Accounting brahs - Unite!

[AccountingMajor]

In.

Graduated with accounting degree and worked in public for a year but then joined military LOL.

Been thinking about taking the cpa exams ( I previously passed REG - expired though) for when I get out and going back into it. Either that or some cushy government job like IRS or state DOR.

FAR = Only difficult because it's long as hell.
AUD = easiest exam you'll ever take, it just feels like gameshow trivia
REG = similar to AUD except there are calculations (but the calculations are no where near as confusing or long as FAR)
BEC = I would put as 2nd hardest because the calculations can throw you off if you don't study.

*No Joke AUD is a breath of fresh air after any of those exams. Zero difficulty if you study.

[Glutebrahhh]

You're correct, books teach us that if US:EU

1:1

The a weakening of the dollar looks like 2:1

While a Stronger dollar looks like 0.10: 1

Exaggerated examples make it easier to see.

One benefit to this is labor with a strengthening.
For a weakening, it's beneficial to pay off debt.

For example if it takes $1 to buy 100Y , you will most likely outsource your labor to China. So let's say you do that.

You already have US debt of $100.
Now you owe China 100Y, so let's say you transfer $2 to yuan now you have 200Y.

Now let's say the yuan increases against the dollar. To (US:Y) 2:1.

Now each Yuan you own is worth twice as much. You have 200Y ($400) and you pay off your US debt. You still have 350Y.

You see before it cost you $1 to get 100Y, now you spent 50Y to pay off a $100 debt. (At the time of your initial purchase, it cost you $1 to buy 100Y)
So in currency fluctuation terms, it only cost you $50 to pay off $100.

Nominal value = the number itself (the name it identifies as), not the value in terms of foreign currency valuation.

I am still confused.

Does appreciation represent a nominal increase or nominal decrease?

edit: it sure looks like you're saying a nominal decrease is the result of appreciation, but I know my textbooks have suggested the opposite to me. Nothing pisses me off like an incorrect textbook.

[AccountingMajor]

I am still confused.

Does appreciation represent a nominal increase or nominal decrease?

edit: it sure looks like you're saying a nominal decrease is the result of appreciation, but I know my textbooks have suggested the opposite to me. Nothing pisses me off like an incorrect textbook.

Lol I swear

appreciation of dollar = decrease in nominal value of the dollar

Depreciation of yuan = increase in nominal value of yuan

E.g. US: ¥ ---> 1:10 ---> 1:100 or 0.50:10

1:100 = the yuan depreciated in value
0.50:10 = the dollar appreciated in value

In school, I rarely read the textbook unless it was for something I absolutely could not calculate.

Usually I would, just go straight to the homework since we used online sources (McGraw Hill and Connect). So if I thought it was correct, I could check answer up to 5 times before having to submit.

If you're thinking about the CPA exam, I'm not exactly sure where currency fluctuation is even covered. If anything it would be on BEC, but since the overhaul, I'm not even sure about that anymore.

[Glutebrahhh]

If you're thinking about the CPA exam, I'm not exactly sure where currency fluctuation is even covered. If anything it would be on BEC, but since the overhaul, I'm not even sure about that anymore.

I'm currently working through BEC, and loving these big conceptual arcs (almost wish I'd started here) but the connection between all these factors has always been interesting to me. I want to understand through and through, but different chapters seem to suggest different things and this is a hang up I've not enjoyed.

[AccountingMajor]

I'm currently working through BEC, and loving these big conceptual arcs (almost wish I'd started here) but the connection between all these factors has always been interesting to me. I want to understand through and through, but different chapters seem to suggest different things and this is a hang up I've not enjoyed.

It's normal to get pissed too, so don't think you're the only one. I was punching walls from getting questions wrong and wrong one after the other this was worst when it came to FAR.

Out of the 4 tests, I loved BEC since it was the most interesting (the only test at all related to cost accounting). That's why I did the CMA afterwards too since it covers stuff that isn't in BEC, BEC now has a lot more computer related stuff than when I took it, which is weird.

I used Wiley which I recommend if you're a bookworm, and can do everything on your own without videos (they have them, but I only used for review, not to learn)

[scare]

Just use Ninja for CPA. I passed all 4 exams in 5-6 months only using Ninja. Multiple choice and nothing else. ezpz. Passed AUD after studying for only a week, like 30 hours i think lol.

[PattBattmann]

Passed CPA exam on first try crew.

I work at a small CPA firm specializing in tax prep. I am attempting to stay there long-term since we have an alliance with a local financial advisor/investment company.
I have close to 9 years as a CPA now (33 years old). Hopefully, I can one day make bank.

[pakmansc300]

Opinions on the CMA certification?

If someone has not worked in public or no intention of public accounting (audit/tax) is the CMA beneficial for career progression in industry?

[Glutebrahhh]

Opinions on the CMA certification?

