Accounting I found a channel that fact checks accounting in movies... it’s actually pretty cool, I thought I would share it |
- I found a channel that fact checks accounting in movies... it’s actually pretty cool, I thought I would share it
- The first recorded human was a Sumerian accountant named Kushim. He made an error in his inventory
- It's January 1st, you know what that means
- It’s 1/1/2021
- Toilet rant of a lowly staff accountant
- Remind you of anything?
- Is CPA worth it for federal accountant?
- Any tips for managing workload and avoiding burnout?
- What I learned from 1.5 years in tax technology at B4 (some thoughts apply in general for accounting/tax)
- Big 4 Tax Manager > industry - what salary would you tell hiring managers/recruiters?
- Advice for you aspiring young accountants
- With busy season around the corner and WFH meal expenses cut, what are you planning to eat?
- Help on becoming a bookkeeper
- Drug Test for Accounting Firm?
- Just starting out.
- Freelance accounting
- So would it be worth it to bother pursuing a CPA license for my goals?
- Looking for my first accounting internship
- Startup.
- Accounting vs. Computer Science?
- What is the best way to gain experience?
- Accounting Professors
| Posted: 01 Jan 2021 11:26 AM PST
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| The first recorded human was a Sumerian accountant named Kushim. He made an error in his inventory Posted: 01 Jan 2021 11:19 AM PST Yes, the first recorded human was not a king, a priest or a sorcerer, but one of us. This is why you always sign your papers. Also, if you make an error in your inventory, people will remember it until the end of human civilization. From the book "Who ate the first Oyster":
Note: This might not actually have been an error. Maybe he just embezzled some stuff. [link] [comments]  | ||
| It's January 1st, you know what that means Posted: 01 Jan 2021 09:24 AM PST
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| Posted: 01 Jan 2021 11:39 AM PST | ||
| Toilet rant of a lowly staff accountant Posted: 01 Jan 2021 05:10 PM PST Well here we are, a new year. It was one year and 7 months ago i graduated and started a job as a lowly accountant with clerk duties as well as "accountant" work. I was and still am the go to guy for downloading reports for people and doing manual stuff. Half of my job feels like just plugging and chugging and doing my work. Like just drilling in the screw as the chair rolls by on the assembly line. And the other half of my work is managing the torrential downpour of emails and conflicting responsibilities, all while under the pressure of trying to improve things and participate in [insert process improvement system here]. Being so low on the totem pole starting out i have many clerk type tasks but i do have some real big boy things like reconciling accounts and making accruals and things. I also have a department review (entails refreshing an Excel macro and just looking into the variance a little before sliding it over to the FP&A guys). Ive come to the realization, neck deep in cumulating responsibilities and high stress, that im just not that into this accounting thing. ill have 2 years experience soon and i want to make a move and make some changes. I dont know what that might be, but i definitely want change. Maybe ill stay with this company and learn how to get a mentor and have them help transition me into something i might want. Or maybe ill move to a different company, in finance or maybe something entirely different. Or maybe ill quit all together and travel the world (hopefully when travel bans lift) Sorry for the down thoughts here, or mess of thoughts this may be, but i wanted to type that out. On a positive note, i took 2 weeks off over the holidays and have been able to dive deep into and spend so much time on my hobbies and things i love to do. It feels so good to break from the monotony for 2 weeks and be alive. God damn it feels good. See you all online Monday!! [link] [comments]  | ||
| Posted: 01 Jan 2021 07:29 PM PST
