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    Tuesday, March 24, 2020

    Home Unlabelled Accounting I am reporting every single one of you

    Accounting I am reporting every single one of you

    March 24, 2020

    Accounting I am reporting every single one of you

    I am reporting every single one of you

    Posted: 24 Mar 2020 08:49 AM PDT

    What does /r/accounting think about this? Given the stringent independence rules in our profession, it truly seems like a no-brainer to me.

    Posted: 24 Mar 2020 04:02 PM PDT

    Something to keep you entertained while WFH

    Posted: 24 Mar 2020 11:19 AM PDT

    Thank you for staying quarantined

    Posted: 24 Mar 2020 12:10 AM PDT

    It is mildly infuriating

    Posted: 24 Mar 2020 04:34 AM PDT

    [Rant] Audit sucks

    Posted: 24 Mar 2020 07:49 PM PDT

    I'm encouraged to ask for help and not spin my wheels on things, but get berated for asking what they consider simple questions. When I try to ask seniors or other coworkers they are unable to help because they know nothing of the client. The review notes are vague as hell so when I do fuck up it's like trying to find a needle in a haystack for what I did wrong exactly. Even when the work is suppose to be "sALy!1" and I'm rolling over bullshit, something is still inadequate. And this shit puts me even further behind since I can't justify billing all this time to a small section so I have to inundate myself by taking on more work to reach my billable requirements. Like fuck.. maybe I'm just not cut out for this.

    Edit: I really appreciate all of your support. If I had more people like you all around, I'm sure I wouldn't be feeling so down. Thank you all.

    submitted by /u/jaimesfookinbanister
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    Sounds like a plan

    Posted: 24 Mar 2020 07:09 AM PDT

    I quit big 4 during the pandemic

    Posted: 24 Mar 2020 08:41 PM PDT

    I'm a first year audit associate, started last year around July, I went through a pretty tough busy seasons with a couple accelerated filers, logged 100 hours a week for 6 weeks straight with no days off, except on some Sundays we were allowed to wfh til 6pm. The worst part was, seniors on the job were not helpful, rude, and the shit talking between co workers made me realized how toxic the culture was. It's super cut throat. Being a first year also includes coffee runs, snack runs, dinner runs. I single handedly carried 10 bags of grocery, and dinner order for a team of 15 people with no one offered to help because I was the only first year on the team. On rare days when I was unassigned, I'd be "suggested" to burn my PTO even though I didn't plan on it. I started losing sleep, being depressed, feeling like a failure, and was scared to ask questions at times because of how rude/ impatient my seniors were. There were countless times where I'd hide in the bathroom and cry over little things because of anxiety, and sleep deprivation.

    Bright side is- even though I've only been there for 8 months, once I sent my resume out, I heard back from a decent amount of places. Having big4 on your resume (even for only 8 months of time) opened so many doors. I ended up landing a job at a tech company in SV offering a 30% increase in salary.

    However- YMMV. I was an unlucky case (Even my counselor thought that I was extremely unlucky that I was put on basically the worst clients). But I do know a lot of my co workers who don't hate the job, and some people are actually enjoying it.

    My conclusion is that- it sucks working at big4. A lot of people say we should stick it out til when we make senior at least. But I don't necessarily agree. If it's taking a toll on your physical/ mental health- it's not worth. I wanted to make this post just to give props to whoever is pushing through, and to whoever is thinking about quitting but only an associate, you are not alone. Obviously there are a lot of factors to consider when it comes to quitting or not, but I just thought that no job should ever stress me out this much to a point where I'd lose sleep and make me suffer from anxiety attack.

    Thank you for listening!

    submitted by /u/goodbyebig4
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    A tidbit on the state of Hiring

