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    Accounting Finally a good post on LinkedIn

    June 06, 2021

    Accounting Finally a good post on LinkedIn

    Finally a good post on LinkedIn

    Posted: 06 Jun 2021 10:39 AM PDT

    When your manager asks if you know who completely messed up the workpaper

    Posted: 06 Jun 2021 06:46 PM PDT

    2meirl4meirl

    Posted: 06 Jun 2021 07:26 AM PDT

    Me every day in public

    Posted: 06 Jun 2021 01:26 PM PDT

    Irish Exit > 2 Week Notice

    Posted: 06 Jun 2021 03:04 PM PDT

    Why is the 2 week notice the gold standard for PA?

    Your PA firm would flick you off like a flea on a dog's ass the moment they get wind of an economic downtrend (post 2008 layoffs, 2020 COVID layoffs, etc.)

    There ought to be more practitioners of the Irish Exit.

    That is, it dawns on them that you've left after two weeks of messenger being "Away" even though your computer is at your desk in the office with your chia pet, goldfish and yoga ball still there.

    The polar opposite of the 2 week notice is job abandonment.

    Walk off as a free man into the sunset.

    Anyone got stories to share on accounting folks who just walked off the job? Where ya at

    submitted by /u/Zer_oKelvin
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    Salary Expectation S1 > Industry [CAN{

    Posted: 06 Jun 2021 07:34 PM PDT

    I am almost wrapped up my first year as a senior at a B4 and was wondering what they typical jump to salary is at someone at this point. From my talks with recruiters, $80-85k is typically the range but I don't want to be selling myself short. I am also doing my MBA in addition of the CPA. Would that make any difference in terms of salary expectations.

    submitted by /u/mak_1995
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    Moving to another state without reciprocity, should I take another exam?

    Posted: 06 Jun 2021 08:51 PM PDT

    I'm licensed in Illinois and am relocating to California for personal reasons. Is it worth retaking the exam or will employers accept an out of state license?

    submitted by /u/El3anorR1gby
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    TIL you can avoid all taxes by using a debit card from an offshore bank account. Can't believe the IRS doesn't know about this!

    Posted: 06 Jun 2021 02:51 PM PDT

    Are there other lines of service in the Big 4 that aren't as demanding and stressful as Audit or Tax?

    Posted: 06 Jun 2021 04:50 PM PDT

    What are you most proud of from busy season? What's a great way you helped your clients?

    Posted: 06 Jun 2021 03:10 PM PDT

    It's the month after busy season and lots of us are on vacation, or wrapping things up, or maybe you're still buried in work. But now that we have the time to post, let's share our stories! What are you most proud of, and what are your biggest accomplishments? Did you help a client find a deduction that saved them lots of money? Did you increase the profitability of your firm? Were you working busy season at your firm for the first time, and you survived better than you thought you would?

    I work for a small business CPA firm, serving a small town in the USA. My biggest accomplishment of the 2020 tax year, and into 2021, is helping clients navigate the pandemic. My specialty is payroll and I informed all the clients about benefits they were entitled to under the CARES Act. I helped them gather documentation to qualify for the PPP loan. Some businesses didn't know about the employee retention credit, but I sent out an informative email to all the clients and some of them were able to claim it. A few sole-member S-Corporation owners came down with COVID and I informed them of paid sick leave, and that they were allowed to take it in the first place as an owner. I calculated the credits on their Form 941 despite the glitches in our payroll software and the provider being unprepared to handle the new calculations.

    I'm not a front line worker in the hospital sense, but in 2020 pretty much every accountant was a front-line economic worker.

    So how about all of you? Any stories to share?

    submitted by /u/FictionWriterCPA
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    Feel like I’m failing as a senior, am I cut out for this job?

    Posted: 06 Jun 2021 08:18 PM PDT

    Public company (not B4). Working as a senior for the last 2 months and I do not have my CPA yet. Company went through an acquisition - we were the ones bought. Most of our old management has left - including my boss. Manager role was never replaced. I've been given some of the manager's work and some of our other seniors work who quit.

