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    Thursday, January 28, 2021

    Home Unlabelled Accounting PRINT YOUR NTS NOW IF YOU ARE TAKING AN EXAM THIS WEEKEND!!!! NASBA IS SHUTTING DOWN THEIR WEBSITE AT 6PM EASTERN TOMORROW FOR MAINTENANCE!!!

    Accounting PRINT YOUR NTS NOW IF YOU ARE TAKING AN EXAM THIS WEEKEND!!!! NASBA IS SHUTTING DOWN THEIR WEBSITE AT 6PM EASTERN TOMORROW FOR MAINTENANCE!!!

    January 28, 2021

    Accounting PRINT YOUR NTS NOW IF YOU ARE TAKING AN EXAM THIS WEEKEND!!!! NASBA IS SHUTTING DOWN THEIR WEBSITE AT 6PM EASTERN TOMORROW FOR MAINTENANCE!!!

    PRINT YOUR NTS NOW IF YOU ARE TAKING AN EXAM THIS WEEKEND!!!! NASBA IS SHUTTING DOWN THEIR WEBSITE AT 6PM EASTERN TOMORROW FOR MAINTENANCE!!!

    Posted: 28 Jan 2021 02:56 PM PST

    Busy Season 2022 will be hard for them

    Posted: 28 Jan 2021 11:02 AM PST

    The RobinHood auditors are probably dealing with a hell of a subsequent event

    Posted: 28 Jan 2021 05:10 PM PST

    Reminder that your job doesn’t always come first.

    Posted: 28 Jan 2021 08:17 AM PST

    Notified my boss that I need to leave early on Monday for a doctor's appointment. She asked if that would impact my month-end duties and that in the future to avoid scheduling appointments during close. I started to feel guilty about it. Then I chose to let her know that I understand and my duties will be handled in a timely manner, but this was my only availability for an appointment until April and I'm having a biopsy done. This appointment was scheduled over the phone yesterday after my doctor's office called to tell me that my test results came back abnormal for a third time now.

    I was feeling guilt for putting my health before a company that couldn't give two shits about me. Then I realized just how ridiculous that is. Your health and safety (and that of your loved ones) comes first.

    Edit for additional info: Despite the fact that am technically apart of AR, my month end duties take me about 2 hours on the first day of close and then I'm done. I took over fraud and disputes when another employee left the company last year unexpectedly and I was the only other person that had been cross-trained. I'm also the only person that has stayed in the office rather than work from home because I offered to take care of things like checking mail, scanning documents, etc. Just a few days ago my manager gave me a gleaming review for annual appraisals.

    I appreciate everyone's kind comments. To everyone saying to leave the company and that my boss is awful—this position is actually 20x better than the last position I was in at the same company and now I'm kind of stuck here because of a tuition reimbursement contract.

    submitted by /u/brunetta8
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    First years rolling off an audit like

    Posted: 28 Jan 2021 05:44 PM PST

    Me talking to me wife, who does not work in the financial industry.

    Posted: 28 Jan 2021 03:38 PM PST

    Thanks but I need to send this now

    Posted: 28 Jan 2021 06:07 PM PST

    I received an infuriating email today. I thought I worked with professionals

    Posted: 28 Jan 2021 03:44 PM PST

    Well, I might be back, but this time with imposter syndrome.

    Posted: 28 Jan 2021 08:16 PM PST

    After leaving accounting to work in a data focused role, I saw a job posting at a local company in a similar industry to the company I worked for for about 2.5 years. I was a full time for a little more than a year there.

    Anyway, they interviewed me and my industry knowledge was good and I got along really well with everyone.

    The kicker is that it's a senior position and I got the offer. I'm nervous as fuck, but also extremely excited, but nervous. I'm not even a CPA. Also this is like a 30% increase in pay which is insane.

