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    Accounting For the incoming busy season interns and associates

    December 07, 2019

    Accounting For the incoming busy season interns and associates

    For the incoming busy season interns and associates

    Posted: 07 Dec 2019 03:31 PM PST

    What happens to interns right after I explain something to them

    Posted: 07 Dec 2019 04:59 AM PST

    Bet all those accounting proff's feel stupid now

    Posted: 07 Dec 2019 08:37 PM PST

    Triggered

    Posted: 07 Dec 2019 12:24 PM PST

    LinkedIn flex - isn’t announcing you have 2 internships extremely poor form?

    Posted: 07 Dec 2019 06:40 PM PST

    FiVe StEpS 0f R3vEnuE ReC0gN17ioN

    Posted: 07 Dec 2019 10:12 AM PST

    The suffering goes on and on, at first it was a joke, then it became a hidden plea.

    Posted: 07 Dec 2019 02:17 AM PST

    12 Days of Christmas, PwC Style!

    Posted: 07 Dec 2019 07:45 PM PST

    My manager whenever he needs to see the data

    Posted: 07 Dec 2019 05:00 AM PST

    Might want to lay off the black tar heroin

    Posted: 07 Dec 2019 01:14 PM PST

    If you haven’t seen this, you’re not an accountant

    Posted: 07 Dec 2019 06:44 AM PST

    New intern offer - LinkedIn advice

    Posted: 07 Dec 2019 10:55 AM PST

    Seeing people get accepted to an internship is awesome, but please spell the name of the firm correctly. Thank you.

    submitted by /u/another74wow
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    Need help on finding the amount of dividends!

    Posted: 07 Dec 2019 08:40 PM PST

    Need advice

    Posted: 07 Dec 2019 08:15 PM PST

    I am in my last year of my accounting major. Despite having a 3.7 gpa I feel like I haven't learned a lot about accounting. Is this normal? Should I be worried?

    submitted by /u/Applepieluvr
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    What’s the best minor to go along with /a accounting degree to boost a gpa?

    Posted: 07 Dec 2019 08:12 PM PST

    The people who majored in accounting do you regret it?

    Posted: 07 Dec 2019 10:04 PM PST

    I'm bringing back the classics, with harold, he's all of us.

    Posted: 07 Dec 2019 02:25 AM PST

    How different is Beta Alpha Psi vs Accounting Student Organization?

    Posted: 07 Dec 2019 09:53 PM PST

    Initially I was more interested in Accounting Student Organization because it's specific for accounting only. However, I heard Beta Alpha Psi is the best for job recruitment because it's a prestigious honor society. What I'm wondering is how much more helpful it could be and what the difference between the two are besides from the GPA requirement. Do these organizations require things like parties or other social events?

    submitted by /u/-admirable
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    I am lost and need advice

    Posted: 07 Dec 2019 09:21 PM PST

    I am currently a senior accounting major( top 25 public university) and have zero clue what I will do after graduation. My GPA is a 3.05 and believe I won't be accepted to my school's masters program. I have never had an internship, and currently have nothing lined up after graduation. I will graduate with 150 hours due to me switching majors after my freshman year. If any of you were in my shoes what would you do? Any advice is much appreciated

    submitted by /u/JNinkovich8
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    [UK] Multiple accountancy firms have turned me down after speaking with compliance team - what can I do to find someone willing to work with me?

    Posted: 07 Dec 2019 09:19 PM PST

    I run what could be viewed as a service, which I have had checked by a solicitor firm for legality and it is all legal, there are no issues with it. They drew up the contract I have between me and my clients, and I essentially generate a profit each month, splitting a percentage with clients.

    The root of where the profit comes from, is from gambling - as in, with online casinos and/or bookmakers.

    My solicitors advised me that they weren't specialists in taxation, and were not sure if what I was doing could be seen as taxable or not, as gambling is tax free. I want to pay taxes, and the majority of advice I have had is that tax probably does need to be paid on it.

