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    Tuesday, November 30, 2021

    Home Unlabelled Accounting And the mass exodus of seniors and junior managers continues😂

    Accounting And the mass exodus of seniors and junior managers continues😂

    November 30, 2021

    Accounting And the mass exodus of seniors and junior managers continues��

    And the mass exodus of seniors and junior managers continues��

    Posted: 30 Nov 2021 12:10 PM PST

    Reddit, Inc. hiring Sr. Manager, Finance in United States

    Posted: 30 Nov 2021 05:51 AM PST

    I don't work for Reddit, but saw this on LinkedIn and thought it was funny.

    Do you think shitposting on r/accounting would help or hurt an application?

    Check out this job from Reddit, Inc. https://www.linkedin.com/jobs/view/2764618129/

    submitted by /u/artrabbit05
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    Leaving in December burning bridges?

    Posted: 30 Nov 2021 06:13 AM PST

    Think it'd be taboo to leave in December right before busy season?

    submitted by /u/pm_me_gaap
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    It's ok to fuck up

    Posted: 29 Nov 2021 04:45 PM PST

    I'm a Senior and I fucked up today. I recorded an audit adjustment incorrectly. I fat fingered it. We got the drafts, trial balance, adjustments, and rep letter signed. I missed it. My manager missed it. The client caught it. It's embarrassing. It's egregious. It's also inexcusable. I'm probably going to get yelled, belittled, and harassed by the manager tomorrow. I am overworked and underpaid. Not excuse for fucking up. But it's ok. It's just a JOB (one I like albeit). But it's not life. If my career at the firm is in jeopardy. I can move to a different firm (for probb more $).

    Thanks for this space to vent. I needed to verbally describe how I'm going to try to get past this absolutely shity day.

    submitted by /u/Practical_Design8299
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    First-year staff being put on multiple audits alone -- need advice.

    Posted: 30 Nov 2021 08:10 AM PST

    I'm a first-year staff with only 10 months of experience and I am being put on several audits by myself to do all of the work, client contact -- basically everything with minimal/no supervision by the manager. These audits are coming from another office where there's a very high turnover in staff. The manager on them is very busy and unavailable, which means I am left to do the audits by myself. Right now there are 3-4 different audits I am on where I am working alone and expected to complete nearly all of it.

    I had PTO approved several months ago for this week and I will be gone for a week straight, so these audits will not be worked on while I am gone and the deadline is in 2 weeks. I feel very crappy, does anyone have advice? Is this normal for public accounting, or is something wrong here? What do I do?

    submitted by /u/Old-Sun-1183
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    Not working at work: Can a license be lost over the ethics of time theft?

    Posted: 30 Nov 2021 10:52 AM PST

    🤔🤔🤔

    submitted by /u/TheBannedCPA
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    Would I regret switching from tax to staff accounting?

    Posted: 30 Nov 2021 08:44 AM PST

    Trying to figure out if I want to get a staff accounting job instead. I don't particularly dislike tax, but I'm wondering what life would be like if I instead jumped over to staff accounting. Anyone do this and regret it?

    I've spent 3 hrs in public at a national firm.

    submitted by /u/OliveDependent
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    Just came across this gem on IG LMAOOOO

    Posted: 29 Nov 2021 11:10 PM PST

    You can make a lot of money this busy season if you're an audit senior open to contract work. $140/hour is the highest I've seen.

    Posted: 30 Nov 2021 08:20 AM PST

    Any other accountants in the marijuana industry on here?

    Posted: 30 Nov 2021 10:43 AM PST

    I wonder what my excel screen time is

    Posted: 29 Nov 2021 07:15 PM PST

    Giving partners gifts

    Posted: 30 Nov 2021 02:00 PM PST

    Got an email from admin today saying staff needs to pitch in 20 bucks each for partner gifts. Don't those sleezeballs make enough money off me?!

    submitted by /u/Unhappy_Mind_738
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    Suffering from WFH burnout

    Posted: 30 Nov 2021 01:49 PM PST

    Basically the title, working from home I'm burning out so hard. My senior quit a month ago and now basically nobody supervises me so I pretty much spend half my day on tiktok or Reddit or daydreaming. Part of my team goes to the office like once every couple of weeks and on those days I'm finally back to normal productivity because even though my boss doesn't come in, at least there's other people in my immediate vicinity so I have accountability to not zone out or go on my phone. I tried going to the office on additional days but without the team there it's not much different from WFH. I clearly was not cutout for going into a workforce that looks like this, I was meant for regular office life with everyone there looking over your shoulder. I'm just super frustrated and I hope that once busy season starts that'll give me the kick in the ass I need to get my shit together but I'm worried that it'll stay the same and I'll just fall behind like crazy. Any advice?

    submitted by /u/DisproportionateDime
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    Wrote 2 nested if statements all by myself just now BANG BANG

    Posted: 30 Nov 2021 09:01 AM PST

    That might seem dumb to a lot of you but my excel skills are absolute ass rn and I'm kinda proud of myself. Baby steps, people, baby steps

    submitted by /u/HalfwaySandwich1
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    Where did you go to school? How important is the college you attend?

    Posted: 30 Nov 2021 09:42 AM PST

    I am in my mid thirties and about to apply to schools. I am in California. I am looking at CSU and UC but was wondering what people think of programs such as WGU? I have your typical mid thirties bills so cost is a factor. I would prefer to take courses online as I work full time and TA part time for my local community colleges accounting department. Goal is to be DOF for hospitality group in the future. TYIA

    Edit: I would appreciate any input on whether to major in accounting or major in finance and minor in acct. what did you do?

    submitted by /u/SpitzFUEGO1878
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    Once you get your CPA license issued:

    Posted: 29 Nov 2021 08:51 AM PST

    Behind on work as a first year

    Posted: 30 Nov 2021 01:52 PM PST

    I am a first year in big 4 who started 2 months ago and I'm on my first audit engagement that I started 1 week ago. The client has a 9/30 year end and the team has me and one senior.

    I was given a list of workpapers I need to complete over the next 2 weeks.

    And frankly, I'm lost. I have a billion questions I need to ask with every workpaper and I can't rely on PY wps because a lot of things have changed..

    I am feeling super overwhelmed. I definitely won't be able to finish the tasks I'm given by the end of next week. I live in Canada and I have my core 1 exam in 2 weeks, which means I can't work crazy hours to compensate for my lack of knowledge.

    What do I do? Contact my manager and come clean that I qm struggling to finish my work?

    submitted by /u/Patient_Panda_6531
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    Let’s say you’re a potential external hire to PwC as experience staff (deals). Any point in negotiating starting salary (maybe just counter with ~5k more), since they use a cohort model? Better off negotiating signing bonus?

    Posted: 30 Nov 2021 01:44 PM PST

    My firm is in a crisis and I feel so great

    Posted: 29 Nov 2021 07:55 PM PST

    My firm (audit Big4 - not based in the US) have been under a severe staff shortage, and it's getting worse day by day. It's only interim but 30% of new joiners have left, and about 20% second year staff (including myself) also left. Many people I asked said they are too suffered and tired and would leave any moment now. At this rate when peak season comes there could be as low as 50% of staff remaining.

    A newly promoted manager (who was a senior I worked with last season) asked me today if I can help her on an engagement after I left and she will charge overtime and give it to me - an offer I've never heard before. Yesterday a director also arranged a meeting with new joiners to remind them of the goals, opportunities, etc. But most importantly for them not to quit anymore.

    We have only made it into interim and the amount of work is unreal: most of seniors and staff have not had any 6 hours of sleep for so long. Some 2nd-year staff are even asked to be in charge of engagements. Because of the pandemic we can't go to client's site, but partners and managers still ask for the same quality of work. I don't know the consensus on this sub about wfh impact on audit quality, but for me it's just not the same. It's just too damn tiring to have to call customers and inquire for each issue, especially when the issue is too complex or client just won't cooperate.

    It may be wrong to feel like I do right now, but it just feels so good to see the firm taking a big hit, and I hope we can see some changes soon. (Or at least these stories could appear on the news so that people could know what the living hell PA actually is)

    submitted by /u/Euphory_98
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    Anyone willing to let me give them an interview? It’s for a college business project

    Posted: 30 Nov 2021 02:58 PM PST

    Hi everyone,

    So I'm a college junior, who's pursuing a career in accounting. As a result, for one of my classes, I have to conduct a informational interview and record the interviewees responses. Would anyone who works in accounting be willing to take 20-30 mins to answer some questions?

    Honestly, the specific career field of accounting doesn't matter but I have hope on someday working in forensic accounting or Tax for big 4, so anyone who works in those fields is definitely a plus! Normally I would ask my mentor, but because the interview has to be with someone I don't have a personal connection with I'm outta luck.

    Thank you so much to whomever takes the time to let me interview them!

    submitted by /u/DoodleBobWon
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    Firms offshoring

    Posted: 30 Nov 2021 03:57 PM PST

    Recently got word my midsized firm will offshore some staff/senior work to India. They will be on US EST and apparently have at least 2 years experience. Rumor has it their labor will be 30% cheaper than current staff/senior levels here. As a newly hired staff, am I screwed? Don't know why they'd hang on to my type when they can apparently get the work done cheaper there. Any one else experience something similar? Thoughts are appreciated

    submitted by /u/JohnWallSt069
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    Why is India shared services so bad

    Posted: 30 Nov 2021 10:44 AM PST

    Seriously like wtf? I spend half my day or more fixing their shit from the night before and on top of it I T-up everything so that a high schooler could do it, and take 12AM calls to walk them through it.

    Open it up the next day and it's all hard coded, external links and pivots, highlights all over the fucking place, an email saying it was too much work and to reconsider even though there have been 5 discussions on why it needs done the way it's being requested, and half the time the work done wasn't requested and the requested work was never touched. By the time your done reviewing, fixing, and taking their calls you might as well have just done the work yourself and you wouldn't be behind.

    Shared services in India have been a thing for a few years now and it's not paying dividends like originally thought. Anyone have any idea how much Big4 is paying in overhead for this shit? I seriously wonder if it's just more cost efficient to just hire a few more people than have a whole fucking service center with their thumbs up their ass all night.

    submitted by /u/George_Seeers
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    F500 Companies that still do bank reconciliations in excel?

    Posted: 30 Nov 2021 08:37 AM PST

    This question may have been posted so I apologize, but is it normal for a f500 company to do their bank reconciliations in excel rather than with their ERP software? I only have a few years of industry experience but this just seems odd that a company of this size would still use excel for bank recon functions. Obviously excel is still a valuable tool no matter that size of the company but seems like such a manual process when using excel for bank recs. Would just like to hear other fellow accountants thoughts on this, thanks!

    submitted by /u/Yendor00
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    Forensic accounting?

    Posted: 30 Nov 2021 11:23 AM PST

    I was wondering if anyone could explain to me what forensic accounting is? Also why did you make the choice to go into forensic accounting? I am taking my first accounting class this quarter, and we have just barely skimmed the surface of accounting, but there was a small section in our book about it and it sparked my curiosity! Thank you :)

    submitted by /u/FeistyNoodle
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    How to get a tax credit for foreign tax on dividends? (TurboTax)

    Posted: 30 Nov 2021 03:06 PM PST

    Hello everyone,

    I am a student minoring in accounting and I need to do a tax return as a project. I was wondering how can I get a tax credit for the foreign tax that was paid on dividends using the software TurboTax. I can't find a place where I can deduct this tax...

    Thank you all in advance!

    submitted by /u/kabanto
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