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| Is CPA worth it for federal accountant? Posted: 01 Jan 2021 07:57 PM PST I'm a federal accountant. My salary will automatically top off at 135k in DC. I think I'll stay in federal government until retirement (with that sweet sweet pension). I know the importance of the CPA license but the feds don't require it and won't pay for it. So I'd have to pay: Community college credits: $1,500 Study materials: $3,000 (estimated) Test applicationfee: $120 Exam fees*4: $900 +any re-examination fees +CPE fees +membership fees Total estimated costs: $5,500+ So is the cost+time/energy worth it when I have to pay out of pocket and there is no guaranteed benefit? [link] [comments]  | ||
| Any tips for managing workload and avoiding burnout? Posted: 01 Jan 2021 07:42 PM PST I'll be starting remote work in a couple of weeks, so I wanted to hear some ways that you all avoid overworking yourselves and keeping your workloads manageable? I saw a post a few weeks back talking about the importance of setting boundaries and limits but it offered no practical advice. I'd love to hear any tips y'all could share, especially as it relates to remote work as I've never experienced this before. Thanks!! [link] [comments]  | ||
| Posted: 01 Jan 2021 02:50 PM PST Alright, so I am totally out of B4, out of tax, out of accounting, everything. Looking back, I'm grateful for getting my foot in the door in software development, which tax tech allowed me to do, but man I wish I knew a lot of things when I started that I know now. So, to that end, I thought I'd share what I wished I knew with you guys who are aspiring accountants. Also, I get a lot of PMs asking about tax tech, so here ya go. #1 ACCOUNTING DOES NOT PAY AS MUCH AS EVERYONE HERE CLAIMS I don't like all caps, it's annoying, but this point is so important I felt the need to highlight it. I don't know if the vast majority of people on r/Accounting are making up their comp, it used to pay more, whatever, but you will not make as much as you think. Your starting salary in MCOL, which is where I'm at so I'll use that as an example, is going to be about 52k for audit and 55k for tax at B4. If you go into advisory, it'll be higher at around 60k. Tax tech we started off in high 60s. Keep in mind this is for a profession that requires a bachelor degree and a master's degree as well as extra work on the side (CPA) to optimize your chances of success. These starting salaries haven't budged from what I've read since about 2008. I did initially look at industry tax jobs, since I was hating my job pretty bad at the 6 month mark, but even with 2-3 YOE you're looking at around 70-80k. Which, yes, that is the vaunted 20-30% bump everyone talks about, but 70-80k doesn't go that far in MCOL anymore. If your spouse works, you'll be fine, but just be forewarned. When you're watching Becker and the lawyer dude, forget his name, is talking about how you'll be swimming in benjamins that's just not true. Also, for the fact you need a BS + MS + CPA to do it, the ROI is not great. It's better than a lot of industries still, but it pales in comparison to other degrees like data science, computer science, etc. #2 Tax technology is not worth the higher salary to start in Simply put, it's kind of interesting, and kind of neat, but if you think tax is niche and will pigeonhole you well tax tech will do it even more so. I think it's fine if you know for sure that's all you want to do with your life, but if not, I think a safer path would be to start in regular tax and get compliance experience first then do tax tech. That way, if you decide you don't want to do it forever, you have the compliance experience everyone will expect you to have. Caveat: If you get to the end of your degree, and realize you're not a huge fan of accounting or you otherwise have a strong interest in data / tech, then tax tech as a first job is a good choice. Obviously it got me into software development, and many of my colleagues left for software development or data analyst jobs, so it's good to get related experience for that kind of stuff. #3 Work-life balance is not much better in tax tech or advisory in general from talking to my colleagues You likely won't work 80-100 hours a week like you will in tax or audit (fun fact that's not much above minimum wage if you calculate your effective hourly rate) but you will still be expected to work nights, weekends, work on every single vacation, cancel PTO, work over holidays or holiday break, all at the drop of a hat, if that's what your manager wants. So, your total hours will be less, but your WLB will be just as trash as it otherwise would be in the other practices. Also, all of the people at manager and above seem to work 60+ hours a week. It's a horrible life that I would not wish on anyone. #3 The CPA is underrated for interviewing Yeah, you may be wondering why I'm saying this since I left accounting completely, but if you think all the BS of accounting is stupid look up the interviewing process for software engineers. It's insane. There is no certification, like there is with CPA, where you can just get B4 experience and CPA then be super competitive for jobs. It's way more like a luck-based lottery interviewing in other fields, so for interviewing and getting jobs, accounting is ahead of most industries. #4 You don't have as much stability as you think When I left a week ago, it was about a month after the B4 firm I was at announced that they were laying off 4% of everyone in the tax practice or asking them to take 20% salary reductions. They also cancelled bonuses, slashed benefits, and gave me a 2% raise. There is absolutely no guarantee of you keeping your job in an economic downturn nor are you going to get 10-15% raises on average like everyone here brags about in public. You are just as likely to get screwed, whether it's due to covid, an asshole manager, etc. Which leads me to my final point... #5 Do not stay in public accounting Seriously. The clients are leeches. They try to squeeze as much out of you for as little as possible. This leads to very unethical crap like time getting eaten, managers asking you to work on PTO, etc. in this insane but hopeless effort to always please the unreasonable client. Also, every firm will say they're against eating time, but if you don't, inevitably you will get punished one way or another. It is a very toxic relationship, and it permeates audit, tax, advisory, everything, and frankly I just don't see it changing. The public accounting model is essentially a pyramid scheme where the people at the top exploit the hell out of the people at the bottom (you) while dangling the carrot of some day making partner in front of you to justify all of the abuse they will subject you to. To that end, you should very much consider yourself a mercenary. Do not stay longer than you have to. You do not owe them shit. They will exploit you as much as possible, so do the same to them. Make them pay for all the food you can. Make them pay for your CPA. The moment the clawbacks expire on your signing and/or CPA bonus, consider looking. Some people here advocate for staying until senior associate, and maybe for the title bump that may be worthwhile, but seriously the moment you have determined it is best for you to leave (and the sooner the better) then get the fuck out. You should give no loyalty to them, because I guarantee they will give none to you. Also, a lot of industry jobs aren't much better. Due to the nature of deadlines in tax and accounting, you're going to be working over 40 hours a week regularly. Sorry. This subreddit seems to give the impression that once you escape to industry everything is magically better. It's not. Plenty of people joined my practice, coming from industry, and talking about the hours they worked and WLB they had, there wasn't much difference. Maybe for private companies it is but publicly traded companies have filing deadlines, hence why the public accounting firms work you like dogs, to meet those deadlines. Obviously, they still apply if you're on the other side. You may get some improvement, and it's fair to assume that'll be the case at most companies, but the hours / WLB in this profession just aren't great and you can't sugercoat that fact. Hope it helps guys. Still a much better choice to do accounting than say marketing, history, business, and a lot of other crap. Try to avoid any debt if you can, and failing that, take on as little debt as possible because seriously with what you'll get paid you'll have a decent middle class life to start if you don't have a lot of loans but if you do then you're going to be living check to check. [link] [comments]  | ||
| Big 4 Tax Manager > industry - what salary would you tell hiring managers/recruiters? Posted: 01 Jan 2021 11:22 AM PST Currently a big 4 tax manager (asc 740 / compliance experience) looking to leave and join the industry world. What range would you give to HR and recruiters for base salary expectations?
