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    Accounting Audit, oversimplified

    March 02, 2021

    Accounting Audit, oversimplified

    Audit, oversimplified

    Posted: 02 Mar 2021 07:14 AM PST

    Me IRL after talking about the next year audit

    Posted: 02 Mar 2021 07:02 PM PST

    Busy season be like

    Posted: 02 Mar 2021 03:52 PM PST

    It be like that. It really do be like that

    Posted: 02 Mar 2021 03:44 PM PST

    How accountants see themselves:

    Posted: 02 Mar 2021 05:29 AM PST

    This is pretty accurate...

    Posted: 02 Mar 2021 09:06 AM PST

    Like KFC, I need to keep the recipe a secret

    Posted: 02 Mar 2021 01:59 PM PST

    The Economist laying the heat on KPMG

    Posted: 02 Mar 2021 12:20 PM PST

    Sometimes it's just gotta be text

    Posted: 02 Mar 2021 06:48 PM PST

    Fuckkkk these hours suck (rant)

    Posted: 02 Mar 2021 11:15 AM PST

    Donkey nuts. This is so fake lol stop asking how I'm doing when we arrive at 6:30. Stop asking how my weekend went (HA, did u forget somehow we worked through Sunday morning?). Stop saying this busy season isn't 'too bad' . Stop asking did i receive the PBCs although i CCd you in the email 2 Fridays ago to ask for them. Stop telling me to 'have a good night' after leaving at 8. Stop acting like we're not all miserable.

    I knew what i was getting into, but mann. Reading/hearing about it vs experiencing it is a whole nother world

    Damn public sucks. Pizza Wednesdays and desserts and snacks on Fridays makes it all worth it tho ://

    submitted by /u/CanUSpareADime
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    So you're telling me there's a chance...

    Posted: 02 Mar 2021 01:04 PM PST

    I love seeing these in my job search for Entry/Junior level positions

    Posted: 02 Mar 2021 12:32 PM PST

    Glitchy and laggy

    Posted: 02 Mar 2021 04:41 PM PST

    Before B4 vs. After B4

    Posted: 02 Mar 2021 09:44 AM PST

    "you're gonna feel so lost" they said.... "no not me, im not an idiot" i said....2 weeks in, being asked to do the simplest of tasks, i have no idea what the actual fuck I'm supposed to do

    Posted: 02 Mar 2021 11:14 AM PST

    idk, y'all werent joking. Once i figure something about it seems so basic and incredibly easy. But its like, every single new task i'm being shown how to do something where 100% of the process is foreign. I know this is just how it is, so im not getting discouraged quite yet, but it is pretty stressful

    submitted by /u/Otterbahn360
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    Has anyone else left Big4 for industry to realize it wasn’t just the Big4 you hated, but that you hate accounting in general?

    Posted: 02 Mar 2021 06:22 AM PST

    I left Big4 after 3 years and moved to a much smaller office in an area I had thought I wanted to pursue. Since starting the new job I have barely worked past 6pm and the hours have been great, but I now can't shake the feeling that I'm stuck in this unsatisfying career for the rest of my life. I know I'm so fortunate to be making the money I make but it's so depressing living every week for the weekend. Not sure if I need more hobbies or need to reconsider my future or what, but it's been weighing on me now more than ever because I think I had thought leaving the Big4 would solve all of my problems. Can anyone else relate? Is there a way to get over this feeling?

    submitted by /u/lazyAD
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    Trying Black Tar Heroin

    Posted: 02 Mar 2021 07:02 AM PST

    Yah know, I wanted to know what all the hub bub around BTH in this sub was all about.

    So I went on Fishbowl specifically the networking side to find a dealer. After a bit of verification I got a one lined up. Was it the good stuff? Idk. First timer here so be easy on me.

    We met up behind the client site. Things looked clear with Covid and all. THEN the Outlook email sound blarred! I was stunned with a deep feeling of life regret. Out sprints fucking Dog the Bounty Hunter from around the corner. He shows me a trial balance that uploaded, tied, and balanced in the first try. I was mesmerized. I mean who wouldn't be.

    Next thing I remember, I woke up in the audit closet I sat in just a year earlier. My hands were tied behind my back with the absence of client files. Then, the firm partner walks in. He says "I expected more of you waffle brain or should I say... pancake brain." I've never felt more hurt or exposed in my life.

