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    Accounting Small-firm partners explaining why the office is still open

    March 21, 2020

    Accounting Small-firm partners explaining why the office is still open

    Small-firm partners explaining why the office is still open

    Posted: 21 Mar 2020 06:23 PM PDT

    Welcome to the US Tax System

    Posted: 21 Mar 2020 05:44 AM PDT

    Am I working more hours but billing less?

    Posted: 21 Mar 2020 10:52 AM PDT

    When you give a reasonable explanation as the why WFH billable hours are down

    Posted: 21 Mar 2020 01:58 PM PDT

    What this game of public accounting is gonna be like for the next few weeks

    Posted: 21 Mar 2020 07:26 PM PDT

    If you value your job dont let the covid 19 bottleneck be from you. Yeah, were wfh, but if the PBCs are coming in full steam and you're the one whose slow and not them you're gonna have alot of explaining to do.

    My advice is whenever the balls in your court for stuff, put it make into the clients asap. If they're slow. Do a good job keeping a spreadsheet tracker of date of requests

    Your job might depend on this.

    submitted by /u/CryptodepotCA
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    Working from home while my barber and gym is closed indefinitely.

    Posted: 21 Mar 2020 08:22 AM PDT

    When the tax deadline is delayed but you still have to work Saturday

    Posted: 21 Mar 2020 07:06 AM PDT

    The weight gain is real

    Posted: 21 Mar 2020 02:40 AM PDT

    Who else has gotten laid off?

    Posted: 21 Mar 2020 06:19 PM PDT

    We were already working from home but my company just laid off roughly 25% of employees in this second round of playoffs. First round of playoffs was 6 weeks ago and 10 people out of a 150 person company. Located in Seattle. Private small company.

    submitted by /u/burntoutaccountant
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    How my family sees me, a Big 4 Auditor.

    Posted: 21 Mar 2020 11:50 AM PDT

    Oh god, No!!

    Posted: 21 Mar 2020 05:36 PM PDT

    What’s the possibility of my FT offer at a big4 been canceled due to the Covid-19 and the possibility of a recession this year? I am starting in July. So I am kind of skeptical about it.

    Posted: 21 Mar 2020 10:30 PM PDT

    Offer Revoke during the recession?

    Posted: 21 Mar 2020 10:29 PM PDT

    Hi, I am starting working at B4 audit from this fall. As the economy is impacted, I am afraid of offer getting revoked. Is there anyone who experienced 2008 recession and saw how things went through?

    submitted by /u/rorenka18
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    How to deal with annoying, bossy colleague which doesn't outrank anyone?

    Posted: 21 Mar 2020 10:07 PM PDT

    My work environment is peaceful, everyone is peaceful. In my department we help each other, our supervisor is our leader. Besides our leader we have "experienced users" which are like "senior accountants", they can give orders too.

    Anyways, I've been working here for a year, got this colleague, we joined the company on the same day. This guy has been extremely annoying, he likes showing off that he "can lead". Usually I wouldn't mind if someone is more ambitious than me, I'm not ambitious and I'm happy with what I have. But this guy just doesn't know how to lead, he gives orders to people his same rank, he asks stupid questions without analyzing any situation or information, he just wants you to spoonfeed him answers and he makes sure our team leader knows he's "leading". I don't mind being lead by someone else, I do mind being lead by an incapable person. They chose me to lead an irrelevant project and he got assblasted that he wasn't picked, so he simply decided not to help at all.

    Like this guy sent us an e-mail yesterday reminding us of a deadline for next week, CCing our direct supervisor and everyone in the team, this is a task everyone knows we have to do. That's way out of his duties. I'm having a hard time not replying with a sarcastic "hey thanks for reminding us of the monthly deadline X, I'll keep it in mind".

    submitted by /u/labradf0rd
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    Thought it'd fit here

    Posted: 21 Mar 2020 02:14 AM PDT

    [Rant} I think I just don't like Audit as a whole

    Posted: 21 Mar 2020 05:15 AM PDT

    I spent a few years in a Big4 firm doing External Audit for Financial Service Clients. Eventually I quit because as a senior you're responsibilities keep increasing and so do the people you answer to.

    But I think the biggest reason that made me quit is I just couldn't bring myself to like audit. At big4 yes its a revenue generating role. However the work we do doesn't add any value. Lets face it, the reason clients find us is because they have no choice. Its part of the rules for many things that they need a audited financial statement with a unqualified opinion. No matter what we do, there's no real value we can add onto clients no matter what we do. Clients don't want to see us but are forced to. It actually makes me more mad when Partners say we should "add value". You know what that means? It means the partners will deliberately start nitpicking even the smallest item so they can go, HEY WE FOUND SOMETHING HERE! (Well not immaterial stuff but the whole exploring every angle that even the client hasn't thought about) But all that nitpicking just puts more pressure and stress on us. Its also a sign of screaming insecurity and its really laughable how some Partners think we are like consultants. Tell me? Does Mckinsey need to resort to such measures of nitpicking some minor control deficiency to prove they are adding value to the client? In their words the partner could say while this control may be affecting immaterial stuff ,FROM THIS ANGLE, this deficiency could be significant in a non-tangible way etc)

    Whats worse is I ended up doing Internal Audit for Bank after I left big 4 because there wasn't really anything else. According to everyone financial reporting is dull as hell and is treated even lower. There's FP&A but those roles are very rare. Forget about any deals work, I don't have experience there and everyone wants those jobs too. Compliance and regulatory stuff seems to be the big deal in financial services for obvious reasons (Fine, regulatory violations etc). So my internal audit job was based upon those things.

