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    Saturday, May 1, 2021

    Accounting Something we can all enjoy.

    Accounting Something we can all enjoy.


    Something we can all enjoy.

    Posted: 01 May 2021 05:45 PM PDT

    To the calculator

    Posted: 01 May 2021 08:36 AM PDT

    “Accounting is closer to law that it is to math.” How true is that?

    Posted: 01 May 2021 09:31 PM PDT

    Not an accountant, yet. But I've come across an internet guy who said the above quote. Is this true?

    submitted by /u/lyn-03
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    What skills do I need to have if I’m planning to take Accountancy, and how good in math do I have to be, say from 1-10?

    Posted: 01 May 2021 08:46 PM PDT

    It's a common question but I need lots of insight. I'm currently in high school, and I'm thinking of taking Accountancy as a pre-law when I enter college... any advice would be great, thank you in advance! :)

    submitted by /u/lyn-03
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    Am I Making Good Progress? - Thank you!

    Posted: 01 May 2021 05:07 PM PDT

    Graduated in 2015 with a BS in accounting. Never did public accounting. I also live in a low cost of living state.

    2 Years as a billing associate. $18/hr

    2 Years as an AR Analyst. $55K a year

    1 year so far at a Senior Accountant. $70K a year

    I currently do ALL journal entries, weekly P&L, G/L reconciliation, reconcile the G/L to the AR sub-ledger weekly and fix any discrepancy, review financial statements with VP of finance at month-end, and run various reports and do data analysis for management. Is this a good experience? What else should i ask my manager to show me? I really want to grow and become a manager one day. Thanks!!

    submitted by /u/Himaonlinestore
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    Can’t wait to unwind this weekend after a stressful week of work....

    Posted: 01 May 2021 08:42 AM PDT

    ... by doing 3 virtual inventory counts!

    submitted by /u/sippinboof
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    Quitting a Firm? Don't forget about your remaining fringe benefits!

    Posted: 01 May 2021 12:57 PM PDT

    That facet of leaving is so overlooked! My firm has a lot of covered cost for wellness I need to use before I go.

    submitted by /u/cybernewtype2
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    We definitely aren’t same bro

    Posted: 01 May 2021 06:19 AM PDT

    It seems. lot of new accountants start in public accounting. Is this by choice, or are industry/gov jobs less likely to hire new accountants?

    Posted: 01 May 2021 06:31 AM PDT

    Salary/Career path in Regional or local accounting firms?

    Posted: 01 May 2021 02:59 PM PDT

    Anyone here have any experience working in a regional or local CPA firm ie: does less than 500million revenue. What are the salary or partnership prospects compared to big 4?

    submitted by /u/ndosksksjdkdjdjd
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    Help me not fuck up this interview for a job I’m really excited about

    Posted: 01 May 2021 08:42 AM PDT

    Got a second round interview for the closest thing I have found to my "dream job" - senior financial analyst for an NHL team. Spoke to their Finance director last week and it went well enough to progress into another round obviously, but I am starting to overthink everything. I have had literally 0 exposure to finance since college.

    I have my CPA and have worked in audit for several years and have some exposure to professional sports (performed a nonattest service for a minor league team of a different sport) but not in a finance-related (or even adjacent) capacity.

    Trying to figure out how to swing things in my favor and demonstrate how my audit experience aligns with the job description and I am blanking. Feeling like I'm in over my head and am worried I'll make a fool of myself.

    I think the greatest source of my anxiety comes from the fact that I will be speaking 1:1 with the team's CFO, who has been working in executive-level roles in pro sports for like 30 years. Worried he will know I am a fraud from the jump.

    submitted by /u/Space_Opposite
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    People who are working right now on a Saturday, how’s life?

    Posted: 01 May 2021 10:33 AM PDT

    IYO, how important is holding a leadership role in getting an internship/full-time offer?

    Posted: 01 May 2021 10:38 PM PDT

    IYO, how important is holding a leadership role in getting an internship/full-time offer?

    If you get invited to the interviews, does that mean it's all about your personality + behavioral + fit afterward? or Do they still look at ur resume to see if you held leadership roles and so on?

    submitted by /u/inzhew
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    Hi all, my husband wanted to know what the hours were like in Consulting. Any clue?

    Posted: 01 May 2021 10:17 PM PDT

    Hello, everyone, Ive never posted to this subreddit before, so sorry if Im not posting properly. My husband (20) is planning on going into consulting at the Big Four. He's curious and wondering how long it would take for him to make manager if he works exceptionally well, and how many hours he might work if he were to get there. Thank you so much for any and all responses :)

    submitted by /u/08310110
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    Interest capitalization question

    Posted: 01 May 2021 10:09 PM PDT

    I am doing a sfas 34 calculation for a real estate asset. The person who actually knew how to do this quit so I am trying not to mess it up. The loan for the development of the land had a 12% interest rate and then just last year, the lender brought the interest down to 2%. What interest rate do I use for the calculation on how much interest I can capitalize. One person said market rate since the interest is so low, another said current interest rate, and another said average. Please help! Thanks :)

    submitted by /u/CourageAndControl
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    Should I start an accounting internship this summer if I've only taken one accounting course?

    Posted: 01 May 2021 06:10 PM PDT

    I am planning to become a CPA in the way future... I'm in college, and I've only taken one course, Accounting 1A (Financial Accounting I). I'm also in Econ 1.

