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    Accounting Via @obviousplant on IG

    November 29, 2019

    Accounting Via @obviousplant on IG

    Via @obviousplant on IG

    Posted: 29 Nov 2019 12:31 PM PST

    Happy #noresultsday [CAN CFE]

    Posted: 29 Nov 2019 07:00 AM PST

    [CAN] 2019 CFE Starterpack

    Posted: 29 Nov 2019 08:52 AM PST

    Why are public accounting firms allowed to overwork employees without overtime pay? And why does everyone just let it happen?

    Posted: 29 Nov 2019 08:46 PM PST

    What was the hardest part in school when becoming an accountant?

    Posted: 29 Nov 2019 04:50 PM PST

    I recently left my old machining profession to be an accountant. I just got accepted into university and am excited about the change. What was the more difficult subjects you had to go through in your studies?

    submitted by /u/Nomad_87
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    What do you say when people ask what you do for work?

    Posted: 29 Nov 2019 05:52 AM PST

    I always am reluctant to say I'm an accountant, I feel like once the word leaves my mouth people instantly label me as boring or a back office number cruncher. Work in Big 4 audit. Want something to tell people that isn't a lie but sounds more interesting.

    submitted by /u/hootch42
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    CPA Ontario surprise refund.

    Posted: 29 Nov 2019 02:56 PM PST

    I randomly got a email about my refund request being approved for the core 1.

    I went online and only noticed that CPA Ontario had charged $1580 twice. On two different days!

    Had this email not come. I wouldn't have even known...

    They can't even process personal and critical info properly

    submitted by /u/Blatant_Shit
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    1125-E question

    Posted: 29 Nov 2019 10:21 PM PST

    Does a PRIVATELY owned corporation with more than $500,000 in total receipts need to file an 1125-E?

    submitted by /u/NinjaOpsWomanager
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    I really like my boss. I know nothing will ever happen but because I want to impress him, I’m working even harder than in public at the expense of my personal life and even health. Help.

    Posted: 29 Nov 2019 05:04 AM PST

    I haven't known him for long but I think he's very confident, competent, bright, and willing to teach me everything. He didn't make partner in Big 4 and started in industry about a year before I did. I interact the most with him because he's my direct report even though he's pretty high up on the chain of command and there are other people who report to him.

    I started liking him after the long nights of just us two sitting together looking at spreadsheets (with no one else on the floor). I've sat with him nearly everyday since I started. I also never smelled cologne on him until two weeks ago. Now I smell it on him every time. I'm sure it's just self grooming but I'm the only woman on my floor of 25 so I can't help but why he wants to smell good for other men.

    I left Big 4 as a staff for a better work life balance and more time to pass the CPA and instead I end up working past 7:30 more often than not. The workload is as intense if not more intense. Outside of busy season at Big 4, I usually left at 5:30 but I was miserable because the work environment was hostile. Now my boss likes me and makes positive comments about me in front of his boss, so I feel more inclined to put in the unpaid OT. At the same time, I'm wondering if I'm stupid for trying so hard and if he wants me to admire him so that I work harder.

    I'm putting in Big 4 hours without getting to reap the Big 4 benefits. I'm concerned that my hard work won't get as much recognition outside of this company if I were to get passed for a promotion and leave in a few years. The positive is that the people are nice and that the guy I report to teaches me (unlike at Big 4 where I worked solely for the senior and never sat with my manager/sr manager/partner).

    He's married and doesn't have kids. He's said that his wife has the completely opposite schedule so he doesn't mind working late.

    submitted by /u/dunces838
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    B4 Tax -> consulting? (Internal or external)

    Posted: 29 Nov 2019 06:06 PM PST

    My medium term goal is a top MBA program. Long term I'd like to be in venture capital. I think both of those goals would be aided by switching to consulting.

    Anyone have any stories about attempting to make the switch? How willing would my B4 be to make an internal transfer?

    submitted by /u/Red_Rifle
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    This is my favorite sub to vent about work

    Posted: 29 Nov 2019 02:19 PM PST

    I used to go to r/antiwork and it is nothing but pro communism anti capitalism posts. This sub such a better place to vent about the workplace.

    submitted by /u/AdamantiumLaced
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    I can’t figure out where the opening inventory is. I’ve figured out the closing inv but can’t figure the opening inv.

    Posted: 29 Nov 2019 12:58 PM PST

    As an auditor (I’ll be working at B4), will I have my own cubicle?

    Posted: 29 Nov 2019 08:40 PM PST

    Sorry if that's a dumb question but I figure I'll be traveling a lot to get to clients so in my mind I'll have access to a workspace back at the office... but will I have a private cubicle to call my own?

    Also: does B4 get a work cell and/or laptop? Just curious. So I know if to make purchases now for myself.

