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    Accounting After you've handed in your notice and a manager asks for anything

    April 29, 2020

    Accounting After you've handed in your notice and a manager asks for anything

    After you've handed in your notice and a manager asks for anything

    Posted: 29 Apr 2020 06:30 AM PDT

    When you roll onto a new client for the first time and realize you have to start the learning process all over again

    Posted: 29 Apr 2020 01:00 PM PDT

    When you start Bonus Accrual testing on your client and realize how underpaid you are

    Posted: 29 Apr 2020 09:49 AM PDT

    ‎

    Posted: 29 Apr 2020 07:36 PM PDT

    Public accounting speak be like:

    Posted: 29 Apr 2020 08:39 AM PDT

    Me at every deadline

    Posted: 29 Apr 2020 05:51 PM PDT

    Big 4 Sex Cult

    Posted: 29 Apr 2020 01:23 PM PDT

    I was wondering if anyone would be able to confirm this.... I heard big 4 partners out of the Houston office have a cult where they meet and bang each others' wives after a drunken night at the country club. Has anyone heard of such thing? How often do they meet?

    submitted by /u/debits_equal_credits
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    Interns after their first week on the job.

    Posted: 29 Apr 2020 04:32 PM PDT

    Interns getting their daily dose of Kool-aid

    Posted: 29 Apr 2020 12:00 PM PDT

    when animal crossing makes you miss going into the office

    Posted: 29 Apr 2020 11:26 AM PDT

    Glorious days of the first year staff when your manager cleans all the crap after you and you’re just chilling.

    Posted: 29 Apr 2020 12:54 AM PDT

    [confession] Anyone else feeling guilty of being ungrateful they still have a job?

    Posted: 29 Apr 2020 08:25 AM PDT

    B4 here and been in public for 6 busy seasons. This spring/summer I had decided to FINALLY get out. Watched all my friends/coworkers make the plunge the last 3 years when the job market was on fire in my specialized industry and tell me how much better it was on the other side. I contacted a recruiter and setup interviews, even got to multiple rounds with some prospects, and expected to be out and free before May and now with everything that's going on, all those processes are halted. I'm in the global epicenter (you can guess which city) and it's pretty bad right now and I understand there are so many folks with no source of income and I'm praying for em.

    Just can't help but feel terrible about the fact I'm not grateful for still being employed. I hate this job and working until midnight every night trying to meet deadlines that were set before a global pandemic. I know I should thank the stars I still am employed but I wish it wasn't HERE. That said, I do not want to be laid off either because from what I'm hearing good luck getting your unemployment checks in this city. So I'm in this wierd confusing headspace where the world is falling apart around me while I'm putting me head down to work nonstop at a job I hate.

    Anyone else in a similar place?

    submitted by /u/tehhass
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    What’s an accountants favorite clothing brand?

    Posted: 29 Apr 2020 11:35 AM PDT

    Life After Public Accounting?

    Posted: 29 Apr 2020 02:48 PM PDT

    I am wanting to get out of public accounting due to the hours and stress. I have completed my second busy season and don't know if I can take it anymore! I wanted to see where everyone went after public accounting? How long were you in public? What made you want to leave? What percentage of salary increase? Would you ever go back? Any advice or tips would be helpful from people who have made the leap!!

    submitted by /u/tarheel013
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    Someone Started a Petition to (Temporary OR Permanently) Remove the 18 Month Testing Window

    Posted: 29 Apr 2020 12:52 PM PDT

    SALT tax be like

    Posted: 29 Apr 2020 12:59 PM PDT

    Just got locked out of my account...

    Posted: 29 Apr 2020 05:57 PM PDT

    but it was because the servers were down.

    Can somebody tell me what expense code I can charge my medical bill for my heart attack to

    submitted by /u/CPAmanFFF
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    Cash Vs. Accrual for a truly small business with inventory

    Posted: 29 Apr 2020 09:31 PM PDT

    Alright so I've been scouring the internet for probably 30 hours researching this stuff and got some basics down but I am still a bit confused on cash vs. accrual for my small business.

    I operate an online retail business, I am in a collectible niche and I often have to authenticate my inventory with a 3rd party company for a fee but not all the time. I am doing about $80,000 in sales on about a 70%ish net margin before taxes. I have the option to file cash or accrual and I understand that once I choose it's not easy to switch back. Obviously, cash is easier and more intuitive to me since I sell directly to my customers with instant payment & I don't have debts nor does anyone owe me money. But the thing is I do have to carry an inventory since I authenticate in bulk, $20kish at cost atm. I also happen to live in one of 10 states that taxes Business Inventory (VA).

