Accounting 05/04 Weekly Thread: Covid-19 and CARES Act |
- 05/04 Weekly Thread: Covid-19 and CARES Act
- I also flag messages knowing full well I will never review them
- Spotted an EY office in Westworld tonight; they’ll pay to be in an HBO show yet I’m still working weekends in May
- I have never felt more personally attacked
- Personal question: What is your salary?
- No idea how you tax guys do it
- Anyone have a huge amount of anxiety around client service hours
- Passing grad school all depends on this last presentation......
- Is having a part-time accounting job in industry worth it even if you plan on going into public?
- How much do you work in industry?
- M&A Deal Analytics
- Start date postponed until 2021 - should I try to find another job in the meantime?
- Let's go even further!
- I got tax internship offers from EY and Deloitte in Houston? I’m stuck on which one to choose, does anybody have any insight or know what full time starting salaries are for either firm?
- Things to do in the summer to boost my resume?
- Forensic Accounting
- Anybody else struggle to read the textbook?
- Looking to move to DC. I want 100k all in is it possible with: CPA, MBA and 5 years of industry experience?
- Got old business cards? Tape them together to make coasters. Taping one side and it becomes foldable
- Is it ok to use one Big 4's notebook at another Big 4?
- [CAN] Seeking career guidance
- How do I list my start up job on my resume?
- PLEASE HELP - running a business as a minor
- Starting accounting as a first job at 28
- Help please
- Documentation required to take CPA exam in MN??
| 05/04 Weekly Thread: Covid-19 and CARES Act Posted: 03 May 2020 09:04 PM PDT With virtual finals coming up, the mod team would like to remind students of the subreddit rules, specifically number 3. That being said, any solicitations for assistance on exams will be REMOVED and posters will be be PERMABANNED, no exceptions. This is a weekly mega-thread for items related to Covid-19 and the CARES Act. Covid-19 continues to have significant impact on the profession, as such posts related to Covid-19 and the CARES Act should be posted in the comments here. Other Covid-19 related threads will be removed and posters will be directed to this mega-thread that will update every Monday. US PUBLIC ACCOUNTING UPDATES(While we recognize there are users from other countries that frequent r/accounting, the information for US firms tends to be the most prevalent and is applicable to the broadest audience) *Note that NA means no information available
(While we recognize there are users from other countries that frequent r/accounting, the information for US firms seems to be most prevalent and is applicable to the broadest audience) *Note that NA means no information available Got something to add about your firm? Leave it in the comments and we'll update the following week. Since this thread is likely to fill up quickly, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| I also flag messages knowing full well I will never review them Posted: 03 May 2020 09:53 AM PDT
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| Posted: 03 May 2020 06:59 PM PDT
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| I have never felt more personally attacked Posted: 03 May 2020 05:18 PM PDT
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| Personal question: What is your salary? Posted: 03 May 2020 07:21 AM PDT How long have you been in the field and what is your current salary? I've been looking at various companies on Glassdoor trying to get a ballpark figure but I always wonder how accurate and up to date those are. Any other info you're willing to share I'd love to hear as well (benefits, PTO, etc). Is this even allowed to be asked? Or just plain tacky? I'm sorry but I'm going back to school next week and am wondering if I should have a concentration in some thing particular. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| No idea how you tax guys do it Posted: 03 May 2020 02:46 PM PDT With every other accounting class I've taken, the material has come to me relatively easily. Most accounting rules make sense and I can understand the reasoning which is why I can remember and apply them. Not with tax accounting... the rules can usually only be substantiated by the IRS saying "fuck you that's why." I have the utmost respect for you tax pros out there but when I start my industry job after graduating in August I hope I never have to touch income tax again with a ten foot pole [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Anyone have a huge amount of anxiety around client service hours Posted: 03 May 2020 06:23 PM PDT It's no longer busy season but the required hours are still 30-35 billable. Didn't feel this way in the fall but for whatever reason spring has been a nightmare for my anxiety. I've been extraordinarily budget conscious and so I've been eating a lot of hours but I still feel like i'm billing to much while simultaneously billing too little. Our resource manager has taken to having skype meetings where she goes down the list of staff and calls people out who aren't working enough. I don't get called out, I am among the top fourth in billable hours, but I am still anxious as all hell. Feel like I am taking on too much work but also get a ton of anxiety about saying no. I'm sure this is a healthy dose of me having imposter syndrome but I am scared shitless that I'll get fired if I don't keep up my billables or if I go over budget. Anyone else deal with this? Any tips beyond getting on prosac? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Passing grad school all depends on this last presentation...... Posted: 03 May 2020 08:16 AM PDT
