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    Accounting The World vs Accountants

    March 22, 2020

    Accounting The World vs Accountants

    The World vs Accountants

    Posted: 22 Mar 2020 09:09 AM PDT

    WTF do you people want?

    Posted: 22 Mar 2020 01:03 PM PDT

    The amount of whining in here is unbelievable and the only place reason is expressed is buried in a few threads' comments. But my god this "pandemic" has shown how entitled some people are..

    I'm reading posts and comments of people complaining about still having billable work during this time. About how hard it is to work from home. How greedy firms are being by sacrificing our health by asking us to continue clicking our keyboards.

    For the love of god what else do you want? Would an indefinite paid leave be the only thing that would be right in your eyes? Millions of low and middle class people out there now would gladly risk getting Corona if they could just get some hours in to earn a paycheck, and we're all bitching even though our checks keep rolling in while doing the same work from the comfort of our own living rooms?! Surrounded by loved ones?? Fuck is wrong with y'all??

    Doesn't apply to firms still required to go in. Post is pretty obviously targeted at those that are keeping their jobs remotely and yet still complaining.

    Go ahead and downvote me into the 2nd dimension.

    submitted by /u/burner3815679
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    Accountants who graduated in the 2008 recession, what can students expect?

    Posted: 22 Mar 2020 09:15 PM PDT

    for those who graduated during the 2008-2009 financial crisis, can parallels be made to the current situation? did firms take back their offers? do you think starting your career in a down economy had long-lasting effects, compared to those who say started during expansion?

    submitted by /u/trialanderror93
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    When your intermediate 2 class switches to online only for the rest of the semester

    Posted: 22 Mar 2020 11:28 AM PDT

    You’re a wizard, Harry. And a bloody good one!

    Posted: 22 Mar 2020 05:10 PM PDT

    Didn't get an audit internship I interviewed for. Feeling Depressed.

    Posted: 22 Mar 2020 06:49 PM PDT

    Sorry, I just needed to vent somewhere. Currently a senior in college. Just got an email that said I didn't get the internship I interviewed for. I get hurt by rejection but normally I move on easily. But this feels different. With what is happening in the world, especially with the economy going into a recession or depression, I am fearing the worst. Reading the "State of the Economy/Profession" thread on this subreddit the other day didn't help. I was old enough to remember the 2008 recession and seeing people lose their jobs. But I was too young to understand it. Pretty shitty time to enter the job market right now.

    submitted by /u/j1mmyava1on
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    If you have an offer from AUDIT or TAX...

    Posted: 22 Mar 2020 06:29 AM PDT

    Seeing alot of these posts in the last few weeks.

    If you are a hire in AUDIT or in TAX, most likely, your offers for the summer will be honored. All tax filing deadlines just got pushed back 30 - 60 days (depending on what country you are in). In other words, "busy season" is now in the middle of your start date.

    Note that audit based activities or tax based activities are REQUIRED FOR BUSINESSES. Even if there is a pandemic, the governments need their tax money (albeit delayed).

    If you are starting in advisory or financial services, it is more likely your start date is delayed.

    This is all based on discussions with friends at the Big4 and other companies (banks, consulting firms).

    submitted by /u/BlindngLight
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    Recent grad, passed CPA and working in public. Hate my job. What to do?

    Posted: 22 Mar 2020 08:13 PM PDT

    Yeah so I work at a small public firm in the SouthEast. Very small firm, like 6 partners, 2 managers, 2 seniors, 4 associates that have <1 yr experience which I am one of.

    I'm just looking for advice I guess as I am not sure what to do. Tbh I would consider myself an underperformer at this job. I started in the summer and basically sat at my desk doing nothing until January.

    I absolutely hate going to work each day. My bosses/coworkers are great, I just simply do not like accounting. I hate doing people's taxes. Auditing feels pointless and like we're just a nuisance at whatever company we go to, no value add at all. Just filling out pointless forms that no one will ever look at.

    I don't know how much longer I can do it, either from getting fired from performing badly or from quitting I don't see myself staying here. I just get no satisfaction out of this job. Maybe it's because I am new and can't get interested in it since I'm not experienced enough? I am not sure but this is just the most boring shit and I don't get how people can do this for their whole lives.

    I really just need advice. Do I need to go to a bigger firm? Does this get more interesting ever? Should I look for a job that's more finance/PE geared as I feel that might be a little more interesting. I'm not sure. I've already invested a lot in this profession with a BA and CPA so it feels terrible to give up but I am not happy at all

    submitted by /u/ac62617
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    Is this a bad time to switch jobs?

