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    Saturday, May 8, 2021

    Accounting I am not excited for life

    Accounting I am not excited for life


    I am not excited for life

    Posted: 08 May 2021 07:38 AM PDT

    Experienced both sides and I can’t stop laughing at this picture. Hahahaha (ctto)

    Posted: 08 May 2021 03:04 AM PDT

    Seeing people post about two weeks notice

    Posted: 08 May 2021 07:43 AM PDT

    Jury Duty? Lawyers do not seem to like accountants!

    Posted: 08 May 2021 10:25 AM PDT

    Had to report for jury duty last Monday and was put in the jury box right off the bat. Attorney looked at his paperwork and asked which two jurors were accountants? Both of us were dismissed! My boss said same thing happened to him. "Juror #8, what do you do for a living? Accountant? Dismissed!" And in my case the attorneys on BOTH sides asked for dismissal of the accountants. Mine was a civil case, my bosses was criminal. Just thought this was interesting!

    submitted by /u/wifeofadeadhead
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    When you already have an offer in hand to transfer out of audit with another firm

    Posted: 08 May 2021 12:12 PM PDT

    EY Sweden saw a 25% revenue growth in 2020. Guess how the firm rewarded its employees

    Posted: 08 May 2021 12:15 PM PDT

    Yep, that's right: they gave out YELLOW JACKETS WITH THE EY LOGO.

    And yet they worry about all the best employees leaving🙄

    submitted by /u/Clarko95
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    After your first few years in B4

    Posted: 08 May 2021 05:12 PM PDT

    I think they know I’m a tax accountant

    Posted: 08 May 2021 03:09 PM PDT

    If I go in a business trip to Mexico and end up getting kidnapped but I pay the ransom with my corporate credit card, can I claim that the money used to pay is a business-related expense?

    Posted: 08 May 2021 02:43 PM PDT

    When you give your 2 weeks' notice but they re-assign all your work already

    Posted: 08 May 2021 12:00 PM PDT

    Feeling hopeless and slowly spiraling into depression

    Posted: 08 May 2021 06:00 PM PDT

    Long story short I've been working in public for about 5 years. I got into it after studying accounting in uni but never finished all my required courses for CPA.

    I did some Prep courses and now entered the PEP program. I honestly remember so little of the technical stuff back from uni days (10+ years ago) and feel overwhelmed and hopeless. I'm reading the CPA ebooks and working on developing my case writing skills but I just feel overwhelmed and every time I start studying I get terrible anxiety to the point where my stomach is turning and I'm getting other physical symptoms. I know younger people are coming out of uni with fresh knowledge and for them the PEP is just in large part a review, and they're focusing on using their technical knowledge. Meanwhile I'm desperately trying to learn and keep up with the overwhelming speed of PEP Core courses.

    I honestly don't think I like accounting and never have. I got into this field because I didn't have any better options at the time. But now I feel stuck and wedged between a rock and a wall. I have a family to provide for. If I don't get my CPA then what am I and what jobs can I even get. The job market is already so competitive and if I don't get this CPA I don't know what else I can do with my career. Even if I try my best, am I even capable of passing the CFE anymore? I have no idea.

    The anxiety and stress are just destroying me from the inside out and I feel hopeless and desperate. I have a history of depression that I've always fought so hard, but now I feel like I'm falling into a black hole of depression and I don't know what to do. I want to get this CPA but at what cost?

    I don't even know the point of this post other than to vent and hope someone out there can tell me it'll be ok no matter what happens.

    submitted by /u/Decent_Ad_8035
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    Worried about exit opportunities from a regional firm

    Posted: 08 May 2021 07:46 PM PDT

    Almost done with my first year at a regional (Silicon Valley) CPA firm working as an audit associate and I'm starting to worry about my exit opportunities. I know I'm not interested in the parter track and I want to move on to working in the industry in another year or two, ideally at a tech company. However, I see many industry job applications that prefer Big 4 experience. I am currently assigned to a very niche practice that in my opinion, would not be relevant for working in the industry. There is an auditing practice in the firm related to tech companies, however, I'm not sure if I can be assigned to it as we have a greater number of clients in the niche practice. I hear the benefit of exit opportunities often outweighing the pain of Big 4 in this sub and I am starting to consider my options. Any thoughts or comments from those working/have worked at a smaller/regional firm? Could staying at this firm lower my exit opportunities to industry practice?

    submitted by /u/brookelz
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    Differences between IFRS and GAAP for the CPA exam

    Posted: 08 May 2021 02:04 PM PDT

    Differences between IFRS and GAAP for the CPA exam

    I found this on my computer, a chart of all the difference between GAAP and IFRS for FAR. I figured this could help someone...