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| Is having a part-time accounting job in industry worth it even if you plan on going into public? Posted: 03 May 2020 03:42 PM PDT I am currently a second year accounting student and was offered a part-time accounting job at a fairly big tech startup. I would be helping out with month ends mostly. Will public accounting recruiters see this as a valuable experience? Or does it not matter since it's not public accounting experience? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How much do you work in industry? Posted: 03 May 2020 02:35 PM PDT Out of curiosity, how much do those of you in industry work on average? In that time what percentage of your time is productive working time? How stressful would you say your job is? Did you come from public? I keep reading posts about people working the same or more than public. As someone who wants to leave public it's somewhat concerning. I'm a senior and work 2400-2500 hours per year and am required to be charging 85% of my time for reference. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 03 May 2020 07:33 PM PDT Does anyone have any insight into the M&A deal analytics groups at the B4? What is the background of most of the people in these groups? Combing through LinkedIn, it seems like a mix between Data Science and ex-FDD people. I've read all the firms descriptions of what the groups do, but would love to hear some more insight into project flow and selling point of the work. Links to the group: https://www.pwc.com/us/en/services/deals/deal-analytics.html [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Start date postponed until 2021 - should I try to find another job in the meantime? Posted: 03 May 2020 09:32 PM PDT I have an offer with a big 4 firm and just found out that my start date has been moved to January 2021. Do you think it's worth looking for another job in the meantime? Not sure whether to do that or to focus on passing the CPA exams and honing my Microsoft excel skills [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 03 May 2020 05:18 PM PDT
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| Things to do in the summer to boost my resume? Posted: 03 May 2020 08:41 PM PDT I'm a junior finishing up my bachelors degree. My internship this summer got canceled, therefore have no plans. Any suggestions for things I can do this summer to boost my resume and get experience? - if you know of any case competitions held in the summer - virtual volunteering opportunities to audit or file tax [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 03 May 2020 06:15 PM PDT I'm looking for the good, the bad, and the ugly when it comes to forensic accounting. I'm starting my classes for accounting and am strongly considering a focus in forensic accounting. I'm looking for people that are in the field to share their stories to make sure this is direction I want to take. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Anybody else struggle to read the textbook? Posted: 03 May 2020 06:03 PM PDT I go slow, take notes, try to put stuff in my own words, reread stuff when I need to, start early and still feel 1) overwhelmed and 2) still don't get some concepts after reading it many times... I'm in INT II... Meh... [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 03 May 2020 07:50 PM PDT I'm currently a senior accountant in the financial services industry. Was trying to move to NYC but it's been though, even before the pandemic. Decided DC would be better due to family. I'd prefer to stay in the same industry. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Got old business cards? Tape them together to make coasters. Taping one side and it becomes foldable Posted: 03 May 2020 07:34 PM PDT
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| Is it ok to use one Big 4's notebook at another Big 4? Posted: 03 May 2020 07:29 PM PDT This is kinda a r/NoStupidQuestions type post, but I have a competitor Big 4 notebook that I really like but will be at another Big 4. Would be it bad to use it at work? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 03 May 2020 10:54 AM PDT I feel like I'm at a crossroads with my career and I'm having difficulty deciding what the best career path for me would be. So I'm turning to Reddit for advice.. Should I stay in my comfortable government job (with limited earning power) or branch outside, upgrade my skillset, and increase my earning power? I'm not sure how many people typically transition from government back to public practice/industry (usually it's the other way around), but here I am. A bit of my background: Currently 31yo, unmarried (girlfriend) with no kids. I work for the government as a GST auditor. I've been in audit for approx. 