• Breaking News

    Sunday, May 2, 2021

    Accounting Pretty much…

    Accounting Pretty much…


    Pretty much…

    Posted: 02 May 2021 11:36 AM PDT

    When you delete what you thought was a useless tab and now all you see is #REF

    Posted: 02 May 2021 05:51 AM PDT

    gotta get that cpe

    Posted: 02 May 2021 05:18 PM PDT

    What is something you wish you knew before going into accounting?

    Posted: 02 May 2021 05:02 PM PDT

    Who left Tax, and what do you do now?

    Posted: 02 May 2021 03:29 PM PDT

    Considering leaving, but looks like my best options are just other public's firms. Does work life balance ever exist for someone who went down the tax path? (6 yrs in)

    submitted by /u/LawnNoob469
    [link] [comments]

    When the manager explains something for the 3rd time and you realize you just gotta act like you understand now

    Posted: 02 May 2021 03:15 AM PDT

    Industries you went into post BIG 4?

    Posted: 02 May 2021 12:39 PM PDT

    Been working for 7 months now fully remote. Honestly still don't understand anything about audit and mostly felt robotic doing my job on a daily basis. I usually just go through the motions but do not really fully understand everything. The thing that I dislike about this job is how nitpicky everything is and that if one thing doesn't balance, everything is wrong. I'm starting to think I would like to do something different with my career. What paths did you guys end up in post auditing?

    submitted by /u/NYRCRT12345
    [link] [comments]

    You’re an accountant when you read it as EY

    Posted: 02 May 2021 02:36 PM PDT

    NYC offices reopening

    Posted: 02 May 2021 09:55 PM PDT

    Who has heard about going back into office. Comment company and reopening plan

    submitted by /u/SadB1tch_
    [link] [comments]

    Miserable at new job 4 months in

    Posted: 02 May 2021 07:47 AM PDT

    Very close in putting in my notice. I have no idea what I'm doing and have a very toxic boss. She trash talk me all the time. She is going extra miles to make me feel bad and making team stand against me.

    I had a big fight with her that she is mean to everyone and it hurts people's feelings. She shrugged her shoulder and could not care less. now I'm very scared working with her.

    Any advise? I just don't think I can do it anymore. I felt mentally abused. I had been sending the resumes but it is such a big red flag showing a short employment in resume. I have got no interviews yet. And I cannot endure one more day - I am already severely depressed.

    submitted by /u/blindfolded2021
    [link] [comments]

    (CAD) CPA pert EVR. Should I change jobs to PA firms after taking a family leave

    Posted: 02 May 2021 09:48 PM PDT

    I need some advice and support here.

    Background: I completed 2 core mods, working in industry. I have requested my supervisor/(CPA) to be my mentor but got no reply after 2 meetings and emails(over last year). So far I recorded zero month experience.

    Recently I got some bad family news. My mom get some shadow in her lung exam. (Likely early stage of cancer) she is living in Singapore taking care of my grandparents (late 80s). She was a single mother. And don't get extra help.

    I am stuck in Canada (hoping to get my 2 dose ASAP). Should I give up the asking my supervisor to support my CPA experience, and travel to care of my mom? I am very worried.

    I am doing my tax electives now and I really enjoyed it. Can I go to a midsize public firm if I was not involved in university recruitment. Does age matter?

    Please advise. Thank you

    Edit I'm 29 this year. I plan to pass CFE in 2022 September

    submitted by /u/Longjumping_Ad3977
    [link] [comments]

    Noob asking the accounting gods for help

    Posted: 02 May 2021 05:35 PM PDT

    Well hello there. I am completely new to this sub and I apologize if I violate any rule but from what I read, I think I came to the right place.

    I am currently living in Mexico but in about a year I will be moving with my fiancee in the US (Colorado).

    I am a 27 year old IP lawyer and consider myself somewhat smart (lol) but the thing is, I have no idea what I am getting into when it comes to the American finance/taxes system and since I got a year to get ready I would like some recommendations on books so I can learn the basics of the US financial system (taxes/IRS/property taxations/penalties etc).

    I feel so helpless because here in Mexico I know most of these things but I have no clue what's expecting me in the US like what kind of taxes do you guys even have, who collects it, what are the consequences of not paying and whatnot.

    Please, I need help. Thank u :c

    submitted by /u/miss-halfway
    [link] [comments]

    How do I know if I like accounting?