    Is this enough to start looking for an internship I can do this summer? Why or why not? What should I expect in an internship?

    submitted by /u/sweet_royale
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    Help with hours anxiety?

    Posted: 01 May 2021 02:21 PM PDT

    I started a new job three weeks ago. I've been a little slower at some jobs. It caused one client to go I've budgeted hours. They told me for the future to ask how long the task should take (I don't have any time budgets yet) and if I have difficulty to ask for help. I keep worrying I'm gonna get fired for taking to long . Need some advice

    submitted by /u/MotownMondays5
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    Stepping down from Financial Controller job

    Posted: 01 May 2021 05:02 AM PDT

    Hi guys,

    perpspective needed

    I am 33 kinda new in the profession with 8 years' experience, the 5 of them I enjoyed as an accountant working in a corporate environment, however 3 years ago accepted a Financial controller role in a startup and the downfall started.

    For the last 3 years I have changed 3 big start-ups (scale ups) in the financial controller positions, all of them suffering from legacy issues and enormous mess in the books, but they also the board didn't want to invest to clear up the mess.

    The one company went bankrupt after I left, the other took the downturn and got sold and the one I am now I am struggling to keep sane myself, as they require new projects when I am trying to fix the books of previous years and an invoice backlog full of credit notes and mess, also onboarding new accountants that are not very competent in my team as we hire with low budget - low experienced individuals. They offered my training budget I enrolled for CMA that I never finished as my workdays became so intense and working overtimes for couple years, left no energy for studying.

    I don't know what to do anymore; I work 50hr weeks for 2 years now and I miss the structure that I had as an accountant; I knew my tasks and where my responsibility started and ended, as a controller feels like I am responsible for the incompetency of the entire company to understand business and finance. Thinking trying again corporate but I am afraid I have been left behind with spending 3 years explaining the basics and what is a cash flow forecast to clueless start up directors and founders.It really has taken a toll on my mental health.

    Anyone had similar experience and how to get out of this circle.

    submitted by /u/Fil_the_Dude
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    Will I hate FR roles in industry?

    Posted: 01 May 2021 05:55 PM PDT

    If I don't like audit, I could care less if the audit fails and the audit doesn't get signed off, I could care less if the financial statements are misstated.

    I know this sounds like I hate FR, but did anyone leave public practice to go to industry in an FR role who had similar reservations about audit but ended up liking FR in industry?

    submitted by /u/tonnyymonntanna
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    Schedule help!

    Posted: 01 May 2021 09:40 PM PDT

    Hey r/accounting I am a current running start student here in Washington state and I have changed my (perspective) major in my last quarter of Junior year in my community college. I have a current college GPA of 3.66 with 45 quarterly credits. I was previously pre-nursing with almost all my prereqs completed and decided to switch to an accounting degree. This is where I am stuck, I am planning to apply to central Washington university for their bachelor of science in accounting. However, now I am behind. Since I had a whole year and a half of nursing prereqs I am one year behind with my accounting degree. I have made a schedule of what my last two years at Central Washington would be (as by the time I graduate high school and apply to universities I would have 90 quarter credits). I am also confused about the whole 150-semester credit/ 225 quarterly credits CPA requirement. CWU has a certificate that supposedly allows students to be qualified for the CPA exams however it is only 18 credits. This will only bring my total up to 200 quarterly credits. would I still need to get a master's or is there a faster way to graduate qualified to take the CPA exams. Should I go for a 3rd year to get the last 43 credits, which would be 2 quarters with 4 classes each? Or do you think I can fit them in my current schedule? I would appreciate all the feedback and help! I am worried that the workload will be too much so let me know what you guys think.

    1st year:

    Fall quarter:

    ACCT 252- Managerial Accounting, 5 credits

    BUS102-Business computer skills, 5 credits

    ECON 130- Foundations of Business Analytics 5 credits

    BUS 221- Introduction to Business Statistics 5 credits

    total quarterly credits: 20

    winter quarter:

    ACCT 350- Intermediate Accounting 1, 5 credits

    MGT 382- Principles of management, 5 credits

    SCM 310- Supply chain management, 5 credits

    total quarterly credits: 15

    spring quarter

    ACCT 351- Intermediate Accounting 2, 5 credits

    ACCT 455- Accounting Information systems, 5 credits

    MKT 362- Essential Marketing Concepts, 5 credits

    total quarterly credits: 15 credits

    summer: Internship

    2nd year:

    Fall quarter

    ACCT 352- Intermediate Accounting 3, 5 credits

    FIN 370-Introductory Financial management, 5 credits

    ACCT 460-Auditing, 5 credits

    total quarterly credits: 15

    winter quarter

    ACCT 305- Cost accounting, 5 credits

    COM 301- Public speaking for business and organization, 2 credits

    ENG 311-Business writing, 3 credits

    Accounting elective 5 credit

    total quarterly credits: 15

    spring quarter:

    ACCT 340- Income tax accounting 1, 5 credits

    BUS 489-AACSB assessment, 2 credits

    MGT 489- strategic management, 5 credits

    total quarterly credits: 12 credits

    submitted by /u/Ban_nie
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    Is this how Public be?

    Posted: 01 May 2021 09:35 PM PDT

    If the IRS sends me a 1042-S with a net income of 0$ and a net tax withheld of 0$ .... what do I do? Do I I even need to file?

    Posted: 01 May 2021 09:34 PM PDT

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