4 years so I've built up a decent amount of experience in this field. The pay is alright, I'm grossing $70k/year CAD, but I've only managed to increase my salary by $14k since I started here in 2016. The work life is very comfortable, and I enjoy the work, however, the two main issues I have is that the scope of my work is very limited (finding it difficult to diversify my skillset) and my earning power is very limited (it's government and we have pre-determined pay tiers). Therefore, under my current position, I will never reach a six-figure income. I would have to keep being promoted from within to reach six figures and that could take quite some time. And even then, I would be a smidge above $100k. I'm working on my CPA designation. I've gained the required 30 months of practical experience at my current job and all I have left is to pass Day 1 of the CFE. I should have it by the end of the year… hopefully (pandemic has pushed this back for me). I recognize that earning my CPA designation should open up some doors for me and give me the ability to take my career to new heights. Unfortunately, a CPA designation brings little value to my current company so I won't receive a raise for earning a CPA designation, nor will it help with future promotions. So I'm wondering… Should I quit my current job and go back to public practice? Ultimately what I want to do is upgrade my skill set by learning how to do full cycle accounting, including preparing financial statements, T1's/T2's, NTR's, audits, etc. (everything that well-rounded accountants do) and eventually settle into an area of specialization (such as a tax specialist) and hone my skills to the point where I can eventually start my own business. Naturally, income tax is the area I would like to specialize in, but I feel like it would be difficult to land a role in a big firm since all I've done for the past 4 years is GST and I don't have much other expertise to offer. I had a brief 6-month stint in public practice before joining the government. I really enjoyed the work, learned quite a bit, and developed a strong work ethic in the short time I was there (managed to get a tax season under my belt). However, it was a term position and after the term ended, I was offered a full-time position as a staff accountant, however the salary was a measly $38k. I simultaneously received an offer from the government with a starting salary of $56k so naturally, I followed the money. To this day, chasing the money instead of working to learn is my biggest career regret (and one of the motivating factors for me to go back and learn), however I was at a different point in my life at the time. So I'm wondering, is there a job market out there for someone like me? Would someone be willing to train and mentor me? And if so, would I have to take a pay-cut to do this? Currently, the biggest fear I have is taking a massive pay cut to do this and one of the main reasons I've stayed at my current job is because of the decent pay (can't afford to take a drastic pay cut). However, I'm also worried that if I stay in government for too long, I might become "blacklisted" and have a difficult time moving back to public practice or industry. Working a 9-5 job isn't what I want to do for the rest of my life, I want to upgrade my skills to the point where I can start my own business and have freedom. I know an easy solution is to do both - stay at my current job and find a part-time job in public practice. However, my employer doesn't allow me to perform financial services outside of the office (conflict of interest) so I'd have to quit my job. Although I suppose I could seek out a mentor and do some volunteer work possibly… Sorry for the wall of text but these questions have been eating away at me for quite some time and I'm getting to the point where I feel like I should make a move. Any advice would be greatly appreciated. tl;dr – Should I stay at my comfortable government accounting job, that pays decent, OR return to public practice where I can upgrade my skills and increase my earning power? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How do I list my start up job on my resume? Posted: 03 May 2020 06:55 PM PDT tl;dr - How do i put below experience on my resume? I have been working at a startup for the last fifteen months and it's been a wild ride, that I am ready for a new job. Im a staff accountant and kind of got the short end of the stick. The pay is great but I got shoved into a purchasing role that I am not interested in doing for the next year or so. I was hired for a subsidiary of a pharma startup that really needed accountants. I did a little bit of everything for the first 3 months, including A/P, procurement, systems implementation, deferred rent J/Es, and schedule maintenance, account reconciliations, expense accruals, etc. Then our parent company decided they wanted to go public, so they brought ALL their accounting inhouse while filing public. Our subsidiary had