    My issue, is that I want to run this as a company, and in doing so, I would like an accountant to handle all of the accounting side. I have no clue on what is required in terms of this, and I am a believer in paying the right person for their knowledge in an area you lack, to allow you to do what you're good at.

    So... I have approached multiple accountants, explained what I do and provided them a copy of my contract which I have with each client to look over. Each time I do, I eventually have them come back, usually several weeks later, with a response telling me that the compliance team would not consider working with me, yet giving no further details than this.

    To reiterate, I have had this thoroughly checked by a legal team with expertise close to this area, and they are fine with what I am doing legally.

    I can't be certain, but would imagine that the aspect which is not liked by the compliance teams, is that I put my own money into bank accounts which my clients open for me in their name. I use that money for gambling. My solicitors advised that this may be a breach of terms of services with the banks, however a breach of terms of services is only that and doesn't present a legal issue.

    What should I do? Changing what I do to not work in this way isn't practical, and I really want to form a company, do things through that, pay taxes on what I am doing etc. Is there a different way I should approach accountants? Should I look locally and hope to have an initial consultation face to face rather than over the phone? Are there accountants who may specialise in non-straight forward businesses like this?

    submitted by /u/DullBasil6
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    Just stepped out of REG

    Posted: 07 Dec 2019 03:17 PM PST

    I feel so-so/not-so-good on the MCQs I probably flagged close to 25 or so of them (I've got a quick trigger finger). The second testlet got into sooooo many tiny details. The SIMS, I feel a good bit better about. There wasn't one on there that stumped me completely, and I feel like a got a lot the available points. Overall though, not feeling too good about this test. And I'm pretty nervous leading up to the 19th.

    Anybody out there felt no so good about REG and walked out with a passing score? Comfort me, please.

    submitted by /u/acctonthecomeup
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    Are there really companies that let you go on vacation for one month when it’s not busy season?

    Posted: 07 Dec 2019 10:40 AM PST

    I read it from somebody and I thought that's a really attractive perk.

    submitted by /u/bret64
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    Quickbooks for landlord? Or something better?

    Posted: 07 Dec 2019 08:55 PM PST

    I'm a junior accounting student. My father is a landlord, and does the business administration as well as most the labor for his properties. He wants to hire me to run his books for the summer and needs a better accounting system than just spreadsheets. Anyone have any advice for what program would be best for a landlord? I've looked into quick books and seems like it would suffice, but I'm a total newbie and completely open to suggestions from experienced people. Any help would be greatly appreciated, thank you.

    submitted by /u/connorjw5453
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    Looking for help on a Tax memo assignment

    Posted: 07 Dec 2019 08:46 PM PST

    So my professor just assigned this memo during final and I have no idea what to do. I am confused by the facts I am given so I really hope anyone can give some thoughts to help me.

    Paul, a married 56-year-old taxpayer with three dependents (age 18-23), is a successful selfemployed doctor who lives in Kentucky. Paul's neighbor, Bobby Boucher, is an employee in Paul's medical practice. Paul and Bobby have been neighbors for over 10 years, and Bobby has worked for Paul the entire time. As such, they are close personal friends. Bobby had a bad experience with Colonel Sanders/KFC in college, causing him to burst into fits of rage and tackle things when he is reminded of these. (This is problematic for someone living in Kentucky). Bobby's tackling fits have led to serious damage to the fence on Bobby's property. Paul is worried that, absent the fence, he will become the target of Bobby's tackling. As such, Paul paid $20,000 to repair Bobby's fence. Because Bobby is Paul's employee, Paul paid this out of his business's checking account. Assume that Paul has net income from his business of $250,000 before any payment for the fence, and no other income and expenses for the year. His wife has no other income.

    Based on your research, determine whether the $20,000 payment to repair Bobby's fence is deductible as a business expense (and conversely, if it is taxable to Bobby, or excluded as a gift). After clearly documenting your conclusion, determine Paul's 2019 total tax liability under both the scenarios (i.e., deductible and not deductible).

    I will be very appreciated if anyone could help me have some thoughts.

    submitted by /u/ilikehusky
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