Accounting 06/01 Weekly Thread: Covid-19 and CARES Act |
- 06/01 Weekly Thread: Covid-19 and CARES Act
- Michael Scott is all of us
- Rant - Yay Office Politics
- What I think about when I see Linkedin posts from Grifters and MLMs
- Pay Cut: Less Motivation
- Considering a Break from Work for Self-Care
- How to change jobs in a pandemic?
- When you check the variance report for the period's budget after corona
- Is this guy for real or it’s just me?
- One year Anniversary at my first job out of college working as a lowly staff accountant in a F500 company, AMA
- How long to stay with B4?
- KPMG new-hire start date
- Auditors, what's the biggest battle you have had with a client?
- Chances of Regional Mid-Sized Firms honoring Full-Time offers?
- Accountants on the other side of the audit
- Any of you switched or are switching from accounting to web development or some type of coding? I'd like to hear your story.
- Big4 M1 (Risk - IA) Career Path
- Where do I go from here?
- Career progression in govt accounting?
- What skills and knowledge do I need to jump from public to private accounting?
- Should be graduating in October 2020... should I do another semester or two?
- Finished CPA exams but possible wait until January 8th 2021 to start with big4: Need Advice
- Extreme interview anxiety due to alopecia
- Questions for any IRS Special Agent or FBI, etc.
| 06/01 Weekly Thread: Covid-19 and CARES Act Posted: 31 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]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 31 May 2020 11:38 AM PDT
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| Posted: 31 May 2020 03:33 PM PDT Had a request to prep something for a client early in the week, sent it back to the partner within the day. Told the partner it was ready, but it seems to have slipped his mind (Fine, he's a busy guy). Today, he calls a manager asking about it, the manager literally saves over my work, and then tells the partner he did it just now. Throws me to the wolves, makes me look like a moron to the partner, who I work a lot with. Luckily there is still evidence to show I did it earlier in the week (they missed a few things), but holy Christ did that piss me off. How do you guys deal with shit like this and do you have to put up with this type of stuff too? [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What I think about when I see Linkedin posts from Grifters and MLMs Posted: 31 May 2020 06:04 AM PDT
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| Posted: 31 May 2020 07:18 PM PDT Asking for a friend. Imagine yourself in a scenario where your firm makes a business decision to decrease your pay, and let's say it's a 10% or 15% reduction. If you were in this situation would you lower your work performance, output, or attitude to reflect the lower compensation? Would it be considered unprofessional, immature, or both? Managers: would you expect people to put in 100% under these circumstances? If you noticed the change and were later asked for a reference, would you penalize? [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Considering a Break from Work for Self-Care Posted: 31 May 2020 04:54 PM PDT Throwaway acct from a long-time lurker - 10+ years experience in accounting, both public and industry, have my CPA. I have been struggling the last few months. It would be easy to blame it on Covid-19 and WFH on an extended basis (though that hasn't helped), but the truth is I've been struggling with some issues for years that extend beyond work. I went through a divorce a few years ago, and some of the ways I have coped with it have affected me more than I have realized - both professionally and personally. My current job is not the best fit for me. I haven't been excited about it for months, and I have struggled a lot recently - mistakes, forgetting things. My depression and anxiety have made it harder to focus and concentrate, and I was recently put on a PIP. Things have gotten to a point that I have strongly considered "taking a break" from working to get myself right - maybe 1-2 months of dedicated self-care (e.g. continued counseling and doctor consultations, other treatment options, reading, exercise, focusing on activities that make me happier, eventually working toward finding my next position, etc.). I been on r/accounting enough over the years to know that things like this have happened to many of us - feeling overwhelmed, anxious, depressed. Our work demands aren't always the best for maintaining good mental health. Ultimately, I have to take care of u/Tables_McLifty. My questions to the r/accounting community - Have any of you intentionally "taken a break" from work to focus on their mental health and take care of yourself? How did this work out for you? Are you in a better place? Anything you wish you would have done differently? Thanks for your feedback! [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How to change jobs in a pandemic? Posted: 31 May 2020 07:54 PM PDT Basically that? I'm working at a local firm rn looking to change jobs. Pays too low and in think I'm getting tired of all of it. Maybe take a month or more in between to pass CPA and stuff. Umm, is this a good time to be doing this ? Anyone else have experience changing jobs during a pandemic or should I stay put for now ? [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| When you check the variance report for the period's budget after corona Posted: 31 May 2020 01:20 PM PDT
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| Is this guy for real or it’s just me? Posted: 31 May 2020 07:34 PM PDT One of the teams I work with, has this fresh AM. The manager has just gone back to his original office, hence the AM got to be "acting manager", as he insisted. The work was alright, started right after the lockdown so we wfh. I got my work allocated, finished it before rolling off. The guy has a reputation of not having good work relationship with literally anyone in my dept, not joining any socials, except when it comes to partners calls/ meeting where he got to have the f***** phoney conversations to everyone thinking he is the big gun/ people's guy. Anyhow, I rolled off not intending to get any feedback from this guy, cause I know it's not gonna be nice. The bloke send me an email asking for a feedback call. Alrighty, I got on the call, got on the phoney conversation yada yada. Then he told me he wants to give me bad feedback, and push me to send him a feedback request so it can be recorded in the system? Lol thanks but no thanks. He told me he pmed my people manager, told him that I'm gonna have bad feedback? It seems my guy knows his reputation so has not told me off. I understand and appreciate all feedback, but getting out of your way to make sure your subordinate's life to be miserable? Bruh what kind of miserable pretentious life are you leading? My question is: is this guy for real? Please feel free to share your similar story and we can have some fun in this shit storm :) I just want to vent, might delete the post later on to avoid being doxed, thanks