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    Accounting I got tired of recruiters spamming me on LinkedIn

    December 08, 2019

    Accounting I got tired of recruiters spamming me on LinkedIn

    I got tired of recruiters spamming me on LinkedIn

    Posted: 08 Dec 2019 09:38 AM PST

    First year vs. partner

    Posted: 08 Dec 2019 11:18 AM PST

    Found on r/Funny. Feel like a few of my clients need this in their office...

    Posted: 08 Dec 2019 06:12 PM PST

    It do be like that

    Posted: 08 Dec 2019 12:07 PM PST

    MS Excel Master race

    Posted: 08 Dec 2019 04:03 AM PST

    Python for accounting demos?

    Posted: 08 Dec 2019 12:41 PM PST

    Hey all! I'm planning on putting together a series of short YouTube videos to show some basic things you can do in python that can be applicable in the world of accounting. Things like importing a trial balance, reading in a GL, filtering for certain criteria, and exporting it, creating a set of financial statements, looking up stock values on the web, reading in PDF reports, etc etc. Is there anything specific you would want to see done in Python? I'm definitely open to / looking for suggestions, and would love to hear any ideas you have!

    submitted by /u/dtizzlenizzle
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    Two types of accounting students

    Posted: 08 Dec 2019 02:46 AM PST

    "I have a 6.9 GPA, am the president of 8 different orgs, have done 5 different internships, hold 6 part time jobs, have 259 college credits, did my CPA exam in chalk back in 2nd grade, and even credited myself out of the womb. Can I get a B4 tax internship position?"

    "I have a 1.8 GPA, have 0 internships, 0 jobs, and -1 extracurricular activities. My resume looks like it's straight from Bloomberg Terminal, still don't know if debits and credits go on the left or right, and I straight up used Chegg during all of my accounting exams. How can I become partner at the B4?"

    submitted by /u/CoryInTheHouseFanboy
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    What to expect in a busy season audit internship?

    Posted: 08 Dec 2019 03:06 PM PST

    Hi all. I'm starting an audit internship in January at a smaller public firm (160 employees total) that only deals in private company audits. Do you all have any tips or advice on what to expect or how to succeed in getting a full time offer after?

    submitted by /u/Cigs_in_side
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    Hands down, the worst software ever created

    Posted: 08 Dec 2019 01:07 AM PST

    Being honest with myself about why I want to get into accounting

    Posted: 08 Dec 2019 09:26 PM PST

    I pretty much want to be an important business professional who wears a suit. That's it.

    Is that a good enough reason to do this?

    EDIT: while I'm posting stupid shit, I might as well ask, how much of accounting is mind-numbing tedium? Like, as a percentage of your day.

    submitted by /u/Sm412
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    Do most of your college peers have their parents paying off their living expenses and tuition?

    Posted: 08 Dec 2019 03:44 PM PST

    Many students at top-tier universities have their parents paid off their tuition and rent just so they can concentrate on their studies. While this does seem very appealing to anyone, it does create a dependent mindset.

    I am attending at a lower-tier school and many students here are hustling by working part-time while they are studying.

    I think this is how students in lower-tier schools can compete with students from the top-tier schools because we are more independent and well-rounded. This can be a strong talking point during an interview.

    Just a thought.

    submitted by /u/Academicwimp3
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    Big 4 first performance review...not so good

    Posted: 08 Dec 2019 07:40 AM PST

    Throwaway for obvious reasons. I've been at big 4 for a couple of months now - maybe 100 hours of work. I got my first performance review and scored several "partially at grade"s. Is this normal for a first year or do I have a LOT of work to do? My anxiety is doing a number on me lol.

    ​

    ETA: A big thank you to the very constructive comments and some very big points made by people. I'm not someone who goes around thinking I'm the ultimate bomb - I always feel like a failure (thanks, anxiety!) - so getting a 2 out of 5 is like seeing that internal feeling that I fight against verified in writing. I need to save this post and come back to it a few more times to remind myself of all of your words. Seriously, thanks.

    submitted by /u/throwaway30498567
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    Possible to make $100k at 25 as an accountant?

    Posted: 08 Dec 2019 08:09 PM PST

    Why are people in public accounting so sought after in industry/private accounting?

    Posted: 08 Dec 2019 04:09 PM PST

    From a software standpoint, many software used in public accounting firms are propriety, so it isn't like there is any translatable experience in regards to software utilization.

    What are the top skills that people in public accounting have over people in private accounting?

    I have heard that skills learned in the Big 4 aren't really that translatable. Mid-tiers are a bit more translatable since you are doing more with the client's books... I think?

    submitted by /u/Academicwimp3
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    Need help deciding if I should open my business as a sole trader or limited company :)

    Posted: 08 Dec 2019 09:59 PM PST

    Hi. I want to open a small low level business which sells magic the gathering boxes, toys etc. Collectables in general. It will be a part time business I run.

    With the collection aspect in mind there are quite a few products I would like to buy and hold for my business to sell in the future. I'm talking between 1 to 5 years holding. This is alongside buying and selling a small number of items month to month (25 to 50)

    I wanted to know how would the tax work in terms of the products I'm holding. Would I be charged corporation tax every year for the products I hold? Would it be better for me to be a sole trader?