    I just feel like I never know what I'm doing. Every single day I feel like I'm messing stuff up or not giving it the proper accounting treatment or critically thinking about it etc. Even simple things like rollforwards and capex spend or project cost tracking are being messed up. I honestly feel like I could be fired any day.

    How do you know if you're not cut out for accounting?

    submitted by /u/BigTunaPA
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    Caught between a rock and a hard place.

    Posted: 06 Jun 2021 05:22 PM PDT

    I work at a decently sized public accounting firm, and i've been hit with news that I won't be promoted to senior. I'm not sure if I should stick it out for a whole year of daily embarrassment or try to hop over to somewhere else. It really sucks cuz I can't think of anywhere else i'd rather work.

    I didn't deserve senior anyways though. I basically struggled the two whole years trying to pass the CPA and neglected other parts of my career. It just kinda scared me that idk anyone that has ever passed all 4 parts while at this firm working. Like literally no one, unless they already had some done. Idk if we work too much or not compared to other firms. Thankfully I got the license though. I just feel super dumb not fully realizing what I was doing.

    The whole two years of struggling and being reminded almost daily that I'm not doing enough is making me feel burnt out. I think I would love working here if I was doing great, but this whole scaring experience is making it really hard. (Ive had some other early f'd up experiences) I'm literally questioning my career path daily right now, but it might be because of all this failure I keep getting hit with. I always planned to have this career, and I didn't enter it with a plan b. It's gonna take a lot of time and success to reach escape velocity if you know what i mean, for me mentally.

    I think I trust management when they say I just need to really prove I can be a SA to get promoted. But I presume this would be a super bad look on my resume if I didn't get promoted. It's already a really bad look, right? Like, it seems like my resume is permanently tarnished right now. Everything just really sucks right now, and it's just wearing me out.

    Would love to hear some opinions.

    submitted by /u/NoLobsters
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    Don't you remember what what your mama told you about public accounting?

    Posted: 06 Jun 2021 01:26 AM PDT

    My struggle to get accounting experience.

    Posted: 06 Jun 2021 05:21 AM PDT

    I am 32 years old and i live with my parents, I have been working at a call center for a health insurance company for the past 2.5 years. I graduated with my bachelors degree in Accounting back in December 2014 and i don't have anything to show for it. Ive just done a couple tax jobs and had a tax internship. I have a lot of short term poisitions of employment and large gaps in my resume. My only recent accomplishment is in holding my currrent job down for 2.5 years. The reason why i have such gaps in resume is cause i have schizophrenia but its well treated. Well anyways i am still trying and i am studying my Accounting, its just im kind of lost and have weak motivation. First off i have autism and i work very slow and my social skills basically suck. I'm also not sure if i even want to do public accounting too. CPA exam is so grueling. I would like to do private accounting but i have zero actual accounting experience. How do we get actual accounting experience if everything requires that experience in the first place. Also is it bad that i work kind of slow, thanks.

    submitted by /u/Jumpy_Tower_1467
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    [CAN] Electives : I get 100% but everything is marked as RCs with a few Cs

    Posted: 06 Jun 2021 07:11 PM PDT

    How am I suppose pass the CFE if they want soo much depth and accuracy within a 2-hour case.

    fml

    submitted by /u/Adhesive_AssEater
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    Minimum amount of time to stay at Big 4?

    Posted: 06 Jun 2021 03:01 PM PDT

    I'm coming up on 2 years at Big 4, with senior promotion coming up in the Fall. Wondering if 2 years is a good enough minimum time to jump ship to somewhere better, or if it's better to have 3 years under my belt. I feel like I could probably stay here another year, but not likely more than that. If I'm already planning to jump ship, is there any more benefit for me to stay another year longer?

    Some days I feel confident like I could stay and become a manager and others I feel like I'm just hanging on. Feeling conflicted and wondering what people's thoughts are on how to pick the right time to leave. I don't want to leave any benefit on the table when I could just hang on a bit longer but I also don't want to stay longer if there's no benefit in doing so.

    submitted by /u/kfckingman
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    Newly graduated - insurance Accouting

    Posted: 06 Jun 2021 09:58 PM PDT

    Little background: just graduated college bachelors in Accouting last week. I've been an PA accountant for a muti billion credit union since December. We have a bunch of Insurance CUSO. Planning to bring in 2-3 insurance company on bored per year.