guys! [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 31 May 2020 12:19 PM PDT Did the typical 4 years at cheapest state school on scholarships, barely any debt, then got a job straight out of school last June and I'm coming up on my first year anniversary. I started working as a staff accountant on the GL team for a f500 pharma company. I had no idea what to expect going in to the job but at this point one year in i feel like one of those street performers spinning numerous glass plates, juggling flaming bowling pins, and wearing a clown suit. All while making a measly starting salary at 46k. My accounting team works directly with the GL - we are the input team. My work is extremely mouse and keyboard intensive and my wrist gets sore and my back hurts from sitting at a desk all day. My work is very intro/intern like. The "projects" i work on are menial, tedious tasks that the more important people don't have time for. My main role since i started is cash apps and it is extremely manual to the point where it feels stuck in the 90s. Another function of my role I have to use a virtual machine to get back to Windows 98 (? - don't quote me on that, but it does go back pretty far) to use a certain software. We also use Microsoft Access. Aside from most of my work being manual and bookkeeping related, and that the AP and Billing teams are just a bunch of overweight, middle-aged white women (not even exaggerating on this they are ALL like that), I do enjoy a variety of different things and the benefits are outstanding. I have month-end "accounting" tasks but I hate month end with a burning passion - I can't think of a worse way to take a toll on my mental and physical health. Sitting at a desk with a very manual job is the new smoking. I have some expense review things and accruals and intercompany stuff that is more "accountant" related but i feel so low on the totem pole that there is no room to jump up. I just don't know what to do at this point already a year in. I know I do not like manual bookkeeping work, namely my main role in cash apps. Most of my work is input and tedious - but some i upload to the divisional analysts and cross my fingers they don't ask questions. I don't particularly find my work interesting but its great exposure to what's out there and the so many different routes i could go. One year in and i'm starting to throw my resume out there. I guess I'm stuck with just advancing in the GL world since going back to working as an intro financial planner or credit analyst would be a totally different world. My world is the GL system, account recs, bank rec, accruals, etc. I like the idea of being a financial planner to help people with their finances. I want to help people maximize their lifestyle through savings and a little bit of planning. My job currently does nothing for the betterment of anyone's life - i just try to answer questions from people who make a ton of money. In all my company is huge and i've already been exposed to so many different things from accounting, bookkeeping, AP/AR, depreciation, payroll, FP&A, month/quarter end... etc. so i feel like if i stuck with it, I could pigeon into something i like, but i already feel like eventing so far i haven't had a choice. Also the pay increases would be dismal. If i jumped i could make way more than i would if i stayed and got the regular increases plus asking for a little more and introductory salary. I feel like i;ve had enough with manual GL labor and want something else. Its a huge risk to take i get it, because i could stick with this company and have them pay for my MBA. Its been a crazy time for sure and I don't know why i wrote all this but no one i know works in accounting and my parents are of no help for this so..... TLDR: One year anniversary working my first job right out of school for f500 as staff accountant. My work is manual, tedious, and stressful. I'll provide more details if you guys want. AMA [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 31 May 2020 07:49 AM PDT Starting with a B4 firm in audit this fall. How long should I stay in public before going to industry? I have talked with plenty of people who have already left public and tell me a range of answers from 2 yrs to 5 yrs. the 5 yr people say to hit manager then leave. Is there that much of a benefit for staying an extra 3 yrs, or is it better to just get 2 busy seasons under your belt then go make more money? Or if any of you are choosing to stay on the partner track, is that worth it? Any advice would help! [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 31 May 2020 05:06 PM PDT Any new hires get an update about their start date? May date got pushed to August-October and was told there'd be clarification in May (lol) [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Auditors, what's the biggest battle you have had with a client? Posted: 31 May 2020 02:42 PM PDT This sub seems to have 90+% comments from auditors. I'm in tax but did audit many years ago. I hated it mostly due to the adversarial nature of the auditor-client relationship. Let's hear your best war story and how it was resolved. [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chances of Regional Mid-Sized Firms honoring Full-Time offers? Posted: 31 May 2020 06:33 PM PDT I'm a recent grad with completed CPA units set to start in assurance on the west coast (CA) in October, and I've lurked the weekly threads for months now looking for some kind of answer or perspective. With the Big 4 announcing layoffs, the economic situation in the country declining, and no updates at all from my firm, I am worried. I currently have enough financial resources to last me through October, but if my firm rescinds their offer too late I'll have no time left to find a replacement and no money left to live off of while job hunting. What does /r/accounting think of the chances of GT/RSM/BDO firms to honor their FT offers for the Fall? Does anyone know of the theoretical timeline that they might be operating on to announce these [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accountants on the other side of the audit Posted: 31 May 2020 03:45 PM PDT What gives when I follow up with you for the 7th time (I wish I was exaggerating) to provide a simple schedule that would get us out of your hair a lot sooner? Are you genuinely too busy to take a few minutes to send something over? Do you like receiving my semi-passive aggressive follow up emails that I just love typing out? Seriously though what's the deal? [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Big4 M1 (Risk - IA) Career Path Posted: 31 May 2020 07:45 AM PDT I'm a Manager 1 in Risk - IA. Debating if I should stay around to Senior Manager and wanting to know the possible career paths and earning potential I can achieve. In Industry, if I decide to stay the SOX/IA path, what is a realistic end role (i.e. Director of SOX/IA, VP, CAO, etc.) and salary range I can expect? If I decide to leave SOX/IA what other career paths can I take without taking a step back (i.e. MBA, Project Manager/Director, etc.) and their expected salary range?