If someone has not worked in public or no intention of public accounting (audit/tax) is the CMA beneficial for career progression in industry?

Maybe another miscer knows better, but I'd say it's the private industry equivalent of the CPA.

[AccountingMajor]

Maybe another miscer knows better, but I'd say it's the private industry equivalent of the CPA.

They both don't really do anything in private. It's more of a "look at me, hire me" deal in private.

CPA actually has utility in public accounting. You can sign off on audits, file taxes for pay, and can represent clients in front of the IRS.

CPA & CMA in private is well-deserved bragging rights. They don't hurt to have, and both can help you get noticed to hiring managers. Once you have them, you can do CPE, but nothing is really stopping you from doing CPE to begin with lol

*Have both

[AccountingMajor]

Opinions on the CMA certification?

If someone has not worked in public or no intention of public accounting (audit/tax) is the CMA beneficial for career progression in industry?

Why do you want a CMA, do you like cost accounting?

[TheXanderXone]

I'd like to make a transition to accounting. Graduated in 2015 with a BBA in Economics and have been working in chitty sales jobs since. I hate sales. How difficult would it be for me to get an entry level accounting job?

[Glutebrahhh]

I'd like to make a transition to accounting. Graduated in 2015 with a BBA in Economics and have been working in chitty sales jobs since. I hate sales. How difficult would it be for me to get an entry level accounting job?

Any entry level job requires very little training to bring someone up to speed, so as long as you can show them you aren't retarded, you'd probably be a good hire.

[AccountingMajor]

I'd like to make a transition to accounting. Graduated in 2015 with a BBA in Economics and have been working in chitty sales jobs since. I hate sales. How difficult would it be for me to get an entry level accounting job?

Depends on what you want, if you want a bookkeeping job ap/ar you should be good. But sometimes there are retarded companies where I chit you not, that aren't willing to train in data entry, but only train in higher level duties. Problem is that sometimes this higher level jobs will only look at accounting majors. It really sucks sometimes because I have a finance friend who is working in AP (yes it sucks, no he is not going to get promoted, but his plan is to stay and job hop if they don't promote him, so he has a plan).

If you want to work as a staff accountant or whatever that isn't tied to just bookkeeping, you'll most likely only be able to find those jobs in the city.

Edit: my dude, you're in Georgia?. The Atlanta area is having major boom in jobs. You should be able to get 1 easy. San Diego is what suks dik. We have a billion graduates and barely any jobs here.

https://www.indeed.com/m/viewjob?jk=55d1a430998684a9

https://www.indeed.com/m/viewjob?jk=0cbe3ed34d51d154

Everything in these jobs is easy and any monkey can do it with some training (maybe a week or less). The problem is these types of employers (at least in San Diego) want you to know what you are doing and they refuse to train, and they'd rather hire some idiot with 20 years experience doing entry level work over a college graduate with high grades.

Let me explain what these jobs are talking about, so you can be as pissed as I am about it. All they are asking is do you know how to user a server. (File explorer..you know going from desktop to documents), do you know how to download chit from a website (what you do in school on blackboard when you log into the university website), can you data entry into the computer. Do you know that if 1+1 = 2 in your credit card statement. 1+1 should not equal 3 on your bank statement. Asshats make it seem like analysis is this impossible skill to learn, I can tell you without a doubt. Higher level accounting work is so much easier than bookkeeping. You have 100% control over everything by making journal entries and accessing all data and you aren't limited to only entering data into your limited access screens. If you **** up in bookkeeping, you can't fix it. If you **** up in accounting, you can easily fix it.

Any entry level job requires very little training to bring someone up to speed, so as long as you can show them you aren't retarded, you'd probably be a good hire.

I agree, it really depends on the employer. Since many hiring managers are boomers, they will try to fuk you over if you let them, just make sure you do elaborate that you know your ****. Even if it's economics that's cool.

I tend to see hiring managers who have MBAs as being real cheeky fuks who try to 1up you at everything. Put them in their place and you'll get hired if you get one of those. Also never apologize and I emphasize always elaborate. For some reason accounting tends to attract socially awkward fuks who have no business interacting with human beings. You have 1 side that stays quiet and stares at you like a creep while you speak to him, and on the other side you have the dude who is beyond dumb and rude and tries to tell you dumchit like knowing excel is worthless if you know **********. Or access is more sophisticated than accounting program. Really out of touch they are.

[mbocch39]

Another Accounting Brah checking in. I am currently a Director of Finance for a company effected by Covid-19!! Luckily for me where I work is owned by the Govt so I got to keep my job.

I am here to answer any questions...

[AccountingMajor]

Another Accounting Brah checking in. I am currently a Director of Finance for a company effected by Covid-19!! Luckily for me where I work is owned by the Govt so I got to keep my job.

I am here to answer any questions...

