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    Accounting Normies haven't even heard of NOL carryforwards

    September 28, 2020

    Accounting Normies haven't even heard of NOL carryforwards

    Normies haven't even heard of NOL carryforwards

    Posted: 28 Sep 2020 12:33 PM PDT

    And I repeat, if you have any questions please Google them

    Posted: 28 Sep 2020 04:05 PM PDT

    How it be at work, everyday

    Posted: 28 Sep 2020 09:16 AM PDT

    Public accounting rant

    Posted: 28 Sep 2020 05:04 PM PDT

    I honestly don't know if I can make it another busy season. I keep trying to find a fragment of me that cares about this job, but there's nothing there. It baffles me how people still go for manager.

    • I am sick of being horribly underpaid and then expected to be grateful that I was blessed with securing a public accounting job. There are admin staff at clients we audit that make double what I make. I know that the exit opportunities are good once you leave PA, however many people choose to stay in PA well into their post-CPA career to earn significantly less than industry.

    • I am sick of partners questioning why I am billing so much non-chargeable time when half the small businesses we serve are out of business.

    • I am SICK of the actual job. The reason why people struggle with the job initially is because they think that it means something. Guess what audit is? Its copy/paste/vouch and ask if anything is changed in the year.

    • I am sick of useless fucking managers instructing me to just follow what was done last year and then have the audacity to query me 'why is the working paper like this' and 'this isn't right, you should know these things by now'. You're the one who reviewed it last year bud.

    • I am sick of PA culture. Seniors/managers shit talking the new staff, people eating hours to appease some fucking sick idea in their head that if they eat time they will earn a thumbs up from the partners.

    I hate this profession with a passion and hope that one day we can live in a world where new college grads realize that PA isn't their best option. Anyway thanks for coming to my Tedtalk.

    submitted by /u/bigfourslave
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    Stuff on LinkedIn that never happened part 467

    Posted: 28 Sep 2020 04:01 AM PDT

    People going through recruiting can relate

    Posted: 28 Sep 2020 07:42 PM PDT

    Your Reward

    Posted: 28 Sep 2020 12:18 PM PDT

    Just rediscovered this meme I made when I was in grad school and thought you all would appreciate

    Posted: 28 Sep 2020 03:16 PM PDT

    I learned a valuable lesson - the power of the CPA credential comes when you negotiate for salaries and look for other opportunities, not to get promoted!

    Posted: 28 Sep 2020 08:07 AM PDT

    I passed my CPA and was expecting some kind of promotion at my job (I work in industry, Internal Audit). My employer basically gave me a high five for passing the exams, but there has been zero talks of a promotion, much less a raise (esp. right now because of tight budgets). I found an outside offer that pays me significantly more, and I was able to negotiate a higher starting salary because of my CPA license. I learned that the CPA adds value while you look for jobs, but not so much to get a promotion.

    submitted by /u/debits_equal_credits
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    Apparently Linkedin = Instagram for business people.

    Posted: 28 Sep 2020 12:18 PM PDT

    NASBA sucks balls.

    Posted: 28 Sep 2020 11:59 AM PDT

    That is all.

    submitted by /u/the_underdog01
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    A layman’s questions regarding Donald Trump’s financials

    Posted: 28 Sep 2020 08:44 PM PDT

    1. Over a 20-year period, let's say, can a person legally demonstrate far more losses for his business than his business income ever generated?

    2. Can a person legally demonstrate that their business covers every aspect of their personal expenses, from hair care to snacks to lodging, so that their yearly salary amounts to $0 while they live a lavish, public lifestyle?

    3. If either of the above is true, what keeps everybody in the country from doing the same?

    submitted by /u/ranchoparksteve
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    "While technology will not replace auditors, those auditors who know and use it will replace those who do not"

    Posted: 28 Sep 2020 04:40 PM PDT

    I saw a quote recently that I thought expressed well the whole "Will technology make accountants obsolete" issue, so many students have asked over the last day or two:

    "while [technology] will not replace auditors, those auditors who know and use it will replace those who do not."

    submitted by /u/Blockchainauditor
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    Audit bad day rant. Don't care if no one reads

    Posted: 28 Sep 2020 02:49 PM PDT

    I work for a top 10 national PA firm and I started full time 01/2020. I interned for few months before that. Since I've had 1 busy season, I'm technically an experienced auditor.

    Lately, I've been really struggling. I do my best to think critically and solve issues using various resources before asking for help. Often times, I do all that I can and ask the question to the in-charge and almost every time, I get off the call feeling like shit. Part of it is this particular in-charge. I articulate the issue that I'm having and have a general idea on how to resolve this, however... sometimes I'm not sure if my idea on resolving the issue would be acceptable in our approach.