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| Posted: 31 May 2020 06:55 AM PDT I have been working at a Big 4 firm in tax for 1.5 years (and 1 years worth of internship experience at this firm with 2 busy seasons as well). I'm looking to leave within the next couple months but am not sure where to go from here. I'm looking for regular hours and better pay but don't really have a specific field. I would probably like to stay in the tax side but would be open to any accounting (I have my CPA license). I spoke with a recruiter and they suggested I go to a regional firm and work less hours (but still not ideal) for a year, get some more specific industry training like tech or something for smaller clients, and then jump off to an industry job. I would be okay with doing that for a year. Are there other options? I was even thinking of government roles but not sure if I have the experience/don't know much about them. I'm looking on job sites and see things I would qualify for but I don't want to leave and then get pigeon holed and limited if I select the wrong job out of the Big 4. Any options/advice would be SO appreciated! Thanks! [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Career progression in govt accounting? Posted: 31 May 2020 12:15 PM PDT Basically the title. Everyone always talks about Public -> industry and how glorious that is, but aside from lauding governments work life balance and incredible benefits (albeit lower pay), government doesn't get much discussion here. What does the career progression look like in government accounting? Do most people start out by getting there Masters/CPA/wet their toes in public? Or is it just a hop skip after undergrad. Do you need to be in DC for fed gov work? Are you permanently stuck in one city if you pick state/local? Bonus points for long detailed stories that culminate in big compensation numbers. [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What skills and knowledge do I need to jump from public to private accounting? Posted: 31 May 2020 04:43 PM PDT I have been working in public accounting for about 4 years as a tax accountant for mid sized CPA firm. I'm thinking about jumping to private industry. But I'm not sure what type of skills or knowledge do I need to make the jump. Also, What type of position would I look for in industry? FYI, I have my CPA license. Thanks in advanced. [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Should be graduating in October 2020... should I do another semester or two? Posted: 31 May 2020 06:11 PM PDT Didn't end up ending any full time offers and then the school told me I can't even graduate in May anyways which is now kind of a blessing in disguise. Should I go with the plan graduate in October or do some more courses to try and get a full time offer by prolonging my status as a student? [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Finished CPA exams but possible wait until January 8th 2021 to start with big4: Need Advice Posted: 31 May 2020 02:25 PM PDT I graduated last year with my Bachelors in Accounting and took an internship with EY because I wasn't at my 150 credits yet. I ended up finishing the 7 credits I needed by December 2019 and was working on the CPA exam. From January 2020 to now, I was working on the CPA exams and my start date was supposed to be July 1st with EY. I just recently finished my CPA exams and in the same week, EY said we would either have July 31st or January 8th (2021) for start dates in Tax. I'm wondering if I were to take the January 8th, how would this affect trying to obtain my license? How long do I have before the exams expire? Am I dumb for pushing back my start date? I have only a car payment but EY is offering a stimulus check that will cover it. I'm just nervous if I don't take the July 31st start date, I will lose all the knowledge I just obtained. Even if I waited until January, should I find a job in accounting specifically or just waitress or something? Any help would be great! [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Extreme interview anxiety due to alopecia Posted: 31 May 2020 03:58 PM PDT I'm graduating in December, so I'm currently applying and setting up interviews for January positions. I haven't had an interview yet, but... I'm super anxious about ones coming up because I have an alopecia flare right now. It's visible nearly all the time, so I wear a hat, but obviously I can't do that for an interview. Any advice? Also, I'm a guy. Honestly, I have canceled interviews for part-time jobs in the past because of this, but I know I can't do that with public accounting interviews. [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Questions for any IRS Special Agent or FBI, etc. Posted: 31 May 2020 07:03 AM PDT How often do you have to relocate for your work? How easy is it to work in the location you want? Any tips for getting the job? As I have come to realize, I am so bored at my public accounting job in tax. I am very interested in working in one of these roles but I am concerned about the mobility requirement because I do have a family to consider. I am leaning towards the IRS special agent job due to it seeming to have a better work life balance but I would like to hear from anyone in the field about this. [link] [comments]  |
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