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    Accounting Some things never change

    August 10, 2021

    Accounting Some things never change

    Some things never change

    Posted: 10 Aug 2021 07:25 AM PDT

    big if true

    Posted: 10 Aug 2021 06:42 AM PDT

    Working in Accounting

    Posted: 10 Aug 2021 02:45 PM PDT

    Inflation goes brr

    Posted: 10 Aug 2021 06:45 PM PDT

    Excel level 100

    Posted: 10 Aug 2021 09:42 AM PDT

    Alright y’all I got a confession

    Posted: 10 Aug 2021 11:56 AM PDT

    I do be creating fake invoices for 12 cents to get the statement reconciliations to match😭😭😭 I'm sorry 😭😭😭

    submitted by /u/itsajokeyall
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    When you are punk, but also have control accounts to reconcile...

    Posted: 10 Aug 2021 03:22 PM PDT

    2 down

    Posted: 10 Aug 2021 03:35 AM PDT

    I really hope schools continue to market Public Accounting heavily to newer graduates.

    Posted: 10 Aug 2021 09:16 PM PDT

    So people like me who wants to work for the government have less competition.

    submitted by /u/JourneytoZencalm
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    I just got a job offer

    Posted: 10 Aug 2021 10:00 AM PDT

    I got a job offer to another company so I now don't have to be overworked for so little money. This is huge because the new job required 1-3 years of experience but I have less than a year of experience and I'll be paid 35% more.

    Can I get a W please

    submitted by /u/major0606
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    Making one change to the spreadsheet ends up like ...

    Posted: 10 Aug 2021 11:44 AM PDT

    [CAN] Official MNP 2021 Compensation Thread

    Posted: 10 Aug 2021 05:09 PM PDT

    It sounds like raises (effective October 1) are starting to be communicated verbally to people in the offices.

    Provide in your comment:

    Location:

    Service Line:

    Old Base Salary:

    New Base Salary:

    Old Position:

    New Position:

    submitted by /u/ThrowAwayTheCPA
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    I NEED ADVICE

    Posted: 10 Aug 2021 08:43 PM PDT

    Hello Reddit,

    Long time lurker first time poster. I hope everyones day is going well!

    A little background about myself, I am a member of the big4 working in the assurance practice. I graduated with a MSA to achieve my one fifty credits have completed my first full year at the firm, have not sat for any parts of the CPA exam.

    I come to you asking for some serious advice about my future working in the B4 (please do not just say quit, looking for serious answers unless you truly feel that is the only option).

    I have found myself in a predicament. Upon joining the firm I was assigned to a fairly rough first client, the entire engagement team prior to me quit for greener pastures in industry. This left the director to scramble to put a team together of members from associate all the way to manager of people unfamiliar with the client. Then there was me who has never done audit in there life, fresh out of college looking to make a name for myself.

    I managed to do the best I could to complete the tasks thrown my way and the seniors even with there limited knowledge were very willing to answers any questions I had. We managed to complete the audit, I left with solid reviews and then I rotated off to a new client engagement that is more established and I thoroughly enjoy working on. Everything at this point in time seemed to be okay, but little did I know a storm was brewing behind me.

    As work for the first client I had started to pick back up with planning and interim both the experienced associates above me quit and have yet to be replaced. My first director left for maternal leave and a new director has just been assigned that only sees that work has not been done. Through out this, my new client that I enjoy booked all of my time. The manager on my first client asked if the senior and I if we could help with a few tasks here and there till she could find new members, but this has led to us doing the work of two clients full time.

    I think being double booked finally got to my senior and resulted in him leaving just the other week, leaving only me on the audit who has just roughly one years experience trying to keep this afloat. I decided to address this with my manager and told her that my work on my other clients is lacking and that if she truly can not find anyone she needs to negotiate my time with my current team. This resulted in her asking my current client engagement team if they could equally split my time during the week (big mistake).

    Since this splitting of time has began I have not been able to look at the work on my other engagement. I also am not able to complete a handful of the work for the hell engagement as the manager is to busy and the new director refuses to address my concerns. This has left me to try and answer questions that I do not know the answer to and only spin my wheels (I am adopting the terminology). I have done my best to leverage seniors that I have met through out my time at the firm, but with work from home I know few people here. This has also caused me to strain my relationships with the seniors I ask as I am consistently asking for help on work that is not assigned to them.

