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    Saturday, April 4, 2020

    Home Unlabelled Accounting Was watching tv with my daughter and I think I just found my dream accounting job.

    Accounting Was watching tv with my daughter and I think I just found my dream accounting job.

    April 04, 2020

    Accounting Was watching tv with my daughter and I think I just found my dream accounting job.

    Was watching tv with my daughter and I think I just found my dream accounting job.

    Posted: 04 Apr 2020 12:58 PM PDT

    So, what fun quarantine activities have you all got planned in between working from home?

    Posted: 04 Apr 2020 07:52 AM PDT

    Accountants during quarantine

    Posted: 04 Apr 2020 05:09 PM PDT

    Starting a workpaper from scratch. Expectation vs reality.

    Posted: 04 Apr 2020 07:47 AM PDT

    I've been filming accounting lectures for my students this past month. My daughter wanted to help. Here's my five-year-old teaching the cash flow statement.

    Posted: 04 Apr 2020 09:14 AM PDT

    The reason why we can't find fraud in all of our clients' books

    Posted: 04 Apr 2020 06:21 PM PDT

    That is because they're good at it - Every Intern ever

    submitted by /u/Moamr96
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    She’s easy, but she ain’t smart

    Posted: 04 Apr 2020 06:06 AM PDT

    How am I supposed to become a partner now? Any tips?

    Posted: 03 Apr 2020 11:25 PM PDT

    Does Coronavirus have you working from home? Please help me fill out the survey for a college project I'm working on. It should only take 1-2 mins. of your time. Thanks so much!

    Posted: 04 Apr 2020 06:01 PM PDT

    Trying to decide between Big 4 offers? Sweet Lord, please read this

    Posted: 03 Apr 2020 10:36 PM PDT

    Ok, future accounting dipshits leaders of tomorrow. So you got multiple Big 4 offers for the service line you wanted! Or maybe you overachieved and got all 4! Ding ding ding! You did it! Umm yes, you'll take the big stuffed bear as your prize, thank you so much.

    So many of you have asked this exact question 70,000 times. So it's fair to do a quick dumpster dive into what we mean so that everyone is clear.

    When deciding between Big 4 firm offers, it's important to note the following:

    1) On a national or international level, all Big 4 firms are virtually the same. Yes, some will have their own little strengths (EY with their FSO, Deloitte with their consulting, KPMG with starting dumpster fires excellent management of GE) but for the most part they all offer the same benefits with the same PTO and the same corporate structure. Whatever one does, the other 3 generally do. So, consider if maybe one of the offers plays to its core strength more than the others. Otherwise move to #2

    2) The true difference is on the office level. Each office is run by the partners headed by the managing partner. The culture/work environment/all the cute things you all ask about at recruitment events are decided at this level in reality. Some offices are smaller, laid back, and great friendly environments. Others are brutal, Hunger Games-style rumor mills that reek of toxicity. In the truest sense, YMMV.

    Think of it as a fast food franchise or, an even more college-appropriate example, a fraternity/sorority. There may be a national brand or reputation for that fraternity, the actual success or reputation might vary from college to college. Sigma Nu might be awesome at Indiana U, but suck at Iowa St. Got it?

    Best way to decide between your offers is to a) office visit b) LinkedIn reach out to familiar faces (or if you're bold and think you can pull it off) randos who worked at the office in particular and have since left who can speak on the office culture. c) ask about it at recruitment events and hope for realistic answers d) ignore everything said above and roll the dice.

    Congrats on your offers, can't wait to grind you into a powder and snort you for energy use your insight and valued input in our engagements, and thank you for coming to my TED talk...

    submitted by /u/the_tax_man_cometh
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    P/NP Grades regarding Big 4 Internships

    Posted: 04 Apr 2020 07:51 PM PDT

    Hi all!

    I'm currently a college student, and I've secured a Big 4 Internship this summer, and I was wondering how a Big 4 Firm will look at P/NP grades rather than letter grades. Because of COVID-19 and the movement to online classes, I'm fairly confident that if my GPA will significantly decrease if I were to take my accounting courses for a letter grade this semester. Will a Big 4 firm look negatively on this and will this affect my chances for a full-time offer? Just wanted to gauge everyone's opinions. Thank you and please stay safe everyone!

    submitted by /u/swat1469
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    Retained Earnings - bless me with your knowledge

    Posted: 04 Apr 2020 07:41 PM PDT

    This is a second year return.

    LY, there was no retained earnings account.

    Now my tax return is out of balance by last years net income.

    How do I fix this? Am I overthinking this?

    submitted by /u/treese25
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    The hardest part of university accounting..

    Posted: 04 Apr 2020 10:03 PM PDT

    Trying to memorize all of the random little rules for different things, does it ever get easier? Its so hard to remember all the rules for IFRS and ASPE having never actually applied them yet.

    submitted by /u/zoeliner
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    Fighting burnout- what do you do?

