• Breaking News

    Thursday, June 3, 2021

    Home Unlabelled Accounting Autosave saves lives

    Accounting Autosave saves lives

    June 03, 2021

    Accounting Autosave saves lives

    Autosave saves lives

    Posted: 03 Jun 2021 04:08 PM PDT

    I think this sums it up.

    Posted: 03 Jun 2021 06:48 AM PDT

    My reaction when accepting a similar job with a different employer

    Posted: 03 Jun 2021 05:38 PM PDT

    I am in government accounting and my supervisor just fell asleep after coming back from lunch. What should I do?

    Posted: 03 Jun 2021 12:28 PM PDT

    I have all the work completed for today. She was supposed to send me some files but before lunch she told me she hasn't received them yet. Should I wake her up? Lol or should I just chill. It's only my second week of work here, and it's just the two of us in the whole finance department lol

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

    Do you guys ever purposely avoid your coworkers when walking somewhere at work?

    Posted: 03 Jun 2021 06:19 PM PDT

    Some days man, I'm just really not feeling it

    submitted by /u/MotownMondays5
    [link] [comments]

    Betting on the Accounting Profession

    Posted: 03 Jun 2021 07:33 AM PDT

    I write this as a college student at the cusp of graduating. I always think about the future of the profession and what it'll look like. I'm betting on greater supply-deficiencies in accounting talent, and I believe greater shortages will lead to better overall working conditions for CPAs (total comp, WLB, flexibility, etc.). Here's what I base my assumptions on...

    Arguments in Support:

    1. Virtually all entities (public, private, Gov't, NFP) are already finding it difficult to fill accounting roles with the right talent. The SEC & IRS have offered grace periods for companies to complete audits/taxes because of this shortage. The staffing crises has affected other countries as well.
    2. 75% of the 660,000 CPAs today are eligible to retire (AICPA).
    3. Fewer people are sitting for the CPA exam, and that trend has continued downward for the last few years. (AICPA)
    4. Fewer students are majoring in accounting across the country. I believe many of these students are instead choosing MIS/CS majors with higher starting pay and better WLB. Gen Z's don't share the same values as baby boomers when it comes to work, and so the partnership model in accounting firms where you pay your dues over time does not appeal to them as much as it did to baby boomers.
    5. Accounting codification, laws and regulations will only become more complex with the new tax laws, more international investments, etc.
    6. The fees/tuition to sit for the CPA exam, from the 150 credit hour requirement, to the cpa prep courses and examination fees, are all very cost prohibitive.
    7. Accounting, unlike programming to a great degree, is difficult to outsource to foreign countries. While very basic low-level tasks could be automated, the vast majority of higher-level accounting work cannot be automated and it can't be done outside the US (for less expensive labor) very easily because of regulations and a lack of talent oversees that's capable of both understanding complex accounting issues and communicating back solutions effectively.
    8. There's more lucrative work just outside the traditional accounting purview now than ever before. Think M&A transactions, cyber/IT controls, advisory, FP&A, etc. These roles take talent away from the traditional tax/audit/staff accounting roles but they benefit from CPAs.

    ​

    Arguments NOT in Support:

    1. The BLS predicts accounting and auditing job growth at a meager 6-8%. While still growing at a faster rate than the average, not quite as fast as I imagine it to.

    2. Some people will argue automation/ML/AI in accounting work will keep up with attrition or lack of talent entering the workforce.

    3. This one is my opinion. I think accountants are timid and risk-averse when it comes to asking/expecting raises from a personality standpoint. Either we don't see the value we provide as much as I'd hope or we're just too risk-averse to demand higher pay, and for that reason, raises might come slower. Accountants/CPAs have all the leverage right now and we dismiss anyone that acknowledges this as being too greedy, "not putting in their time," etc. Until we get over this attitude, raises and improvements overall may not come as quickly as we'd like. While I don't personally want permanent WFM, I appreciate this new generation coming in demanding some shake-ups to a profession that has been too slow to ask for change.

    ​

    So you've got some major barriers to entry, fewer people entering the profession, and a massive chunk at the cusp of retiring while the work only gets more complicated. What are your thoughts?

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

    annoying coworker

    Posted: 03 Jun 2021 04:07 PM PDT

    Notice given

    Posted: 03 Jun 2021 05:48 AM PDT

    Figured y'all would give me some much needed encouragement but I gave my notice at my industry accounting job. Too much work, toxic work environment and just general disdain for this office made me think about the "what is it I want" sentiment my older coleauges always talk about as their near retirement.

    So after a whole lot of meditating and discussing with my family, I decided to chase my dream and move to colorado to train for the marathon! Hopefully I'm not as crazy as I feel right now but working behind this specific desk for so long has made me yearn and want to be FAR away from it. I'll be back at some other company in a few months, I'm sure, but at this point I'm too burnt out and need a legit break.

