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    Home Unlabelled Accounting It’s my new workers first tax season... she’s really having a hard time dealing with the stress.

    Accounting It’s my new workers first tax season... she’s really having a hard time dealing with the stress.

    January 26, 2020

    Accounting It’s my new workers first tax season... she’s really having a hard time dealing with the stress.

    It’s my new workers first tax season... she’s really having a hard time dealing with the stress.

    Posted: 26 Jan 2020 05:48 PM PST

    Bingo

    Posted: 26 Jan 2020 09:27 AM PST

    You think it don't be like that but they say it really do

    Posted: 26 Jan 2020 06:51 AM PST

    I dont for the life of me know how to go into work tomorrow...

    Posted: 26 Jan 2020 01:54 PM PST

    Every day without fail my boomer boss finishes his lunch at his desk, balls up his jimmy johns sub wrapper when he finishes and bellows out a fat "KOBE" when he launches a 3 pointer across our hideous open space office, in full view of several departments at the office. The finance and account departments followed suit: balling up invoices, powerpoint decks, any misc. paper that was printed, we would all bellow out "KOBE" when we made that shot, and it brought us our greatest joy on particularly stressful weeks when it would act as a ray of joy, seeing each others baskets and each others failures.

    This is something that united millennials, gen z, boomers, LGBTQ++++, blacks, asians, jews, nerds, jocks, visiting clients, etc. It is an incredibly pure thing and we all love to see it but I am worried that no one will be comfortable throwing out "KOBE" at work on monday. It sounds like a small thing after the passing of a great icon, but I am very worried about the impact on our team and our ability to work cross functionally with other departments if we no longer have sweet "KOBEs" to united us.

    What would you suggest? I feel like continuing the shooting with a "KOBE" would be the proper way to honor his legacy, but I don't know if that will be looked at as unprofessional or controversial.

    submitted by /u/chen10
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    Maybe one day...

    Posted: 26 Jan 2020 07:20 PM PST

    I found “Hide the pain Harold” in this CPE course...

    Posted: 26 Jan 2020 09:03 AM PST

    Paper trial balances rant

    Posted: 26 Jan 2020 04:59 PM PST

    One of the clients I'm working on owns about 15 different business entities (a combination of partnerships and S-corps), and I've been assigned to prepare all of the entities' tax returns. The owner keeps track of all of his business records in QuickBooks. At the end of the year, he prints the trial balances and general ledger detail reports, and mails the paper reports to our firm. All together between the different entities, it's over a thousand sheets of paper that I have to scan into our document storage system, and then manually type the trial balance amounts into CaseWare. The time budget for the engagement is about 100 hours, and I could do the returns in literally half the time if I was given Excel files that I could save and import to CaseWare. I mentioned to the partner managing the engagement that we could save a significant amount of time if we could get the client to send us their QuickBooks reports in Excel, and the partner replied "We can try, but [Client's name] prefers paper." I just don't get it; at my bill rate, the client is unnecessarily paying thousands of dollars for us to deal with their paper trial balances and general ledgers. Why do they prefer that? Part of me feels bad for how inefficient my work is on this engagement, but the ability to improve is out of my hands.

    submitted by /u/dsm1324
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    Getting promoted - Is my salary expectation reasonable?

    Posted: 26 Jan 2020 08:44 PM PST

    Howdy. I'm a staff accountant at a small manufacturing company (12 million yearly revenue) in the Midwest. I've worked here for a little over a year. There's only two accountants, me and my boss the controller. The CFO of our parent company decided we didn't need two accountants so my boss is being forced into retirement soon and I'm being promoted to Controller. It was expected I'd take over eventually, but I didn't think it would come this fast.

    I make $59k. I haven't discussed salary expectations with the General Manager (leader of the plant who I will report to on a day-to-day basis). My boss said the GM and CFO discussed giving me a 10% raise to $65k.

    That seems pretty low to me. To give more context, I will be doing all of the accounting for the company. Payroll, AP, AR, Reporting, Month End, everything. My boss makes $90k. Before I came on my boss had a part time assistant who made $18k/year. I took over all of his duties plus some of my boss's. I'm not a CPA and only have 3 years of experience.

    Before me, combined the controller and the assistant made $108k. $65k isn't even 2/3 of that. My plan is to ask for $70k plus be moved up to 4 weeks of vacation (I only have 2 weeks now). So essentially a 20% raise plus more vacation time.