    Posted: 04 Apr 2020 10:02 PM PDT

    Have you ever faced burnout?

    What did you do? I'm feeling so burnout, as I'm sure many of us are, and I'm desperately looking for solutions.

    submitted by /u/treese25
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    So, how do you account for free money?

    Posted: 04 Apr 2020 04:17 PM PDT

    Good ol' government is giving out cheddar in the form of loans which all you have to do is essentially not fire someone for a couple months and it is yours to keep. Well, when the government officially says don't worry about paying me back, get something nice for yourself, what's the proper way to account for it? Just Dr the liability and Cr Revenue (or Other income)? I know this loan revenue won't be taxed either so I'm sure in the 2020 tax return there will be a line to deduct how much of your revenue is made up of loan forgiveness.

    submitted by /u/Darker_Zelda
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    Is there life outside of public accounting for tax?

    Posted: 04 Apr 2020 10:29 PM PDT

    I have often seen my audit peers move on to the private sector much easier and more often than tax.

    Like, I cannot think of one tax accountant that I know that's gone private.

    Maybe I just don't know many, but is this common?

    Is there a way to make yourself more marketable for private?

    I don't have my CPA yet, but what are other designations valued in private?

    I'm thinking data analytics, but I know that's generally more geared towards audit.

    submitted by /u/treese25
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    Is it wrong to approach upper-level Big 4 roles as entrepreneurial opportunities?

    Posted: 04 Apr 2020 06:28 PM PDT

    I'm currently a college junior thinking of getting my CPA and going along the Big 4 audit career path.

    I was curious to know what those of you in upper management thought of thinking as such roles as entrepreneurial.

    To whit, audit is not something companies and CFO's want to pay for and spend their time doing. Obviously, the CFO would much rather be spending his time making financial decisions that impact the company (and his bonus) for hopefully the better than having a Big 4 associate grill him or his underlings on what exactly the depreciation method they used for their recently-acquired factory was. The only reason they do is because of Sarbanes-Oxley and other government regulations relating to public corporations.

    Hence, there seems to be an opportunity to continuously make the audit experience easy and simple for the clients of the Big 4. Is it a fair assumption to say that upper-level managers, and specifically partners, are spending any of the time that they aren't selling their business on making their auditing practices more efficient and digestible for clients?

    Apologies if I've misunderstood the industry as a whole. Any advice on finding a career that relates to developing long-term strategy for a corporation would be appreciated. The reason why audit specifically piqued my interest is because not only is the best way to understand a business through its financial statements which requires a strong background in accounting, but also if what I stated above is close to the truth, the best way to learn the audit industry is to be an auditor and work my way up to strategy-deciding positions.

    submitted by /u/accountingcareere
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    Given so many here were burnouts living in "Wave 4" before the crisis, the return to "normal" will be less of a shock

    Posted: 04 Apr 2020 10:08 PM PDT

    Eating time- thoughts?

    Posted: 04 Apr 2020 09:59 PM PDT

    I'm just interested in a discussion about eating your time.

    Do you do it? If so, why?

    submitted by /u/treese25
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    What do you like about your job

    Posted: 04 Apr 2020 09:59 PM PDT

    After being in the game for 8 years, there's nothing about the job that specifically interests me. It's all the same. What I do like are working with my coworkers and working for a cause or company that I'm passionate about. On an unrelated note, if I could go back, I'd do trades or just dive into the arts and become a failed actor or something.

    submitted by /u/AccountOtherAccount
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    Has the pandemic made anyone else want to do a career change out of accounting?

    Posted: 03 Apr 2020 11:46 PM PDT

    Long story short, I got laid off, due to the pandemic. It's not that they didn't need accountants, it was that I was working in an industry that will be very heavily impacted by this.

    I've been quarantined for a few weeks now - playing video games, watching movies, doing some light reading. When I realized I'm actually in a position to make a career change.

    I never really wanted to accounting, I actually just sort of ended up there. And I'm damn good at it. I have the knowledge and experience that people spend years acquiring. But I find the work very unfulfilling ... after all, I stared at a computer screen and crunched numbers for 50-60 hours a week. I never interacted with people. I never affected any lives. I never made a difference.

    Seeing everything going on with the pandemic, has made me want to make a career change into something that's much more fulfilling and makes a difference. For example I'm seeing the nurses and doctors on the front lines and I have a strong desire to be there helping them.

    I still don't know what I want to do or what re-positioning I will make ... It's very intimidating, especially knowing I likely won't have any skills and will need to start from scratch.

    Is anyone else in the same boat, or am I all alone?

    submitted by /u/WhoopWhoopShabadoo
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