    This past weekend I broke down to my parents and they could see the stress in my eyes. I am not enjoying myself, find myself unfulfilled, and stressed as I do not feel properly coached to do the tasks at hand.

    I come to you reddit to please offer me some advice, is the writing on the wall or is there a way to properly address this?

    submitted by /u/Workbookterminator
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    EX B4 Auditor and I noticed: WFH didn't suck, long hours did...I now work remotely in industry with normal hours and my mental health improved immensely; and B4 is overrated..... I make more $$$ as an AP/AR Clerk (not including my tax shop that I actually have time for now)

    Posted: 10 Aug 2021 09:14 PM PDT

    Yup. B4 is a scam, just like many other over-hyped things in life that designed to extract your value and give it to someone more witty than you under the guise of "branding". Traditional exit ops from B4 into industry are also overrated, especially if the place you're headed to is predominantly B4 alumni.

    • In office sucks. If you think it doesn't then you likely suck...in one of two ways: You suck at your job and irl instruction will not significantly change things or you suck and need to get help (ADD is real and treatable) or friends so you can stop relying on your employer to arrange a social life for you.

    Oh...and at no point did it make sense for me to hodl B4 hopes. Partner dreams were always a cop-out for me to delay the launch of my own Accounting firm. Semi-concessions like wanting to wait until senior or manager were also cop-outs considering that I now make more than managers in my metro area (and my calculations suggested I could) with my AP/AR salary + tax shop. Context: my salary as an AP/AR clerk is larger than my A2 salary @ B4, but AP/AR salary + taxman $$$ > M1-2 in my metro area.

    • Lastly, dont settle for in-office work unless you absolutely have to. We're knowledge workers and dont need to be present physically. Tell your recruiters....remote or bust!
    submitted by /u/Thejuicyvegan
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    Thinking Out Loud: The IRS is the best place for a fresh grad to go.

    Posted: 10 Aug 2021 06:21 PM PDT

    Hear me out.

    I'm a student who's worked in PA as an intern for 8 months. I also have a B4 offer and an offer from an FLDP for a major tech company.

    After the work I've done the past several months, all of the leadership programs I've attended, and all the people I've connected with and reached out to, it's clear to me that if you ever want to become something special in the corporate world, your gonna have to sacrifice a lot of time with family, friends, and give up a lot of free time.

    Are our careers really that much more important than family? Wouldn't it be way more fulfilling to raise some little shits then slave away for an employer who would replace you in 2 seconds and forget your name the next day? Life is too freaking short.

    I feel like the IRS would actually allow me to have a family and a life as well. Here is what I'm thinking of doing.

    Start off in SBSE. Then, after maybe 3-5 years. Make a choice. Stick it out in gov for the long run and stay in SBSE, LBI, or maybe even transition into something like program management.

    Or, go solo and doing taxes and accounting for small businesses. I've heard plenty of former RAs easily bring 150k + alone in just tax season itself. Meanwhile, all of us idiots are out here working 60 hours+ year round for half of that. I've heard of small firms grossing 500k in revenue with way less effort and headache than a senior manager or partner would ever face.

    If I want the work life balance, I can stick with government. If I want to make a butt load of money, I can go solo.

    If I don't like the confrontational nature of dealing with individuals and small businesses in SBSE, I can go to LBI or Program Management.

    To be honest, I'm not excited about the B4 or the FLDP. I know they all work shit hours. And what's the end game? Gun for a director position and never have a life ever? Where do you draw the line?

    Everyone is different and maybe this is just what I value more, but man life is too short. Would I be crazy to turn down B4 and a F10 FLDP for a RA position with the IRS (I'd come in at GS 9 btw, I fulfill the experience requirement)

    Salary looks like this:

    B4: 57K (in between LCOL AND MCOL)

    RA: 61K (same location, in between LCOL AND MCOL)

    FLDP: 78k total comp and 50k stocks (VHCOL)

    Revenue agent would be GS12 by age 24 making 90k in a LCOL area. If I had to assume, after graduating FLDP I'd bet it'd be comp of 100k + and RSUs.