    Posted: 24 Mar 2020 01:24 PM PDT

    I've seen several posts here by people debating on if now is a good time to quit a job, or apply for jobs, I thought I would give you guys my experience in the past month. The company I worked for was a small retail business that got crushed by big box and local competition as the economy expanded in the last 4 years, they went out of Business in January, and I helped close down the company until the middle of February.
    I worked as both the Staff accountant, then Senior Accountant/ Controller as we laid off staff for the last year. I started applying for both Senior accounting and Staff accounting jobs about 6 weeks ago as the Coronavirus outbreak started. I got interviews at 4 different companies out of 8 that I applied to. Went through 2 and 3 rounds of interviews, and just this week, 2 companies that I was in the final round of interviews for did a hiring freeze and told me they could not finishing the hiring process until the end of May if they could still hire by then, the other 2 companies gave me offers in the 52,000 to 58,000 range. I am accepting an offer at 55,000, keep in mind I do have 4 years experience, and just 3 months ago recruiters said there would be plenty of jobs at the 60,000 range. I have found that there are none hiring at that range right now. My two cents are if you get offers around 55k, you should take them, because right now companies are not going overboard on giving out good money, and some are completely stopping the hiring process for 60-90 days.

    submitted by /u/JJtheMBA
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    My family is disappointed in me

    Posted: 24 Mar 2020 06:02 PM PDT

    Hey all,

    Told my family I wasn't going to pursue a career in the B4 bc it's a toxic culture. They told me they're upset and disappointed that I'm doing this, and I'm being too "picky" when it comes to my career. Who wants to share their success stories outside of the B4? I'd be happy to hear and share. TYIA

    submitted by /u/robsteoperosis
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    I got made a treasurer for my church, and these books are so f*#ked [Rant]

    Posted: 24 Mar 2020 12:08 PM PDT

    This is really just a rant, but I don't who else to tell because of the technical details. I recently got made the treasurer for my church. I'm not even an accountant, but I have some knowledge, so I was the most qualified person willing to do it. I'm clearly the most qualified person to do it in a while, because I'm a few weeks in and there's a ton of utterly wrong and possible illegal things in the books.

    • When they had to pay for expenses owed the year before, they capitalized a fake asset instead of debiting an expense account. This was to avoid amending the budget to allow for more expenses for the current year. AKA, this was out of laziness, not maliciousness.
    • When donations came in for earmarked purposes, they parked it in accounts payable instead if just moving it to the right account.
    • For a lot of transactions, they mixed up debits and credits. So some credit accounts have debit balances and vice-versa.

    And now the finance committee for the church is frustrated with me because I won't continue doing this crap. I was going to go to the church's outside accountant with this, but then the plague hit and I just don't care anymore.

    submitted by /u/karry9001
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    Suddenly... controller?

    Posted: 24 Mar 2020 06:27 PM PDT

    Hey there

    I have a quick question. I have a long time client that we've billed via credit card for years. We were suddenly notified last week that they will no longer be accepting our billing to their card, to instead forward a bill to their controller via mail.

    My question is: Is this a bad sign? Or am I overthinking it and it's just a normal part of growth.

    Any input appreciated!

    submitted by /u/controlwht
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    Layoffs for CPAs in industry

    Posted: 24 Mar 2020 07:38 PM PDT

    Hey all - just found out a few days ago that I passed my all CPA sections. I should have my license in about 2 weeks. I'm currently working in internal audit for a large bank, don't know if I should be worrying about layoffs in light of CoVID 19. I'm the only CPA in our internal audit department. Don't know if that will help me from getting shit canned?

    submitted by /u/debits_equal_credits
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    KPMG pushing start dates

    Posted: 24 Mar 2020 07:27 PM PDT

    KPMG will be pushing June start dates till September. Fyi any new associates. Looks like it'll be nationwide. Heard from partner

    submitted by /u/fernthegreat
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    PwC Internship this Summer

    Posted: 24 Mar 2020 06:44 PM PDT

    Does anybody have an internship from PwC this summer? Me and like three friends (also interested in accounting) all applied to PwC and we haven't heard anything back at all. Do we assume we all got rejected for all positions? Is the internship program cancelled cause of the virus crap?

    submitted by /u/richguerre
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    Screwed up, depressed, don’t know what to do

    Posted: 24 Mar 2020 08:29 PM PDT

    Hi, I'm currently a student in Accounting. And I feel like I completely screwed myself over due to my cowardice and cluelessness.

    How should I start this? Well after graduating from High School I was completely clueless on what to do in the future and chose a random degree that sounded 'interesting'.