    Idk what I'm wanting from you all I just wanted to say I'm nervous. I feel like I'll be able to do the job, but I feel major imposter syndrome about the senior title. Wish me luck!

    submitted by /u/steronaldmcdonald
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    Dealing with people belittling you because of your employer

    Posted: 28 Jan 2021 03:52 PM PST

    Recently graduated with my lovely accounting degree and starting my first full-time position in internal audit this Monday. Recent events have caused a lot of my non-business friends to start doing research into to the market and all that jazz, which has also lead them to start really hating big banks and shit like that. Today I got called a suit or was equated to a sell-out for the first time ever (multiple times by multiple people) and I really wasn't sure how to take it?? It definitely made me feel bad, but it more than anything it frustrated the hell out of me because I did just did not know how to respond. Basically, I just sat there and took it. Clearly the easiest thing to do is explain my position and how nothing I do is even remotely related to the things they read about, but I know most people's argument will be something along the lines of "you're still taking money from them blah blah blah". Any advice on ways to combat that?

    submitted by /u/-jhk
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    Advice for a Tax Intern at a large firm (USA)

    Posted: 28 Jan 2021 06:22 PM PST

    Hello guys, I just wanted to ask a few questions about being a tax intern. I am sorry in advance because I know this question is asked a lot on the subreddit. I start my internship at a large firm on Monday and wanted to ask some questions.

    1. Is it normal to feel lost often?
    2. It's been a semester since I've had my tax class. Should I look over anything?
    3. What advice do you have for an intern?
    4. Are there any important excel functions I should freshen up on before I start on Monday?

    I really appreciate your guy's answers in advance; I've learned a lot from this subreddit. I am just really nervous about starting.

    submitted by /u/CAESAR0225
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    ARRRGGHHH

    Posted: 28 Jan 2021 11:58 AM PST

    Robinhood Broker/Dealer Net Capital required by FINRA and SEC

    Posted: 28 Jan 2021 07:27 PM PST

    I'm in my third year of audit and saw the news about Robinhood limiting the purchases of a handful of securities. I wanted to hear from anyone in the industry or perhaps even an experienced of auditor of broker/dealers.

    Per the CEO -

    "Robinhood is a brokerage firm, we have lots of financial requirements. We have SEC net capital requirements and clearing house deposits. So that's money that we have to deposit at various clearing houses. Some of these requirements fluctuate quite a bit based on volatility in the market and they can be substantial in the current environment where there's a lot of volatility and a lot of concentrated activity in these names that have been going viral on social media,"

    I was just put on a new broker/dealer client this busy season, and I understand that there are certain parts of the company's balance sheet that can't be counted towards the net capital amount required by FINRA and SEC. Would clearing corporation and securities depository differences prove to be unfavorable enough for Robinhood to have to limit purchases of certain securities? Would this volatility in names like GME, AMC, etc. a reasonable explanation for Robinhood to have net capital issues?

    submitted by /u/Irishive
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    I got my first job!!!

    Posted: 28 Jan 2021 07:25 AM PST

    I'm so happy to be offered a graduate audit role at PwC in the uk after so many different applications and stressful periods. All the effort was worth it in the end.

    I wonder what is in store for me in the future _^

    submitted by /u/smokego123
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    I have become the type of person I used to envy (my lockdown epiphany)

    Posted: 28 Jan 2021 11:38 AM PST

    Several years ago (back in the times where you could go outside), I remember seeing friends or meeting new people and asking them what they had been doing lately or what they were passionate about. Most of the time I'd hear similar responses; "just working" or "working and studying" etc. in various fields, occasionally some super interesting stuff but mostly just regular people grinding away at life. At the time I was pretty jealous to hear anything like this because I had been floating between jobs and struggling mentally for as long as I could remember, so the idea that some people were seemingly just okay with their day-to-day routine was completely alien to me and I wanted to feel the same way.

    Finding my apprenticeship (UK) in Finance really flipped a switch in my mind. While the hours can be tough sometimes and there are plenty of steep ass learning curves, over the past couple of years I hadn't really realised just how much I have learned and grown mentally until I had a bit of time for some self-reflection during lockdown. Nowadays when I chat with people over text or (rarely) see people in the supermarket, and they ask what I've been up to, my response is just what I used to envy hearing: working and studying. Now granted, there isn't much else to do at the mo, but nevertheless I have been grinding away no matter what. Getting better at my job and passing my exams, even in the face of everything going on. So I guess the morals of this ramble are: take pride in your achievements whatever they may be; only compare yourself to your past self; remember that just getting through the day is enough, and don't let your mind convince you that you aren't worthy when things don't necessarily go your way.