    Is that unreasonable? Should I ask for more? I'm expecting some push back because I don't have a lot of experience, but they seem to like me and know I can do the job. I'm not sure if I'm willing to walk if I don't get what I what. I really like the people I work with, but don't want to get ripped off either.

    Please advise.

    submitted by /u/fdgfdghdfhdfhdf
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    Quitting after first busy season

    Posted: 26 Jan 2020 04:15 PM PST

    I started my job in audit in the fall. The past few weeks have been really bad for my mental health. I was on a really terrible client for 2 weeks that made me realize how dumb/bad at this job I am. I keep falling behind in all my work and feel like I'm just waiting for the inevitable firing.

    So today I decided I would quit. I never wanted to be that type of person but I don't think I can continue this job without completely destroying my mental health. I feel really crappy because the people I work with are great and I have student loans I have to pay so having to find a new job seems absolutely terrifying. But I just can't keep doing this. I cry almost every day after work from the stress/pressure I seem to be putting on myself.

    Does anyone have any advice? I should wait until after busy season right? How do I explain only having worked at a job for a few months in interviews?

    submitted by /u/nmj012
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    How do you tell your line manager that you’ll get more done if you get more sleep?

    Posted: 26 Jan 2020 02:08 PM PST

    I find I need sleep a little more than most and my commute is a little longer. If I can get to bed for 11 and get up at 7 I am far more productive than if I go to bed at 1 and wake up at 6.

    Most people can semi-function on 4 hours sleep. I have other qualities but not that.

    I get on with my line manager but I'm not sure how to put it without sounding lazy and I don't want to sound like I'm not going to be a team player.

    submitted by /u/ioeoo
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    How much should I expect to be traveling as a 1st year audit staff in San Francisco (midtier/ national firm)

    Posted: 26 Jan 2020 06:31 PM PST

    How I feel in the middle of busy season

    Posted: 26 Jan 2020 10:03 PM PST

    Starting your own bookkeeping practice?

    Posted: 26 Jan 2020 06:02 PM PST

    I've worked in public practice as an accounting technician/bookkeeper/tax preparer for a number of years. Slowly but surely pursuing CPA designation. However, I've been thinking about how realistic it would be to start my own bookkeeping practice. Given my knowledge and experience now I think I could handle quite a few clients full cycle bookkeeping, and probably make more money at it compared to working as an employee. The most challenging part would be obtaining clients to start out. I feel like there is a shortage of good quality bookkeepers right now. I see so many small businesses who basically have bad bookkeepers, no bookkeeper, or their self-taught spouse making a mess of the books. My current employment contract forbids me from doing this on the side, so would have to quit my job. Does anyone here have experience with this? Is it a smart move? Cheers.

    submitted by /u/h1ghz3nb0rg
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    Is my work experience valuable in accounting and finance?

    Posted: 26 Jan 2020 02:12 PM PST

    I work as a Credit Analyst at a large Commercial Bank in Canada. I've been working in this job for almost three years and now starting to think maybe industry does not value my work experience as much as I thought it would. I learned a lot in my current job while underwriting for various transactions management buyout, working capital financing, asset financing, etc lots of dd work. I feel that I have hit a ceiling as I'm not interested in sales ( might do sales for a year or two but not for 20 years because sales targets are getting more and more aggressive).

    If I transition into accounting for FP&A targeting Senior Analyst or Director of FP&A later. Do you think industry would value my work experience in banking?

    Where else can I work besides FP&A?

    submitted by /u/Zack_wood
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    Question about CPA work experience requirements and Big 4

    Posted: 26 Jan 2020 07:10 PM PST

    Long story short, I passed all 4 sections of the CPA exam a few months back and only recently found a job at a small accounting firm. It's somewhat akin to working at an accounting sweatshop but it pays and I need 1 year work experience in order to finally get my license so I'll bear with it.

    Some of my co workers have asked why I don't just make the switch to Big 4 as the pay is much better and I'm somewhat overqualified for my current job. To elaborate, where I'm currently working, I'm getting paid minimum wage with no overtime meaning getting paid a fixed amount weekly whether you worked extra days or hours and you're expected to work extra (yes, I know it's illegal and could file a lawsuit but I respect my boss and appreciate that they took a chance on me when I was struggling to even get an interview).

    My goal is to just work there for one year, have my boss (a CPA) sign off on my work but the impression I've been getting is that they need a long term worker that will be there 2 years+ but I'm not sure if I'm willing to make that sacrifice to stay an extra year.

    My question is if I make the switch, will the 2 months work experience that I've accrued to date be forfeit or can I have my boss sign off on those 2 months on the form 4B and then my new employer sign off on the next 10 months for my license? I know some would just say to work the extra 2 months it's no big deal, but just having worked so hard to pass all four exams, I just want to get my license as soon as possible and not a day later.

    Another question is would the Big 4 even want me? After asking around and talking with some people that have worked/work at Big 4, the consensus seems to be that Big 4 only recruits students in college for their new hires and don't generally hire inexperienced workers that have been out of school or work for too long. I've also been told however that Big 4 firms in my city are pretty desperate as the worker turnover rate is so high so after getting maybe 3 months work experience, I can give it a shot.

    I've been told to go to school job fairs and to just throw my resume in with the other students but are there other ways I can apply for Big 4 entry level accounting jobs? I'm willing to work hard, I just need to find more ways in to further my chances.

    What are your opinions on my chances in making a Big 4 firm and is this something I should even bother with? Should I wait a year til I have more experience and my license?

    submitted by /u/anewcpa
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    I’ve decided tax isn’t for me but I just accepted a B4 tax internship in Nov-Jan. Should I still do it?

    Posted: 26 Jan 2020 02:08 PM PST

    I don't know which service line I'd like join but I've just realised it's not tax.

    I'd still really love to do this internship but I'm worried it won't be helpful to me when finding graduate roles in other service lines, like audit.

    Should I try and find another internship? Will a tax internship still be helpful in securing B4 graduate roles in other service lines?

    submitted by /u/Thranrond
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    Vision2020-equivalent strategy for Deloitte?

    Posted: 26 Jan 2020 09:30 PM PST

    Trying to prepare for a DT interview. Maybe I wasn't researching hard enough but I actually cannot find any badass trend/strategy that carries the same weight as vision 2020 for EY.

    submitted by /u/ass-we-can
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    Sophomore Summer Dilemma

    Posted: 26 Jan 2020 08:57 PM PST

    I have a decent dilemma currently. I don't know what to do with my summer. As of so far I have been accepted to two SLPs at big regional firms and also have a F500 finance internship that I have an offer for.

    About me a bit, I am at a very non target school in the south for B4 or any super regional firm. We have 1 large public firm that recruits here and thats all. I am a sophomore double major in accounting and info systems, 3.6 gpa and attented an SLP at a fairly sized regional firm last summer as a freshman.

    I am still applying to SLPs and other summer internships but am wondering which path I should go down. I want to be in public accounting and feel the SLPs might help me get in that path better than doing a non relevant F500 internship.

    My issue is i don't know if I could take off time during the internship to go to the SLPs, and personally don't think that is fair to the team I will be on to be taking time off to pursue other avenues as an intern.

    Which way would you lean?

    submitted by /u/gaapmeup20
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    I'm stuck

    Posted: 26 Jan 2020 07:37 PM PST

    So I began my "accounting career" junior year of high school. I took accounting 1 and by the end of the year I decided to sign up for accounting 2 my senior year because I found that it was something that wasn't too difficult for me to do. I decided to use that as a placeholder for my "intended major" rather than being "undecided." I just started my second semester of college and am currently taking my first college accounting class. I'm about to transfer to a 4-year university this upcoming fall, and people usually say you need to have a set goal by the end of your second year. I haven't looked into any other majors, but I'm afraid that I could be making the wrong decision by sticking to accounting. I'm not really committed to knowing more about this subject as I think I should be. I know I've only made a dent into the long process, but I just want to know that this is something I won't regret doing later on.

    Should I stick with accounting or find something else? How did you guys get where you are now and do you like it?

    submitted by /u/Rene0905
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    Other jobs when you already signed full time.

    Posted: 26 Jan 2020 07:30 PM PST

    Are you allowed to have another accounting job part/full time after you have signed full time with a firm? I am doing the Macc after the internship and I need money. So I was thinking about working at another firm seasonally while in school. Is this acceptable? Thanks

    submitted by /u/AnotherThrowaway5674
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    Advice Needed: New Graduate working towards CFE

    Posted: 26 Jan 2020 07:16 PM PST

    ADVICE NEEDED: Would anybody who passed the CFE be able to message me? I'm a new graduate who is working towards taking the CFE exam in September 2021. I'm currently planning the next 18 months till the exam. Any help and advice would be appreciated.

    Thanks!

    submitted by /u/mp0041
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    Where should I get my taxes done online ?

    Posted: 26 Jan 2020 07:01 PM PST

    It doesn't have to be free

    submitted by /u/snpblaze
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