    After 2 years, I decided to transfer to a different degree (unrelated to accounting/business) because it was my best subject. I ended up with HD but I didn't have the courage to apply for honours. I suffer from pretty bad social anxiety and depression ever since I was a kid (self diagnosed but it was pretty noticeable). I was too scared to do the interview and the assessments kinda freaked me out because of an '1 hour presentation'. My degree was pretty useless without honours, but due to me being too much of a coward I didn't bother trying. Throughout this bachelor, I never attended any events/clubs and rarely ever attended classes and did everything online - as I was too scared to interact with anyone.

    After graduating, I wasn't really sure what to do. From the suggestions of parents I decided to do accounting. To be honest, I actually prefer teaching (for the subject I studied during my bachelors). But, my personality would never make this work out. I then had to delay my studies for a semester, due to an injury.

    During my third semester (end of 2019), I finally decided to to apply for an internship but I was not successful. I somehow managed to make it through to an assessment centre (after an online interview with prerecorded questions) but I was too nervous and completely screwed up. I also have trouble with my self esteem. Due to the amount of mental pressure it was giving me I had to drop one unit, and didn't perform very well in my academics.

    I had originally decided to try and do some volunteer work during the holidays to gain some experience - but that idea didn't work out due to the bushfires (Aussie). I have breathing issues and it wasn't possible to go out.

    I then had decided to apply for volunteer work this semester (4th semester and doing 2 units, with 3 units remaining), in particularly during volunteer week, and try to start joining some networking events. However, due to the current circumstances it's not possible. I have applied for 2 internships so far but I haven't received any replies.

    To be honest, I don't know what to do now. This semester won't be any productive due to the current situation. And I will be graduating next semester. I want to delay my studies for a semester and 100 % focus on finding an internship and gain some experience before I graduate, due to the career networking events and programs that our career department provides. However, I'm worried that things won't work out with the current virus situation and that I will only delay my studies by a semester- which would look bad on my already looking bad resume. If I were to graduate next semester, however, I won't be able to receive any benefits from the university's careers department.

    My current mark for this masters degree is a only little bit higher than a D. I also barely have any work experience. I have absolute 0 % confidence that I'll land in any internship or job. I am also already 25.

    What should I do now? I am completely clueless on what to do. I am clueless on how I should find some kind of job. I feel completely depressed.

    Thanks for reading all the junk up there. I would really appreciate it if you gave me some advice.

    submitted by /u/Co0kieD0ugh
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    Salary for Big 4 seasonal Associate

    Posted: 24 Mar 2020 12:24 PM PDT

    I see that KPMG and PwC hire Seasonal Associates.

    How many weeks do they work?

    What amount of salary/pay do they get?

    submitted by /u/today-is-the-future
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    Tell me what's nice about your job

    Posted: 23 Mar 2020 11:40 PM PDT

    I did it. Just spent 110 bucks to start the process of getting an accounting degree. It's the most money I've ever invested in myself. I'm 26. Only ever worked retail, banking or call centers. Have two kids. My husband just lost his job because of COVID-19 and I'm ready for a change. I'm tired of being poor and called unqualified for everything I apply to. I'm sick of minimum wage. I want the house. I want the peace of mind knowing I can provide for my family. My husband doesn't know what he wants to do and I'm ready to take the lead.

    It's college. But my understanding from haunting this reddit for a while is I can transfer my credits to University and to shoot for a CPA as soon as possible. And the real goal while in school is network, network, network. I'm in Canada right now, so I know the pay opportunities are less than my American friends. And I'm still in the dark regarding career path. But damn it, I need something that's mine and I don't care if people call me boring and I don't care if I'll be 30 and starting late in life.

    I've felt totally lost career wise so far. It seems impossible to get anywhere without a degree anymore. Despite working hard no one takes me seriously, now that I'm a mom it's even worse. People treat me like a joke, and that's IF I can get an interview.

    I need a future that isn't buying my groceries at the dollar store anymore. Now that jobs have dried up it feels like the perfect time to be a student.

    I've done my research and I can't find a single problem with accounting so far other than it can be kind of boring/or the usual office politics. I know I can do it. I think weirdly I'd even like it (I liked all the stuff I did with the bank, even if it was fairly simple). I like problem solving. I like organizing. I like terrible puns.

    Most importantly I'd like a paycheck that doesn't make me want to cry.