    Posted: 22 Mar 2020 05:51 PM PDT

    I got a very good opportunity but I'm so scared of switching jobs during this COVID-19. I'm going from AR person to a senior accountant. This role is for a food production company (beef processing and packing), $1.8 billion in annual revenue.. should I be worried? Thank you!

    submitted by /u/JamalKhalid
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    The current economic climate will show that your firm does not care about you and those who job hopped during the boom times will end up much better position all else equal.

    Posted: 22 Mar 2020 09:40 AM PDT

    People who did their time in public and jumped firms saw significant pay increases during the past few years. Many of them are at least 25-40% more money than their peers who did not job hop. Now with a very likely recession that's going to occur, many firms will either lay people off or even more likely your pay will be frozen and you won't get promoted. Or you will get promoted but without the pay increase. While those who jumped firms the last few years saw massive pay increases. This economic climate will show that having loyalty to your firm doesn't mean shit. These firms need to keep paying their retired partners and pension liabilities while you work your ass off for peanuts. I'd much rather have my pay frozen at a 25-40% increase over people who stayed loyal. Most people will now have at least a year of shit pay compared to their peers who job hopped. This is all considering both people keep their jobs. Even during the Great Recession the unemployment rate for CPAs was VERY low. Less than 4% I believe.

    submitted by /u/MarvelUniverse360
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    Is it even worth it to study for the CPA exams now?

    Posted: 22 Mar 2020 04:56 PM PDT

    Who the hell knows when they'll let us test again

    submitted by /u/_had2
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    Tips on Final Interview with a Big 4 Firm for summer internship

    Posted: 22 Mar 2020 05:37 PM PDT

    Hi!

    I will be doing my final interview for audit summer internship with a Big 4 firm in a few days and I was wondering if anyone can provide me with some tips on doing well. I prepared several questions for the interviewers and reviewed my resume/experiences and was wondering if there was anything else that I could do?

    ​

    Thank you!

    submitted by /u/dltmddn
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    Indeed Company Reviews

    Posted: 22 Mar 2020 03:56 PM PDT

    Hey All ,

    So prior to all this crazy shit I was interviewing for a job down in Florida. Its a manufacturing company with about 50+Mill revenue. I would be the 3rd in line in terms of Accounting. I liked the job because i would really get exposure to the whole business and not just a line on the B/S or P&L. Im from NY so its not like i know the reputation of the Business. I was contacted by a recruiter and when I searched for them i did not see any employee reviews. Well i just found them and its less then average. Most of the reviews come from labors. How much stock should i put into indeed reviews. .

    submitted by /u/KL040590
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    Brock BAcc vs Waterloo AFM

    Posted: 22 Mar 2020 03:38 PM PDT

    Hello,

    I am a grade 12 Canadian student comparing both programs. I'm currently trying to figure out the pros and cons of each program to help me decide where to attend. Here is what I have come up with so far...

    Brock:

    PROS

    1. aesthetically pleasing campus and location
    2. half the cost of AFM
    3. same time to complete CPA as AFM
    4. guaranteed Co-Op like AFM
    5. money has been invested into the Goodman school of business and is on the rise, so i hear

    CONS

    1. not as many big 4 spots
    2. lower program and uni rep (by a marginal amount)

    WATERLOO:

    PROS:

    1. more big 4 Co-Op spots
    2. able to study finance in case accounting isn't your forte (although not practical as waterloo finance isn't known)
    3. places couple of students in IB per year
    4. better program and uni rep

    CONS:

    1. double brock tuition for the same program
    2. campus looks worse than brocks and worse social scene and campus vibe
    3. much more competitive environment which does not promote friendliness collaboration
    4. program is often seen as "cliquey" from what I have heard

    please feel free to add your opinions and any points i missed as i am trying to help myself and future students who face this dilemma. There are previous posts like this but I feel as if thy are lacking input and are outdated.

    Cheers,

    submitted by /u/helpurboii
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    Do these partners have no humanity?

    Posted: 22 Mar 2020 07:17 AM PDT

    How are we still billing like business as usual during a Pandemic. I personally know people that are sick. I'll probably catch corona soon. My parents are immuno compromised. I've talked to other people at the firm that are anxious, depressed or completely burnt out.

    Soon enough our teams are gonna be short from people falling sick. Meanwhile we just keep getting more and more work. I knew they didn't care but come on.

