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    Accounting When Payables and Related Party Balances don’t tie out

    February 27, 2020

    Accounting When Payables and Related Party Balances don’t tie out

    When Payables and Related Party Balances don’t tie out

    Posted: 27 Feb 2020 05:39 PM PST

    College accounting classes are easy unless you forget the practice homework

    Posted: 27 Feb 2020 05:26 AM PST

    I never get everything I need from the client on the first request

    Posted: 27 Feb 2020 01:22 PM PST

    Me emailing my seniors/managers about capacity

    Posted: 27 Feb 2020 07:37 AM PST

    My day today. One minor hiccup in my evening and suddenly I was in tears. Ah, busy season.

    Posted: 27 Feb 2020 08:15 PM PST

    Busy season perks

    Posted: 27 Feb 2020 03:09 PM PST

    So we're a couple weeks into tax season and my firm today decides to tell us that we have to start paying them for the soda/sparkling waters/water bottles in the break room.

    And this is the first year that they've decided to not bring snacks in for the employees and this year we get no firm provided dinner or lunches.

    Morale is low and they don't understand why.

    submitted by /u/hmhmt9
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    Am I dumb giving up a Public Accounting offer for a Government acct position out of college?

    Posted: 27 Feb 2020 04:11 PM PST

    I dont give a fuck about Big4 kool aide and certainly don't think a pizza party is worth the 50-80hr work weeks, but will I regret this decision? This sub is like 95% Public accountants so I cant help but wonder...

    submitted by /u/everyus1
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    Clients are dumb as fuck.

    Posted: 27 Feb 2020 06:42 PM PST

    Doing an audit for a Section 8 apartment and the owner and controller of the property management company signed and mailed a check for property taxes that are escrowed to double the payment. Hope you guys are enjoying your afternoon/evening or whatever the fuck it is.

    submitted by /u/YOUgotGRIZZEDon
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    An intern's response when they are asked to start a working paper

    Posted: 27 Feb 2020 02:24 PM PST

    What can we do to make PA Auditors feel better?

    Posted: 27 Feb 2020 08:15 PM PST

    I've been in public accounting audit so I know the feels. I see 8 of the poor EY souls trapped in a conference room without window and I can just feel the heavy dread/atmosphere in the room.

    Aside from getting them PBC (I swear, I am working on it), what are some nice gestures or things we can do to make their day better?

    submitted by /u/junpark7667
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    When you’ve worked 52 hours and it’s only Wednesday

    Posted: 27 Feb 2020 12:27 AM PST

    Is a Big 4 offer a great accomplishment in college?

    Posted: 27 Feb 2020 04:11 PM PST

    I'm a sophomore in college and just got an audit internship offer from Big 4. What should I expect?

    submitted by /u/hhfdgjku
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    When the manager asks if you can take on more work in 2019.

    Posted: 27 Feb 2020 06:54 PM PST

    Trying to pick a concentration. I need some insight. Thank you

    Posted: 27 Feb 2020 09:05 AM PST

    Power BI vs Excel

    Posted: 27 Feb 2020 08:24 PM PST

    And GO!! What's everyone's thoughts on Power BI. Do you think this will eventually be more important then excel in the future. It will excel and pivot tables reign supreme

    submitted by /u/bangarangz
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    Big 4 audit stress

    Posted: 27 Feb 2020 03:38 PM PST

    Hi... I'm a senior in big 4 and get very stressed due to working in audit. I find the deadlines, pressure, complex issues, hours etc very tough and I take all too seriously.

    Does anyone have any tips on how to stop this as it is causing me a lot of issues?

    Thanks

    submitted by /u/tf12345678910
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    Private Companies and 606

    Posted: 27 Feb 2020 05:21 AM PST

    I'm an Assurance Manager at regional firm who works with primarily private companies. It seems like most of our clients have chosen to completely ignore our 606 communications over the last 2 years and have done absolutely nothing to assess the impact. As such, I'm essentially writing position papers for them. If I recommend any sort of change in recognition, it turns into a nightmare. I feel like I'm a Financial Reporting Manager for like 20 companies and it's stressful and frustrating. Anyone else having a similar experience?

    Sorry for venting. It's been a long week.

    submitted by /u/ReasonableAssurance1
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    How much coffee do you guys drink?

