/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

996,794 Subscribers

1

I have a very quick question for Canadian Accountants

So I am an American, making money through tiktok, but I am currently residing in Canada for university. Do I pay taxes in canada? Or just the American 1099 form that is sent to me through Tiktok?

2 Comments
2024/12/02
02:34 UTC

3

Industry Experience Verification: So, might ACCA really enter Canada now?

With a recent presentation on the future CPA certification program in Canada, one now has to ask if ACCA might really enter Canada now, MRA discussions or no.

There's no way 60% of current CPA candidates are in public accounting. That's too many students and not enough public accounting firms.

The one new development that can never be discussed enough is ridiculous. There will always be a need for industry accountants going through experience verification, and simplified experience verification at that.

Whoever meets that market need will care even less if what they're doing increases the number of designated accountants by 200,000, and saturates Canada's accounting job market to Australia's unique levels.

2 Comments
2024/12/02
01:59 UTC

1

Flexible Jobs

Hey guys. I’m really intrigued by owning my accounting firm, unless someone steers me on a better path

Trying to get:

  1. Flexibility to work when I want to. I’ll work weekends or late nights if I have the flexibility to fly back from vacation on a random Tuesday in the middle of “close week”.
  2. Six figures. $200k is sufficient.
  3. Work solo. I don’t want to manage people anymore. I’m tired of babysitting employees, giving feedback, and teaching people what an accrual is and how payments against them cause true ups to the accruals.

Credentials:

  1. CPA
  2. 11 years experience
  3. Currently Assistant Controller
  4. 6 years B4 audit with one year manager

Researching but need guidance:

  1. Bookkeeping. Everything I read says low margins.
  2. Tax. Not my forte. But willing to learn.
  3. Audit. Pretty niche to need a solo practitioner to give an audit opinion. Not sure I can build a practice, unless someone has a better idea.

Open to other opportunities. I just want flexibility.

2 Comments
2024/12/02
01:59 UTC

0

150 credits requirement help

Hi y’all!

When I graduate with a bachelor’s degree in accounting with at least 150 credit hours, would I already meet that specific requirement? (At least for Texas, I heard they’re strict on requirements to license for CPA)

Also if you can, please let me know which reliable website I can go to look for the requirements to test and license for the CPA in Texas.

1 Comment
2024/12/02
01:41 UTC

0

What does the Trump administration means for accounting profession?

Those who are tax accountants, do you see the profession becoming obsolete due to major potential changes in tax law? Finishing up a masters in taxation March 2025 and want to shift into taxation but don’t know what will become of the profession. Of course not all tax accountants will need to make career changes, but I think a large majority will be out of jobs. I don’t have insight to backup this thinking though. What’re your thoughts? Should I make a switch to taxation?

22 Comments
2024/12/02
01:31 UTC

1

Career/Job Advice?

Hi everyone. I got two job offers and am having trouble deciding which one to take.

Just a little background: I graduated two years ago with a bachelors in accounting and have spent those two years in public accounting as an auditor. It was an okay job but I was very stressed most the time and found that it was harder for me to pick up on things than my coworkers and took me a little longer to complete workpapers and fully understand them. I got all my work done but worked so much overtime as a result and had no life.

Job A is an accounting position that is hospital/physician focused and responsibilities include billing and month end procedures which include posting transactions, processing jobs, reconciliations, proving support, and analyzing data.

Job B is a payroll/accounting specialist position. It involves processing payroll and minimal accounting like reconciliations.

I am asking what job to take because I am unsure what would be the best move and am going back and forth. Although I haven’t processed payroll before, I watched videos and have a general idea of what it involves and think I would definitely enjoy it more than full on accounting role and would be a better fit for me. Is payroll a good career to get into? I was thinking of getting some payroll experience and then hopefully get my CPP and then advancing my career that way?

Is that stupid of me though? The full accounting job pays about $7k more annually and is also 30 mins closer to me than the payroll job. Also the payroll job is hourly, but it still equates to $7k less. Would I be missing out on an opportunity that probably has more potential for growth? I think I am comparing my audit experience to what this accounting job will be like and am scared of my mental health going down again. I know the responsibilities will be different, so I am wondering if I would regret not taking that job bc what if I like this new side of accounting? Like I said before I also think I lack some general accounting knowledge but also don’t know if i’m being too hard on myself and focusing too much on the negative bc i did get promoted and did a good job for the most part.

So yeah to sum it up, I am almost certain I would enjoy payroll more as a career, but am unsure if it would be worth it given the other job is $7k more and seems more “professional.” Any thoughts or advice would be greatly appreciated.

Thank you!

0 Comments
2024/12/02
01:30 UTC

3

Is it worth it?

I, 27F, work as a Staff Accountant II at a non-profit. I’ve been there for two years. I started immediately after graduating with my BSBA Accounting. Before that I got my BSBA Business Management. I know I’d make more elsewhere, but I love non-profit and don’t see myself leaving. I have enough credits and work hours, assuming the CPA on staff would sign off for me, to take the exams. Is it worth it? Are there any benefits if I don’t go into public accounting? Would I be better off just getting my Masters? Thanks!

4 Comments
2024/12/02
01:23 UTC

2

Is accounting worth it + tips for growth adivce🙏

Hi I'm currently 26 and worked at 3 accounting jobs with about a total of 2 years of experience. My most recent role pays about $27 a hour and I'm currently a temp through an agency. It looks like they don't have the budget to hire anyone full time so if they do it might extend my temp contract. I know $27 a hour sounds good but living in CA it's almost nothing. I was wondering at what point in your career did you earn a really good wage like at least 5k a month. One thing I like about my current firm is there serious about wlb no late nights no ot and everyone is super willing to help. I'm starting to feel the only reason accountants make such good money is because we're working OT out the backside. I'd love to hear anyone's thoughts and this and advice if there In a certain filed in accounting or like accounting that makes a great wage and has a good wlb. Thank you!

1 Comment
2024/12/02
01:22 UTC

0

how likes baskitball

5 Comments
2024/12/02
01:13 UTC

3

Best topics to talk about in an accounting/economic based personal statement?

What topics are stand out or key in this field? What should I research and does anyone know any good books, talks or sources?

Edit: Im not sure if other countries use personal statements. But here in the UK personal statements are like an overview of who a person is and their beliefs that you send to Universities for acceptance.

2 Comments
2024/12/02
01:06 UTC

1

Finance Intern

Hi! Looking for internship BSBA major in Financial Management po here. Probably this December or early January 2025 next year. I have the requirements na po if you guys have connections pls help me :))

1 Comment
2024/12/02
00:39 UTC

1

Practice Problems and Exams

I’m currently waiting to get into an Accounting program at my local college but while I’ve been waiting, I’ve taken the initiative to learn as much as I can about any accounting course, which led me to financial and managerial. Safe to say, I have a good understanding on them but what I’m lacking is practice to reinforce them. I found a workbook a while ago that I completed which was a pdf of about 100 pages for each accounting course. Does anyone know of a resource where I can keep practicing or any other ideas of what to do?

4 Comments
2024/12/02
00:31 UTC

1

CMA exam and Bridging program

Hello everyone, is there anyone here who had their review for the CMA exam while taking an accountancy bridging program?

0 Comments
2024/12/02
00:30 UTC

6

How to tell my boss I’m leaving for an almost lateral move

Long story short, my work environment sucks. I feel like I’m not learning a lot, I’m forgotten when it comes time for new opportunity, and despite having several talks with management it’s been 3 years of this.

I’m at a local firm, moving to another local firm. The new firm is giving me more of a “tax manager” title, but the duties on paper do look similar to what I’m doing now. They are willing to pay for a CPA and some of my Master’s education, though, provide free learning, and they don’t have billable hour quotas and encourage using free time for study.

My current plan is to tell my employer that I just don’t feel successful at his firm, like it’s been 3 years and I don’t feel I’m particularly excelling. I don’t want to get into details with him far beyond that because I don’t want to be unprofessional, but at the same time if I’m asked about my new role and I say “it has more of an emphasis on tax work,” - is it polite enough to end it there?

I’m overthinking, and any advice or anecdotes are welcome. I’m not scared or worried about anyone other than myself, but that’s also why I need a little guidance in the “polite” thing to do. TIA!

ETA, I’m just worried he’s going to pepper with questions like “what exactly is the problem here?”, “what do you mean it’s more tax work?”, etc. and I think at a certain point I just want to say “I don’t want to get into more detail than that,”

33 Comments
2024/12/02
00:23 UTC

2

Senior Accountant Role

What separates a staff from a senior accountant? What are some additional responsibilities that the senior may take on? Referring to industry roles and trying to assess whether I'm ready.

1 Comment
2024/12/02
00:15 UTC

1

Switch to accounting

I graduated last year with a business management degree with a minor in marketing. I haven’t really had much luck finding jobs in marketing and was thinking of making a switch into the accounting field.

I’m considering potentially doing a cpa route long term so would I need to go back to college to consider this?

4 Comments
2024/12/01
23:51 UTC

2

Going back to school for Accounting

Hi Accounting community. I’m strongly considering going back to school online to become an accountant. I graduated with a BA from University of Vermont in a completely different field back in 2014 with just over 120 credits. I currently live in NJ and in this state I believe I only need 120 credits, so all that’s necessary is to take the correct courses.

So my question to this community is, what is the cheapest way to go about this?

I’m a very quick study and work full time so it would definitely need to be online courses.

I greatly appreciate any advice!

4 Comments
2024/12/01
23:14 UTC

1

Preparing

Hi new preparer here recently just passed the CPA exam, just looking for recommendations on tax software to use for a some returns probably under 10 and nothing too complex just family and friends. I’m 23 and can usually catch onto technology pretty well. Thank you!

2 Comments
2024/12/01
22:59 UTC

1

Kaplan’s Debt to Equity and BV/Share sections are objectively wrong

2 Comments
2024/12/01
22:01 UTC

0

The Ledger of the Lost

The rain pattered against the cracked glass of a gas station window, refracting neon lights into a kaleidoscope of broken dreams. Inside, a lone figure sat in the corner booth, hunched over a steaming cup of coffee. His clothes, frayed at the edges and damp from the downpour, hinted at the transience of his existence. Yet, his demeanor—back straight, eyes alert—spoke of a man unbroken.

I first noticed him because of his hands. They were clean, calloused only in the way of someone who had spent years typing furiously at a keyboard, not working the docks or begging on street corners. The contrast jarred me, and as I approached to refill my own cup of black coffee, I was overcome by curiosity.

“You mind if I sit here?” I asked, trying not to startle him.

He looked up, his eyes sharp and piercing beneath the brim of his waterlogged baseball cap. “Suit yourself,” he said, his voice steady, betraying none of the weariness one might expect from someone in his situation.

I sat down, and after a moment, he asked, “What are you doing out this late, kid?”

“Studying,” I said. “I’m an accounting major. Finals are next week.”

At that, his lips quirked into a smile—sad, almost wistful. “Accounting,” he repeated, as though the word itself carried a heavy weight.

“You know something about it?” I asked, leaning forward.

The man chuckled, a sound both weary and amused. “I was an accountant once. CPA, licensed in two states.”

The words hit me like a gut punch. I had assumed he was just another casualty of life’s cruel twists, but this revelation changed everything.

“You’re kidding,” I said, almost reflexively.

“I’m not,” he replied, leaning back in his chair and cradling the coffee cup like it was the only warmth he had left. “Graduated top of my class. Landed a job at Deloitte right out of college. Spent years in audit, then tax. Got the fancy title, the big bonuses, the whole nine yards.”

I could hardly believe it. “So, what happened?”

He shrugged, a gesture that seemed to carry the weight of years. “Burnout, mostly. The hours, the pressure, the endless grind—it eats at you. One day, I realized I’d been chasing promotions and paychecks for so long that I couldn’t remember why I started. And when I looked up, there was nothing left. My marriage, my health, my happiness—all gone.”