    Thanks

    submitted by /u/urrkaaa
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    Income recognition and office deductions... help!

    Posted: 29 Nov 2019 08:27 PM PST

    Hey tax/accounting ppl. I am working on a research project and there are a few questions that I can't seem to get concrete answers on. I'm running around in circles it seems like... I've used Google and RIA Checkpoint so far.

    Edit** I am NOT looking for answers to a homework problem. I'm just stuck and am hoping others can relate and offer some of their experience or advice on the topics below. Hoping for a constructive discussion! Thanks in advance.

    Part one (Income recognition):

    I run a side gig teaching QuickBooks Pro classes. Customers pay me in advance for the courses and I guarantee them a passing grade on their assignments, or their money back. The money is kept with a third party (qualified trust escrow) under the contracts we sign. So if they pass the certification, I get the money. If they don't, I have to refund them. At what point do I recognize this income? Based on my research, I don't recognize it until I can actually access it based on the contracts that we've established. Any other thoughts? Does this seem right?

    Part two (Office Deductions):

    I own a business that happens to own some residential office space that I, as an individual, rent out for another business venture / unrelated to my main business. So I am renting from my own corporation. I am paying market rent. Can I, as an individual, deduct these rent expenses? Based on my research it's yes, just as long as my business is reporting the income as required. But, I couldn't find a clear cut answer. Does anyone have any recommendations on how I could find an answer or more guidance (besides talking with an actual CPA)?

    submitted by /u/mcjcpa
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    Starting with an AA to transfer to a 4-year university, but in the meantime I want to find work in a field related to accounting. Any suggestions on what to look for to look for for someone with no experience?

    Posted: 29 Nov 2019 08:24 PM PST

    Thanks for reading this post.

    As the title suggests I would love to find some kind of bookkeeping work like AP/AR or something similar as I go to college. My father has a bachelor in accounting and my mother has been doing accounts payable for the better part of 30 years, and after picking their brains for a long time and shadowing my mother's work in the past I know I could handle the work after I received some preliminary training. The question I would like to ask is, what things would you suggest I train or learn about to "approach" the minimum qualifications, make myself an attractive candidate, and overall prepare myself to do my job the best I can starting out?

    submitted by /u/ACuteLittleCrab
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    Are MSTs that important in corporate or public tax?

    Posted: 29 Nov 2019 08:18 PM PST

    I'm just a student but I was looking at job openings for various level tax positions ranging from entry level to tax director out of curiosity and a lot of the higher-end ones seem to put "MST highly preferred" or some variation of it. No preference for the regular Masters unlike audit or advisory roles. I've also started to see a few that flat out require either the MST or a JD, so are MSTs now something everyone in tax should get or do most companies not care?

    submitted by /u/thesushipanda
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    Need help with MEME assignment in Federal Income Tax Accounting class

    Posted: 29 Nov 2019 07:37 PM PST

    Hello fellow bean counters,

    A silly, but fun assignment (extra credit) has been added to my tax course. The extra credit will be rewarded to the 1 student in the class that comes up with the best 5 memes. I am allowed to consult the internet for help.

    If you have any great tax memes could you please PM or link them down below!

    submitted by /u/jmackfromthetrap
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    EY Audit vs Piper Jaffray IB

    Posted: 29 Nov 2019 07:32 PM PST

    Where would you go if your end goal is to be a VP, Controller, or CFO of a large private or public company one day?

    submitted by /u/FishingFool809
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    Further delays add up to major frustration for 8,000 would-be accountants after testing snafu

    Posted: 29 Nov 2019 11:58 AM PST

    Surgent or Roger?

    Posted: 29 Nov 2019 07:27 PM PST

    How can we justify software is tangible asset ?

    Posted: 29 Nov 2019 02:42 PM PST

    Hello everyone , I have a doubt , I'm checking a finance report and I got this curious explanation ,

    " The net value of the transfers in 2018 refers to transfers between tangible fixed assets and intangible assets, due to their intrinsic nature (New ERP) . As at 31 December 2018, "Intangible assets in progress" refer to investments in information technology (New ERP).

    Which situation can we posting a software as tangible ?

    In 2018 I understand can be custom development as intangible , just don't understand what is the reason or which situation can be tangible.

    Thank you

    submitted by /u/srjohny
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    studying for intermediate exam. Good luck people!

    Posted: 29 Nov 2019 12:09 PM PST

    I took a crazy schedule this semester 3 major classes at once and my brain is fried. Love it though. Don't procrastinate, work hard and study. Accounting majors we got this.

    watching lectures online, reading notes and practicing questions. I have 200+ intermediate acc if anyone wants them.

    submitted by /u/turlekame23
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