Are you part of the master race (accounting degree)?

Do you have CPA / CMA.

What state are you in? (How is the job market in your state?)

Do you look down upon other business majors (e.g. management / marketing)?

[imbeingcereal]

I'm a CPA and am wondering when you boyos started making serious money (my definition of serious is at least $150K+, ideally closer to $200K since I'm in a major city)? I don't know about y'all but I'm exhausted cranking out 55+ hours constantly at the Big 4 and getting paid peanuts. I'm in Advisory too, so a better service line, but the pay, politics, culture, etc. are all garbage. I also have 6-7 years of experience, so I feel like I should be hitting this pretty quickly by now.

[AccountingMajor]

I'm a CPA and am wondering when you boyos started making serious money (my definition of serious is at least $150K+, ideally closer to $200K since I'm in a major city)? I don't know about y'all but I'm exhausted cranking out 55+ hours constantly at the Big 4 and getting paid peanuts. I'm in Advisory too, so a better service line, but the pay, politics, culture, etc. are all garbage. I also have 6-7 years of experience, so I feel like I should be hitting this pretty quickly by now.

You don't have enough to be an accounting assistant in San Diego. Hope that helps.

https://archive.is/9VL6e

[Caldef]

In.

Business advisory, public practice. CA which is the NZ/AUD equivalant to US CPA.

What on earth is the ar/ap that people are talking about? Is that a reference to accounts payable and receivable clerks?

[AccountingMajor]

In.

Business advisory, public practice. CA which is the NZ/AUD equivalant to US CPA.

What on earth is the ar/ap that people are talking about? Is that a reference to accounts payable and receivable clerks?

Yes, maybe it's a more common term in the USA.

AP is accounts payable clerk work. Like entering invoices all day every day.

AR is accounts receivable clerk work. Like entering bills and matching against deposits all day every day.

Those are dead-end jobs in the US and won't lead to any further opportunity. If you stay there longer than usual, you can say goodbye to your accounting career. This is why it's recommended to leave asap for an actual accounting job if you have an accounting degree and want to work as an accountant.

[mbocch39]

Are you part of the master race (accounting degree)? Yes, only a Bachelors no Masters

Do you have CPA / CMA. No, only worked for a CPA firm for a short while and hated it.

What state are you in? (How is the job market in your state?) Was working in CT but, just starting working in MA. Job Market is ok. Had to lay off a Staff Level employee due to Covid and he took the summer off collected the $600 and was able to find a job with a $10K raise rather quickly.

Do you look down upon other business majors (e.g. management / marketing)?

Not at all. I appreciate any body who got a degree in Business. I do know that my 300 and up level classes in Accounting were much harder than my 300 and up level Management and Marketing...LOL

[AccountingMajor]

Yes, only a Bachelors no Masters

No, only worked for a CPA firm for a short while and hated it.

Was working in CT but, just starting working in MA. Job Market is ok. Had to lay off a Staff Level employee due to Covid and he took the summer off collected the $600 and was able to find a job with a $10K raise rather quickly.

Not at all. I appreciate any body who got a degree in Business. I do know that my 300 and up level classes in Accounting were much harder than my 300 and up level Management and Marketing...LOL

Cool, I know a lot of people get a master's in accounting only if they don't want to get extra credits for a bachelor's (the 150 credits / units / hours).

Do you consider people with Associate Degrees In Accounting or even dare say *GULP* certificates to be part of the Master Race?

Most of the CPA firms (not just Big4) here are out of touch white people, so it's pretty hard to get into an internship (the culture fit) if you are Latino / Black. I got zero interviews, and I had close to 4.0 GPA, prior internship experience, and held executive position in the accounting club. But as they say: Such is life. This one white kid in my class who never held a job before and zero experience with excel or accounting software, and no networking skills got an interview at a midsized firm and got hired LOL like wtf

I know it depends on the state, but in California, it doesn't matter if you didn't work in public, all you need are specific college classes, 150 hours and 2 years experience working directly under a CPA.

I know there are black CPA firms that seem more down to earth, but I didn't know they existed at the time otherwise, would have tried to jump on that boat. I did find out about this Latino professional organization, it didn't help. Sad to say.

Since you are a hiring manager, why do companies not like doing remote work? Is it because they are old men?

Because where my friend works, everyone was made 100% remote temporarily, but since then they forced everyone to 1 week remote and 1 week onsite, now they made it 4 days onsite, 1 day remote, and eventually they are going to make everyone back onsite with no possibilty of remote. I can understand those who shuffle paperwork all day because the company is ran by old dudes, but obviously if they can do all the work electronically, why not just stay remote?

[mbocch39]

For the first job out of school, I am more concerned about the degree and it is less about it as you advance in your career. As you move along with your career it is less about your degree and more about your experience. I always tell people look at a standard resume. Job history first and degree last.....