    Internal audit is better than external? For some reason it didn't happen at my job but I think its just limited to my job. Anyway the same issues occur like in external audit. Again the problem is about the fact you don't add any real value. You could say it helps prepares the bank's controls be better. But many banks it doesn't work at all which is why they are still getting fined etc. Its actually worse coz you no longer generate revenue but are a cost center. Therefore again you need to "Prove you are adding value". Therefore the team is inclined to nitpick as many small things as possible to prove we are doing our job and contributing something to the firm. Which in turns puts even more pressure on unnecessarily. Your power isn't as strong compared to the external auditor. You have to establish good relations with the departments you are auditing because after all, they are the reasons you have a job so you better not step on any toes. But you will anyway because you have to find some kind of deficiency which in turn will make them mad and question you constantly about it. All that nitpicking and the bank still in trouble anyway. Whats the point? Its actually even worse at my place coz the firm has a paranoid culture and assumes everything is wrong. Therefore apart from us needing to nitpicking, there will be a QA team needing to nitpick on us to see if we really investigated everything or slacked off. At least at external audit this isn't the case unless of course the client really is big and so is the fee which is to be expected.

    Btw the hours in IA are better. But its still project based. So sometimes we need to work overtime in order to make sure we are up to speed. This is especially important when raising issues with the samples or requesting new items since we all know departments can take a VERY LONG time to process the requests. Unlike external audit, you don't really have the same level of authority to make sure they follow up fast enough. And unlike external audit, your quality of work is expected to be very good since you're a cost center so you better be generating something worth the money.

    So yeah I know why we do audits. But to me it doesn't really add value and a lot of it is trivial nitpicking. You may say you I don't have the mind of an auditor. And I say this is what audit is supposed to be? Then I rather not be part of it !!!!! Again I don't see other departments needing to be so insecure about "adding value". Thats why I probably am not good at audit because I just don't like the work and more importantly the process behind doing it. It would go under those bullshit jobs as just duct tapers.

    But the problem is what else can I really do? I probably need to get out of auditing but I don't know what other viable fields there are.

    submitted by /u/Throwawayacct1015
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    Full-time Macc w/ internships vs. Part-time Macc while working FT with no internships?

    Posted: 21 Mar 2020 08:27 PM PDT

    Title. Located in LA County, CA. I'm in a completely unrelated field, been looking into a career transition for the longest time. Probably going to wait until the current "situation" blows over.

    I've been somewhat debating between staying at my current employer who pays up to $5k/yr in tuition and working toward a Macc part-time and just going all-in and finishing up the Macc in 1-year with an accelerated program like CSULB. The obvious pro of PT I can cover much of the cost, but with the FT route, I can look into internships.

    So keeping that in mind, just how important is the internship side of things for job offers?

    submitted by /u/ElRamenKnight
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    How did you become an accountant?

    Posted: 21 Mar 2020 03:10 PM PDT

    I'd like to ask someone a few quick questions about how they got into their career for a school project. I just want to know what education path you took, any organization you recommend and tips for new students.

    submitted by /u/SplopSounds
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    Best part of WFH is an end to the nonsense work

    Posted: 21 Mar 2020 02:46 PM PDT

    Pre-coronavirus, I would often be told my my in-charges/managers to complete workpapers that didn't in any way affect the return, to triple-check figures just for the hell of it, etc. While there may have been a reason for some of it, it often seemed to me like a conspiracy to charge the client more in billable hours. Since everyone started working from home this week due to the virus, we still are completing the work needed to prepare the returns, but it feels like the firm management has thankfully decided to reduce/eliminate the busy work. I actually feel like I am way more productive now that I can focus on the returns and not have to deal with that nonsense.

    submitted by /u/dsm1324
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    Sr. Accountant Role Prep

    Posted: 21 Mar 2020 11:51 AM PDT

    I've been in AR for 3 years and finally got a job as a senior accountant. This is in industry and not public. I was told I'll be doing general accounting work, such as journal entries, balance sheet, etc.. I've only done balance sheet and journal entries in school. How can I prepare for this job? Would my employer expect me to know everything? Please let me know if you know of any good resources (sites, vids, books). Thanks!

    submitted by /u/JamalKhalid
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    EY and PwC interview

    Posted: 21 Mar 2020 09:06 PM PDT

    Hey guys! I have an EY interview for the FSO Assurance internship for next summer coming up and I was wondering if anyone could give me any tips on how to ace the interview. Also, if anyone has interned at EY for the FSO assurance and could give me any information on how that was like and what to expect I would really appreciate it. I also have an interview coming up with PwC for the start internship this summer. Any advice on the interview process and the internship in general would also be helpful. I don't have much experience with interviews so I'm a bit nervous and want to know what to expect.

    submitted by /u/oliviabenson9
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    Should a person pushing 30 pursue Big 4?

    Posted: 21 Mar 2020 12:18 PM PDT

    About to be a junior at a state school that heavily gets recruited and need some advice on which path to take.

    Is the Big 4 environment the right fit for me? Will those guys give me a shot or is it a young mans game, will they even hire me at all?

    Will I be able to stick it out through one busy season or perhaps 2?

    Other than the Big 4, what other paths would you recommend for someone in my situation? Industry, government?

    ​

    Thank you

    submitted by /u/SmokeSomeHay
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