    Posted: 27 Feb 2020 03:18 PM PST

    Between finishing my senior year and working just under 20hrs a week, I find I'm drinking more and more coffee. I couldn't imagine working 70hrs/wk in public without mainlining that shit.

    submitted by /u/OceansideAZ
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    Becker REG study help

    Posted: 27 Feb 2020 06:36 PM PST

    I'm scheduled for early May and I started studying about a month ago. I also have a full-time job but study few hrs everyday after work and most of weekend. I'm a little less than middle of Becker for REG. Problem is my study style (has been that way all college) is very detailed and almost a bit of a perfectionist. Though I'm very disciplined and study hard, I take a long time. I've always been one of those students in college who always study throughout, actually read all textbook, spend a lot of time studying and never cram. I've made good progress on Becker but I'm literally watching every lecture, taking detailed notes, and doing EVERYTHING as shown in order. I'm learning fine but problem is it's taking me a long time. I'm afraid by the time I get through all materials, I won't have enough time to review so I think I need to speed this up a bit to have more time to review. Question is... how do I do this? I feel uncomfortable skipping anything and hate the feeling of not learning enough. How do I speed this up without compromising too much?

    submitted by /u/Usernamepicked11112
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    Change of career from tax to finance

    Posted: 27 Feb 2020 01:20 PM PST

    How different would it be to change careers in industry from tax to business partnering analyst? Is it a wise choice? I chose tax and even did my masters in tax and currently studying for a CPA. I have 2 year of experience in tax straight outta school. Now I want to apply for business partnering analyst position within the company that pays a lot better and can move quickly to senior and manager positions as I have seen position open a quite a lot for this area. Any advice?

    submitted by /u/ibornalive7
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    Anyone familiar with Payroll here? Seeking your advice about a possible payroll error.

    Posted: 27 Feb 2020 03:53 PM PST

    Quick backstory: I'm a full time student, and I also work part time. Part of my benefits where I work is that they let people apply for a $1500 tuition reimbursement once a year if you get good grades and submit your documents. All seems to be going okay, but I have yet to receive my reimbursement even though it's been like 4 weeks longer than it should have taken.

    I dig into the situation and notice that my paycheck from about 6 weeks ago that there's an amount of $1500 labelled "TuitionBenefit" under "Non-worked hours", but the actual amounts for Total Gross Pay and Net Pay do not include it, and only include my normal wages.

    Are payroll errors like this possible? Why would it say that I "received" $1500 under Non-Worked Hours, but then it's not included in my actual paycheck? I'm really confused and don't know what to do. I've been waiting for this money for a while and it sucks that I can't figure out what's going on :/

    Thank you for your help.

    submitted by /u/Liwi808
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    Government accountants, what was your interview like?

    Posted: 27 Feb 2020 10:29 AM PST

    I'm going crazy lying in wait, so I figured I'd get my feelings out on Reddit.

    Had an interview with a local government yesterday for a Financial Analyst position. It was a standard panel format, with 3 different people firing questions at me.

    I've had government interviews before, and they didn't go too well. Panel interviews always sucked and I could never gauge the interviewers body language.

    The one I had yesterday felt different. When I got there, they were running 30 mins late (30 min interviews, so one interview behind). This meant I spent some time in the waiting room with other prospective candidates. I looked up their LinkedIn, which doesn't show any prior government experience. Cool. I've never worked for a government, but I used to audit governments, so I know the different fund types, at least.

    They call me into the interview room. I'm able to answer the questions concisely but thoroughly. Still can't gauge reactions. One panelist explains that this is actually an accounting heavy position. That's fine.

    At the end of the interview they discussed salary (never had that in a government interview before) and they tried to sell me on taking a slight pay cut (I'm fine with this, because pension and 4 day work week). Is this a good sign?

    There was a moment, at the very end of the interview, where one of the panelists asked if I had any grant experience. I told her I used to lead the single audit for the largest municipality in our general area. She practically jumped out of her chair.

    I'm hoping for good news, but I always feel like I'm gonna get beat out by an internal candidate.

    What was your experience like?

    submitted by /u/PetefromAccounting
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    Over a decade in accounting and I still hate it when auditors play FASB.

    Posted: 27 Feb 2020 11:00 AM PST

    Guidance clearly states that determining classification of a certain item is subjective and a policy-based decision (which makes sense because there are multiple different ways to reasonably look at it). Big 4 auditor comes in and basically forces all of their clients to do it the same way to reduce their risk and their auditing effort. This will never not be annoying to me.

    There's definitely a natural gap in consistency and clarity that results from having the standards-setter be a different agency from the regulatory agency for filers, and then having the regulatory agency for filers be a different organization from the regulatory agency for auditors. What the firms did with some aspects of ASC 842 is a perfect example of them taking FASB's inch and running a mile off a cliff with it. And God only knows what kind of nightmare panicky changes are going to result once the PCAOB gets around to auditing these post-842 audits.

    /rant

    submitted by /u/MaxJets69
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    Received internship offer with Deloitte

    Posted: 27 Feb 2020 07:35 AM PST

    Hi everyone!

    I'm so happy. I received an internship offer from Deloitte on the same of my first interview!!! I can't believe it!

    Question: does Deloitte drug test for their internships? My recruiter didn't say anything about it. I smoke weed quite frequently tbh. I stopped on Monday upon realizing that I may have to get tested, but I didn't realize that this process was going to be so short! I thought that I had to go through multiple interviews, so I didn't feel the need to stop earlier...

    In addition, any good tips for an auditing internship there?

    Thanks!

    submitted by /u/throwaway_73927291
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    1 comment:

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