    Seriously, let me know what y'all think. Is my thinking unreasonable? Would I be an idiot to give up all the money from corporate in the long run? Appreciate any insight

    submitted by /u/PricewaterhouseCap
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    What are good goals to say in a 3 month evaluation?

    Posted: 10 Aug 2021 08:35 PM PDT

    I have mine a week from tomorrow. I was going to say keep learning, doing quality work that's under budget. The goal about work is a constant goal. I don't know what else to say or what would sound good

    submitted by /u/MotownMondays5
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    Time to unionize PA?

    Posted: 10 Aug 2021 06:12 AM PDT

    Hi all,

    I have been thinking about this lately but what are y'all thoughts on a union for Accountants in Public Accounting? I think this is the golden opportunity for employees to discuss this due to labor shortages. Let me know what are y'all thoughts?

    Thanks

    submitted by /u/syaldram
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    Forgot my first interviewer's name in a b4 interview. Feel awful

    Posted: 10 Aug 2021 02:13 PM PDT

    Hey everyone,

    I wanted to ask briefly how screwed I am. In my final interviews, I had an interviewer and forgot her name, and went straight into the partner interview after, and he asked who interviewed me before, and I just panicked and blanked. The interview other than that went well. Am I screwed? Be honest.

    submitted by /u/Ledgersnlines
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    Do I Need to Pay California State Income Tax if I Live in North Dakota and Work Remotely ?

    Posted: 10 Aug 2021 06:51 PM PDT

    I live in North Dakota (my home state) but work remotely for a company based in California. I don't own any property or anything other than my remote job in CA. Do I need to pay state income tax for both states? Do I need to pay California State income tax if I live in North Dakota and work remotely for a California company?

    Thanks.

    submitted by /u/acejeffery
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    3 months into full-time PA Audit, when will it start to click???

    Posted: 10 Aug 2021 07:52 PM PDT

    Hi all, I started about 3 months ago in audit at a small-mid sized local firm (about 50ish employees) and I still feel pretty damn lost. I am still getting quite a few review notes on most workpapers I do, I feel lost and overwhelmed often,and I feel like most workpapers take me far too long to complete. I have trouble understanding a lot of the stuff when it gets explained to me. I guess it's hard for me to see "the big picture" of our audits. I am geniually worried that if I don't start to get this stuff soon I am going to get fired. My anxiety has been through the roof with being worried about this crap. I am hoping someone here would know when generally all this stuff starts to click. When did things start to click for you guys?

    submitted by /u/danielcl17
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    Can you go back to school after starting full time?

    Posted: 10 Aug 2021 08:20 PM PDT

    Hi everyone - I completed my internship with a B4 and got a full time offer for next fall. I loved the team and all during my internship (ik it's summer nothing really happens but my team is really REALLY awesome), and it's a solid job that can earn money from so I really want to take it. However, I always wanted to go to grad school (to study things other than accounting) but want to save up first, but I feel like once I start working it's hard to return to academia again. I wonder if anyone had similar experiences/know anyone who had worked first and returned to school later. How did it go? Thanks!

    submitted by /u/mochiweeb07
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    5 second rant

    Posted: 10 Aug 2021 03:51 AM PDT

    This client just legit dropped like 40 unmarked, unorganized, without context docs last night and in the same breath be like: I don't understand why it's taking so long to get through this, we gave you everything you need?!?

    FML

    submitted by /u/LifePlusTax
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    We know it’s pointless to try to go above and beyond in PA audit. Is it the same in transaction advisory? (Financial due diligence)

    Posted: 10 Aug 2021 10:04 PM PDT

    In audit, it's all about keeping your head down and doing average work since you're mostly just fulfilling a compliance requirement.

    In FDD, it seems like the work is actually ad hoc and some people can do a "better" job than others depending on how much they want to…is it worth it in terms of compensation and moving up?

    submitted by /u/sbbdhdbdbdb
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    Does this count as salary?

    Posted: 10 Aug 2021 09:45 PM PDT

    Fellow bean counters!

    I just wanted to ask if anyone sums their overtime as salary? I have a mid 60's base and with overtime I usually pull in 45-50% additional in OT, somewhere between 88-93k projected this year.

    Let's say I was looking to change my role at a different organization. Would it fair to say I make about 90k, if the position I am looking at asks for my current compensation?

    Thanks in advance! :)

    submitted by /u/Tintu-Testarossa
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