• Breaking News

    Monday, March 23, 2020

    Home Unlabelled Accounting The most useless button ever created.

    Accounting The most useless button ever created.

    March 23, 2020

    Accounting The most useless button ever created.

    The most useless button ever created.

    Posted: 23 Mar 2020 09:17 AM PDT

    It's not cheating. It's just rolling forward homework.

    Posted: 23 Mar 2020 11:51 AM PDT

    Senior Partner believes coronavirus is a media hoax

    Posted: 23 Mar 2020 07:34 AM PDT

    Like my new at home standing desk? Powered by coffee and chegg, just like me.

    Posted: 23 Mar 2020 11:05 AM PDT

    PwC Canada's response to questions about layoffs in audit/assurance

    Posted: 23 Mar 2020 03:38 PM PDT

    Direct transcript of PwC Canada's response to questions surrounding layoffs. All info is taken from a March 20 webinar that PwC Canada held for all their assurance employees:

    Question:

    -- Someone brings up the Air Canada layoffs --

    "There's a concern on what's the financial impact on the assurance practice and the firm and are there going to be layoffs?"

    Answer:

    "Quite the opposite, like look at, again back to, our… our practice has never needed to be there [physically] and it's so important right now in terms of the capital markets. There are a lot of auditing, accounting issues – the concern is that we're actually too busy to get stuff done, which is why we're talking about, you know, I know it's hard, but being proactive. In our risk- all parts of the assurance practice are super in-demand and even more relevant, and so our challenge is actually: "How do we respond to all the work we have to do?" and "How do we figure out how to do it?" So hopefully that's clear."

    submitted by /u/Actual_title_name
    [link] [comments]

    My favorite part about being a first-year associate is the constant feeling of inadequacy

    Posted: 23 Mar 2020 09:48 AM PDT

    I'm five months in and I just feel like I keep fucking shit up. I'll forget little things (like updating dates) on workpapers, or I'll lose track of whether I've received support docs/sample selections for one of the 3-4 engagements I'm actively working on. I've just noticed that I keep making absent-minded mistakes - stuff that in hindsight I realize is stupid, and I can see exactly where I went wrong. Not to mention there's a ton of really niche industry accounting (O&G for example) that we work on, and I feel like a deer in the headlights not having any idea what my in-charges are even talking about, sometimes. Idk man, I just feel like I'm a burden to the seniors/managers on my engagements.

    Sorry for the brief bitch-sesh and cliche whiny-first-year post, but I just needed somewhere to vent. Any other first-years feel this way?

    submitted by /u/ShittyAcct
    [link] [comments]

    WFH, Week 2

    Posted: 23 Mar 2020 01:50 PM PDT

    So, all is going well. I'm starting to enjoy our daily conference calls where I get to hear about the many technical woes of the over-50-somethings in various departments. Been getting a lot of extra stuff done that I'd normally put off (this just reminded me to hit up marketing about their ongoing projects) and I'm feeling good. The highlight of my day so far was finishing a file I put together to analyze our forecast vs actual numbers from last year. Took me a couple hours and basically just told me that forecasting is way off like 100% of the time. haha. Even made a cute little graph.

    How are you all doing?

    submitted by /u/idkmanijdk
    [link] [comments]

    Does anyone else think this WFH period is actually going to have the opposite effect from what everyone says, and that WFH will be more discouraged?

    Posted: 23 Mar 2020 08:19 PM PDT

    It's a pretty common saying in most office jobs that we could all do this job from home in our PJs if the office just let us.

    Well, the office, willingly or no, has let us. And honestly, I think this might be a nail in the coffin for any hopes of standardizing working from home. I don't think I'm alone in saying mine and my colleagues efficiency is down. I can't as easily ask peers or seniors for help or advice. I don't have access to mail which sucks especially in tax, where we still get paper stuff from clients frequently. Obviously no access to scanning or printing. Calls every fucking day now as 'check ins' when I never had to 'check in' working from the office. Lack of even the small bullshitting around the water cooler which I think is a negative. I don't have kids but I'm told it is tough to deal with them, particularly if they are very young, when you're supposed to be working.

    I just forsee the partners and managers/senior managers that are future partners living this time and saying, "Yeah... the work from home experiment doesn't work."

    I personally would rather firms invest in a good office space that limits distractions while providing perks if you choose to utilize them, i.e, gym, food options. Think something in the mold of Apple or Google but with less bullshit open office hippie crap.

    submitted by /u/Red_Rifle
    [link] [comments]

    Why is accounting essential business during the pandemic?

    Posted: 23 Mar 2020 04:47 PM PDT

    My firm is still having us go into the office (I don't mind working from home but we are not given that option) and I was hoping a government enforced order to shutdown non-essential businesses would save me but I just saw 2 different lists and both said accounting services are essential and may continue physical operations. Why??

