/r/Accounting

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Primarily for accountants and aspiring accountants to learn about and discuss their career choice. Advice and questions welcome.

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/r/Accounting

1,085,916 Subscribers

0

Hi, Need tulong sa acads! hehe

Sino po rito ang nagtra-trabaho sa accounting industry, banking industry or any industry na related sa business na pwede po tanungin?

If nagwo-work sa mga nasabing industry, ano po ang pinakamalaking problemang kinaharap niyo sa company (inside or outside) na common or uncommon? Anong solusyon ang nais niyong masolusyunan ng problema?

Looking forward po sa answer niyo! Huhu badly needed lang po šŸ˜­ For educ purposes lang po! Thanks :)

0 Comments
2025/02/01
22:39 UTC

10

Whatā€™s wrong with the job market?

This is by far the most difficult job market Iā€™ve ever experienced. Not sure whatā€™s going on but employers/interviewers are displaying odd/unprofessional behavior and I thought Iā€™d share some of my experiences. Iā€™m an experienced accountant with a masters and CPA and no luck finding a job. Feel free to share your stories too. Enjoy!

  1. Submitted probably over 1000 apps (industry, public, you name it, even if I donā€™t have the experience), heard back from about 30 employers, made it past the HR screening in probably only 12 (what?).

  2. Ghosted after final interview by probably more than half. Including the ones that asking me to interview on site.

  3. I would say more than 40% of the jobs I get rejected/ghosted after interviewing end up getting re-posted on job boards within a week up to few months.

  4. I went through a long interviewing process for a government role. Two months later Iā€™m informed that no candidate was selected and that if Iā€™m still interested the job will be posted again in two weeks.

  5. One employer asked me to take an accounting assessment after initial interview. The assessment consisted of questions very similar to what I saw on the CPA exams but with probably 20% of the time. Didnā€™t get to answer most of them. Knew they werenā€™t going to reach out. They did reach out and invited me to final interview on site. Was hit with three more exercises that I needed to solve and present during final interview. Couldnā€™t solve one of them (thought it was specific to their organization).

  6. Had one employer send me 30 questions (about resume and general) to prepare for a HR phone screen. They call and say the questions are for the hiring manager and are not needed for the screen and ask me to email them the answers. Screen lasted a minute and half. Never heard back.

  7. Had a $20m budget employer ask if I have experience in $100m+ companies.

  8. Interviewed for a replacement for someone who was about to leave. Next day Iā€™m informed that the person decided to stay.

  9. Had a final interview with accounting team. One of the staff I was supposed to supervise claims that the commute will be too difficult for me. I donā€™t get the job because they think commute is difficult.

  10. While discussing my experience, had a recruiter argue with me about accounting-related items that they have no clue about.

  11. Had a recruiter downplay my experience/background.

  12. Had a recruiter insist that I tell them why I was looking for a job even after I disabled the open-to-work on LinkedIn. They wanted to know ā€œwhat I have been doing ever sinceā€.

  13. Had a final on site interview with accounting/HR. HR insists that I tell them what went wrong at a former job and what was wrong with their management that led me to leave.

  14. Had a final interview and was asked an ethical question and when I answer, they go deeper and ask if I get resistance. They probably went deeper 3 or 4 times to see ā€œhow I would respond to the situationā€. Fishy.

  15. Had one interviewer ā€œnot to sound weirdā€ but ask about my age.

  16. Lastly, no one seems serious while interviewing. It feels like everyone is just interviewing because they have to and isnā€™t really hiring. Majority of interviews in my experience seemed to lack self-esteem.

10 Comments
2025/02/01
22:18 UTC

1

Anyone here work in the finance department for the band administration of a First Nation in Canada?

What accounting system do you use and if you could switch what would you switch to?

0 Comments
2025/02/01
22:15 UTC

1

Finance & Accounting Careers: What Do You REALLY Need?

What entry-level jobs are a good springboard or starting? Or what corporations and organizations should I possibly avoid or seek?

1 Comment
2025/02/01
22:12 UTC

1

Homework Question: Rivers received $18,000 cash for 12 monthly tours to take place evenly from September of the current year to August of next year. The total amount collected on September 1 of this year was credited to Service Revenue.

I have the answer. 18,000 * 8/12 = 12,000. But I don't understand why its 8 cash months that elapsed. How do I find that out?

5 Comments
2025/02/01
22:05 UTC

1

Anyone works at CBIZā€™s advisory practice?

Any insights you could provide?

0 Comments
2025/02/01
21:48 UTC

76

Abolish the K2/K3

Any petitions out there to abolish the K2/K3? Trump should be looking into this rather than establishing the External Revenue Service and tariffs. Thoughts?

19 Comments
2025/02/01
21:43 UTC

1

What are some ways I can get experience before I graduate and join the workforce?

Iā€™m sophomore in college going for a bachelors in accounting. What are some ways I can gain experience?

As of right now, I have two ideas.

  1. Iā€™ve been a long time volunteer at my local food bank. (7 years). And I could probably do something there.

  2. I could help with the financial stuff at my local church. Itā€™s a larger church. (300 people) and their financials are decently complex. The woman whoā€™s over it right now is a CPA and I feel like I could learn some stuff from her.

Any other ideas?

0 Comments
2025/02/01
21:37 UTC

1

Study Help Please!

Without getting into the dirty details, Iā€™m a federal employee (not in a finance/accounting position though) and fear I may be on the chopping block. I actually finished an accounting degree last May, but never made plans to take the CPA or CMA exam because my position was thought to be stable and it wouldnā€™t have provided any career advancement. But, here we are, and Iā€™m looking for a contingency plan. While my interests lean more toward the managerial side, the area I live in provides more CPA opportunities and Iā€™m not opposed. Can you all offer any recommendations for study programs? Something with lots of practical practice. Online or books are fine. Itā€™s been less than a year, but Iā€™m feeling pretty rusty all of a sudden as I look through my books.

0 Comments
2025/02/01
21:17 UTC

1

Building out Accounting Department

Hi everyone, throwaway account.

Been applying to accounting positions and interviewed for a role with a professional service firm that is looking to bring their accounting department in house. Currently is outsourced to a consulting firm. This position would be responsible for establishing the accounting department and running the accounting. Eventually the plan would be to bring in someone to assist with transactional activity.

I'm still gathering details on transactional activity volumes, scope of everything that will be brought in house, and complexity of the firm.

Does anyone have experience being a one person accounting department? My main concern is what kind of work life balance I'd be walking into. I have communicated multiple times that work life balance is important to me (I understand there will be times where I will need to work more).

What red flags should I be looking for in general?

Any advice/insight would be greatly appreciated! Thank you!

0 Comments
2025/02/01
20:54 UTC

4

How is the accounting job market in 2025?

Iā€™m considering getting a Western Governors University accounting bachelors degree. I have A couple years of low level accounting experience at a no name recognition tiny LLC. I wonā€™t have a CPA. How hard would it be to get a job for over $30 per hour? How competitive is the job market? I was considering tech but it seems like massive layoffs and outsourcing have really impacted the job market and now it seems very hard to get a tech job. Howā€™s accounting though?

5 Comments
2025/02/01
20:52 UTC

1

What is the transition from Public when you do individual taxes?

Iā€™ve been in public accounting 10 years and am 1 promotion away from partner. Donā€™t think I can do this profession another 25-30 years. Currently on private client service side primarily doing 1040s. What are my options outside of public accounting? Would like to leverage my current experience to get a similar or higher paying job with less stress.

1 Comment
2025/02/01
20:45 UTC

1

CPA 150 Credits for DMV

Good Afternoon Folks,

I am currently looking into ways to get the remaining 30 or so credits I need to sit for the CPA exam in DC (MD or VA).

I am having a hard time locating what programs or schools are approved by these State Boards. Is there a list of these programs or schools?

Some of the programs I am interested in are: WGU (cheapest masters option?) UMGC

If there is a community college that I can get this done cheaper and quicker, that would be appreciated.

Thanks!

0 Comments
2025/02/01
20:26 UTC

1

Need Advice on Applying for Accounting Jobs if Laid off by Feds

I work for one of the targeted Federal agencies that will likely lay off accountants. I worked for public accounting as a manager at a small firm 3 years ago before I left to join the federal government. When I was in public I did a combination of audit and tax. It was a small firm of 6 people. Company sizes were small business with up to 10 mil in revenue. They ranged form real estate to manufacturers to service companies. I kind of was a generalist. Maybe a dumb question but trying to figure out how to get a job in this environment. I got my last public job through networking but it took a while. Worried i will be laid off soon without any support but unemployment. Any advice on how to apply for jobs in public these days?

0 Comments
2025/02/01
20:21 UTC

1

Should I Pursue My U.S. CPA via a Masterā€™s or Get My Canadian CPA Through Work?

Iā€™m torn between two CPA paths and would love some advice.

Hereā€™s my background:

  • I have public accounting experience from top 10 firms in Canada.
  • I also have experience as a product analyst in fintech and as a financial analyst in government.
  • I recently got accepted into a U.S. masterā€™s program that would qualify me for the U.S. CPA.
  • However, Iā€™m returning to my old firm in aĀ pre-approved CPA roleĀ to get my Canadian CPA faster.

My main dilemma:

  • TheĀ U.S. CPA exams are quickerĀ (I could finish in ~6-12 months), but getting the required work experience for licensing might be trickier since my experience is solely in Canada.
  • TheĀ Canadian CPA takes longerĀ (2+ years), but if I do it through a pre-approved firm, Iā€™ll get licensed without any hurdles.

My career goals:

  • I want to work inĀ public accounting long-termĀ and keep my options open internationally.
  • Iā€™m also considering working in the U.S. in the future.

What would you do in my situation?

0 Comments
2025/02/01
20:20 UTC

0

Is an LLC the best structure for a personal business?

I want to set up a company so that I can invest in my own creative projects and also reduce my tax liability from my current income.

Is an LLC the best structure for this purpose? I want to be able to invest in equipment and also hire assistants.

And as far as line of business itā€™s a creative studio.

Thoughts?

9 Comments
2025/02/01
19:59 UTC

30

Quit because you don't like your boss? What was the breaking point? Stories Please

If you have ever quit a job because you simply didn't like, or want to work for your boss anymore, what was the breaking point or series of events that lead you to quit? (I saw the post yesterday about the OP hating their boss and it got me thinking)

For me (industry, not public), it was the flurry of emails he would send the team every Sunday (literally, every Sunday year round even if he was on PTO) between 2-4 pm with "things that can wait until Monday" yet there was no way they could be done on time for Monday. This of course meant you would need to log in on Sunday and either get them all done, or at least get halfway through them so you would have time to get them done on Monday and avoid being yelled at. Or listening to him admonish a team member for minor mistakes, mistakes he himself did not catch after reviewing a workbook/reconciliation/entry/report and were brought to his attention by the person who made the mistake, corrected and re-submitted with a note about the mistake. Or constantly feeding bullsh*t to junior staff about how he will raise them up/mentor them and then never following through at all. Or establishing deadlines for deliverables only for him to come back and completely forget about the day and/or time agreed to and him getting annoyed or mad that things weren't done faster.

What are yours?

31 Comments
2025/02/01
19:15 UTC

5

Returned from FMLA leave to toxic expectationsā€”boss says I need "accommodations" or else. How to protect myself? (CA)

I just returned from FMLA leave (health-related) at a consulting firm. My bosses ambushed me in a meeting, implying Iā€™m not ā€œcommittedā€ because I pushed back on working 60-70 hour weeks. (Most team members work 45-55 hours. Boss is cherry-picking rare ā€œcrunch timeā€ examples (e.g., one person on a nightmare deal) to pressure me. ) Their reasoning: ā€œItā€™s unfair to the teamā€ if I donā€™t match othersā€™ unsustainable hours. When I mentioned boundaries, they threatened HR involvement for ā€œaccommodations,ā€ which I suspect means reduced pay or a PIP.

Context:

  • Role: Exempt/salaried employee in high stress, client-facing role.
  • CA Labor Laws: Strong protections, but consulting culture weaponizes ā€œflexibility.ā€

Questions:

  1. HRā€™s Role: If I ask for accommodations (which I donā€™t medically needā€”just want balance), will HR side with my bosses and cut my pay/hours?
  2. FMLA Retaliation: Can they legally overload me with work to force me out post-leave?
  3. Boundary-Setting: How do I push back without sounding ā€œuncommittedā€?
  4. CA Labor Law: Any loopholes to exploit if they retaliate?

Has anyone survived this playbook? How do I outlast them without burning out?*

7 Comments
2025/02/01
19:00 UTC

14

I Donā€™t Know If I Should Continue To Try And Get My CPA. Please Help.

I'm a 22-year-old who just started working at an accounting firm. During college, I graduated with a 3.8 GPA, so I know I have the academic skills, but when I took the CPA exam, I couldn't score above a 50 on any of the sections. For each part I studied for 5 weeks and spent 5-6 hours, Monday to Friday, using Becker. It's been tough, and honestly, my motivation is at an all-time low. I know passing the CPA exam would be crucial for my career down the road, but Iā€™m starting to question whether I can even do it. Iā€™ve never been great at test-taking, but failing to pass any of the sections feels like a huge blow to my confidence. Iā€™m wondering if I should just start looking for other career opportunities, even though Iā€™ve only just begun my job. What do you think I should do?

26 Comments
2025/02/01
18:42 UTC

1

Company I Just Started With Keeps Wanting To Take Home Office on S-Corps

I just started with this company for the upcoming tax season. These people keep wanting me to take home office on an S-Corp. They even collect this information on the S-Corp organizer. I've been out of the business prep game for a while, so I'm shaking off the cobwebs. But it seems very clear the home office is not allowed. There's some talk about an accountability plan loophole, but none of these people have that. They can barely produce financials. Am I missing something?

2 Comments
2025/02/01
18:37 UTC

3

Anyone able/willing to help me with an Accounting assignment Question about Balance Sheets?

8 Comments
2025/02/01
18:23 UTC

0

Benefits of WFH for me

NSFW. Some of it gets nasty. You've been warned.

This is not the continuation of the office slob lore that is going on today in this thread. I guess I am looking for catharsis as I have to RTO soon. Here are some of the benefits I have enjoyed by WFH for the past 5 years:

I can be a slob and as long as my work is good, everything in the work universe is a-okay.

I can wear clothes that looks good up top on the video but my belly is hanging out below the desk. I dont need to constantly buy clothes.

I can shower once in three days, and dont need to wear a cologne.

I have a stripper's ass. Lord blesth me with big cakes. While in office, I have had to constantly go to bathroom, at least once or twice or thrice, to wipe the sweat off my butt and butt cracks. Or else I would literally have stinky butt. Very scary in a professional office environment.

I can cut my nails while I work from home.

I can take a 15 mins nap every workday after 15 mins lunch (I eat fast).

The time saved for commuting, I have allocated it towards sleeping more. I sleep 9 hrs per day versus 7 hrs or less per day when I used to work from office.

Less time with coworkers who really are not our friends, and more time with my family. Building a psychological safety.

I dont have a poker face. After a rough meeting, I can decompress safely at home versus having to focus extra hard to put up a professional face at work. Another psychological safety.

I joke a lot. Dad jokes. Cringe. But I love them. No one except my kids need to hear that lol! I can truly be myself while WFH and maintain a professional tone while am in a work meeting.

My mortgage money makes sense. I am using every penny I pay for my mortgage by staying home all days of the month.

4 Comments
2025/02/01
18:21 UTC

3

Anyone using Sureprep

Just wondering what everybodyā€™s experience is with the use of share prep. Did it make anybodyā€™s job easier?

15 Comments
2025/02/01
18:13 UTC

2

1099 MISC vs 1099 NEC

Some context: I'm a current student and last semester I took a class that simulated a business, and we were tasked to do tax filings (1099's) for contractors at YE.

The one filing that still has me scratching my head was one for an $850 leasehold improvement that was done by an independent contractor who was not incorporated. I initially filed form 1099 NEC, but was told that this should be filed with form 1099 MISC, box 3 other income.

After reading the IRS guidelines for 1099 MISC box 3 and 1099 NEC, this seems to be non-employee compensatory...so 1099 NEC. Am I missing something here, am I going crazy? Any insight into why this scenario calls for a 1099 MISC instead of a 1099 NEC? I'm still thinking about this 2 months later because I cant find a definitive answer myself.

4 Comments
2025/02/01
18:01 UTC

1

Practical interview

Hey everyone! Iā€™m really looking for some advice here- I had a Teams interview for a staff accountant position last week, and this coming week Iā€™m having an in person interview where they said there would be a practical portion. So, hereā€™s the catch- I have zero experience. They said they were cool with training from the ground up, and I have taken a few accounting courses in college, but they were so long ago that I barely remember anything.

In the interview they said my position would be very base level, and that Iā€™d be doing mostly AR, AP and general ledger entries. Anyone have some advice on how I can prepare myself? I was honest off of the get go and said that I didnā€™t have any formal accounting training, and I am currently a banker so I understand the basics of debits, credits and finance in general. But I still donā€™t want to completely bomb the practical portion, Iā€™d like to show them that I have some promise in this role.

Thanks for reading!

5 Comments
2025/02/01
17:49 UTC

8

Females what do yall wear for interviews and whatā€™s your closest consist of for the work week? Im in school and have no idea how to dressšŸ˜‚ I need help shoes and all

15 Comments
2025/02/01
17:41 UTC

1

Client Tracker Template

Hello all,

Busy season is approaching, and I need advice on creating a client tracker. Iā€™m a Staff 1 at a mid-size firm, heading into my second busy season. Last year, I struggled to track projects and follow up on tasks promptly.

Iā€™ve searched YouTube and Google but found only complex Excel templates that donā€™t fit my needs. I want to track: ā€¢ Project status updates ā€¢ Project budget ā€¢ Due dates ā€¢ Workable/non-workable status

Iā€™m comfortable with Excel but think a spreadsheet might be more convenient. Iā€™d appreciate any suggestions. Thanks!

3 Comments
2025/02/01
17:38 UTC

1

Is there a free online source where you can enter a specific account name and it would tell you how it should be classified?

2 Comments
2025/02/01
17:35 UTC

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