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    Accounting What a time to be an accountant

    May 30, 2020

    Accounting What a time to be an accountant

    What a time to be an accountant

    Posted: 30 May 2020 05:01 PM PDT

    I feel motivated already!

    Posted: 30 May 2020 04:21 AM PDT

    Intern using the whole utilization on looking for $5 variance

    Posted: 30 May 2020 03:18 PM PDT

    Is it ok being fat as an accountant?

    Posted: 30 May 2020 05:39 PM PDT

    So im overweight and was wondering if thats ok in getting an accounting job. I still need to finish my degree but was just wondering if I would be at a disadvantage.

    submitted by /u/Silly_Soft
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    Accountants in the entertainment field - how did you get into the industry?

    Posted: 30 May 2020 04:55 PM PDT

    So I'm currently a junior working on my MAcc and a finance double major. I figured I would want to use my first few years after graduation to get my CPA and get into private. However, it's my biggest aspiration to work for a big company in the entertainment industry, like Rooster Teeth, but I'm clueless to what the best route to take would be. Should I spend more time to hone my skills before making that switch or would it be better to try and get into the industry early on?

    submitted by /u/Mattieboii1
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    Looking like every tax manager ever

    Posted: 30 May 2020 09:40 PM PDT

    Truth behind Big4 prestige?

    Posted: 30 May 2020 09:24 PM PDT

    Here on this sub we have people constantly shitting on Big4 and saying they will hire any living body etc. Also r/financialcareers also shits on it and WallstreetOasis as well.

    But IRL in my college I have professors telling us how great it is and Beta Alpha Psi members literally drooling over Big4.

    Do you think getting an offer is at least an achievement? Enough to inform family members? Thanks

    submitted by /u/Big4Koolaid123
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    What car do you drive and why is it a Toyota Camry?

    Posted: 30 May 2020 04:30 AM PDT

    Accounting Student Here, what's the best way to review over the summer?

    Posted: 30 May 2020 07:41 PM PDT

    Hi r/accounting. Basically, I am an accounting student and I just finished taking Int. Accounting 2 this semester, and am going on to advanced accounting in the fall. I take my courses online and I am a bit worried that I have relied too much on google and bs-ing to get to the point that I'm at now. I feel like I haven't retained nearly anything, and I found myself struggling a lot with intermediate accounting 2. I want to take time over summer to review and refresh myself going into advanced accounting so that I feel a bit more comfortable. Are there any solid resources online that can help me review and work on the things I learned my first 4 semesters in Financial, Managerial and Int Accounting 1 and 2? Thanks for any help :)

    submitted by /u/thefontsguy
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    Big4 Voluntary Layoffs

    Posted: 30 May 2020 08:12 AM PDT

    Anyone have any experience with this?

    With the talks of layoffs coming up in the Big 4, is it possible to volunteer myself for this? I have been wanting to get out of accounting for awhile, but don't think I would be considered for involuntary layoffs as I am a above average performer at the firm.

    submitted by /u/GPS071120
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    Timesheet Program for a Sole Practioner

    Posted: 30 May 2020 07:38 PM PDT

    Dear r/Accounting

    I'm at a small firm with a few employees and was wondering if you had any suggestions on the best software to use for time sheets. Currently using excel and have been exposed to the more robust systems that the Big 4 use but need something that is both cost effective and get the following done:

    1) Regular time tracking per employee @ specific hourly rates

    2) Realization and recovery tracker

    3) WIP per client

    ​

    Let me know if those of you at smaller firms or independently owned firms have any suggestions on solutions that have worked for you.

    ​

    Appreciate the help.

    submitted by /u/kobelebronmeldrum
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    BEC Cancelled at last minute

    Posted: 30 May 2020 11:07 AM PDT

    I was supposed to take BEC on Monday at a Boston test center. I studied weeks and weeks for it, as it's my final section. And they wait until today to tell me its cancelled.

    I tried to reschedule on Prometric, but it doesn't seem to let me reschedule despite my exam showing up whenever I search for it. Anybody else have this issue? Did they you receive any help from Prometric on rescheduling?

    submitted by /u/jackchickengravy
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    Would Apple use Specific Identification inventory method?

