracized if i talk about it? Do you any of your peers (esp. B4 audit) that have a passion for anime?

    Also during interview if they ask me "what do I do outside of school" is it okay to answer I watch anime?

    Thanks

    submitted by /u/FapGod8888
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    EY People Advisory Service (PAS) Final Round - Advice/Information

    Posted: 19 Oct 2019 11:05 PM PDT

    I know EY's PAS isn't entirely accounting but looking for any advice in general (esp. from people who've applied/gone through the process for any advisory position in EY)

    Currently a college junior who received a final round for EY's PAS intern position for this upcoming summer: I'm super excited since HR consulting/human capital management is what I want to go into as a full-time career.
    It seems as though EY's PAS division is still relatively new, so I was looking for more insight about the department/position - not really looking for any specific information, just looking to get a better sense of what PAS is like.

    In addition, does anyone have any advice on final round interviews? This is my first one: I was rejected after my first round from Deloitte (Human Capital Consulting) and KPMG (Forensic Advising), so I'm a little nervous about this final round: I really want the position but am not too sure why my other interviews have gone sour. Any general advice (or specific to EY's final rounds) or general words of encouragement is greatly appreciated!

    submitted by /u/cowardlcourage0
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    Online University (Job Prospects?)

    Posted: 19 Oct 2019 04:19 PM PDT

    Hey guys! I could use some advice as I am entertaining the idea of changing my major to accounting. I am a Political Science major (Yes, I know) with 82 credits to my name. I am an older learner (26), and I also work full-time in retail, which is why I attend college online. When I first started going to school, my family encouraged me to get an education. I was advised to get a degree regardless of the subject area and so I chose Political Science because I enjoyed the topic. Now that I have been in school for awhile I am worried about my future prospects and am considering changing to something more practical.

    The school that I am currently attending (Thomas Edison State University) offers a BSBA degree in Accounting and if I was to switch into it I would have 56 credits left to graduate. I have talked with the school about the program and I was told I can take another 21 credits from my local community college to cut down on costs. Additionally, I want to add that factoring my previous education I will have enough credits to qualify for a CPA after I finish the program.

    My big concern is what will my job prospects look like if I attend college online? I was hoping I could try and find internships in the Philadelphia area after a semester or two of accounting courses, but I am not sure if that goal is realistic. Any insights would be greatly appreciated!

    submitted by /u/Selbran
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    Healthcare industry in NYC? Wanting to move to the NY.

    Posted: 19 Oct 2019 09:48 PM PDT

    Hey guys, I've been working in audit for a little over a year in one of the top regional firms in Nashville, TN. Needless to say because of Nashville's booming healthcare industry, I've been only working on healthcare clients and I actually really enjoy the industry. I've done very well for myself, and so (with the lovely help of understaffing like any other firm) I will be in-charging all of my jobs this busy season. I'm wanting to make a move to NYC next summer once I make senior. I'm wondering if any of you have any insight on what it's like to try to land a spot in public doing healthcare audit in NYC as a senior. Is it hard? Easy? Or any insight on what it's like to get into the NYC market after starting out elsewhere.

    Any thoughts or advice is appreciated.

    Thanks!

    submitted by /u/islander100
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    Tick-and-tie dictionary definition

    Posted: 19 Oct 2019 09:46 PM PDT

    Just curious

    Posted: 19 Oct 2019 09:26 PM PDT

    So I am a Canadian currently pursuing my CPA in Canada and always wonder what the difference is in the States like what do you do after you graduate college what is the CPA like in the states? Also when is LIFO applicable as it is not taught here in Canada...

    submitted by /u/legochocolate
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