• Breaking News

    Wednesday, November 27, 2019

    Accounting NOT👏ALL👏ACCOUNTANTS👏DO👏TAXES👏

    Accounting NOT��ALL��ACCOUNTANTS��DO��TAXES��


    NOT��ALL��ACCOUNTANTS��DO��TAXES��

    Posted: 27 Nov 2019 08:45 AM PST

    When a consultant mentions outsourcing and senior management gets a little too excited

    Posted: 27 Nov 2019 09:00 PM PST

    Checking the audit file like

    Posted: 27 Nov 2019 05:14 PM PST

    Studying for CPA over holiday sucks!

    Posted: 27 Nov 2019 05:55 PM PST

    Anybody is studying over this holiday? My Bf is off to the fam for four days and I have to study the damn BEC. Exam on Dec 9th. Feeling so down. Need encouragement ....

    submitted by /u/Euligi
    [link] [comments]

    Under table money under OPEX

    Posted: 27 Nov 2019 08:33 PM PST

    I'm auditing this mining company. I'm testing one of its OPEX. However, there's no supporting documents for this account. Upon enquiry, the client straight up told me this account is for under table money given to government officials to "smoothen" their mining operation. So they don't really have the supporting documents except for maybe bank transfer slips. It's a first year client. What am I supposed to do with this shit

    submitted by /u/SpritualPotassium
    [link] [comments]

    Partners Daughter

    Posted: 27 Nov 2019 09:33 AM PST

    Hey there,

    I could use some major advice on this. I will be starting at a BIG4 very soon but the OMP's daughter will not stop trying to take me home every time I see her out. I am scared to do anything because I don't want my boss to find out, but I am also scared that if I don't she is going to think I am a dick and bad mouth me to her dad. Advice?

    submitted by /u/FishingFool809
    [link] [comments]

    The amount of ignorance in this post is astounding. ��

    Posted: 27 Nov 2019 01:47 PM PST

    You know what profession I did not see in these comments?

    Posted: 27 Nov 2019 05:50 AM PST

    Busy season Bingo?

    Posted: 27 Nov 2019 09:01 PM PST

    Hey all! We all know busy season is approaching, and we like to fit in a little fun where we can, so my coworker and I are in the process of creating a game for our office to play over busy season.

    The game will be a version of BINGO, but instead of numbers in the boxes there will be situations that one night encounter over busy season. (I can't believe this doesn't exist already on the internet?!)

    Some examples: Things your client does/says - Gives you a new trial balance partway into fieldwork - "I'll get it to you tomorrow, promise" - tells an inappropriate joke about fraud

    Things your partner says/does - "Do you have capacity?" - "we're budgeting for a better recovery this year"

    Observed: - family member asks you to do their taxes - go home before 5 on a weekday - spend your entire meal allowance on candy - order skip the dishes to the office - somebody sleeping under their desk

    Putting the call out! What are some things that would be fun to look out for? I can share the full list later on if anyone else want to bring this to your offices!

    Tldr: in need of some work situations to create a Busy Season Bingo game!

    submitted by /u/leezybreezy
    [link] [comments]

    Can businesses really deduct charitable donations made at the register by customers on their taxes?

    Posted: 27 Nov 2019 01:01 PM PST

    I have been browsing Reddit today (slow workday) and a few times I have seen comments where it is suggested donations not be made at the register as it is a way for the company taking the donation to somehow get a tax write-off with customer money. This doesn't sound right but now I am very curious.

    submitted by /u/StoriesSoReal
    [link] [comments]

    Serious question, is purchasing a pet while in public accounting a bad idea?

    Posted: 27 Nov 2019 04:33 PM PST

    I'm entering public accounting audit starting in January. I've always wanted a dog, and figured it might even be therapeutic.

    But I just realized if I'm going to be at work until 9pm - 12am+ every day and I live alone, who's going to take care of the dog? Sure, I can get a dogsitter and all but is it even worth getting a dog that I won't even be able to take care of for a quarter of the year? And I'll be on Staff 1 salary, I'm barely be able to afford upkeep for myself, let alone a dog.

    I don't know... maybe I should just hold out on buying a dog for another 3-4 years while I grind out public and then buy one when I'm in industry. I have this fear that I'll be gone for so long that my dog wouldn't even recognize me as the owner.

    submitted by /u/Magpie_Flyfish
    [link] [comments]

    CPA worth it?

    Posted: 27 Nov 2019 04:06 PM PST

    So I am really wondering the pros and cons of getting the CPA designation. Obviously there is a pay difference between being a CPA and simply having an accounting degree, but is it worth the extra stress? What kind of jobs could you expect to get without CPA (accounting degree only)?

    submitted by /u/mcwhams
    [link] [comments]

    Hedge Fund vs Private Equity Fund Accountant?

    Posted: 27 Nov 2019 06:03 PM PST

    Have been offered entry level positions as a Hedge Fund (HF) and Private Equity (PE) Fund Accountant. These are with 2 different firms.
    What would be the differences between a HF and PE FA?
    and how will each affect my future career path?
    is there one with better prospects? (eg PE growing & HF dying off or vice versa)

    Some context:
    - this is in the Asia region
    - both positions are not in-house but are for fund administrator firms
    - salary for both are pretty much similar with only a 1-2k difference annually

    submitted by /u/bestblink
    [link] [comments]

    s-corp loan, bad debt, and deduction question

    Posted: 27 Nov 2019 09:17 PM PST

    Hello. I formed an s corp with three partners earlier this year. We each contributed $10,000 in capital contributions, and we all have equal shares in the company. Additionally, I loaned the s corp $20,000. Due to mismanagement, we have decided to shut down the company.

    Of this total $60,000, almost all of it was spent on rent. We currently have $3,000 left in the bank. I know that I am not going to see that $20,000 back, but I am wondering what I will be able to get back, and what deduction I can get out of this. Since I am the only debtor of the s corp, should I expect to get the $3,000? Also, should I expect that I will be able to deduct the $10,000 capital contribution? And, should I expect to be able to deduct the remaining $17,000 from the loan?

    Any guidance would be appreciated. Thanks!

    Meeting with a tax accountant on Monday :)

    submitted by /u/math_dummy
    [link] [comments]

    Got married in March and forgot to update marital status on my W2

    Posted: 27 Nov 2019 08:39 PM PST

    Like the title reads, I realized I somehow never updated my marital status on my W2. I got married in March. Is there anything I should know or prepare for with my upcoming taxes? Did I screw myself out of the tax benefits of marriage? Thanks for your help all!

    submitted by /u/COPE_V2
    [link] [comments]

    Is there a stigma against being in accounting in the dating world?

    Posted: 27 Nov 2019 08:37 PM PST

    At times I think about choosing to pursue tax because their titles don't really have the word "accountant" in them and they pay a bit more, but then I remember at the end of the day tax still doesn't seem like the real turn-on career for most people.

    submitted by /u/thesushipanda
    [link] [comments]

    Going for a Bachelors in Accounting - Which internship should I choose & should I get a supply chain minor?

    Posted: 27 Nov 2019 08:37 PM PST

    I am a junior going to a small private school for a bachelors in accounting - hoping to eventually obtain the CPA and work at either a small to mid-size firm where I live. I am currently an accounting intern for a small lab, and while I enjoy it, I am quite literally their only accountant - I maintain their QuickBooks, invoice their customers, all A/R and A/P functions, cash flow projections, journal entries, payroll, etc. I don't have a real mentor there, and I don't have much time to work on things like taxes and preparing month end financial statements after I get done actually running their business. I do get to work with their CPA for payroll purposes. Another positive is that it is extremely close to my school. I really enjoy the people and the job - but I am wondering if for the sake of my career, should I push myself further?

    Should I focus my efforts on obtaining an internship at a public accounting firm? I'm not asking if it is absolutely necessary, but is it advised to try and get into public accounting sooner than later? Many of my friends have obtained internships from KPMG and the like, but I feel as though I am getting a really good understanding of how business and accounting is done at my current internship. Will it be easier to get an internship at a firm with this under my belt? Or will they be concerned I have caught a bunch of bad habits from teaching myself?

    Another question I have is should I get a minor in supply chain to fulfill my 150 requirement? I have taken an operations management class, I find it very interesting, and I really like the faculty in the supply chain program at my school. It also seems like a good back up plan in case I find accounting to be soul crushing. The only problem is that I still want to graduate in 4 years - and it would require me taking 18 credits for the next three semesters. Should I focus on getting my 150 in 4 years for the sake of being in less debt, or should I take it slow and go to school for 5 years and focus on getting good internships?

    Any sort of advice on anything I talked about would be appreciated, I know it is a lot. Thank you guys.

    submitted by /u/therealtiqii
    [link] [comments]

    Is working on pensions audit a bad place to be ?

    Posted: 27 Nov 2019 04:23 PM PST

    Right so I started in a big 4 not too long ago. I just in FS audit. And more specifically in pensions. Everyone I know In other firms or people that have done placements before say pensions is a shite area to work in. Does anyone have any experience with this and Also a follow up is it ever worth talking to your pdm to change your department?

    submitted by /u/amirbeer
    [link] [comments]

    Need Help for School Project!

    Posted: 27 Nov 2019 07:58 PM PST

    I have to complete a financial analysis and comparison between Nike and Lululemon. I need to compute the following margins and ratios for 2016, 2017, and 2018 solely from their 10ks and show calculations:

    Operating Profit Margin

    Net Profit Margin

    Inventory Turnover

    Days in Inventory

    Accounts receivable turnover

    Average Collection Period

    Specifically, I am having difficulty finding net credit sales from just the 10ks. Anything helps. Thanks.

    submitted by /u/daddylag
    [link] [comments]

    What's it like to be working in NYC?

    Posted: 27 Nov 2019 04:06 AM PST

    Just curious tbh

    submitted by /u/Heightx
    [link] [comments]

    Question about big 4 winter attire.

    Posted: 27 Nov 2019 07:11 PM PST

    I'm starting big 4 in January. I was wondering what kind of fleece is appropriate. Obviously, patagonia is what most people wear, but it's kind of expensive, and I would rather buy North Face or Under Armor. Would this kind of fleece be appropriate https://slimages.macysassets.com/is/image/MCY/products/7/optimized/14736317_fpx.tif?op_sharpen=1&wid=1230&hei=1500&fit=fit,1&$filterxlrg$

    submitted by /u/lunawhiteknight
    [link] [comments]

    No comments:

    Post a Comment