    Wish me luck y'all!

    submitted by /u/ObiWanCannoli25
    [link] [comments]

    Am I the only one? Does everyone ask you to help them with their taxes or tax questions once you tell them you’re an accounting major?

    Posted: 03 Jun 2021 04:15 PM PDT

    I've only taken one tax accounting course. I don't feel like I can answer their questions. And don't feel right about giving them advice.

    I explain I'm not a tax accountant etc. today someone told me when will I be a personal accountant.

    I have a hard time explaining the accounting field to people. What do you guys say? Does this happen to you?

    submitted by /u/Constant-Wolf-2725
    [link] [comments]

    Last day at big 4 be like...

    Posted: 03 Jun 2021 01:26 PM PDT

    PhD student seeking public accounting audit staff for academic study on working during the pandemic.

    Posted: 03 Jun 2021 08:59 AM PDT

    Hello r/accounting,

    My name is Alex Tighe, and I am a PhD student in accountancy at Bentley University. I am currently conducting research on the impacts of Covid-19 on the auditing industry. I am looking for staff auditors in the United States at one of the Global 7 accounting firms (EY, KPMG, PwC, Deloitte, RSM, Grant Thornton, BDO) who would be interested in talking about their experience in audit during the pandemic. I am hoping to interview any interested participants for an approximately 45-minute period through Zoom or a similar video conferencing software. My work on this project is purely academic in orientation. Upon completion of my study, I intend to share my findings with this subreddit.

    I would like to ensure anyone interested in participating that any information shared will be confidential and all possible identifying information will be anonymized. Only members of the research team will have access to any data collected, and at the conclusion of the project all data will be destroyed. Your privacy will be protected to the maximum extent allowable by law.

    If you are interested in participating or have any questions about the project, please reach out to me through email (atighe@bentley.edu) or through a reddit direct message. Thank you for consideration and I hope to talk soon.

    Alex Tighe Bentley University

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

    WHAT IS AUDITING ��

    Posted: 03 Jun 2021 11:30 AM PDT

    Just thought I'd share my interview experience for an auditing intern job. I prepared for the interview for a few hours the day beforehand by researching questions and stuff and thought I was prepared.

    The interview happened this morning and the second question they asked was "what is your definition of auditing"

    Me: after a 12 second pause "uhhh verifying things"

    For some reason I didn't decide to look up exactly what auditing was, I can't tell you why 🤠

    I haven't taken an auditing class yet. It is in my last semester for whatever reason. I did well on all the other questions but I think that one was important considering it's what the job is, and I goofed it.

    I also was not expecting a panel of 6 people loll. I am shy so I'm just glad I went. It was over zoom.

    Anyways, Just got done filling out my Application for jcpenney and Kohls 🙈.

    submitted by /u/Nice_Ladder_5756
    [link] [comments]

    Coach made someone else take me on as a coachee and now I’m more down than I thought possible

    Posted: 03 Jun 2021 07:47 PM PDT

    This happened to me recently and it was a big blow because I had a lot of respect for my coach and really looked up to her. On top of that I was already depressed and suicidal so now one of my mentors not wanting to mentor me just makes me feel totally worthless.

    submitted by /u/Dry-Ad637
    [link] [comments]

    Entry level accounting

    Posted: 03 Jun 2021 01:22 PM PDT

    Good day everyone,

    My frustration stems from applying for accounting positions. I graduated with an accounting degree but unfortunately my school doesn't have the connections to help me get internships at firms. Now, I can't find any positions because all the jobs want atleast one year of accounting experience. How the heck am I supposed to get accounting experience or learn QuickBooks if no one is offering entry level jobs?? The catch-22 of higher ed. They want you to come in with both experience AND education. Pulling my hair out. Apologies for the vent. 😔

    submitted by /u/AriesChick004
    [link] [comments]

    Accounting might not be for me

    Posted: 03 Jun 2021 08:27 PM PDT

    Is it really hard to get your first job in accounting or is it just me? I'm 30 years old. I've got my degree last May 2020 in Los Angeles. I have seasonal tax experience. I've been applying to different firms and businesses either as a staff accountant or entry-level bookkeeper. I can't get a job as A/P either or anything that answers the phone. I've been to many interviews but no offer. I'm still working on my CPA license, but what is the point of passing the CPA exam if they will judge you by how you answer open-ended questions during interviews? Most employers are looking for someone who can connect with people or who are fun to be with, and I can't even connect with people. I've been thinking of quitting accounting altogether.

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

    How enforced is not being able to work another job while in public?

    Posted: 03 Jun 2021 08:26 AM PDT

    My dad is willing to pay me 20k a year doing part time book keeping work. I know this probably goes against the terms of employment.