    https://preview.redd.it/z0sjrru3oyx61.jpg?width=996&format=pjpg&auto=webp&s=eb6d92560be43b5d3ea5de4ba20c862cb0930152

    https://preview.redd.it/2cuh2oj4oyx61.jpg?width=1003&format=pjpg&auto=webp&s=0b6fbb52b323dc5c11c7db22475e759aa2a24cc1

    https://preview.redd.it/4nbe5x15oyx61.jpg?width=988&format=pjpg&auto=webp&s=da6bb944ae738d047926d3cc6509b791beaee071

    https://preview.redd.it/sg72f6a6oyx61.jpg?width=983&format=pjpg&auto=webp&s=c029e95cd1c0c7095efeef536329b8d73a0b4707

    https://preview.redd.it/1m6i8os6oyx61.jpg?width=989&format=pjpg&auto=webp&s=6e068a4a669deb2f18f18417c58741b37b7983ab

    I attended one of Uworld Roger CPA review free webcasts about the changes to the CPA exam coming in July (highly recommended) and apparently AICPA is getting rid of IFRS all together.

    But until then I figured this will help those who are taking FAR before July.

    submitted by /u/7_Leaf_Clover
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    Guys this is how easy Accounting is. Don't let Big4 brainwash you!

    Posted: 08 May 2021 01:51 AM PDT

    Any common issues that you wish was easier/has a solution?

    Posted: 08 May 2021 07:52 PM PDT

    I'm a computer programmer and I like doing hobby projects that solve problems for people, so I wanted to ask you guys what common nuisances do you run into regularly in your accounting job that you wish was easier, could be done in less steps, not be a pain in the a**, etc.

    submitted by /u/sqzr2
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    Are 40 hours and 100k salary doable? Has anyone here achieved that?

    Posted: 08 May 2021 04:42 PM PDT

    It's an awfully difficult combo, I know.Context: I'm in university and I feel lost about my career. I considered accounting as it seemed to fit with my wants (work-life balance, good pay, enjoyable work).My Question: I want to know your thoughts, is it reasonable by the time I'm 30, or should I just embrace the fact that 40 hours is impossible with my pay expectations?

    I understand this is definitely impossible early on in a career but is it possible by the late 20s/early 30s?

    Edit: I'd love all feedback, but Canada-related feedback could be especially helpful

    submitted by /u/parzival528491
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    If you can’t make it past associate in public is the time in public a waste ? ( with cpa )

    Posted: 08 May 2021 03:42 PM PDT

    Pure noob here, help me understand EPS please.

    Posted: 08 May 2021 07:52 PM PDT

    Am I allowed to post this kind of question here? If so, then what does a 2.18 EPS mean?

    From what I understand, an EPS indicates how much money the company makes per share. It also means tells you the proportional profit attributable to you for owning 1 share.

    ^ Is this correct?

    If so, then would a 2.18 EPS mean that your 1 share in the company has produced $2.18 in net income?

    And does this mean that, depending on the company's payout ratio, a portion of the 2.18 can be paid out as dividends, and the remainder as retained earnings?

    Thank you in advance!

    Edit: also, if I own 1 share that means I generated 2.18$ in earnings right? If I own 12 shares, then I generated 2.18*12 = $26.16 in earnings, right?

    submitted by /u/BobThe_Body_Builder
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    [CAN] WSB CFE

    Posted: 08 May 2021 06:52 PM PDT

    Hi, does anyone know if there's a way to pull out of the May CFE? I'm not feeling confident about writing the exam at this moment. I know if you wish to withdrawal, you need to wait 3 days prior to the exam. Has anyone done this before? Or do you know if CPA WSB is more lenient this time because of COVID-19 and allowing people to reschedule to Sep?

    Thanks!

    submitted by /u/BaconLover604
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    Keyboard bangers and financial modelers alike, how do you maintain your wrist health?

    Posted: 08 May 2021 04:59 PM PDT

    Under 30 and feeling the aches regularly. Any answer other than "posture"?

    submitted by /u/Shfifty_Five_55
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    Summer Internship Extended

    Posted: 08 May 2021 08:43 PM PDT

    Hi could anyone offer some insight on how often an internship for a top 10 firm is extended through the last year of college post-summer interning? I didn't think this was quite common but my friends in other business fields said they all had their companies ask them to keep working remotely until graduation. Of course, you'd have to be a good performer and get along with coworkers etc. so given that, how likely do you think it would be that they ask summer interns to stay on?

    submitted by /u/taxstudent
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    Is graduation a requirement?

    Posted: 08 May 2021 08:31 PM PDT

    Hi everyone, I have a job offer lined up at a big 4, and I need 150 credits by the end of the summer to keep it. However, I'm gonna be short a class that I need to graduate from my 4-year school. I just need that one class to finish my degree and I'm taking summer classes that will get me to 150 anyway- does anyone know if you actually need the degree to start work as an associate or if it's only the 150 they need?

    submitted by /u/retardmonkeyboy
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    As a CPA, when people (who aren’t accountants) ask you what you do - do you say CPA or accountant ?

    Posted: 08 May 2021 04:10 PM PDT

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