the only accounting team with actual accountants on the payroll, so they absorbed the team I had, and I went from working for one subsidiary to working for the parent company. We had to import historical data that was managed by QB bookkeepers for all of our subsidiaries while switching systems from QB/intacct (different companies different softwares) and implementing Netsuite. Our company then filed public (raised a few hundred million). All of the above happened in 4 months. After all that happened, my job moved to mostly procurement. The controller who hired me said it was a good opportunity to review contracts and a good stepping stone to getting into R&D g/l accounting . I mostly focused on procurement, along with doing consulting and unvouchered accruals, while still working on recons for a/p accounts. Staff was needed, but the staff hired was technical etc. 3 months later we hired a CAO. (So this is about 8 months since I first started). We haven't implemented any sort of purchasing system, no employee system Netsuite, people just fill out a google form for the rec and I go from there. She wants to get a contract system by Q1 of 2020. Cool that would help. Our company keeps growing while I am still doing the same thing. Acquiring more companies, etc. Now the CAO wants to switch our accounting software again, which won't be ready until mid-2021. As of today, still storing at least a thousand contracts in server folders. I've been working 10 hour days, at least one day of the weekend (if not 2) for the past 4 months and the work is still piling on. I've decided that while I gave it my best, I do not want to be in this situation anymore. While I think I am valued, I feel mostly ignored by everyone except my supervisor (who works even more than me, as a consultant). We have some major milestones coming up, so that means more spending money and guess who has to deal with all that fun. We've acquired 3 companies in the past 2 months. This is crazy. So my question is, how do I put this on a resume? I don't want to be seen as just a procurement person when applying to companies. I want to stay in the same industry. I generally enjoyed it, but maybe work for a company that's been a little more established (not much more, just like one that uses workflows in their software). tl;dr - How do i put above experience on my resume? should i link to this post on my resume to save space? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PLEASE HELP - running a business as a minor Posted: 03 May 2020 06:55 PM PDT Hello all, I have a growing eCommerce business. It's my passion and the reason why I wake up in the morning. I'm going to be turning 18 by the end of the fiscal year anyway, but as of now, I cannot wait until I'm 18 to form my business entity/continue by business because I'm making a decent amount of money that is on track to make more than the average 9-5 job. I'm in a state where there are no age requirements for forming an LLC, which I am in the process of forming. My parents aren't supportive of my entrepreneurship, so I need to start using my own private business account. I have a few things that I just want confirmation on:
Any information or advice would be helpful / citing your experience / please upvote :))) [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Starting accounting as a first job at 28 Posted: 03 May 2020 10:25 AM PDT Hello. I'm sure there's many posts like this but I'm basically 26 right now with no work experience other than working as a part-time tutor (on the books) for a big-name tutoring company (i.e. Kaplan, Sylvan, C2, etc.) I've done this for four years while I was deciding on what to do. I'll admit I used to be sort of a nervous wreck and I was one of those people who got into medical school and then turned it down out of pure despair at the thought of working with people in a clinical sense. But I digress, I'm thinking about applying to a 2 years masters in accounting. Which sucks since I'll waste even more time not having a full-time career. And this isn't just a backup, I always preferred business fields to the morbid clinical sector. Would I be employable applying for a first "real" job at 28, especially in accounting? I'd assume they vastly prefer the younger ones in terms of recruiting/interns. Thanks for any advice. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 03 May 2020 09:50 PM PDT Is anyone in Century 21 accounting and want to help me. Currently on chapter 14 and have to complete 14, 15, and 16 tonight. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Documentation required to take CPA exam in MN?? Posted: 03 May 2020 09:41 PM PDT I am questioning whether I have sent in all the required documentation. I had my official transcripts submitted, along with my certificate of enrollment. I also completed the online application for my jurisdiction and paid application fee and the fee for one exam. I read online (not on the nasba or aicpa sites) that you are suppose to send in a passport size photo of yourself. Is this correct, should I have sent in a photo? [link] [comments]  |
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