    Is there anything you guys recommend me to read, watch, about this stuff so I don't get out of the loops. School never showed me this stuff so anything would be greatly appreciated.

    submitted by /u/playoff1226
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    Consolidation question related to business combination resulting in a dissolution

    Posted: 06 Jun 2021 03:58 PM PDT

    Let's say that company A purchase company B which causes company B to be dissolved.

    Let's say that company A gave $2million in stock for assets that had a fair value of $2.5 million. The par value of the stock is $500,00 and thus additional paid in capital is $1,500,000.

    The catch is that company A had to pay 50k in fees to issue the new shares which would case the Additional paid in capital account to decrease right?

    Would this mean that the goodwill would now be higher because they are effectively paying 1,950,000 now instead of 2,000,000? Making the goodwill $550,000 instead of $500,000?

    Or would this just decease additional paid in capital and increase accounts payable with no effect on goodwill?

    submitted by /u/thelostgeologist
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    I’m tired of working hard and I get no benefit from it

    Posted: 06 Jun 2021 09:55 PM PDT

    Working at a top 20 Public Accounting Firm and Ive been working HARD this past 6 months. I started this first ever legit job (Staff 1) and I've been working hard (skip lunch, work later than usual, deep work all day etc) and you know what I get? "Thanks for the hard work" But then again, my teams probably dont know what I go through helping out. I realized I don't get paid enough to do all the amount of work I've been doing, on top of being stressed from being clueless some of the time. You know what Im going to start doing moving forward? Take my lunch.

    submitted by /u/Haolifornia
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    Association to Advance Collegiate Schools of Business

    Posted: 06 Jun 2021 09:21 PM PDT

    The University that I'm planning on attending has an Accounting program thats a part of the Association to Advance Collegiate Schools of Business. According to the schools website, only 2% of schools worldwide are a part of it. I'm curious if anyone knows what that is and if it's even meaningful.

    submitted by /u/Aoh03
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    Is Public Accounting Worth It?

    Posted: 06 Jun 2021 05:33 PM PDT

    I currently work in insurance and have been taking accounting classes to qualify for the CPA exam in my state. Looking back on it, I would've done what many of you have by getting an Accounting degree and going doing my time in public accounting however, I didn't do that. I see so many posts about how awful it is and it is really making me question if this is all worth it. So I guess I'm just seeing if anyone actually somewhat enjoyed it/don't regret it.

    submitted by /u/MJO0001
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    How much of a dick move is it to leave PA at this time?

    Posted: 06 Jun 2021 04:29 AM PDT

    We have our employee benefit plan season running through the summer, along with some lingering corporate audit work from busy season. I've been scheduled out through September, but plan on giving 2-3 weeks notice here soon. Will my team be mad at me for leaving you think? I don't agree with the notion there's only 2 times a year people are allowed to quit.... Thanks!

    submitted by /u/Prudent_Potato
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    New graduate at first full time accounting job but not enough work to do/resources.

    Posted: 06 Jun 2021 09:06 PM PDT

    I work at a small firm as an Accountant. I have worked at one previous job part-time as a "Junior Accountant" doing some bookkeeping. The firm I'm at right now follows a retainer fee business model and all of the accountants including myself there have their own client list that they are responsible for taxes and bookkeeping, etc. We also have individual clients who we do taxes for. I have a list of about 10 business clients right now but many of them are start ups. I just started full time a week ago and have basically gotten all of the accounting for all my retainer clients caught up to date except for a few which I am waiting for them to send me their Quickbooks files. I have run out of work that I am able to do now and am at the point where I am just waiting on my boss/clients to get back to me. Everyone else at work seems busy but I'm not and I feel super guilty and depressed just sitting there for 8 hours doing basically nothing and wondering where I even stand at this job and what I'm doing wrong. I wonder if they are not giving me more responsibilities because they think I'm not capable enough or are not willing to train me. I'm honestly dreading going to work tomorrow. Can anyone offer some advice about what I should do?

    submitted by /u/Vegetable-Airport
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