    Edit: Payroll services (which I could understand) are actually listed separately from accounting services in both lists I saw.

    submitted by /u/SuperChubbyKitty
    [link] [comments]

    I did it, I put in my 2 weeks!

    Posted: 23 Mar 2020 12:29 PM PDT

    Not from public accounting though, but I had a question regarding an exit interview.

    What's the professional way to say in an interview that you were underpaid?

    Both versus market value and to other co workers who do less valuable work.

    I have other legitimate concerns but the main driver is that the compensation is not consistent for my position that I am leaving.

    submitted by /u/throaway9875
    [link] [comments]

    Recruiters: Pass/Fail or Letter Grades?

    Posted: 23 Mar 2020 03:25 PM PDT

    I have a question for public accounting recruiters out there, but here is some context first:

    My University has moved 100% online for the rest of the semester. Due to the unfortunate situation, they have given all of us the individual opportunity to switch to Pass/Fail for this semester. We can also stick with traditional grades. The idea is that Pass/Fail will not help or hurt our GPA, and traditional grades will hold their normal weights in regards to GPA.

    I currently have a 3.85 GPA, but I'm afraid that I will not be able to hold this up during the rest of the semester due to the unfortunate lack of instruction I am receiving online, so I am contemplating on taking the Pass/Fail option.

    Would the Pass/Fail option hurt my chances during recruiting since I would not have letter grades for this semester, or should I accept letter grades and possibly have my GPA drop?

    submitted by /u/ramrod236
    [link] [comments]

    Interview Tips

    Posted: 23 Mar 2020 04:59 PM PDT

    For those of you who may benefit from this. A document our recruiting firm has put together over the years.

    SELL FIRST, BUY LATER

    One of the biggest mistakes that most people make when interviewing is tied to their mindset: most people go in as a "buyer" (what's in it for me?) when they should be going in as a "seller" (what can I do that will benefit this company?). The buyer's approach almost always guarantees that the job offer will go to someone else. It is human nature to go to an interview and wonder, "would I want to work here?" However, that's a moot point until the company is prepared to make you an offer. You have to push that question out of your head before you walk in the door for the interview, and make sure your focus is "I need to SELL MYSELF today and make sure this company understands what strengths and experience I can offer them." You need to EARN THE OFFER first, and then you can perform your final due diligence to determine if you want to work for the company.

    DO YOUR HOMEWORK

    We live in a world of free information. Companies have a wealth of information on their websites. Wikipedia has great summaries of many companies. LinkedIn will likely have information on the background of the interviewers. Review this information prior to the interview. This may seem overly obvious, but our clients consistently tell us that interviewees who applied to their jobs online often know very little or nothing about their organizations.

    ENTHUSIASM

    Be positive, be energetic, and show some enthusiasm about the company and the position. Whether it's their industry, their size, their reputation, the nature of the work, all of the above, or something else, find something positive to discuss that explains why you are interested. If you don't show any enthusiasm towards a company during the interview process, they will assume you will bring no enthusiasm to the job, so they'll never make you an offer.

    IMAGE

    Yes, your image matters. Shave, remove nose and tongue piercings (yes, people really come into our offices with these), cover your tattoos, avoid perfumes and colognes, and wear a suit unless instructed otherwise. Avoid off-the-wall colors when selecting shirts, ties, blouses, etc. Again, this may seem overly obvious, but we hear stories regularly about people violating one or more of the tips listed above. These candidates are usually ruled out before the conversation has begun.

    STANDARD QUESTIONS TO BE PREPARED TO ANSWER

    1) Why are you looking to leave your current employer?

    Always be positive! Do not badmouth any employer.

    Example: "First of all, I'd like to point out that working for XXX has been a great experience and I've learned a lot about A, B, and C (you could discuss systems, the industry, technical matters, anything relevant here). That said, I feel like my learning curve has plateaued (or we're being sold, we're downsizing/moving, mention a plausible reason for change) and I'm ready to move to the next step in my career and take on new challenges."

    2) The "Strengths" Question. What are your Strengths?

    Don't just rattle off a list of strengths and hope your audience believes you. Mention your legitimate strengths and elaborate with some real-world examples that will provide evidence that you truly possess those strengths.

    Typical strengths to discuss:

    · Technical skills and industry knowledge

    · Team player

    · Multi-tasking capabilities

    · Global thinker (able to see the big picture and the detail)

    · Optimistic/Can-Do Attitude (not above any task)

    · Oral and Written Communication Skills

    · Interpersonal Skills

    3) The "Weakness" Question. What are your weaknesses?

    Be careful here, because the interviewer is really asking you "give me a reason not to hire you."

