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    Accounting Poo time

    October 27, 2019

    Accounting Poo time

    Poo time

    Posted: 27 Oct 2019 11:53 AM PDT

    "Hey guys, be mindful of the budget"

    Posted: 27 Oct 2019 04:58 PM PDT

    When my girlfriend texts me while I’m at work

    Posted: 27 Oct 2019 09:10 PM PDT

    Google, how to use IF function and Vlookup formula?

    Posted: 27 Oct 2019 08:40 PM PDT

    Financial gain of CPA

    Posted: 27 Oct 2019 04:48 PM PDT

    All of you that have your CPA's was it worth it at the end? I'm currently in public accounting and in core 1. I want to get my cpa designation because it will make me more valuable in the workforce and I'll likely leave public accounting once I get my designation. After obtaining your CPA did you see a large pay increase when you left public accounting ?

    submitted by /u/Mrblue141
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    My Brother Just Roasted Me...

    Posted: 27 Oct 2019 08:03 PM PDT

    GT vs Moss Adams Internship

    Posted: 27 Oct 2019 03:43 PM PDT

    I am considering multiple summer internship offers with mid-size and regional firms in the Orange County area. I am anticipating a full-time offer with the chosen firm at the end of the internship, so this is why I'm putting so much thought into making my decision.

    I have compiled a list of Pros/Cons, but find that I like each firm for different reasons: https://imgur.com/a/baN5llG

    My preferences have narrowed it down to 2 firms: Grant Thornton and Moss Adams. I feel naturally drawn toward MA's culture, but have gotten along with GT's people as well.

    Obviously I can't go wrong with either choice. Yet, those whom I've asked have all recommended going GT over MA for the prestige and mobility offered with the GT name on my resume. I'm worried that this will come at the expense of work-life balance, which has been emphasized by MA.

    Should I expect to work the same amount of hours no matter where I go? Has anyone had experience at either firm in the OC area, and can offer some non-biased insight into culture, workload, and other expectations in these particular offices?

    submitted by /u/shibbolethmoodle
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    Jobs outside the scope of public accounting

    Posted: 27 Oct 2019 09:17 PM PDT

    I am currently a third year student at the University of Nevada, Reno. My plan is to dual major in accounting and finance. I have really been enjoying the challenge of accounting, however I don't want to settle into a career of being a CPA or working for Big 4. What other finance careers seek to ultilize accounting knowledge?

    Thank you!

    submitted by /u/dennisrodmanmuff79
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    Passing accounting class but not learning anything

    Posted: 27 Oct 2019 06:34 PM PDT

    Accounting IS has been the most boring class I've had to take in my college career. The SUA project is the worst and I'm getting by without knowing how to do it because the exams are purely conceptual. I took managerial accounting a while back and that class was hard but still felt like I learned stuff, whereas with AIS I feel like the answer to every question is Segregation of Duties.

    My question is: Will I be significantly impacted when I start public accounting if I don't learn anything from AIS? I'd imagine most people forget about 90% of Int 1 and 2 by the time they graduate so would there be any harm in me not learning anything and getting a B or B-?

    (I've done well in Int 1 and 2 and my other accounting classes)

    ​

    EDIT: Is AIS in any way close to what Risk Assurance or Risk "Advisory" is? Because if so, I now know where I will NOT end up in Audit B4

    submitted by /u/undeergrad
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    Rejected twice by RSM

    Posted: 27 Oct 2019 08:35 PM PDT

    I interviewed for their Chicago location and got a rejection email 11 days ago, and another rejection email just now what the fuck

    submitted by /u/JLou98
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    (Class Assignment) I need to “interview” at least 2 accountants with these 7 questions below. Feedback of any length is appreciated.

    Posted: 27 Oct 2019 06:01 PM PDT

    Please tell me what your position is with your company and what company you work for if possible. Thank you!

    Do you ever prepare, use, or review budgets in your position?

    Do you ever have to look through financial information related to taxes, revenue, expenses, net income, or product costs and profitability?

    Do you work with inventory in any way?

    Is it important for you to know how much it costs your company to provide one product or service?

    Do you ever read financial information of any kind (i.e. statements received in the mail) for personal or professional reasons?

    How often do you meet face to face with organizational managers or individual clients?

    What kind of accounting information do you send or receive from these people?

    submitted by /u/jackaquack
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    Any cool VBA creations for public accounting?

    Posted: 27 Oct 2019 05:58 PM PDT

    Hi all,

    I'm learning VBA and have done some cool stuff for my industry internship that I can't use anywhere else. I just started in public tax, so I was wondering if you guys have created anything for your job in public that I might be able to take inspiration from.

    Thanks!

    submitted by /u/smcamero
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    How to Account for Bad Inventory (Involves FRUAD/PENDING LAWSUIT)

    Posted: 27 Oct 2019 03:05 PM PDT

    Hello - entrepreneur/business owner here who majored in accounting but never worked as an accountant. I do have a decent understanding of accounting in general but I did not think this qualified as damaged goods or obsolete inventory.

    I own an essential oil manufacturing company where we buy lavender plants and extract lavender oil from them. We sell the oil in bulk to health and cosmetic manufacturers.

    A few months ago I purchased lavender from a vendor I had not used in the past. The transaction totaled $108,500. When the product was delivered... it contained only stems, and NO flower. The company refused to refund us and we are currently suing them for fraud and misrepresentation. It is unclear at this point if and when we will settle.

    My question is how do I account for this transaction? I currently have it sitting in our lavender raw materials current asset account. But the materials are unusable and useless.