    Posted: 30 May 2020 08:33 PM PDT

    I'm curious, would accompany like Apple use this method to track different configuration of their devices? If not then what has been your experience with this method and where have you seen it in play? Thanks!

    submitted by /u/childsreddit
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    Recording notes payable for the year

    Posted: 30 May 2020 04:46 PM PDT

    "Equipment that cost $139,000 was purchased on October 1 for $38,000 cash plus a two-year, 10% note with a principal amount of $101,000. Recorded the interest expense on the note payable for the year. "

    So I understand that you debit interest expense and credit interest payable, but how would you calculate the amounts for each account? I know 101k x 0.1 isn't correct and interest expense doesn't include cash amount but not sure how to calculate it.

    submitted by /u/DankeMemeses
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    Cash Basis Accounting: How to set aside cash for taxes?

    Posted: 30 May 2020 03:04 PM PDT

    I've just started a business as a sole proprietor this month. I'm not very familiar with how to pay taxes on this income, but I want to plan ahead and set aside taxes.

    What is the proper accounting transaction to set aside cash for taxes under cash basis accounting? I'm using one checking account with no savings account and would like to keep it that way if possible.

    submitted by /u/GetaSubaru
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    What was your experience like starting your career as an accountant?

    Posted: 30 May 2020 06:58 PM PDT

    I will be graduating with a bachelor's of science in accounting in a few months. I have been lucky to have a great employer during my school who was willing to work with my schedule. I am currently a top performing loan officer at a well known credit union looking to start a new job as an accountant before I graduate. I'm expecting to take a salary cut down to $45k, if any, but is it asking too much to not go below that?

    Anyway I've come here to look for advice on making the transition. I mostly want to know what helped you get your first accounting job? Did you have prior experience? Was it from knowing someone? Any tips will be appreciated.

    submitted by /u/DIVINEDREWER
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    Depreciation

    Posted: 30 May 2020 10:37 PM PDT

    Hi, hope it's alright to ask a rules question here.

    If I've sold a piece of equipment halfway through the year(June). Then I subtract the half years depreciation expense off the equipments value before I remove the asset from my B.S (credit it). Do I then still need to account for that depreciation expense in my income statement at the end of that financial year(December)? Even though I don't own the equipment anymore.

    Thanks

    submitted by /u/incarnata4
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    What specific elements of Steinhoff’s Financial Statements would indicate suspicions of fraud?

    Posted: 30 May 2020 09:57 PM PDT

    I'm just stumped. I'm not all that keen on analyzing financial statements yet and have been at this the entire day now. Idk if this is the right sub to ask this question either so please lmk so I can delete.

    Anyways, Steinhoff international was accused 3 years ago for accounting fraud. Investigators claim that Steinhoff inflated their profits through off-balance sheet entities. But what specific aspects of their financial statements would point to suspicion of fraud? Like if I were to do analysis of ratios and comparisons among the different accounts, what relationships would signal fraud?

    Anything to help me regarding this topic would be helpful, even linking me to a source.

    submitted by /u/JustSomeWook
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    Masters in Accounting or Masters in Business Taxation?

    Posted: 30 May 2020 09:10 PM PDT

    I'm about to begin school at the USC Masters Program and am deciding between MAcc or Business Taxation. Any advice?

    submitted by /u/Losangelesng24
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    Busy season

    Posted: 30 May 2020 08:26 PM PDT

    How long does busy season typically last for someone with an October start start for audit? If it's January to April then why do people start 3 months before busy season? I'll be at a pretty large firm (GT/RSM/BDO) size. What months should I expect to be the busiest? I'm only asking because I'm planning on studying for the CPA exam while working and want to plan when I'll be studying/taking the exams.

    Please don't shit on me.

    submitted by /u/TendyloinLover
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    Is there a future in accounting?

    Posted: 30 May 2020 01:17 AM PDT

    My brother is a CPA in Australia. He recently said that there isn't much money in accounting and that it's a dying field. I was hoping to pursue accounting and business in collge but now I'm in a dilemma. Can someone tell me if what he said is true to some extent?

    submitted by /u/EvilMonkeys92
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    Perdisco Practice Set

    Posted: 30 May 2020 07:42 PM PDT

    I'm taking intermediate accounting and I'm already finding myself lost with the weekly transactions part of this practice set, which I'm guessing is the easiest part of this practice set. Does anyone know any helpful resources that could help walk me through this practice set

    submitted by /u/HoneycuttNoah
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