    One of the best ways to answer this question is to mention a weakness that is related to one of your strengths. Then discuss what you have done to improve upon your weakness. Here's an example:

    "Well, I think that one of my biggest weaknesses is tied to one of my biggest strengths. As I mentioned earlier, I believe I'm a true team player and I like to see other people succeed as much as myself. One weakness that I've had to work on is that I can be overly eager to say 'yes' to people when they ask me to take on more work. In the past (make sure to use the words IN THE PAST to help emphasize that you have been improving), I would sometimes find myself with too much on my plate, so I would be scrambling to finish everything that I had committed to."

    "Over the last few years, I've become much stronger in taking a moment to consider what someone is asking me to do before saying 'yes.' I will let someone know that I definitely want to help if possible, but now I'll ask questions to understand how long it will take to do something and understand how urgent the request is, and I'll only say 'yes' once I know I can truly help them. If I can't do it, I'll share some ideas to find an alternative way to solve their problem."

    4) The "Similarity" Question. Do you have experience with "X"?

    Never just say "NO" - Focus on SELLING yourself and your existing skills, and keep the interview positive.

    Example answer: "While I haven't worked with X, I have worked with Y and I believe that they're quite similar. Plus, I'm a quick learner, so I am confident that I can learn X quickly."

    5) What type of job are you seeking? OR What are your short-term goals?

    Answer this by doing a couple of things:

    ​

    1. Generically describe the job that you're interviewing for.
    2. Take a look around at the culture of the department and describe it.

    Example: "I'm looking for a position where I can take my current experience with doing X and make a positive contribution while learning to do more activities like Y. Also, I want to work in a fast-paced environment with a lot of dynamic and bright people in a growth-oriented company."

    6) What are your long-term goals?

    Don't be too specific and only mention one path here, and don't be glib and say, "I want your job."

    Example: "In the long term, I would like to utilize my experience and interpersonal skills to one day move to the position of Director or VP, and ideally be leading and managing others. That said, I've learned throughout my life that things can change and you need to remain flexible and adaptable. I'm confident that if I work for a good company and I focus on doing the best possible work in the short term, then good things will happen over the long-term."

    7) How much money do you need?

    Your first response should not include any type of number or range of numbers. (Because if you come in too high, you put yourself out of the running for the position, and if you mention a number too low, you miss out on money that could be waiting for you)

    Example answer: "It's hard to give you an exact dollar amount. While compensation is an important factor, I'm really more focused on the overall opportunity."

    8) Do you have any questions?

    First, DO NOT ask about overtime, benefits, compensation, tuition reimbursement, equity, bonuses, parking, working weekends, retirement plans, etc. If you ask these questions now, you'll sound like you assume the company wants to hire you already, and you'll turn them off. You can ask about these topics AFTER they make you an offer. These questions are fair only when you are deciding whether to accept their offer.

    Instead, this is where you continue to show your enthusiasm for the position and open the door for you to sell any points that you haven't had an opportunity to discuss during the course of the interview. After the interviewer answers your questions, take time to give examples of how you fit the descriptions given.

    Examples of the questions you should ask:

    ​

    1. "What qualities do you think it takes to be successful in this position?"

    After the answer is given, give examples of how you possess those qualities.

    ​

    1. "What do you think the biggest challenges will be in this position?"

    After the answer is given, give examples of how you've dealt with similar challenges, or tell them why you are comfortable that you can deal with those challenges successfully.

    ​

    1. "How would you like to see a person develop in this position in the future?"

    (Use this language instead of, "what is the growth opportunity for this position?" – you'll get the same answer, but your phrasing is more constructive and exhibits that you respect their opinion)

    After they describe how someone can grow and develop, take this opportunity to show your enthusiasm and communicate that you are confident you have the ability to develop in the way described.

    ​

    1. "Can you tell me more about the culture of your company?"

    People love to talk about themselves and their companies, so they'll describe some positive things about their organization, which will allow you to say, "Great, this is the type of environment I would love to work in."

    ​

    1. "You've given me some great information and I'm very interested in this opportunity, so I don't any more questions right now. Is there anything else you'd still like to know about me?"

    This is a very polite way to wind things down, and you've expressed interest in the role near the end of your meeting. It then gives you the opportunity to address any remaining questions that the interviewer might have.

    END WITH A FIRM HANDSHAKE, A SMILE, AND ONE LAST COMMENT:

    "Thank you again for your time. I've enjoyed our discussion and I hope I've earned the chance to continue exploring this opportunity. I hope to hear from you soon."

    submitted by /u/ua1414
    [link] [comments]

    Can you make a living wage as junior/staff accountants? No CPA (in Canada)

    Posted: 23 Mar 2020 03:12 PM PDT

    So I'm in my late 20's and I had some health related hardships during my early 20's and I only managed to get a 2 year exec administration diploma. I worked various admin jobs and later landed a couple of jobs that introduced to me accounting. I like working with numbers.