    Thanks for reading

    submitted by /u/oreomilkshake2
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    Career Shift from Teaching to Public Accounting?

    Posted: 28 Jan 2021 06:31 PM PST

    Hello! I am currently a teacher that is strongly considering making a career shift into Accounting. I want to know if my expectations (largely drawn from a potential employer) are correct so I can make the decision with eyes wide open.
    I have currently done basic Accounting courses so that I can start taking upper level courses to take the CPA.

    I have been talking with a potential employer at a small to mid size public firm. If I accept the potential job later this year, I will be trained not for Tax or Audit, but for Client-Accounting Services. As best I understand, this is essentially a bookkeeper for hire who checks that entries are done correctly, internal controls are sufficient, etc.
    The employer told me this job would be an average of 40-45 hours a week, with a stretch of 50 hours occasionally. I would start off at around 40k/year, but in 6 years (assuming I get my CPA) I would be moved up to manager and would expect 80k-100k stretch. There would be more pay raises if I decided to move up further.

    I care a lot about family-life balance (which sometimes works will with being a teacher, but sometimes does not). The job the employer has told me sounds great; a little more than an average 40 hours a week with decent pay and opportunities to move up. However, a lot of this sounds to go against what many on this sub say typically happens at public firms (high work hours, high demands, etc.). Does this job (hours, pay, etc.) sound accurate for doing client-accounting services for a small-to-mid level firm, or would this likely not work out to be good for family-life balance? Could I expect to make around 80k/yr with decent family-life balance anywhere in Accounting, or is this not feasible?

    submitted by /u/Protoklatos
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    Does anyone have ears to the ground with how audit partners and executives are feeling about the GME situation? Very curious to hear what the sentiment is amongst the high net worth individuals within our profession

    Posted: 28 Jan 2021 10:49 AM PST

    Have any of them commented on the blockage of purchasing shares by brokerages? Assuming that some of these people are connected to and are friends with people in the hedge fund world, have they expressed opinions on which side of this battle they are in support of?

    I'm wondering how much support this movement has garnered. After the manipulation today from brokerages and hedge funds, retail could have MASSIVE support (or opposition) from people all around our industry. It doesn't just affect hedge funds.

    submitted by /u/gentlesir123
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    Finally leaving the big 4 tax to industry commercial finance ��

    Posted: 28 Jan 2021 04:02 AM PST

    Hi Guys! I thought I'd come here to share some good news and give hope to someone out there. Background- big 4 Tax- 2.6 years.

    I've worked within corporate tax and expat tax. I am currently still writing my ACCA- part qualified and have always wanted to move out of tax into a core commercial finance role.

    Given that my background was tax and as you may already know, many recruiters kept pushing tax roles to me for consideration. It just felt like i just couldn't get out of tax! A lot of people also advised that i wait till i qualified before actually moving out of tax but to be honest, I didn't want to spend more years within tax.

    After so much prayers and believing God for a new role outside of tax, i finally got an offer! with a fortune 100 company within their commercial finance team. Pay rise is 66% pay bump, exam study support , benefits etc. Handing in my notice next week!

    I'm so excited and happy for this opportunity and so yes you can move out of tax so long as you have an idea of what you actually want, believe, pray and you will get it!

    I hope i have encouraged someone but pls let me know if you have any questions you would want me to answer!

    So excited and thankful to God for his favour most especially!!

    Bye bye big 4! Hello industry

    submitted by /u/Kimpossiblity191
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    I graduated 2 years ago with an accounting degree I never used. Is it worth trying to get back into it?

    Posted: 28 Jan 2021 03:32 PM PST

    2 years ago I barely finished school and had terrible mental health and executive disfunction. I've been working odd service industry jobs since then and slowly improving myself. I'm now thinking it might be time to pursue a career in my degree. Should I look for internships or entry level jobs that dont necessarily require a degree? I'm looking into the cpa process as well. Also I dont want to go to grad school. My gpa is probably not good enough to get me in anywhere and I want some professional experience in accounting before I spend even more money.

    submitted by /u/jacobii
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    The best documentation is always kept inside 5 layers of Outlook emails

    Posted: 28 Jan 2021 07:51 AM PST

    See attached the general ledger which has been forwarded as an Outlook item 50 times.

    submitted by /u/lacbachelor
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    Advice on quitting “firm initiatives” and side projects after 1 day?

    Posted: 28 Jan 2021 09:34 PM PST

    I'm in advisory at a big 4 and we have "firm initiatives" that factor into your performance review. Meaning, it's important to go outside of your billable client work and spend extra time on side projects that benefit the firm as a whole in some way. (I'm not sure if everyone has to do this lol.)

    Anyways, it's annoying but overall fine. A manager I met on another firm initiative reached out to me about helping out for "a few hours a week" with a side project he's working on. Since I'm going up for promotion I figured sure why not to give me an edge.

    Well, he connected me with the team and apparently it's a huge project. They put hour long daily calls on my calendar through the end of April, and are constantly communicating about things throughout each day. I think if I were to honestly join it would end up being at least 8 hours a week of commitment. I'm a strictly 40 hour a week kind of gal on my client, so it would be a significant increase in effort for me.

    I'm confident I want to "quit" it, but not sure how to go about it as I've only called into one 30 minute meeting and it's clear they need help. I haven't even figured out who's in charge, and I know if I spoke with the manager who connected me he'll try to convince me to stay on. They're trying to have people sign up for roles on the team, and I don't want to commit to something if i'm going to quit anyways.

    Sorry for the overly detailed explanation. Any advice to get out of side gigs like this without burning bridges?

    submitted by /u/yoohoooooooo
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    Masters after CPA worth it?

    Posted: 28 Jan 2021 07:02 PM PST

    I'm in a fortune position where I would be able to get my masters and the tuition be waived. Considering I already have my CPA, would you guys consider it to be worth it? On that same note, I saw they require you to take a test at the end called the major field test, which seems like a big comprehensive test. Does anyone know if you can attempt it multiple times as long as you pay for it? If it's a limited amount of attempts, what happens when you reach the limit and still don't pass?

    submitted by /u/Fishtale1
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    Busy Season Is Killing Me

    Posted: 28 Jan 2021 02:50 PM PST

    Sorry this is ramble-y. I need to vent to people who understand lol. I don't have family or many friends who know what busy season is like.

    I am a staff 2 at a big 4 firm and am dealing with anxiety and depression to the point of having suicidal thoughts. I have started therapy and am in the process of getting on medication to help manage it, but I feel like this is all just a desperate attempt to get through the next few months of work. I feel really hopeless. I am exhausted. I can't sleep at night because of the stress and working until midnight isn't helping. I feel bad because I know there are others on my team that are working later than me. I think the guilt comes from knowing busy season is rough for everyone, and they all suck it up and deal and I feel like I can't. I wish I could just develop an "idgaf" attitude about work, but I don't want to let my team down.

    Would it be acceptable to tell my team that I need to take a day off at some point? I've been working weekends for a couple weeks and need a day to just sleep and take care of myself. My work is mostly done and now I'm just helping with random tasks that other people need help with. I worked really hard to meet the deadlines I was given, but I feel like it's not socially acceptable amongst my team to take a day off. I'm also afraid if I take a day off it will affect my performance review but I really feel like I need time away from work right now for my own well-being. Even if it's just a day.

    I am looking for a new job, but am scared to move to a new job during a pandemic. Any thoughts on that? I know this job is not worth my life but I have bills to pay.

    submitted by /u/Ughhhfmltothefullest
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    What economic knowledge do you learn in an accounting degree?

    Posted: 28 Jan 2021 03:20 PM PST

    How would studying A levels economics prepare me for an accounting degree? Whats important about the economics involved in accounting?

    submitted by /u/Sauceles
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