    Posted: 02 May 2021 07:47 PM PDT

    Hello community,

    I am a second-year student of a liberal arts degree here in Canada. I am not enjoying the content of my bs program and I am looking for other paths I could take.

    I came across the accounting program and to me it seems to be appealing. The real question is: how do I know if I would like it or not? How did you guys know you liked it?

    I think I would be a good fit as I actually enjoy monotonous (this is what someone says accounting is like) tasks, I am analytical, I actually enjoy compiling and filling forms, and gathering documents.

    I feel a bit dumb, as I got to know I don't see myself in my major (International Relations if you are wondering) at 26 (I started uni at 24 after I moved to Canada and learned English).

    Thank you in advance.

    submitted by /u/ToocTooc
    [link] [comments]

    Paying for a resume writer

    Posted: 02 May 2021 07:29 PM PDT

    Has anyone done this? Writing has never been a strong suite, stuck to numbers. I feel like shelling out 200-500 for a resume writer wouldn't be terrible if it got me out of PA. Thoughts?

    submitted by /u/StorminNorman111
    [link] [comments]

    1st Yr B4-er to Local Firm after 9 months. Is this too good to be true?: Paid overtime hours, 50+ year history but no glassdoor reviews (unhappy ppl are the loudest), and marginally higher salary, & most employees on LinkedIn are older (implies low turnover to me)

    Posted: 02 May 2021 03:12 PM PDT

    Does the WACC account for inflation already?

    Posted: 02 May 2021 04:10 PM PDT

    I have calculated a WACC using corporate bond ratings based on the company's credit rating adjusted for tax. For the equity portion, I used a 10-year government bond rate as the risk-free rate, but I'm not sure if I need to adjust for inflation or not.

    Any insight would be greatly appreciated!

    submitted by /u/Diavikk21
    [link] [comments]

    I was doing some research into ethics rules and ran across this absolutely hilarious blog post from Going Concern.

    Posted: 02 May 2021 12:14 PM PDT

    [source]

    Sex and Professional Ethics, Round 2

    by GREG KYTE

    In case you need to be caught up, the controller at Ventas and the audit partner at EY were banging. So Ventas fired their controller, and Ventas fired EY, and EY fired the audit partner.

    EY also said that putting the sausage in the ham wallet was a flagrant violation of professional standards. Over the past year, I've been teaching a CPE course on ethics called "How to Cheat Your Way to the Highest Levels of Professional Ethics." As a result, I've become intimately familiar1 with the AICPA Code of Conduct, and I don't remember it saying mattress jousting violates independence rules.

    It does, however, say that CPAs are supposed to be independent "in fact and appearance," and in my opinion no two parties appear independent when they're fucking.

    So to clarify the impact of sex on auditor independence, I wrote to the AICPA Professional Ethics Division. The first email reply that I received from them came from an AICPA Ethics Division robot.

    Thank you for contacting the AICPA Professional Ethics Division. We have received your inquiry and will respond within 2 business days.

    But what if I want to have sex now?

    Inquiries are answered in the order in which they are received.

    Which is unfortunate if someone's real ethical inquiry was answered after my smartass inquiry about stuffing the envelope with Schedule D.

    If you prefer, you can contact the Professional Ethics Division Hotline … and a Technical Manager will contact you by phone within 1 business day.

    Because that's how you turn the Ethics Hotline into a phone sex line. "Tell me again how an auditor/client orgy impairs independence, and this time talk slower."

    The second email response was maybe more interesting, not at all more enlightening, and it was sent by a human named Brandon.2

    Hi Greg,
    Thanks for the email.

    That was the first lie "Brandon" told.

    You are correct that the AICPA Code does not specifically address sex, nor does it specifically include sex as a factor in defining spousal equivalent or immediate family member.

    Those last few words were pretty creepy, Brandon.

    As in any case where a situation is not specifically addressed by a Rule or Interpretation of the Code, you would need to use the Conceptual Framework in ET Section 100-1, which uses a risk-based "threats-safeguards" approach.

    Just like most adults use a risk-based "threats-safeguards" approach to condoms.

    You identify threats to independence, evaluate the significance of the threat, and apply safeguards when possible to reduce those threats to an acceptable level. … Professional judgment is involved of course and the threats and any safeguards applied must be documented.