    For lack of better words, I think my issue is the balance between doing a very detailed audit versus BSing some stuff. I don't mean investigating things below materiality or completely disregarding audit procedures, none of the extreme spectrums... but I feel like when I go to the in-charge on how to resolve something, she is okay with "being lenient" on what supports we use when in fact, her review notes appeared to be very particular. It's almost like, you wanted something done in a certain strict way and I spent an hour trying to make it work, but when I tell you I can't figure it out and you actually do the steps and it doesn't work because this and that SUBTLE things... and NOW all of a sudden, we can disregard that 1 detail?

    It may seem like the smallest of the details but that was exactly what made me stuck and feeling like I could not ignore it. She gets mad at me but I don't think she gets that. I mean, if we were to be more lenient on these subtle things, I could have solved it too but I feel like she kind of berates me before even listening to me or it just goes out the other ear. Kind of like "you need to learn how to look at prior examples and read my review notes". Well I did all of that, but doing it exactly like your review notes doesn't exactly work because of this and that SUBTLE issues.

    She's just not really approachable and honestly if I could make the decisions myself sometimes, I don't think it'd necessarily be wrong and work would be done already (though I know I'm definitely wrong sometimes and absolutely needs more experience and training!!). I feel like she sometimes asks for smallest changes in a w/p, not realizing what big of a difference it makes and how much work it actually takes for something minor when we got big things to worry about before the deadline. Then, when I bring it up, she's too prideful to take it back. It's kind of crazy how in less than a year, I will be in-charging a job too. I will never be an in-charge like that. I don't care if I work more hours, I'm going to walk a new staff through how to do something step-by-step if it's their first time doing something. It's BS how PA expects people to just figure things out on something they've never done before. I understand critical thinking and problem solving skills are extremely important but not when it's your first time!!! And when an experienced staff gets stuck on something after doing their due diligence, we will figure it out TOGETHER!!! Not this boss (I guess that's the in-charge) vs. staff BS, but 2 people thinking together!! Oh, and then I'm going to leave PA soon after that. Very soon. Shit sucks.

    submitted by /u/Kitchen-Clock9616
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    Does PA bring the worst out of you

    Posted: 28 Sep 2020 07:44 PM PDT

    What it exactly did to you? I see inpatient and grumpy in me now

    submitted by /u/Xxxxxam
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    Anyone else need to lose weight after pulling so many hours this year?

    Posted: 28 Sep 2020 09:21 PM PDT

    Countdown: 17 days until Oct 15

    submitted by /u/a82i53icu37t2
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    Any KPMGers hearing about layoffs?

    Posted: 28 Sep 2020 02:50 PM PDT

    It has all been rumors and "I heard from x..." but apparently layoffs are coming this week and I wanted to see if anyone else has heard anything. Personally I expected this as FYE is Wednesday and I think I will be getting the boot.

    submitted by /u/ThrowawayforKPMG
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    Paralells between the Big 4 and military

    Posted: 28 Sep 2020 08:28 PM PDT

    Is it just me or is the Big 4 using tactics that the military uses?

    Recruit on college campuses (and even high schools now)

    Promise a stable future for a few years of work

    Underpaid/overworked

    KPMG MADA? More like KPMG ROTC

    Targets accounting majors, many of whom are people trying to get into the middle class.

    submitted by /u/today-is-the-future
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    Advice on leaving government.

    Posted: 28 Sep 2020 04:40 PM PDT

    Don't know where to start so I'll just jump right in. 3y in governmental audit (Senior I) straight out of college. 3.95 GPA and a CPA. Didn't want to move to a Big 4 market or work in a small public office. Kind of fell into government and didn't really understand how it could affect my future prospects. The work life balance is great, but the work is becoming mind-numbingly repetitive and I don't feel like I'm growing much.

    For anyone who's made the move or anyone else with insight, what kind of roles can I apply to and expect to be taken seriously? Do I essentially have to start over?

    Also, might as well throw this in here, but the standard resume advice is to make your experience about "achievements" instead of responsibilities. Any tips on how to do that as an auditor?

    submitted by /u/SoMuchNic
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    Big 4 coming up with those infamous theme songs

    Posted: 28 Sep 2020 04:09 PM PDT

    Is this what we've become?

    Posted: 28 Sep 2020 01:51 PM PDT

    I'm not a tax guy by trade but I'm very confused by this statement:

    Posted: 28 Sep 2020 10:27 AM PDT
    Read more
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