    I've been told we're going to have a performance review in 24 hours. What should I do? Do I need to hire an LLM for this or can a CPA do the job?

    submitted by /u/ComprehensiveTeaTax
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    This season is fukt

    Posted: 02 Mar 2021 10:59 AM PST

    That is all. I don't have enough time to get in the details

    submitted by /u/ShadowofStannis
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    Terrible interview

    Posted: 02 Mar 2021 11:31 AM PST

    I just had an interview with one of the big 4 for a summer internship. I didn't even make it half way through the interview. It was one of those recorded interviews and I assumed I'd do well seeing as I wasn't talking to anybody. The questions though were quite difficult and I got super anxious so I quit. I'm so embarrassed that somebody has to watch over my answers because they were terrible. I emailed them saying my internet was faulty but I doubt they'll send me a new link. I was so excited to work at this company and now I'm extremely upset. How do I get over this? I feel so embarrassed and as though I'm stupid.

    submitted by /u/ConstructionQueasy34
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    Am I underpaid at $57k as a 28 year old accountant? Or did I fuck up?

    Posted: 02 Mar 2021 03:53 PM PST

    I graduated May 2016, and got my first job around November of the same year in mostly AP. My pay started at 45k and I got an eventual increase to 50k. Stayed there for a year and a half and left because the overturn in our department was terrible. I worked at the next place for two years making 55k (up to 60k with bonuses). I eventually got a job in a public firm and make only 57k now. I've been there a year. The first two jobs were in a major city but the last one was a good deal away from the congestion. I guess to put it in perspective, the average cost of a home working where my first two jobs were is said to be 624k according to Zillow whereas where I work now, it's said to be about 347k. Yeah, the info could be inaccurate but I think it's a decent way to measure CoL and the relativity of salary. That's partly why I made that move anyhow. I'm still working on my CPA.

    I have almost 5 years of experience, but I feel like I've only made lateral moves in my career and haven't really grown out of low/entry level positions. It's a little embarrasing too how many 22 year olds hold the same position as me and perform the same duties. It's like they had a much smoother start than I did. To get that AP job took substantial effor (so I thought). I've also read other forums where people talk about their salary trajectory in accounting, and it seems to me that after two or three years, they've managed to leap from like 50k to 70k. I wonder, how'd they managed that?

    As I approach my 30s, with what appears to be an entry level salary, living at home (though this is partially due to personal choice), and hardly make enough money to comfortably purchase and maintain a home and start a family, I'm starting to panic. I feel that I'm just mediocre, or even a loser. It also just seems like my salary has stagnated. I'm wondering if making the move to public, even if it's temporary, was a shitty idea after all, when a year ago, I should have applied for a more senior-level position making mid 60s. Maybe I put myself back to square one, which I didn't intend in changing jobs.

    What did I do wrong? Am I just lazy? Any advice will be appreciated and I'm grateful to anyhow that takes the time to read all this.

    submitted by /u/srolly
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    Hmmm... No.

    Posted: 02 Mar 2021 06:40 AM PST

    Advice for dealing with shitty senior associates?

    Posted: 02 Mar 2021 08:05 PM PST

    New associate working in PA audit at a national firm. I have this one guy I keep working with who loves to micromanage time but never really teach. So he'll give me a section of an audit like revenue. Then come up with this wild goal like a day to complete all revenue workpapers. Then the next day he'll as what I have left and then he'll assign time to each thing. He'll say like this part should really only 10 mins etc with each task. Then when I haven't met his absurd deadline he'll go off on a rant in the teams chat about how this only took him x amount of time last year and how my remaining tasks could be done in less time. Even when I'm budgeted like 3 days to audit revenue he complains when all testing, workpapers, and documentation aren't done in 2. He's super awkward on the phone so he never wants to jump on a call to explain a new process to me or anything. This guy also takes 1 hour lunches during busy season and logs off at 9:00.

    I think this is taking results oriented to the extreme. Also extreme micro managing. Every day makes me feel like shit.

    Other seniors I've had will literally take every opportunity to teach. They treat my success as their success and want me to learn. Even with deadlines and pressure from managers and partners, the good ones will spend all day on the phone with the staff and interns on their team trying to help and then at night they'll finish all the crap that managers and partners want from them.

    How do you guys deal with shitty seniors? Any funny way I could fuck with him to push him over the edge to the point where he says something stupid that I can show the partner?

    submitted by /u/BananaForScale69420
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    Is there a shortage of recent/upcoming graduates, staff and seniors in the USA right now?

    Posted: 02 Mar 2021 03:13 PM PST

    It seems like every friend I know who works at a public firm, at least mainly the midsize firms like my own, are struggling to find any talent out there. I know it's common for PA to feel like we are understaffed but over the past four years of working PA, I don't remember it being this hard to find bodies. It has been months like this too.

    Perhaps too much reliance on international talent coming over and now the US domestic market is drier than a partner sending an office-wide email and ending it with a terrible accounting joke.

    ​

    PS. My firm is hiring - and I believe it is above market. 100% remote :) PM me.

    submitted by /u/Endura_GW2
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