    This feels like one big very sick prank.

    submitted by /u/ump13
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    Advice on prometric and cpa exam situation during last test

    Posted: 22 Mar 2020 02:22 PM PDT

    So, I took BEC a few weeks ago. During my 15 min break between the 3rd and 4th testlets, I idiotically made the mistake of stepping outside the facility, went to my car, grabbed a snack and piece of gum, and came back. I was outside a total of 3 minutes probably. When I got back inside, the prometric employee informed me they saw me on camera leave and would need to report it. I was shocked and distraught that I had made such an idiotic mistake. Hindsight is 20-20, but I truly did not believe I was doing anything wrong at the time. Anyway, I figured I would almost certainly be disqualified or receive a null score or something like that. Turns out I got my score on Friday and it was an 89 and no mention of what happened. Did I just get lucky, or is my demise coming shortly?

    submitted by /u/TrowUpAndAway123
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    Incoming B4 grad UK scared of potential layoffs

    Posted: 22 Mar 2020 08:05 PM PDT

    Hey guys, long tome lurker here. I've signed my contract and will be starting my grad audit role with a London b4 in September. With all the talks of quarantine and recession, should I be worried that I will be "laid off" even before I begin my role?

    submitted by /u/Ozzy_Chenz
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    I Tried It; I Cannot Do This Work From Home Thing

    Posted: 22 Mar 2020 10:05 AM PDT

    I (senior, tax) did not have permission to work from home until last week. This is my fifth tax season and I have never once worked from home. Last week, due to all that is going on it is required.

    I am not married to the person I live with. We do not have combined finances. She does not work a day job. Our apartment is tiny (as tiny as tiny gets). This whole "ask your family to be courteous of your work space" lands very different for us young folks. This is her living space too, and she doesn't owe her personal time to me and gets nothing out of sacrificing her QOL like a nuclear family would.

    I never asked to work from home, and I am failing hard at it. I have never been this unhappy. I got in trouble from administration for going into the office to work on Friday. I know that I'm being selfish in the midst of a crisis and in the midst of tax season but I'm honestly thinking about telling them I want leave without pay until I can come in (I have the cash, luckily). They won't let me (they can't) but I can't quit for bonus reasons. I know I'm a POS for not doing the social distancing thing, and this is the most important month for my job title but I also did not ask for any of this.

    How are y'all holding up at home? Advice for me? Thanks.

    submitted by /u/GetMeOutCPA
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    FFCRA - Credits

    Posted: 22 Mar 2020 07:47 PM PDT

    Question on the paid sick leave credit rolled out under the FFCRA. Has anyone seen any guidance on whether the credit is limited to the total amount of income and payroll taxes paid?

    I know that if Timmy takes 2 weeks off because he's sick with COVID-19, and it costs me $2,000, and the total amount of income and payroll taxes paid were $1,800, I can request a credit for the remaining $200 which will be paid to me by the IRS within 2 weeks. However, what if 10 of my employees are taking paid sick leave, and the total cost of their paid sick leave is greater than the total amount of taxes I've paid for those 10 employees? For example, say their paid sick leave wages for their 2 weeks off costs me $20,000, and in total I've only paid $13,000 to the IRS for income and payroll taxes for these employees, do I get reimbursed for the remaining $7,000? I think the answer is yes but I can't find anything that explicitly states that.

    Have any of you seen anything that explicitly describes what happens in the scenario above?

    submitted by /u/gravitymachine
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    How are you magaging working from home

    Posted: 22 Mar 2020 07:37 PM PDT

    Spelling mistake : How are you *managing* working from home

    I keep my office equipment in my den, which is separate from the living room. I know that when I'm in the den, it's work time. Otherwise, I'm off.During breaks and lunch, I'll step outside and smoke a joint. A light joint to keep me happy and buzzing to compensate for the lack of human connection.I might try drinking wine next week.

    submitted by /u/EnergyVerified12
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    Dissertation help! 2 minute Questionnaire about Ethics education in accounting courses. Student or Graduate responses needed. Any are appreciated! Link yours below and I'll return the favour.

    Posted: 22 Mar 2020 03:29 PM PDT

    OMG i love this it even has "Journals" that track all the entries.

    Posted: 22 Mar 2020 06:47 PM PDT

    JD/CPA career path

    Posted: 22 Mar 2020 06:25 PM PDT

    Hello, any JD/CPA here would care about sharing your past and/or current work experience since getting dual-licensed, and the percentage breakdown of your practice (i.e. how much of your time is spent on tax compliance vs consulting vs provision vs vs tax controversies, etc.). Anything you'd like to add to your practice (bankruptcy? estate planning? Etc.)

    Someone I know is currently an director at Big 4 doing exclusively M&A consulting. Another one I know is a partner at a small CPA firm, I am guessing 80% he does is tax compliance, 15% consulting/planning, and 5% helping clients with tax audits. Another one has his own practice doing exclusively tax controversies, and some small number of bankruptcy cases.

    Thanks for everyone's input

    submitted by /u/Both-Amphibian
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