    Okay. Let's give it a try.

    Step No. 1: Identify the Threat

    Clearly sexual intercourse is a familiarity threat which is defined as, "Members having a close or longstanding relationship with an attest client or knowing individuals … who performed nonattest services for the client3. A sexual relationship is a close relationship, especially if you're hung like Greg Kyte.

    Step No. 2: Evaluate the Significance of the Threat

    According to the Conceptual Framework, threats are considered to be at an acceptable level if "it is not reasonable to expect that the threats would compromise professional judgment." Sex undoubtedly impairs the professional judgment of male accountants. Conversely, a female with impaired judgment may possibly have sex with a male accountant. Therefore, this threat is not at an acceptable level.

    Step No. 3: Apply Safeguards

    Abstinence is the only 100 percent effective way to prevent the loss of independence. Safeguards in the accounting profession should be modeled after those implemented in youth abstinence programs since those safeguards have proved so effective.

    Safeguard No. 1: Take the "I won't fuck clients" pledge.
    Safeguard No. 2: Provide everyone in your firm with a Purity Independence Ring to remind them of their pledge.
    Safeguard No. 3: Only do it in the butt.

    Problem solved.

    submitted by /u/SgtSilverLining
    [link] [comments]

    Do you guys know when EY is moving their Manhattan office?

    Posted: 02 May 2021 09:54 PM PDT

    Urgent advice

    Posted: 02 May 2021 05:59 PM PDT

    Hello! So I applied BSA in DLSU and now I need advice on whether I should take it still since I heard a lot of scary stories about the course. I'm an average student and i get scores of 90 and above in my subject. Also, it's really my dream to graduate BSA but I'm scared because i might just give up in the future. Pls give me advice :(

    submitted by /u/badoodiesnorlax
    [link] [comments]

    Getting into accounting with a non-accounting major.

    Posted: 02 May 2021 01:00 PM PDT

    A little about me, im a 4th year biology major atm and have decided that I would like to do accounting after I graduate at my university. I am 100% sure that accounting is a field I'd like to work in. I've done quite the research and have found there are multiple ways to go about pursuing accounting as a non-accounting major. I have no work experience and no networking and am wondering how I can get my foot in the door.

    1)After graduating and getting my bachelor's should i pursue a MAcc?

    2)Should i just finish up the remaining credits at a community college in order to fulfill my state's 150 credit requirement to sit for the CPA?

    I am open to suggestions, on what you all think would be the best path in getting my CPA, please feel free to leave suggestions.

    I am also concerned on how to get the work experience in order sit for the CPA.

    Edit: thank you so much for all the wonderful suggestions and guidance, I am grateful to have come to such a supportive and welcoming group of people!

    submitted by /u/JustYeetin123
    [link] [comments]

    Trying to calculate the COGS and non-operating expenses on an income statement

    Posted: 02 May 2021 09:20 PM PDT

    I'm new to all this, so please go easy on me. I applied for a data research job with a finance company. So, a lot of the accounting information is newer data to me or stuff I haven't touched since undergrad 5 years ago.

    I have an assignment that asks about particularly financial information for a company from December 2016 to January 1 2017. They gave me the COGS and Non Op cost numbers and asked how we got to those numbers. I thought it'd be as simple as applying the formula or it being clearly marked on the income sheet. Nothing adds up. I'm not necessarily sure how to find this information. Again, I'm new to this field. I've been digging but mostly finding massive reports that are tougher to traverse through.

    I'm mostly wondering good resources for better breakdowns of this information?

    submitted by /u/heybananaguy
    [link] [comments]

    Tax and treasury senior analyst or tax role only

    Posted: 02 May 2021 09:05 PM PDT

    Hi I'm a tax professional having experience of around 6 years in tax role ( different geographies,) with big4 incl 1 year at F500 company. Currently with Big4 corporate tax. I wanted to kove out of big4 now and move to industry. I have two offers 1. Senior Tax role at a F500 as an individual contributor and 2. Senior Tax and Treasury Analyst role with a mid size company. I'm confused as to what would be the right course. I haven't done any Treasury work before as far as my long term goals are I don't see myself as a tax head at a company rather as a controller or cfo.i have CPA degree under my belt as of now

    submitted by /u/StarSuitable
    [link] [comments]

    No comments:

    Post a Comment