    Can I use the cash method of accounting for everything else so I can deduct my business expenses that way (shipping, fees etc.) but use accrual for my inventory only? I'd still pay tax on the business inventory but it's not so bad ($0.30 per $100). Or is it somehow possible to deduct the cost of inventory in the same year I purchase them with the new tax laws which is more in line with the cash method? Does anyone happen to know if authentication fees would be considered COGS or a business expense? I understand most of you probably work with higher earners than this but if anyone has any relevant knowledge, I'd be grateful.

    I have quite a few questions and intend to hire a CPA to answer those at some point but want to get these basics down first, if possible. Thank you if anyone answers.

    submitted by /u/Excellent-Result
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    Where's the balance between figuring it out on my own and just asking the seniors?

    Posted: 29 Apr 2020 08:52 AM PDT

    Fresh Staff 1, just got off the call with my manager about my feedback, and I've been told I don't ask enough questions.

    But I don't ask questions because 1. I know the seniors are busy and I'm trying to be considerate of their workload and 2. I feel like my questions are dumb and I should be capable of figuring it out on my own.

    Problem is that I don't know what I don't know. I guess with experience you come to a point where you can at least recognize if something is answerable within your own capacity, i.e., through support you know is available, but right now I'm still at a point where if I don't know something, I feel like the only reason why I don't know is because I'm not trying hard enough.

    Should I just be more selfish? Should I just give up sooner and ask sooner to save time overall, or should I continue trying to become more independent?

    Like I hate myself when I can't figure something out after hours of trying, and then I give up and ask only to find out it was something we just had to ask the client the whole time. But I also equally hate asking a question, only for the senior to find the answer one tab over. Either way I feel incompetent...

    submitted by /u/leagueofcoffee
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    CPAs, how much is a typical entry level salary? What kind salary of growth is normal?

    Posted: 29 Apr 2020 02:37 PM PDT

    Starting a new job for non-profit as Staff Accountant( emphasis in working with GLs). How can I prepare myself?

    Posted: 29 Apr 2020 08:29 PM PDT

    So I haven't had much prior accounting experience, except for about 15 months of Accounts Payable prior. I did take some accounting classes in a community college ( after graduating as an Econ Major in a 4 year university). Honestly, I'm a bit nervous with the 90 day introductory period ( I know it's typical, but it's still making me anxious.) It seems like a great job and I really don't want to lose out on this role. Even the controller and assistant are aware that I didn't have much accounting experience ( honestly I was surprised they chose me) but they did like the university I went to and that I am trying to focus on an accounting oriented career path by taking these classes.

    submitted by /u/jamesdantely
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    I’m just not good at this

    Posted: 29 Apr 2020 12:35 PM PDT

    I'm a staff 1 at a big four and I'm just not good at this job. I loved accounting in college but I hate it at work. I don't like the job and I'm not good at it and I think people notice. I want to get out and move to an entirely different industry but it feels impossible rn given covid any advice?

    submitted by /u/jimbojumbo722843
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    Is it okay to ask the hiring manager why the company has so many employee leaves shortly after starting?

    Posted: 29 Apr 2020 04:18 PM PDT

    So, I got an offer in another state (VA). It is a small public accounting firm. I am nervous about a few things about this company specifically that employees leaves anywhere from 5 months to two years after starting. But I know people have been there for two years plus. I heard this company only hires you for extra help with the government contracts and terminate you once the federal contract is over unless they like you. Is it fine to ask the HR why so many people leave in such a short time frame? Advice is obliged because I do not know if I should take on this position or not.

    submitted by /u/accountant320
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    Does anyone regret going into accounting?

    Posted: 29 Apr 2020 02:41 PM PDT

    Im an older student(26) and will be 30 when i graduate if i chose accounting. 31 after the extra 30 hours for cpa.The reason im potentially picking accounting is because it doesnt seem to have ageism, and it seems like a steady field. I dont have a passion for it.

    My other option is computer science. Im afraid of ageism in this field, outsourcing my job, and being too old(early thirties) to get hired. But it seems interesting. Im trying to do a khan academy course. All the math and science requirements for a CS degree will put me at around 31-32

    I want to work to live but i also dont want to hate my job. Ive left about 20 retail jobs due to being unhappy with retail and ive decided to get a degree to get out of this hell.

    I mostly want a steady desk job working no more than 40 hours with limited interactions with the public.

    Wwyd?

    submitted by /u/confusedsillykitty
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