    I truly appreciate any help. Thanks!!

    submitted by /u/wilmingtonpatriot
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    ELI5 the new revenue recognition rules

    Posted: 27 Oct 2019 04:09 PM PDT

    I have sat through 2 CPEs on the new revenue standards and I still don't understand what's new here or why this is a big deal and at this point I am too afraid to ask anyone besides Reddit

    submitted by /u/revenuedaddy
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    How to apply and look for other jobs in public?

    Posted: 27 Oct 2019 07:46 PM PDT

    I have been at my firm for a year in a few months and honestly I have wanted to move up to Big 4 or close to it for some time now. I wanted to know what is a good way to apply to a firm, apply on their site, reach out to a recruiter on Linkedin or what?

    I also wanted to know if its a bad idea to apply to a firm where I did not get a job offer at after my internship? I was told my work was not up to par with their standards which is why I did not get the full time offer back then. But they did say after I get some more experience I could look into applying again. Im not too comfortable going back to a firm that rejected me but it would be a good opportunity.

    Also, is there a good way to get my resume reviewed? I will try to use what my university taught me but Im guessing there are different standards as someone with experience in public accounting.

    submitted by /u/throwawayshoes2
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    What things should I try to pay more attention to in cost accounting for BEC?

    Posted: 27 Oct 2019 06:58 PM PDT

    Like variances? Or department cost allocation?

    submitted by /u/droptoppot
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    How to get accounting research experience as an undergraduate?

    Posted: 27 Oct 2019 10:19 PM PDT

    Hi all. Currently a sophomore accounting major with two accounting classes under my belt, and I really like the material. I'm going to do a few internships just to get a feel of accounting. However, I have always been the person who likes asking why and how so I do not want to work as an accountant. I want to work at places like the IRS or Federal Reserve helping set the policy on things like taxes or monetary policy and doing research.

    I'm not sure how to get research experience the same way I could get a lab job as a biology major. So I was hoping if you guys could give advice. I know this is sub is mainly for accountants but idk where else to put it. I will hopefully be applying for my PhD in accounting once I graduate so I hope y'all could help. Thanks in advance.

    submitted by /u/RegalPrince
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    (CAN) New CPA Schedule

    Posted: 27 Oct 2019 04:17 PM PDT

    I know that schedule may not effect me since I am hoping to write the 2020 CFE but what does everyone think of it?

    submitted by /u/legochocolate
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    RSM training advice

    Posted: 27 Oct 2019 04:10 PM PDT

    Hi guys,

    I'm going to be starting my new job as a tax associate at RSM this Friday. Then next Sunday, I'm flying out to Chicago for a week of training.

    To the RSM people on this sub, is there any advice to give about what to expect for training? Any recommendations on places to visit and eat?

    submitted by /u/Da_Pops
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    How to become a cost accountant?

    Posted: 27 Oct 2019 06:00 PM PDT

    Hello all,

    I'm currently working as a staff accountant at a small CPA firm where there is payroll, tax prep, and bookkeeping services. But something that has created an interest in me is cost accounting, but all the job advertisements I see for these roles require 2-3 years experience in a manufacturing environment. I don't really have this.

    What's the best way for me to get a position as a cost accountant?

    submitted by /u/Asccandreceive
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    Help with intro accounting AR confusion?

    Posted: 27 Oct 2019 03:14 PM PDT

    Pretty much we got this exam review (open book, not a test). But the AR questions (and given solutions) is confusing me. Pretty much, without giving the numbers and making you actually do it for me, this is the jist:

    If I'm giving the estimated AFDA @ end of period, that number should be the ending AFDA in the t account, correct?

    And then, the BDE should be the difference between the beginning and end on the t account?

    For example (random numbers), if I'm given 2500 as the estimated afda, and the opening is 1000 (credit), write off 2000, collect 500, my BDE should be 3000? These aren't the number but reflect the method I used to come to my answer.

    submitted by /u/mapejn
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    Accountant Dress Codes?

    Posted: 27 Oct 2019 12:14 PM PDT

    Hey everyone! I'm currently an Accounting student, and I have intentions to go into most likely industry or government accounting when I finish my degree. That's still a few years off, though, and isn't the point of this post.

    I'm wondering what the standard dress code for various different types of accountants would be. Does it heavily vary based on public/industry/government? Does it vary by level of public interaction? Firm or corporation that you work for? I ask because I very much enjoy wearing facial piercings and coloring my hair (and I'm a guy, so the rules regarding hair and piercings tend to be stricter for us because sexism). I don't mind wearing uniforms/business attire to work, but are certain hair styles/cuts generally off-limits (undercuts for example)? Does anyone here work in a position or know of any where they generally don't mind these deviations from what's stereotypically viewed as, "professional," in the workplace? I'm currently a manager and pharmacy employee at my place of work and they don't seem to mind despite the imposed "dress code" that we're supposed to follow, and was also wondering how loose/strict any imposed dress codes you do have are (do people tend to get away with breaking it after they've been there for a while if it exists?). I really enjoy what I'm majoring in and love the idea of being an accountant, but I also can't fathom the idea of going back to the archaic high school standards of having to structure my outside-of-work appearance around work (hair color being a primary example of this).

    Thanks for any advice or information that anyone can offer!

    submitted by /u/TannerCook100
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    Maybe because we'd get fired after 1 week of following your advice and risk losing everything, Alex

    Posted: 26 Oct 2019 10:48 PM PDT

    Considering taking accounting/finance minor

    Posted: 27 Oct 2019 04:53 PM PDT

    I'm 19 and a computer science major. I come from a lower middle class family that has never traded or invested. I recently began to swing trade and developed an interest in finance. I could see a possible future in finance and plan on taking a few classes.

    I've heard that some college business/finance classes are a scam and don't teach you much. My question is, will taking college finance classes be helpful? Or is there a resource that I could learn from instead? Or maybe I could do both?

    submitted by /u/nightold
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