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    Accounting God bless them

    September 18, 2021

    Accounting God bless them

    God bless them

    Posted: 18 Sep 2021 01:49 PM PDT

    Why do we tolerate pizza parties?

    Posted: 18 Sep 2021 01:56 PM PDT

    We are corporate professionals. We should demand more than just pizza parties and junk food.

    This isn't grade school. We deserve fine catering

    submitted by /u/workaholic248
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    FML - I hit send on an angry email to boss when I meant to save for later to delete all the curse words...

    Posted: 18 Sep 2021 11:12 AM PDT

    I hate Outlook.

    Edit: recall has failed. FML again.

    The email without the names and title.

    What in the f$$$ing world is wrong with you? You f$$$ing idiot authorized a payment for a mother f$$$$ing extra $10k payment because you and the VP did not c$$$ f$$$ing bother to review the payment request and failed to realize that it was a mother f$$$ing duplicate! And why the f$$$ is this c$$$ f$$$er asking me about an agreement that his f$$$ing stupid a$$ signed himself? I'm f$$$ing troubled by this whole f$$$ up.

    submitted by /u/DanWessonValor
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    Just a meme...

    Posted: 18 Sep 2021 04:40 AM PDT

    Clients when they find how much preparing taxes will cost them

    Posted: 18 Sep 2021 07:02 AM PDT

    Nothing like a 6 month delayed sign-off party

    Posted: 18 Sep 2021 03:08 PM PDT

    Management Mind Tricks

    Posted: 18 Sep 2021 10:46 AM PDT

    My wife, the tax accountant

    Posted: 18 Sep 2021 04:52 AM PDT

    Just accepted a new job. Considering telling Jeff what I really think of him.

    Posted: 18 Sep 2021 08:47 AM PDT

    It's now or never.

    submitted by /u/JorhnJorhn
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    Undue influence threat

    Posted: 18 Sep 2021 11:52 AM PDT

    Why isnt a career in commercial banking popular among accounting students?

    Posted: 18 Sep 2021 06:47 PM PDT

    Like the majority of accounting students, i was influenced into thinking i should get a public accounting job (if big 4, better). Then exiting into some back office accounting role (think financial analyst, internal audit, controller, or even CFO)

    How come i never heard of commercial banking as a potential career path here? Imo (after networking with some cbankers) commercial banking sounds pretty relevant to accounting since i would be analyzing financial statements, creating ratios and some financial modelling even. Even the manager i networked with says the work is very very accounting heavy.

    submitted by /u/Streetweardeadpool
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    Internal controls surrounding inventory for distributors/wholesalers?

    Posted: 18 Sep 2021 09:00 PM PDT

    I was looking at a client who's a wholesaler, does product imports and distributions. Their inventory is material, and have stock in multiple locations, but one main location. There's very high number of physical stock in their warehouse, and some brands are high volume and very fast moving.

    When talking to management, there's no annual stocktake/cycle counts performed ever because freezing the invoicing and sales is "not viable". However, they do a "rolling stocktake" for particular brands frequently. I later found out this is only triggered when there's negative balances or major variances which happen at least once a week.

    When I tried to reperform counts on stock, it was generated from the stock valuation report which was all mixed in with trading goods, non-current assets, obsolete and aged items. Some items didn't even have locations against them because it's too fast moving, there would be constant changes and update all the time, and you just have to "know".

    When I asked about policies re obsolete/aging stock, they have none. There are no provisions, estimates or revaluation made surrounding inventory because it's "dependent on suppliers".

    I'm in shock at why the management feels there's nothing wrong with their inventory processes and controls. What internal controls do clients like this usually have around inventory for it to run effectively and efficiently?

    submitted by /u/skkyn
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    Senior To Controller. Scared shitless.

    Posted: 18 Sep 2021 08:52 PM PDT

    So I got a lucky break and went from Senior I in auditing to a controller position at a small company. I have imposter syndrome because I don't know anything about bookkeeping and I have done any actual accounting work. I have been getting through day to day and month end close just fine but now my company might be acquiring a business and I don't feel knowledgeable enough to handle this. What are some good resources for accounting? college textbooks?

    submitted by /u/wwwwwwwqeweyyytr
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    Why do professors make their test material different from what is taught in the books and in their own damn class?

    Posted: 18 Sep 2021 09:10 AM PDT

    Doesn't make any sense to me. Seems they should instruct us and test us on the same material. I'm looking at an exam after the fact right now and there is one recognizable question from our source material. It's infuriating. Ive had this same complaint with multiple professors throughout my time in the program.

    submitted by /u/DoubleZebra8922
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    Why do Accountants need to have these?

    Posted: 18 Sep 2021 04:01 PM PDT

    Accounting, internal controls and auditing related -tools and databases

    Posted: 18 Sep 2021 06:09 PM PDT

    Hi all,

    I am trying to find some tools and databases that would have sample procedures templates, business process templates, risk and control matrix's, KPI's, sample models, etc for all major accounting and finance processes- that I can use as guidance in building all of the above at my company.

    The best resource I was able to find on the internet for these things is - Knowledge Leader by Protiviti.

    Anyone else know any subscription services that have resources like this or is this the best? Anyone ever use Knowledge Leader tools/templates?

    Thanks

    submitted by /u/scottistheman123456
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    Pwc Video Interview

    Posted: 18 Sep 2021 06:07 PM PDT

    Hey guys! So I got a pre-recorded interview for summer 2022 assurance internship in Montreal and I was wondering what I can do to prepare for it. Like would you guys know what kind of questions they would ask? Thank you in advance!!

    submitted by /u/ihatelife78
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    Canada's accounting job market: saturation and the bigger picture

    Posted: 18 Sep 2021 05:54 AM PDT

    Many who choose to go into accounting in Canada will find that the market for entry-level positions is saturated.

    Let there also be no illusion that the market for newly-designated CPAs can also be saturated. That certainly was the case even less than 10 years ago!

    [Commonwealth perspective: Canada is more saturated than the UK, but a lot less so than Australia. India has yet to grow its profession to numbers seen in developed countries.]

    The bigger picture, though, is that there exist many decent-paying knowledge positions out there that, years ago, required only a business degree and some accounting experience. These positions are still being held by non-designated folks. When those folks retire during this decade, however, the positions will be back-filled by CPAs.

    As per the CPA Competency Map and CPA PERT, this isn't limited to the pure play job market of financial accounting.

    This is happening, to a great extent, in management accounting. CPAs are replacing non-CPAs in cost accounting and dedicated decision support roles. CPAs are outcompeting CFAs and others for FP&A positions, just on the basis of who can dig into the GL better. "MBA only" folks can find greener pastures elsewhere. It remains to be seen whether FPAC will be just a nice add-on for some CPAs. Meanwhile, the sub-field of KPI-driven performance measurement is still friendly to non-CPAs, though.

    Corporate finance is also a mixed bag, but one less biased towards CPAs. Treasury and other finance positions requiring actual accounting experience should see similar back-fill phenomena as FP&A. It remains to be seen whether CITP will become just a nice add-on for some CPAs. Meanwhile, will even more CPAs pivot to core jobs held by CFAs and CBVs?

    Only strategy, governance, and risk management remain similar to the US job market.

    The "accounting shortage" is being created by business people who know that today's bachelor's degree is yesterday's high school diploma, and that today's accounting designation is yesterday's business degree.

    submitted by /u/Torlek1
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    Need help advice!

    Posted: 18 Sep 2021 11:41 AM PDT

    Have you ever worked 11 hours a day where you leave work and your brain feels melted and you cant stop yawning every 5 minutes where the only way to fix it is to have a burger and a 3 stiff drinks?

    I just started a new accounting job and I was not told that I would be working 10+ hours a day and I cant get out of this - I am being paid for the overtime so the money is great.... but...

    Backround: Every day I used to go to the gym when I get out of work at 4-5pm and get a good 1-2 hour workout... This is what keeps me together through the bullshit of life and I cant say how important this is along with a good diet. Because of my work schedule and the stress this is now decimated. I am eating more food now and drinking more often..

    Is it worth it? How do you guys deal with this?

    submitted by /u/-Moonshield-
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    Don’t forget to take it easy once in a while. Life is more than money, jobs and titles.

    Posted: 18 Sep 2021 12:47 AM PDT

    Honest question. What do you do in your free time.

    Posted: 18 Sep 2021 01:20 PM PDT

    Serious replies. I am constantly bored.

    submitted by /u/Portugese_Rooster
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    Setting up a happy hour for staff/seniors only?

    Posted: 18 Sep 2021 06:48 PM PDT

    Havent really had a chance to talk with people at the office and it seems that the firm wide happy hours have way more old directors/partners than younger staff.

    Would it rub mgmt the wrong way if we made a happy hour only for those lower levels? I feel like I would be much more comfortable getting plastered with other 20 something year olds than dudes who talk about golf all day

    submitted by /u/msnbdbde
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    Getting ready for Meet the Firms

    Posted: 18 Sep 2021 06:27 PM PDT
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