He paused, his gaze drifting to the rain-soaked parking lot. “I tried to stick it out, but the cracks were already there. Eventually, I walked away. Spent the next few years drifting—bartending, freelancing, odd jobs. Never quite got my footing again.”

“But why this?” I asked, gesturing vaguely to his tattered clothes and the worn duffel bag by his feet. “You had the skills. The credentials. You could’ve rebuilt.”

He laughed then, a deep, resonant sound that startled the sleepy clerk behind the counter. “You don’t rebuild when the foundation’s gone, kid. You start over. And starting over doesn’t always mean going back to what you were. Sometimes it means finding something entirely new.”

“What did you find?” I asked, genuinely curious.

“Freedom,” he said simply. “No deadlines, no meetings, no clients breathing down my neck. Just me, the road, and the occasional gig to keep me fed and dry. It’s not glamorous, but it’s honest. And for the first time in decades, I’m at peace with who I am.”

I sat there, stunned into silence. The man’s story defied every expectation I had, every notion of success and failure I had been taught.

As the rain began to let up, he drained the last of his coffee and stood, pulling his duffel onto his shoulder. “Good luck with your finals, kid,” he said, his tone almost paternal. “And remember—money isn’t everything. Don’t let the world convince you otherwise.”

With that, he walked out into the night, leaving me to sit in that fluorescent-lit booth, pondering the path I was on and the price of the dreams I chased.

1 Comment
2024/12/01
21:39 UTC

1

Busy Season

Have a colleague that recently started at our firm. This person is saying that during his time in audit (B4), there were many days in which he had to show up to the office at 4am?

Did anyone else doing B4 audit experience this at all? I call BS.

7 Comments
2024/12/01
21:30 UTC

0

University Janitor is a CPA

I was doing a late night studying in a university classroom before midterm exams and running on four hours of sleep, only to be startled awake by the janitor pushing his way into the room.

He seemed surprised to encounter a student, but his expression immediately resumed its baseline: tired and/or bored.

This individual always looks super haggard, like he changes maybe once a week, so I thought it would be appropriate to ask him if he needed me to vacate the room and wish him a happy Thanksgiving.

To my surprise, the janitor not only directed me to remain in the room, he sat down in the lecturer’s chair, kicked his feet up at the desk, and as he leaned back, supported his head with hands and said, “What are you studying, young man?”

This greatly surprised me, as so few of the help actually speak to us as equals, let alone superiors.

I couldn’t help but blurt out that I was an Accounting major in my last semester.

With a distant gaze, the janitor stroked his chin, as though in deep thought. “I was an accounting major, too, before I was a CPA.”

The janitor then proceeded to relate how he studying Accounting at this same state school at which he now worked, before then working at EY following a summer internship. He told me he lasted three years as a staff accountant in Audit before quitting and returning to his alma mater to clean, rather than to learn.

As he recounted this tale, I—naturally incredulous—looked him up on the state board license registry, and confirmed that he was, in fact, a CPA license holder with inactive status. My real surprise came when I ask cross-referenced his entry on the state salary transparency website, and found that he has been making OVER 100k for the last 10 years.

Feeling ballsy, I asked him if he had any regrets.

I don’t think I’d ever heard anyone “chortle,” per se, and had really only seen this phrase in writing, but if I know one thing it is that this janitor’s response to all the different possible careers he might have had as a CPA versus his current reality as a janitor, cleaning up shit and vomit, merited a chortle.

He then proceeded to lecture me on how far his salary has gotten him in the low-to-medium COL area where we live, how well his 401k is doing, how much income his various single-family rentals he has collected earn per month, his job security as a state employee, how much he anticipates to earn from his pension, and how he systematically set his children up for debt-free education and success with the employee-family tuition discount.

Phrases like pride and self-satisfaction do not describe how good this man feels about his life’s work.

He told me that he would not have to clean this classroom tonight and wished me luck in my studies and my career.

20 Comments
2024/12/01
21:22 UTC

13

Would you do it again?

Considering going to school for accounting hoping for a stable career longterm.

  1. What got you into accounting?
  2. Would you do it again?
  3. Why or why not?
38 Comments
2024/12/01
20:50 UTC

3

is staying in school longer and getting a free masters worth it?

I may be able to get a masters for free through KPMG's MADA program, which pays for your masters as long you work for them after graduation for 1-2 years. This would require me to stay in school until June 2026 and I would be 25 pushing 26. If I don't do a masters, I would graduate in November 2025 and i'll have just turned 25.

If I had graduated at 22, I would probably do a masters. However, I already feel so behind and don't want to stay in school and delay working any longer.

What would you do in my situation?

12 Comments
2024/12/01
20:49 UTC

12

Exit ops for irs revenue agent

So I've been a revenue agent for 4 years now, the bulk of that time was in the pathway hire program within LB&I, a 4 year training program for recent college grads. Earlier this year I started to feel really burnt out with LB&I work, tired of being in training, and tired of dealing with taxpayers. I switched to SBSE in August to see if I'd feel any better out of training. Turns out it was a big mistake, and I've been pretty miserable since. Didn't realize how different it would be out of training, and I feel like I just graduated college again at 28🫠

What I like best about the job is writing and research, that is really what kept me here so long. I could take the time to make my leadsheet well-written, neat, etc. Unfortunately in SBSE they just want you in and out of a case. I also cannot continue to deal with taxpayers, the emotional toll (especially coming from larger cases) is making me so anxious and upset all over again. I accepted it last time around because I was in training but I'm so burnt out now.

Anyways, I'm pretty lost on where to go from here.. Any former RAs on here who felt the same and left for other roles, fed or otherwise? Do you like your job now? I need some success stories 🥲

19 Comments
2024/12/01
20:20 UTC

1

Cheap upper division accounting classes

So I have my bachelor's in accounting and I'm trying to meet the requirements for the CPA. I have 120 credits through Arizona State University and 60 credits through the military. I believe all I need is 3 more upper division accounting classes. I need some suggestions for a cheap online college to fulfill that requirement for the CPA. Thanks in advance for the help!

2 Comments
2024/12/01
20:18 UTC

1

Additional Bachelor's Degree?

Hey everyone! I currently have a Bachelor's degree in multimedia journalism (that is barely being used). I decided to go for an Associates in Accounting and will be done with that degree in May. I have 10 years experience in different types of sales jobs (mainly hotels), but definitely want to get out of the sales industry.

Would it be beneficial to continue on to get a second Bachelor's degree for Accounting? Or would I be able to find a job with my previous Bachelor's degree plus the Associates in Accounting?

1 Comment
2024/12/01
20:08 UTC

63

When I'm trying to find an email...

2 Comments
2024/12/01
19:48 UTC

41

Salary worker - working less than 40 hours results in wage deduction

I can't find definitive information on this topic for Washington State.

If a salary employee works 38 hours in a week, the employer requires them to record 2 hours of PTO, reducing their vacation or sick paid time off balances. If the employee has no PTO available, they may have wages deducted from their paycheck equal to the hours they worked less than 40.

If the same employee works 42 hours in a week, they receive no additional benefit or pay.

Is this legal?

23 Comments
2024/12/01
19:40 UTC

0

I, 38F, am an office manager having an affair with my boss 50M. We’re both married, and I think one of our employees found out

It started out very friendly and innocent. We would banter in the office, barely even flirting. He would touch my lower back when passing by me and say stuff like I’m pretty and my husband is very lucky.

Last year at our company holiday party, both of us got too drunk and ended up making out with each other in the coat closet. We vowed to never let it happen again, but then the casual flirty banter turned into “corporate meeting lunches” and “Vegas business trips.” We’ve been very careful except for our staff accountant who had been keeping tabs on all our meal expenses. They sound like they have proof of us having an affair and might extort or blackmail us for some hush money.

What do we do?

17 Comments
2024/12/01
19:16 UTC

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