    Thanks for any help :)

    I live in the UK btw if that has any bearing.

    submitted by /u/Jbx316x
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    Anyone here ever quit right before busy season with nothing lined up?

    Posted: 08 Dec 2019 04:26 AM PST

    Currently a Second year staff. Interim has been stressful af and I'm pretty miserable with the day to day work this job entails.

    The thought of 12 weeks of busy season coming up just sounds awful. 14 + hour days in a cramped audit room with coworkers who are equally stressed. I don't think I can handle it.

    I Started applying to some analyst roles, but nothing concrete lined up.

    Would it be idiotic to jump ship at this point?

    submitted by /u/Throwawaybig4200
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    can you help me in calculating payback period

    Posted: 08 Dec 2019 08:56 PM PST

    The company is considering of naming it Health Pro. Through sufficient market research and analysis of the demography, the company has found that at $30 they will be able to sell approximately 45,000 units annually. It will go for production at an already established factory that is owned by Pocket Pros but is not in use. The factory is around 60km away from the company's HO in Texas. In order to go for production of Health Pro, Pocket Pro will be investing in equipment that will have a cost of $500,000. With a scrap value of $15,000, the equipment has an expected life of about 6 years. For tax and as well as financial reporting purposes, Pocket Pros will be depreciating the equipment using the straight line depreciation method for the 6 years of the life of the asset. Besides the cost of the equipment, Pocket Pros will be incurring $370,000 as incremental manufacturing costs, $200,000 for Sundry costs and $425,000 for costs of labor. Also for promotional activities, Pocket Pros wants to allocate $150,000 per year to advertise and market Health Pro. As a tech company, Pocket Pros falls under the tax rate of 40% and a required rate of return of 15%

    submitted by /u/zalkernine
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    How do you get into the Family Office/HNWI tax division?

    Posted: 08 Dec 2019 04:22 PM PST

    I'm not sure how the different tax divisions work. Is it something you have to lateral into?

    Also, I can't really find a whole lot about it. It seems to be pretty small but it's the most interesting exit-op I've seen with tax so far.

    submitted by /u/thesushipanda
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    Starting New Internship, seeking advice on how to well prepare

    Posted: 08 Dec 2019 08:01 PM PST

    I am starting a new internship where I will be preparing tax returns for clients.

    I've been brushing up on new tax laws/codes, but what else should I be doing to make sure I hit the ground running well when I start.

    In the past, when I didn't know something for a return, I would look it up until I could find the answer.

    Thank you!

    submitted by /u/Swordfish1145
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    Big 4 Audit: FS vs Commercial?

    Posted: 08 Dec 2019 01:53 PM PST

    I'm likely going to stay in public for about 2-3 years before exiting to industry, but the problem is I don't really have an industry preference or an idea of what exactly I want to exit to.

    From what I've gathered FS is more specialized, generally longer hours, but is also less travel. I've also heard that the exit opps are more lucrative. Commercial I'd be able to see a broader range of clients but would have to travel more.

    Less travel is a big pro for me as I'd prefer to have clients downtown, but I live in a large metro with a pretty reliable transportation system

    Anyone in either industry could chime in on pros/cons of auditing each and could share some of their experiences?

    Also if I ever wanted to switch from one industry to the other in say a year or so how difficult would it be?

    submitted by /u/big4accounter
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    How valuable is AP/AR experience for an undergraduate student?

    Posted: 08 Dec 2019 07:03 PM PST

    As someone that had Accounts Payable experience, I want to capitalize on it when to looking for internships with public accounting firms.

    Majority of the work I did while working with AP were processing invoices and communicating with managers from different departments on the invoices we ask them to review before going to the next step for payment.

    I was exposed to different aspects of accounting, administrative duties and customer service.

    Would this give me a competitive advantage over other students since the majority of the ones applying don't have any accounting experience? Is having AP/AR experience a good start at being able to learn the full cycle of Accounting?

    How should I sell this experience to have a better chance at getting an internship offer with a mid-tier firm?

    submitted by /u/Academicwimp3
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    LLC vs. S. Corp

    Posted: 08 Dec 2019 12:21 PM PST

    I have a question for you guys. I am an accountant, but I am straight out of school and don't know that much about setting up a business. My mom is in Oklahoma and is needing to get a business license since she's going to be working from home as a nurse under a Physicians Assistant. She just needs a way to pay taxes and write off her business expenses. I told her she should probably just get an LLC since it seems sufficient enough to protect her from liabilities, fairly cheap, and would be the simplest route. My brother's CPA is saying she should register as an S Corp. because she will pay less in taxes. I understand there are some benefits to registering as an S Corp., but it seems like it would be quite expensive to hire a lawyer and a lot more complicated. She doesn't have the money to just run out and get a lawyer or CPA to help her. Is the CPA right or is it more trouble than it's worth to register as an S Corp?

    submitted by /u/LiuMeien
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