    This turned into a bit of a rant. Sorry. I just needed to express myself somewhere. (Big moment for me, never had confidence to go to college before.)

    I was hoping you guys could tell me the positives about your jobs so I don't feel like I'm making the worst mistake of my life? I hear the usual gripes on here. But in all honesty - Was the degree worth it? Do you like being an accountant? Anyone else start later in life and feel like a total failure and does that feeling pass? To my fellow Canadians - is the pay worth the degree?

    Tl;dr: Tired of poverty. Applied to college as a mature student. Making sure I haven't lost my mind wanting to be an accountant.

    submitted by /u/emlocklin
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    IRS Revenue Agents - Hiring Now

    Posted: 24 Mar 2020 06:45 AM PDT

    Hi all,

    I posted a thread last week about Grade 13 Revenue Agent hiring for the Large Business and International division See Here.

    Those postings are now live.

    Expected start date of September 14, 2020, interviews likely sometime in June.

    Domestic:

    Northeast (CT, MA, RI): https://www.usajobs.gov/GetJob/ViewDetails/563542800#

    East: https://www.usajobs.gov/GetJob/ViewDetails/563043800#

    West: https://www.usajobs.gov/GetJob/ViewDetails/563539300

    International:

    East: https://www.usajobs.gov/GetJob/ViewDetails/562883200

    West: https://www.usajobs.gov/GetJob/ViewDetails/563541200#

    International Individual Compliance:

    San Francisco: https://www.usajobs.gov/GetJob/ViewDetails/563419100

    Pass-through/Global High Wealth:

    Nationwide: https://www.usajobs.gov/GetJob/ViewDetails/563453400#

    submitted by /u/GrumpyGalka
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    I need help with this statement of Cash Flows. (homework help)

    Posted: 24 Mar 2020 07:11 PM PDT

    I am doing a project for college and I have to do a vertical analysis of the financial statements, but the hard part for me is finding all of the figures inbetween. Right now I am really stuck on calculating the Net Cash Provided by operating activities. I have my own number but it doesn't match up with the number I'm supposed to have.

    I'm not sure how to ask for help because I don't want anyone to do it for me or anything, but I also feel like I really need someone to walk me through it. The thing is that it's an online school and I want to finish soon, but the professor isn't available for another few weeks, so it's not really an option. If anyone can provide me some help through DMs or something let me know. I don't really feel comfortable posting the whole excel here so just let me know if you can help ::)

    submitted by /u/Idohaveaname
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    Should I renege SLP offer?

    Posted: 24 Mar 2020 01:58 PM PDT

    The firm SLP is being converted to Online Zoom meeting so I cant meet any females. So there isnt any point for me to go to the SLP should I renege?

    submitted by /u/PM_Me_Ur_AssAndFeet
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    Just started working as a graduate accountant at a small company (second week), however I got a call from KPMG calling me in for an interview. How should I tackle this?

    Posted: 24 Mar 2020 10:37 PM PDT

    The job is KPMG - audit and assurance and it's a graduate job starting in 2021. Is it worth jumping ship to another company or should I stay where I'm at?

    submitted by /u/BadLuckSonu
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    What is tax busy season going to be like now that the filing date has extended?

    Posted: 24 Mar 2020 09:43 PM PDT

    This is my first year full-time in public accounting. I'm getting mixed responses from my co-workers. Either April busy season is going to bleed into fall busy season, or we might be a bit lax towards end of summer.

    Still working late hours. Wondering when it will end because HQ is being vague.

    submitted by /u/ai245iw2vkz9m21
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    How close can you get to other people in this business?

    Posted: 24 Mar 2020 03:20 PM PDT

    As a student, I always hear professionals talk about how much their firms care about them. They're always hanging out after work or going to each other's weddings. That sounds great, but I recently discovered that one of those professionals left their firm (Big 4) and moved to another Big 4 the semester after telling me how great his life was with his old firm.

    If that was the right career choice for him, I would have done the same thing were I in his position. That got me thinking, if loyalty and relationships can be bought and sold so easily, how much can we invest ourselves in these workplace relationships? If we spend so much time working, where can we build lasting, meaningful friendships/relationships with people in our 20s/30s that don't have a conflict of interest with our professional goals?

    submitted by /u/Fluid-Direction
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