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| Advice for you aspiring young accountants Posted: 01 Jan 2021 09:50 PM PST Always try to get hired at the firm with the hottest recruiters. That place will far and away have the best culture. If they have any men or women in their 30s recruiting than they are not worth your time. [link] [comments]  | ||
| With busy season around the corner and WFH meal expenses cut, what are you planning to eat? Posted: 01 Jan 2021 06:33 PM PST What is everyone in public accounting planning to eat this busy season!? I'm going into my second busy season and I keep wondering how I'll feed myself since my company doesn't let us expense our meals if we WFH. I really struggled finding the time to cook for myself last busy season. I don't want to pay for takeout, so I've been creating a list of things to prep during busy season that are quick and easy to pull out of the fridge during the week. So far this is my list: - Fried rice - Soups (any kind) - Pre-mixed kale salad w hard boiled egg & vinaigrette - Cereal - Snacks: bananas, avocados, dates, almond butter - Baked sweet potatoes - Egg on toast - Frozen fruit & spinach smoothie for warmer days - mixed veg stir fry with rice What are your go-to time saving meals & snacks? [link] [comments]  | ||
| Posted: 01 Jan 2021 02:43 PM PST Hey, so I am 25 years old and have a severe lack of work experience because of health issues and I only have high school equivalent grades, I am also from the UK. I have recently been looking into bookkeeping but I have no idea where to start and how to get a job or become a freelance bookkeeper, are the AAT bookkeeping courses worth doing ? will I be able to get a job by the end of it ? I'm sorry to come here and ask but its really difficult getting these questions answered, any help would be very much appreciated and I am extremely grateful, thank you. [link] [comments]  | ||
| Drug Test for Accounting Firm? Posted: 01 Jan 2021 01:20 PM PST Throwaway account for obvious reasons, but anyone know if any mid-tier accounting firms drug test prior to going into an advisory position? Thx [link] [comments]  | ||
| Posted: 01 Jan 2021 04:52 PM PST Hi everyone, I just completed a BS (non accounting/financial related) and am taking pre recs for the MSA program, I got an "A" in Intro to accounting. I know intermediate is going to be a beast. Just looking for any advice to prepare for this upcoming journey. [link] [comments]  | ||
| Posted: 01 Jan 2021 06:20 PM PST I'm starting to do freelance accounting but more into the audit and budgeting. Really not sure what to charge my first client? Any suggestions. [link] [comments]  | ||
| So would it be worth it to bother pursuing a CPA license for my goals? Posted: 01 Jan 2021 09:36 PM PST So I'm currently a junior in college, but - I'm also a 28 year old nontraditional student, only going halftime. So the extra 30 credit hours would add on 2 years until I was finished with school, as opposed to one. On top of that, my long term goals aren't particularly extravagant - my goal is to find a job as a senior accountant somewhere earning around 80-100K, with the work-life balance to let me focus on all my shit outside of work, and basically just coast there forever. I have absolutely zero aspirations to go into management or anything along those lines. Thanks for any and all advice in advance! [link] [comments]  | ||
| Looking for my first accounting internship Posted: 01 Jan 2021 03:28 PM PST Hey guys I'm a sophomore accounting student at kent state who is looking for my first internship. I have a 3.5 GPA . I'm looking for an internship in the Cleveland/Akron area. Honestly I'm just looking for experience from my first job, I really want to get good with my accounting skills for my first job. I have a linked in profile set up for opportunities. I'm talking to some companies right now and I'm hoping that works out, but I'm just curious what you guys did to get a good first job. If you live in my area and there is anything you know of specifically that would be great! [link] [comments]  | ||
| Posted: 01 Jan 2021 05:30 PM PST Hey guys, Recently me and my dad bought a liquor store. I want to be able to the tax in house and invoice them from my own startup practice. I would be doing monthly sales tax and other tax work related to the business in the state of Michigan. Currently I was as property accountant full time, and studying for the CPA. I realize if want to make this profession lucrative, I would need to start a "side gig". Problem is idk where to start. I could really use some guidance in starting my own boutique, niche vas tax service. Any info would help! GaR 01/02/20 Thank you! Happy new year! [link] [comments]  | ||
| Accounting vs. Computer Science? Posted: 01 Jan 2021 04:34 PM PST I have narrowed my college major between these two choices. I have taken intro courses for both and can't manage to pick either. Can current accountants please let me know everything about their current job, from pay to job satisfaction. [link] [comments]  | ||
| What is the best way to gain experience? Posted: 01 Jan 2021 08:03 PM PST I have changed my major to Accounting and have started looking for bookkeeping related jobs in my area, but I have not related experience. What would be the best way to build up experience to make me more desirable for employers? [link] [comments]  | ||
| Posted: 01 Jan 2021 12:08 PM PST Are there any full-time research oriented accounting professors here? Would love to connect with someone about your path. [link] [comments]  |
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