    I took 3 accounting courses, and a taxation course in college but that wasn't enough (plus it was a long time ago). I struggle with some concepts, plus my boss is clueless and there's no one else to ask for help. So I'd love to advance my skills.

    I'm thinking of taking a 2 year Accounting diploma. I could start in May. There are other options, my college offers different accounting degrees. But I'm not 20 anymore and I don't have time to spend another 4-5 years in school full time.

    So that being said I likely won't be pursuing a CPA. What types of roles would be suitable for me with just a 2 year diploma and some work experience? I guess without a CPA I won't be able to climb the ladder but that's okay. (For now)

    submitted by /u/sundaysundae1
    [link] [comments]

    What do you think of the Pass/Fail grading system

    Posted: 23 Mar 2020 08:13 PM PDT

    Hey! I'm thinking of doing the pass/fail to one of my course this semester. Do you think it will have any impact on my chances of getting into a top grad school and what do you think these recruiters will think when they see it on your transcript?

    submitted by /u/newsforjay
    [link] [comments]

    Quitting - what’s the best process?

    Posted: 23 Mar 2020 07:52 PM PDT

    Should I notify HR before my partner, or vice versa? Make it a conversation or just provide my notice in a letter.

    I know quitting is a normal and frequent event at Big 4, but even after being here for 5 years, I'm not sure what steps I should take to stay on the best terms. Any advice appreciated.

    submitted by /u/hashbrownhippo
    [link] [comments]

    Transferring post-internship?

    Posted: 23 Mar 2020 05:29 PM PDT

    If I did a Big 4 Summer Audit Internship in Atlanta, how difficult would it be to transfer to NYC for full-time after graduation?

    submitted by /u/carson_sander5
    [link] [comments]

    Can someone please help me with my balance sheet? I double checked my income statement and retained earnings and it’s all correct but my balance sheet is $5000 off

    Posted: 23 Mar 2020 01:09 PM PDT

    Need video lecture recommendations

    Posted: 23 Mar 2020 07:07 PM PDT

    I'm taking managerial accounting online- my last accounting class, thank god.

    Past students have warned me not to take this particular professor, but the other class was full. I predict that I'll be self teaching on my last quarter. Who do you recommend for YouTube lectures? Is managerial accounting any easier than financial?

    submitted by /u/cold-smilehoodie
    [link] [comments]

    Not learning anything practical in MACC

    Posted: 23 Mar 2020 06:58 PM PDT

    I'm a career changer currently in school for my a MACC. I already have a masters degree in another completely unrelated area and was advised the MACC degree would be better than pursuing a second bachelors. Anyway, I'm about halfway through and I feel like I'm learning nothing practical. I come from a healthcare background and I know NOTHING about business. My program doesn't do anything with excel and almost everything is about analyzing financial statements. Is this typical? I'm concerned whenever I apply for jobs I will be way in over my head.

    submitted by /u/inquisitive2017
    [link] [comments]

    Learn Xero with My best seller Xero accounting course - 50% OFF- 5 Days Deal

    Posted: 23 Mar 2020 10:36 PM PDT

    Hi,

    Learn Xero Accounting with my best selling course.

    4 hours content having 61+ Lectures

    In this course, you will able to learn following:

    1. Xero Setup
    2. Xero Purchase / Sales / Expense Claim
    3. Bank Reconciliation in Xero
    4. Xero Payroll
    5. Inventory in Xero
    6. Xero Reporting
    7. Xero Budgeting
    8. Past data import in xero
    9. Chart of Accounts
    10. Conversion Balances

    Join here - Link ( 5 days offer)

    submitted by /u/catarannum
    [link] [comments]

    Tax practitioners, are you still working busy season hours?

    Posted: 23 Mar 2020 07:12 AM PDT

    Just want to get a feel for what everyone else is doing. My gut says we should be working 40-50 hour weeks now that the deadline is pushed.

    Edit: I'm down to 55-60

    submitted by /u/Red_Rifle
    [link] [comments]

    Career conversations

    Posted: 23 Mar 2020 01:46 PM PDT

    Hello,

    New tax staff here. I'm finishing up my first busy season with the firm and have a career conversation with my coach (manager) in the next couple weeks and had a few questions.

    1) What are somethings I should focus on during this conversation?

    2) What are some measurable goals I can set? The only truly measurable goal I can think of is finish the cpa exam (I have 2 parts left). Obviously my goal is to become a better accountant but how can I quantify this in to a measurable goal?

    3) How do I make that transition from clueless first year staff to experienced staff that has potential to become a senior?

    Thanks in advance for your help.

    submitted by /u/tbwalker02
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment