Accounting Anyone else? |
- Anyone else?
- Today feels like that Sunday before another week of grade school feeling, except x100.
- Big 4 is not a prerequisite for success. Four years ago I graduated and started at my Federal job. At graduation I had a -$20k net worth. My networth has now passed $215k.
- The IRS HATES this one easy trick!
- Being a high performer at Big Four
- When my worlds collide!
- It's almost Monday
- Work starts tomorrow
- Agree or disagree? “Honestly a place that’s so concentrated on having B4 experience is not a place you’d prolly wanna work for anyways. It’s prolly B4 preferred because they wanna work you long ass hours and over work you, just like at the B4.”
- CFE Tips & Tricks
- Leaving big 4 two weeks into busy season.
- For those that switched into FP&A, operations or corporate strategy. Do you find it different from your big 4 job?
- This will be my last busy season. Tell me all about the joys of private industry so I can see the light at the end of the tunnel!
- Who also fake a personality in interview and now onboarding new job
- aGrEe?
- It's almost Monday
- Hope everyone is enjoying their last day of freedom
- When we are billed to work 12 hours are you actually “working” those 12 hours?
- Advice on getting fired from public smoothly?
- When you feel like you need to quit public for mental health reasons, where do you go after?
- Am I doomed in accounting? I want to provide for my wife and family.
- Starting my internship next week!
- I had a dream last night that I volunteered to help a local community production of a play and then remembered I was an accountant
Posted: 03 Jan 2021 07:58 PM PST
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Today feels like that Sunday before another week of grade school feeling, except x100. Posted: 03 Jan 2021 08:34 AM PST | ||
Posted: 03 Jan 2021 03:00 PM PST I've been a lurker / occasional poster in this sub for about 6 years now. This post is for all the students out there wondering if they need to go big 4 to have a successful life. Education: I went to community college and then transferred to a cheap state school. I graduated after 4.5 years of college so don't think of me as some over-achiever super student. I graduated with about $23k in student loans and $2.5k cash in my pocket saved up from summer internships. I have a bachelors degree only. I am not pursuing the CPA. Internships: Summer after my Jr year I interned with the federal government. (Fun fact: This subreddit is actually the reason I found that internship! - checkout usajobs.gov for federal internships). After that internship I received a full time offer. Summer after my Sr year I interned with a Big 4 firm. The difference in work life balance and employee happiness was night and day. The intern pay was great but I could tell working B4 would be a miserable 'stay as long as you can tolerate and then run' experience. I decided that wasn't for me and took my federal offer instead. Career: After gradating I moved to DC and started working as a staff auditor. I'm hopeful for a promotion this year. In that time I've worked on 6-7 different audits. It's been two years since I've worked any overtime. Overtime is paid at 1.5x though so I didn't mind it. The work my agency does is interesting and engaging. The work-life balance is great and I plan to spend my entire career with my current agency. Salary progression* / Net worth: *(includes $1k-3k in agency-made student loan payments) 2016: $11k / ($20k) 2017: $62k / $17k 2018: $83k / $54k 2019: $86.5k / $127k 2020: $92k / $217k Family help: I was able to live at home while attending community college. After moving away to a state college my family paid my rent for the first year. I have huge respect for people who had to work and go to college at the same time. I feel very lucky to have had that family assistance my first years of college. Not having to worry about working during the school year to afford rent was a huge relief. I was also on the family cell plan until about 6 months ago. Investing: No individual stocks. No crypto. No wallstreetbets shenanigans. All of my investment money goes to boring total stock market index funds (VTSAX). I've maxed out my TSP (401k), IRA, and HSA every year of working. That was the extent of my investing for the first three years. For 2020 I also opened a brokerage account to invest extra into VTSAX. I have done no market timing and have never sold a single share. Everything is on automatic investments and I spend 0 minutes a week managing it. Why am I posting this? I've seen so many posts asking if someone can be successful without going B4 or getting their CPA. The answer is yes, yes you can. If mods need any proof I'm happy to provide. Not sure where this post falls within the rules. [link] [comments] | ||
The IRS HATES this one easy trick! Posted: 03 Jan 2021 10:43 AM PST
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Being a high performer at Big Four Posted: 03 Jan 2021 10:00 AM PST From what I've seen, being a high performer at the big four isn't worth it. I feel like the normal expectation for someone being amazing at their job would be to make more money and have greater flexibility. However, the staff I've seen who are the best are just given even more work than normal. For example I know a top performer who was given a 6 month busy season client where he worked 80+ hours a week which is not normal for that office. Also I haven't seen most high performers get exit offers that are that much better than everyone else. "For being great at your job the big four doesn't give you more money, they just give you more work." Change my mind. (I'm talking about the staff and senior levels.) [link] [comments] | ||
Posted: 03 Jan 2021 08:18 AM PST
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Posted: 03 Jan 2021 09:42 AM PST
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Posted: 03 Jan 2021 06:24 PM PST I just graduated with my masters and start my first day of work tomorrow. I am working at a public accounting firm. Any advice for starting my new career? Also, I wonder how I'm gonna focus on anything for 8-10 hours a day... [link] [comments] | ||
Posted: 03 Jan 2021 04:10 PM PST Or is it just the clout/prestige factor that employers are looking for? Or Both? Which is more common? What have you guys seen from employers? Thanks. [link] [comments] | ||
Posted: 03 Jan 2021 11:28 AM PST Hey r/Accounting! Another "CFE Advice" post, but I'm trying to put a different spin on this one to avoid redundancy with the other 100+ CFE posts on reddit. When I was studying (FYI I had 2 weeks off, so efficiency was paramount for me) I found that the major sources of information and advice had a lot of over-lap: Time management, case-practice etc. is all important and covered ad nauseum all over the place. So, this post is NOT intended to explain the CFE to you (it would be redundant for me to do that, CFE info is EVERYWHERE), this is supposed to supplement that knowledge with some tips and tricks I learned on my own and would have loved use right from the start of my prep-work. If none of this info seems useful to you, my advice would be to return to this post after you've done some due diligence on the CFE and perhaps have written a few practice cases. If you still this post is useless, then it sounds like you're well on your way to creating a system you're confident with. This is all free of charge and only meant to help you! Of course these tips won't guarantee you a pass, but they will absolutely increase the chance of a pass right away. Immediate gratification! Read on: TIP 1: SPLIT-WINDOWS IN MICROSOFT WORD!
TIP 2: FOLIOVIEWS & KNOTIA
Tip 2a: Folio Views
Tip 2b: Knotia
TIP 3: .XLS-BASED CASE TIME-ORGANIZATION TABLE Time-management is one of the most popular topics you'll hear about from successful writers. Here is how I ensured I stayed within time constraint when writing a case:
TIP 4: CUE CARDS
Below are a couple of my thoughts on common advice: 1. Templates – These are critical and can be created for just about every part of day 1, 2 and 3. Here are some of my templates: Day 1: Situational Analysis:
Analysis of 3 or 4 MAJOR issues
Operating Issues (Strengths, weaknesses and/or a minor quant, nothing super formal) Final conclusion
Day 2 & 3 won't have a consistent structure like day 1, you're doing a lot of isolated Identification – Analysis – Recommendation. However here is a quick template you can use for FR depth which is typically a topic of contention within Cap 2. When you see an FR AO, your analysis section should address all of the following if it's possible:
2. An excel-based study schedule – After I had a general understanding of the CFE, I outlined my entire study schedule which was a mixture of case-writing, technical review & cue cards. This gave me confidence that I was touching on all testable topics, I could program in breaks and days off, and it held me accountable. If I was moving fast that particular day it also gave me the opportunity to finish my work quickly and not feel guilty about closing my computer and shutting off for the day. I'll be the first to admit that this advice is common, but if you would like the file that I created to use as a template then DM me. 3. My Day 2 outline system - You're going to hear about paper-based outlining, digital outlines, and no outlines. Here is my system for day 2 outlining which ensured that I was hitting absolutely everything. a. Put Microsoft word on bullet-points. When you see an AO, write what they want down as a bullet, including the page number. b. Now, using the sub-bullets, your job is to park all information you want to include or need to know in order to answer that AO. That could be physical points you want to include in your answer, or simply where relevant info is in the exam. INCLUDE PAGE NUMBERS, that's critical. You see, CPA will scatter information around the exam. They may provide an AO on page 1, and the information you need to solve it is on pages 3, 5, 9 etc. What you're doing here is chronicling the exam. You aren't going to have much time to locate the same info twice, so using this system you're giving yourself a route map for each AO. I also loved doing this because if I see an AO like board governance, I could immediately jot down (again, using the sub-bullets) the e-book topics I knew would score me points (ex. Odd number of members, diverse backgrounds, someone with a CPA background, frequent meetings, accurate quantitative and qualitative data, recording meeting minutes etc. etc.), and use that as a template for my answer on that AO c. Once you've done this for all AOs, highlight all the text red d. Now, when you start writing your answer, you have an itemized list of everything they want to see. You basically only need to refer to the case for financial statements or whatever you included page numbers for. You've just condensed this exam by a boat-load. Don't be one of the student writers that finishes reading the exam with more questions than when they started reading. This method forces you to get writing immediately. e. Once you've included the information from your outline in your answer, you can now highlight that sub-point (from step "b") green (I suppose you can also just delete it, but I liked having a record of my outline). When you've touched on all sub-points, you can color the text of that whole AO in your outline green. This ensures that all the information you pulled from your read-through has made it to your answer. I cannot tell you how many times I heard someone say they forgot to include important points in their answer even though they noticed them during their read-through. You're doing a lot, very quickly, so this ensures you touch on everything f. At the end, all your AO identification and sub-points from step "b" should have started as red text, and now be green text indicating that point has been addressed in your answer. g. Side note to PM writers. This method works extremely well for AOs like SWOT, Risk-mitigation-recommendation. When you see that's what they want, you physically create a SWOT template, then slot in the points into your outline as you see them when you're reading the exam. 4. Creating a debrief sheet using answer keys. Why didn't I use these earlier? When you submit your case, it will be marked against an assessment guide, which are remarkably consistent between cases, especially for financial reporting AOs. For example, business combinations. I struggled with one of these AOs, but I looked at the assessment guides and realized they're almost always looking for the same criteria to score points on a business combination AO, example:
2 Has a BUSINESS been acquired (integrated operations to produce outputs)
· So, I have an excel file that tracked all this information - it was mostly sourced from CPACanada study tools which you should have access to. In short I'm referring to an xls table where each row would be the case, the AO, the topic tested, my score, brief notes on why I didn't score better, then an area to input your own template so the next time you see that topic you can dump the case facts into your own template. I started this tool late in the game, maybe 2 weeks before I wrote the exam, but I WISH I started this when I began writing cases. It's so nice to know exactly where you went wrong at a glance, and also by including AO topics you can return to cases and work on topics you're weak on. In other words, if I wanted practice on impairment, I could use this table to identify which cases test impairment and jump right into them. [link] [comments] | ||
Leaving big 4 two weeks into busy season. Posted: 03 Jan 2021 03:43 PM PST As many know, the big 4 firms shafted us with raises for those that were moving from staff to seniors. I went out and got a pretty decent industry job over the break that pays 25k more plus 30% bonus. Going to out in my notice TMR. Anyone got any experience of leaving two weeks into busy season? How mad were the managers? [link] [comments] | ||
Posted: 03 Jan 2021 12:51 PM PST My big 4 job is extremely stressful and I don't want to be here for long, so looking into exit opportunities. Thanks. [link] [comments] | ||
Posted: 03 Jan 2021 03:41 PM PST Classic story: burnt out high performing audit S1 at a B4, and I want out as soon as possible without abandoning my team this year-end. I'm not weighing pros and cons; leaving is not a question, it is a definite. Just help me get pumped up for one last push before I get out of here!! [link] [comments] | ||
Who also fake a personality in interview and now onboarding new job Posted: 03 Jan 2021 01:21 PM PST Anxiety kicks in that I cannot maintain my interview personality which is more cheerful and enthusiastic and passionate than the real me. [link] [comments] | ||
Posted: 03 Jan 2021 05:25 PM PST
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Posted: 03 Jan 2021 08:34 PM PST Holy shit the Christmas trees are out in the streets which can only mean one thing.... tomorrow is about to be the start of the greatest period of our lives. Thats right, mother fucking busy season. I can't sleep just thinking of rolling straight out of bed tomorrow onto my souped up gaming PC I bought with all that accounting money and jumping straight into a morning zoom call. Now idk about you, but I'm ready to fuck some work papers up, follow up with clients on pending support, and make so many adjustments my fucking fingers will ache. Tell the FASB to come read this diary. Fuck drugs, sex, and partying. Its debits, credits, and SALY boi. I'm shaking just thinking about how fucking sexy it's gonna be to login to some software and basically go super saiyan. Gonna Goku the shit out these paper work. Only dragon balls I have is when ill be dragon my balls across some reviewed financial statements. I suggest you do the same. Stay getting it boiz and gurlz. Busy seasons coming and it's up to you to fuck it up. [link] [comments] | ||
Hope everyone is enjoying their last day of freedom Posted: 03 Jan 2021 01:08 AM PST
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When we are billed to work 12 hours are you actually “working” those 12 hours? Posted: 03 Jan 2021 04:20 PM PST Is it common to get distracted, take longer on certain things, or just lose attention? [link] [comments] | ||
Advice on getting fired from public smoothly? Posted: 03 Jan 2021 02:56 PM PST Personal health has considerably deteriorated through the years. I've stopped chasing money and material things entirely still in my 20s. And I had that "I want to be partner" delusional mentality at some point. Anyways, had a tough psychotic break and I got fired from industry. I eventually secured a job in my first public employer (worked there for 3 years, got promoted and shit). I've been doing horribly, I was good in audit but I suck now and there's definitely younger people way smarter than me now. I've had a fuckton of holidays/free days, specially because of quarentine where I live. Now I'm back to normal life tomorrow. I definitely hate current job and managers hate me. The only empathy I barely get is from staffs, not even from other seniors like me. I was absent for a single day and the repercussions were so bad I haven't been absent ever since. Even if I put that suit and tie again and cosplay that I'm in the Wolf of Wall Street, any sense of self-esteem is gone and has been gone for years. I don't even have enough strength to "fight back" when someone challenges me (why did you do X instead of Y?). And only recently I've realized this is just humilliating. And I'm definitely getting fired soon. Any advice on making this smooth as possible? I don't want employer to keep giving me tasks when it's obvious it won't fix anything. And it's clear they're building a case against me, I'm too old to play like this. I'd quit myself but I don't have it in my head right now. [link] [comments] | ||
When you feel like you need to quit public for mental health reasons, where do you go after? Posted: 03 Jan 2021 10:46 AM PST I'm sure this is partly the fault of being cooped in for many months on end, but my mental health has never been worse, and working uncomfortable hours for most of the year has really made it a lot worse. Busy season coming for another 4-5 months is making me really worried. I don't think I should quit during busy season, but I've feel pretty trapped as of late with my options. I've been at B4 for almost 1.5 years and while this has definitely been great for learning, it's so easy to burn yourself out, and it's definitely been the case for me. Part of me feels like my future opportunities won't be as great if I leave after this busy season, especially if I leave for industry or government. I like client services, but I really can't do the hours anymore without further sacrificing my health. The industry I audit isn't really the one I want to be in for the rest of my career. I've also thought about grad school, but I feel like I don't know what I'd do with the degree. And if I jump to another firm, B4 or national, there's always the risk that my situation may get even worse. I'm already doing therapy, mindfulness, and all of the things I'm supposed to in order to curb my issues, but at the end of the day, I'm a super high stress and anxious person (thus the associated disorders) and it's frustrating. I'm sure I'm not alone on this, but it feels shitty that I have to keep grinding and keep being at a sweatshop for this field in order to "feel" like I have options and opportunity for growth after public. I'm sure that's not the actual case, but I want to hear where people left for when public became too taxing on their health. TIA. [link] [comments] | ||
Am I doomed in accounting? I want to provide for my wife and family. Posted: 03 Jan 2021 08:42 PM PST I am currently 26 years old. I have Aspergers. I have 2-3 outright abandoned jobs on my resume which only holds 6 positions in general. Each of which are only 6 month positions at most, all in a variety of fields. Is there any hope at all for decent life in accounting? My only aim is to become a workhorse and provide value to those around me. I truly want this more than anything else in life. If only to pay those back around me who have supported through the years like my wife. Have I locked myself out of a big4 position or hell, even a government position? I need advice as I can't stop thinking this. As for some extra related information: On an personal note: I come from an abusive and neglectful household. I simply expected to be dead by suicidal depression at this point in my life. But here I am married and given a purpose to live. On an academic note: I have 30 credits which are mostly unrelated to the degree itself as I have changed my major from nursing to physics to accounting. All throughout the course work I have maintained a 4.0 gpa. I will be finishing my accounting degree in three years if I stock my summers with courses. I know if I continue on this path then I'll be able to join my college's Beta Alpha Psi chapter where I hope to add a more positive experience for my resume. I would like to pursue a CPA once finished with my bachelor's. Tl;dr: The anxiety, dread, and self doubt of a semi-disabled dingus. [link] [comments] | ||
Starting my internship next week! Posted: 03 Jan 2021 08:15 PM PST I start my audit internship next week on Monday. I've been super anxious as it's getting closer. Anyone want to help calm my nerves? [link] [comments] | ||
Posted: 03 Jan 2021 10:52 AM PST So in my dream they needed a drum set player for the band and some extra hands around to help. So I signed up and go to the first practice. We built a train model, painted a background, all sorts of shit. Looked at the time and it was past midnight and I was like "oh man I gotta go home. Then the main volunteer who was totally into it was like "alright we will see everyone tomorrow at 8am" and I said "wait this is everyday" and he was like "yeah man this is serious if we wanna do a good job" and then I told him "oh I quit" and everyone thought I was joking. I said "no it's about to be tax season I don't have time for this shit. What am I even doing here? This is stupid as fuck." And then I went home. Woke up rock hard just thinking about taxes [link] [comments] |
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