    But if I work for him on weekends and week nights. There isn't really a way for them to tell right?

    submitted by /u/throw-me-away-right-
    [link] [comments]

    Why do Finance and Accounting Firms recruit entry level or interns earlier than CS?

    Posted: 03 Jun 2021 07:45 PM PDT

    title has the question, I saw a similar question in the accounting subreddit but did not quite understand. Still do not get why accounting and finance firms recruit so earlier than other fields like CS.

    submitted by /u/Ok_Raccoon_5831
    [link] [comments]

    Tips for first (public) accounting job as a summer student? Worried I'm not learning quick enough

    Posted: 03 Jun 2021 07:33 PM PDT

    TLDR at the bottom if you don't want to read

    I started at a public firm with about 60 employees about two weeks ago, and am getting my first real work experience with accounting. Canada. My position is "accounting technician"

    I'm good in my accounting classes, but am worried that I'm not learning quickly enough on the job. I've been preparing financial statement information and tax returns, which then goes through reviewers who may return it with review notes and mistakes that need fixing, then to manager and client. It took me almost 3 days work to finish one file, sorting through paper ledger, journals, invoices, etc. The company was a sole proprietorship and involved fairly little work, but it took me three days. Verifying and updating all the accounts used by the business and performing adjusting entries based on information given by the client. With frequent help. Sorting through bank statements... working with holding companies, trying to find missing entries amid piles of info, learning that there are near endless "situations", tax processes, special scenarios, and generally a large amount of knowledge. Electronic accounting info from clients is definitely quicker though, but still time consuming and confusing at times.

    I feel overwhelmed. learning how to look through a lot of documents quickly and accurately, knowing what to look for out of so much information, learning the programs and systems used and how to use them efficiently. Sometimes I'll see something go directly against something I learned in class, and my coworker will just tell me "I know, I can't really explain. This is just the way it's done". I trust that my coworker is correct, I just am constantly left with more and more questions about exactly how and why something works like it does. I'm generally having trouble moving from a school approach to real work approach of what objective I'm trying to achieve. School felt like practicing math equations... taking information provided figuring out how to get the wanted result. This feels a lot more subjective so far, more like solving a puzzle than working through a step by step process.

    Im not totally fucked, I think I am definitely learning. But realistically, I feel like I might be at least another 1 to 1/2 months away from being able to consistently finish files by myself with minimal help.

    I have only completed my two intro accounting classes, and one intermediate accounting class. I have no family in the financial Field so there's nobody who I can really rake the brain of about to to approach the job.

    TLDR

    I started my first accounting job two weeks ago, and am feeling like I am not learning quickly enough. I still need to ask questions every 15 minutes to know what to do next. I know I will get the patterns down eventually and learn it well, but that might not be for another few months. From your experience being in my position, or as a manager of people in my position, what tips could you give me?

    Appreciate any advice!

    submitted by /u/hejwjnd9iue
    [link] [comments]

    CPA PERT [CAN]

    Posted: 03 Jun 2021 11:28 AM PDT

    I'm so upset and super worried. CPA just notified me that I am at risk of not meeting the CPA Pert requirements. I'm doing the EVR route. And I need to finish everything by November 2022. My position was too junior? I did just switch jobs to a 1 year contract position though but am not sure if this will help.

    I need help. Has anyone been in this position and what did you do? I'm not hitting the Level 2 requirements. I already passed the CFE, and if I don't make the deadline for the practical experience reporting, then I'm probably going to have to give up on accounting because there's no way I'm going through the program all over again.

    Advice please?

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

    Starting a Transfer Pricing Career — Bad Idea?

    Posted: 03 Jun 2021 09:51 PM PDT

    I'm planning on going into transfer pricing at a Big Four firm, and I've managed to keep a up with some recent developments in global tax.

    While I'm sure in the short term proposed US and OECD reforms will generate a lot of work as MNCs try to comply, I'm worried that TP will start to grow irrelevant just as I get pigeonholed into a career in it. There seems to be a lot of talk about going to formulary apportionment and generally moving away from arm's-length principles.

    If formulas take precedence, won't that mean that all the compliance work being done to show transfer prices are at arm's length will go away? It also seems that the "cool" structuring work will start to dwindle down too.

    I'm sure that a complete move away from separate accounting/transfer prices towards worldwide consolidation/formulas would take quite some time—but I'm a little concerned that I'm gonna wind up 15 years into a TP career at some point with no transferrable skills.

    More generally, I'm curious as to the perspective of people in international tax and transfer pricing. Is the traction really there to have a wholesale reform of the global tax system? What effects do you see this having on work for tax professionals?

    I know this subreddit isn't too big on questions like these, so thanks in advance for any thoughts

    submitted by /u/BourneBond
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment