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    Accounting Hello New Hires hahaha

    November 06, 2021

    Accounting Hello New Hires hahaha

    Hello New Hires hahaha

    Posted: 06 Nov 2021 07:12 PM PDT

    Will the “Great Resignation” have any impact on the public accounting field?

    Posted: 06 Nov 2021 10:20 AM PDT

    Just went to a massive manager training with firms all over the country and every person I talked to said staff retention is trash right now. No one left really in 2020, but waves have/are in 2021 and there is 0 people to hire. Even recruiting out of colleges has fallen off a cliff, as it's more average students applying instead of those who you had to wine and dine.

    My firm has also experienced all of the above. The big universities that we would get 50 applications from, we got ~5 this year and they are whatever candidates. I'm not sure if there are less people going into accounting now or people are not eager to work (pandemic or other reasons) or what's going on. We also have staff finally throwing in the towel for industry jobs that are paying 30k more when they were paying 15k more pre pandemic. Are these companies ahead of the curve and want to lock in the talent?

    If you watch the news you can't avoid this phenomenon of the "Great Resignation". Where people are done working for bad companies with poor work life balance, low wages, bad management, and basically want work to be a tool to live their life and not become their life. Public accounting seems to be an extreme of all the things people are rising up against. So what happens then to the public accounting model? Do you think firms will need to make significant changes (seems like most have for things like work from home) or is this going to be a phase for a few more months and people come crawling back to jobs?

    I think this is interesting in the sense public accounting firms are run by a generation that loathes what people are wanting now, but on the flip side if you don't change, will you become the Sears of the accounting world where you were to late to finally get with the times?

    submitted by /u/Fireworks413
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    Can’t pass the CPA exam due to flatulence.

    Posted: 06 Nov 2021 05:31 AM PDT

    I am in my first year working in public accounting while also trying to pass the CPA exams. I have been able to study enough and do very well on the practice questions but every time I sit for an exam, I fart incessantly and eventually get kicked out by the Prometric moderator. It usually starts with someone sitting next to me complaining to the moderator about my stinky farts, and, by the time I'm half way through the exam, multiple other test takers have also complained about the unbearable smell of sulfur and spoiled eggs. The moderator inevitably comes into the testing room, and ejects me. This has happened 3 times already and Prometric always refunds me and tells me to come back when I'm no longer "ill." The thing is, I'm not ill and I only fart like this when I take the exams (probably due to nervousness, too much coffee? Idk). Has anyone else gotten in trouble for 'nervous farts'? Should I see a doctor?

    submitted by /u/710mm247
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    Is it normal to not know WTF is going on as an accounting student?

    Posted: 06 Nov 2021 02:32 PM PDT

    I'm doing my undergrad in business with a concentration in accounting, and I'd like to get my CPA. I do alright in my classes, usually getting a B. With that being said, I feel like I don't know what the hell is going on half the time and I'm worried that I'll feel like the biggest imposter when I get into the work force. There's just so much information. Is this normal?

    EDIT: Thank you for your reassuring responses! Now I comfortably don't know wtf is going on :)

    submitted by /u/901320
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    Didnt take any internships in college, worked at a Wawa pumping gas while I went through college, was worried I wouldn't be able to find a job due to no experience. Just got hired part time at a local church starting at $17/hour as an accnts payable clerk and within 2 weeks they offered me full time

    Posted: 06 Nov 2021 06:43 AM PDT

    #greatresignation

    Posted: 06 Nov 2021 03:42 PM PDT

    When you show your manager the workpaper you were tasked with creating and they say “walk me through what you were thinking”

    Posted: 06 Nov 2021 02:02 PM PDT

    What made you choose accounting instead of a different career path?

    Posted: 06 Nov 2021 03:00 PM PDT

    I see a lot of people being depressed on here saying they wish they studied computer science because of the higher pay and better work life balance. But a lot of people still choose accounting regardless, so what made you choose accounting instead of a different career path?

    submitted by /u/RandomDude730
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    I’ve been contemplating making a career change

    Posted: 06 Nov 2021 11:11 AM PDT

    It’s so hard being demanded to bring pizza sauce back to a customer with all this education

    Posted: 06 Nov 2021 06:46 PM PDT

    Went to a good school, graduated top 15% of my class. Two internships. Multiple accounting jobs/projects.

    Tonight I was delivering pizzas, as I do now. At 27 years old. I'm just the driver, the order was packed up. I got to the house and I said "here is the ranch" (as the receipt said) and she says "oh.. oh no.. well you can just take that, and then you can bring me back pizza sauce like I ordered." I told her the receipt said ranch and told her I wasn't going to bring back just pizza sauce (that costs me money, time, 6 mile round trip) and I got in trouble. Told my manager "I'm not bringing her pizza sauce" and that stirred an issue. God wtf is my life.

    I've found myself between jobs and I'm huge need of income. I do have a job lined up but it doesn't start for another week. Luckily it pays quite well but it's been a struggle and I've been delivering pizzas for the past.. 3-4 weeks.

    Don't end up like me guys it sucks. Anyone else have similar stories and would your ego also be rock bottom…?

    Edit: luckily I just realized I have two jobs lined up so that's good! One starting next week and then a work your own schedule tax job in January.. so that's awesome. But until then, the credit score suffers.

    submitted by /u/CalvinKlein4u
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    I'm starting at 54k in tax, classmate is starting at 62k same firm, same office in audit.

    Posted: 06 Nov 2021 07:48 PM PDT

    I don't even know where to go with this.

    I got an offer in Big 4 Tax for 54k a year in a West-MCOL city. I negotiated for 54k, they originally offered me a range of 48k-52k since I don't have a MAcc. I accepted this offer in March 2021.

    I knew it would be less than other offers, but the sheer volume of benefits seemed to outweigh the salary for me at the time, and I liked more people there than other firms I interviewed with. Me and one other friend (Buddy, we'll call him) started out in October.

    We recently met up with some of our other friends from school who decided to join the same Big 4 firm in the city, but on the audit side. We talked to one of our friends and turns out they are starting at 62k per year starting in Jan 2022, compared to our 54k in Oct 2021. Same signing bonus for us all.

    We were recently told in a department meeting that while there would be a 'market adjustment' in December, Buddy and I would not be getting any adjustment since we 'just started'. However, partner insists that everyone will be pleasantly surprised. After the meeting, a Manager reminds us we are not qualified for bonuses until we're seniors, so probably to expect a nice gift card or something like that. When we asked when we would get a compensation bump, manager told us to expect around 3-6%. So even with a maximum bump next year (54k+3k raise for ~57k), we would STILL be under what audit is starting at.

    When Buddy reached out to some of his friends, he managed to get interviews and offers of high 60s, low 70s. (to be fair, Buddy passed all 4 CPA sections.) I asked some of my friends at different firms as well and was told with my experience and education (only 1/4 so far), the lowest offer I would get is 59k.

    Is this common in Tax vs. Audit? I know consulting/advisory typically start higher, but whenever I did my research in school, Tax was always stated to be a bit higher than audit. Do audit/tax personnel always have a such a high difference, or does it even out with experience? Is there a way to discuss this with partners? If salary can't be adjusted, how on earth do I switch to audit then? Or would I just abandon ship after one month and go to one of these other firms who would start me out higher?

    I mean, I came here for the sweet sweet benefits and the honestly rad health insurance this firm offers me, but at this point 'well-being subsidies' don't pay for my $400-per-month increase in rent. And I'd rather be making more, have okay health insurance, and have reasonable hours, instead of being slated to work 8AM-midnight for 80% of busy season for so much less than my peers.

    TLDR: Classmate in the same firm, same office but different service line is starting at 8k higher than me. Is it possible to bring this up with partners/managers and negotiate, or is it normal to have this much of a difference?

    submitted by /u/throwaway54k
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    Older student

    Posted: 06 Nov 2021 03:18 PM PDT

    At 35 working on my backhoes for Axc I keep my eye on this sub and it makes me doubt my decision.

    Maybe it's just the last few weeks but browsing this sub has made me feel like succeeding in this field is going to he torturous and difficult for someone that's not in my 20s.

    That being said I'm so sick of retail that I'm excited to just try a different field/work.

    submitted by /u/Trikdonkey
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    What is your opinion on hoteling/unassigned office seating? I recently found out about this concept. I’m starting in audit and I’m curious if this is common

    Posted: 06 Nov 2021 05:39 PM PDT

    What can I do with AA degree in accounting?

    Posted: 06 Nov 2021 05:20 PM PDT

    This spring I will be graduating with AA degree in accounting from a community College What kind of jobs can I do in the accounting field...? Don't really wanna get in student loan debt for a bachelor's.. paid out of pocket for the AA degree.

    submitted by /u/Stunning_Insurance69
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    Do state boards ever reject CPA licensure? What would cause them to do so?

    Posted: 06 Nov 2021 01:48 PM PDT

    And if they do, is that the end of it or is there anything you can do? I'm just a student but have done some stupid things in my past. Don't want to bother with the cpa if the board will just reject me anyways

    submitted by /u/pitsburgh
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    Help! Is it a dumb idea to jump ship?

    Posted: 06 Nov 2021 08:25 PM PDT

    So I'm deeply attracted to the fact that everyone jumped and getting crazy good comps. It made me wanna move as well..

    I'm 2.5yrs in public accounting, 8 months in FP&A. Current comp is 100k + 15% bonus (high COL). Team is good and I'm starting to pick things up well and getting good feedbacks.

    The only thing is that I don't wanna go back to office while my team does expect that very soon. I also tried applying senior accountant and fp&a position in mid-year and got no luck. 0 offer while applied more than 100jobs. So I'm kind of suspicious on the hype but in the mean time don't wanna miss out..

    View Poll

    submitted by /u/blindfolded2021
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    [CAN] Salary Progression

    Posted: 06 Nov 2021 09:26 AM PDT

    My wife and I are currently planning to buy a house in the near future and I am trying to figure out what my salary expectations should be. Below is my salary progression and I am in the middle of my 4th year. I have heard of people getting closer to $100k at this point. Is this something that is attainable in the near future (1-2 years). I really like this job in terms of all the work I am doing but at the same time I'm not sure if I should be planning to stay here long term if my salary is not up to par to market.

    Year 1 - $43k Year 2 - $49k Year 3 (Senior 1) - $57k Year 4 (Industry and qualified for CPA) - $85k

    submitted by /u/mak_1995
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    No experience in Accounting- wanting to be a CPA (Canada)

    Posted: 06 Nov 2021 05:32 PM PDT

    I'm 30. At 25 I graduated from Uni with a BA in Sociology. I haven't really made any headway since; I'm pretty sure I could have done my current job while in high school.

    I found myself really fascinated with accounting & am wanting to be a CPA, but I don't have the money to do prep courses (unless I get a student loan and do equivalent)

    How do I go about all this?

    submitted by /u/ironedhorsed
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    GL Question

    Posted: 06 Nov 2021 06:56 PM PDT

    Item is shipping from China . It is our property when it ships. We receive the invoice and would like to record the liability . We can't do an actual receipt because the items are not available for production . Once the items are received we will reverse the initial entry and do the receipt and make the payment . What account would you use to record the liability before actual receipt . AP is once side … what's the other . #notacpajusttryingtidothingsright🙃

    submitted by /u/Alida456
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    Should I look around for more opportunities even after signing with BDO?

    Posted: 06 Nov 2021 12:40 PM PDT

    A few months back I finished an internship with BDO and got a full time audit offer starting Jan 2023 for 56k salary, which I signed.

    With the job market like it is though, I'm wondering if I should shop around a little more even if I signed the offer. I'm not planning on staying in public long, just doing my 3-5 years and moving on. Should I look around, or just be happy with what I have?

    For reference I live in a MCOL-HCOL area.

    submitted by /u/One_Called_Carter
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    How do I set myself up to land a government position out of college?

    Posted: 06 Nov 2021 12:32 PM PDT

    Currently in the military and my mental health is on a rapid decline. I transfer to university for a major in accounting next fall and I'm looking to figure out how to improve my odds of acceptance to a government position. My mental health cannot take the rigors of public accounting (at least from all I've read about it) and I need something that can be demanding at times but won't plunge my mental health any further than it already is. Any tips or advice is greatly appreciated.

    submitted by /u/holidayhoobitywhaty
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    [CAN] All the September 2021 CFE writers, how are you doing?

    Posted: 06 Nov 2021 04:09 PM PDT

    We're about less than a month away from results, how are you guys doing? I feel so nervous and anxious every time I think about it, but my coworkers will not stop bringing it up. Catch 22 where I appreciate all the support and interest my coworkers have shown me, but also kinda wish nobody knew I wrote....

    submitted by /u/fabuloustie
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