I tell people that work for me all I ask is that you be professional!! You know what your job requires. You know when and when you can't take time off. You know when it is busy and when it isn't....Don't come to me expecting to take the first 2 weeks off of the month when we are trying to close the books but, you want to take the last 2 weeks off then I am flexible.



I lost the majority of my staff due to Covid-19 but, the one guy that works for me is very professional and gets his work done. I don't care if he comes into the office or not. Don't get me wrong there are times that we have a in person meeting and he has to come in but, I am very flexible as long as the work is getting done. He is usually in the office 2-3 days a week. He is an early riser and gets in the office at 7 and usually leaves around 3. I don't care as long as the work is getting done. We work in New England and weather is a factor. I tell him if the weather is bad don't risk coming in. I tend to come into the office most days because my home office isn't as efficient as the office plus I get easily distracted at home...LOL

I agree with you...I hated working for the CPA firm, that is why I only lasted a short term and went to work for a corporation. The path isn't as easy because some people have thinking if you don't have the 3 letters after your name then you are not a good accountant. Not always the case. My last job I had 2 CPA's work for me and one was a tax expert and one was an Auditor the whole time. The auditor was great at analyzing the books but, struggling putting them together...LOL...His recon's were amazing cause he was good with detail but, not great with JE's and P&L work. Tax expert was the same but, came to me with a little more corporate experience.

[AccountingMajor]

My last job I had 2 CPA's work for me and one was a tax expert and one was an Auditor the whole time. The auditor was great at analyzing the books but, struggling putting them together...LOL...His recon's were amazing cause he was good with detail but, not great with JE's and P&L work. Tax expert was the same but, came to me with a little more corporate experience.

Oh my gosh, don't even get me started on CPAs, the ones i've met in non public accounting jobs (either coworkers, networking, interviews) are honestly so awkward and socially stunted for some reason.

Even my supervisor has said that I'm not like other CPA's they've met. I'm like I hear you man.

I've always heard that people that go into tax get stuck in tax forever? Is that true? I mean obviously you said someone worked for you from a tax background do you know if that's the norm?

Also have you ever wanted to get the CMA? You would qualify for it for sure, and it's so much less intensive than FAR on the CPA exam.

[imbeingcereal]

You don't have enough to be an accounting assistant in San Diego. Hope that helps.

https://archive.is/9VL6e

No, it doesn't. Pls circle back and advice before I take this offline. Thx.

-Sent from my iPhone

[AccountingMajor]

No, it doesn't. Pls circle back and advice before I take this offline. Thx.

-Sent from my iPhone

Good catch, confirming, would you like the beating now or later. Let's discuss in morning

-thank you

[Bluestar92]

I work in tax for a small firm (120) and I enjoyed the first 6 months I was there pre-covid. Then we switched remote and ended up working 50+ hours all the way until October because nothing was getting done. Now this year our controller decided to switch up our entire software package and processes and now I feel like I'm having to learn everything all over again. Also looking like we will be working OT all year again because even the vets have no idea how to work the new software. Its truly miserable. I figured I'd burn out after a few years and go work in industry eventually but I didn't think it would happen this quick. Got 2 of my cpa exams passed last spring before covid and now the credits are going to expire because there are no sub 50 hours weeks I can get a good study sesh in. /Rant over.

[Caldef]

Yes, maybe it's a more common term in the USA.

AP is accounts payable clerk work. Like entering invoices all day every day.

AR is accounts receivable clerk work. Like entering bills and matching against deposits all day every day.

Those are dead-end jobs in the US and won't lead to any further opportunity. If you stay there longer than usual, you can say goodbye to your accounting career. This is why it's recommended to leave asap for an actual accounting job if you have an accounting degree and want to work as an accountant.

Wtf - I'm surprised anyone wuth a degree would even bother doing accounts payable or receivable. I did that chit when I was fresh out of high school, before I even went to uni. Its not what I would call "accounting".

[AccountingMajor]

I work in tax for a small firm (120) and I enjoyed the first 6 months I was there pre-covid. Then we switched remote and ended up working 50+ hours all the way until October because nothing was getting done. Now this year our controller decided to switch up our entire software package and processes and now I feel like I'm having to learn everything all over again. Also looking like we will be working OT all year again because even the vets have no idea how to work the new software. Its truly miserable. I figured I'd burn out after a few years and go work in industry eventually but I didn't think it would happen this quick. Got 2 of my cpa exams passed last spring before covid and now the credits are going to expire because there are no sub 50 hours weeks I can get a good study sesh in. /Rant over.

Isn't that an expectation in Public Accounting? Where they work you 80 hrs a week and you are expected to get your license at the same time.

Worst case they expire, but you can always take then all again after you leave chitty public accounting. Then your managers would be forced to approve your hours. Just make sure you work the length you're required for approval.

Which parts did you pass?

[AccountingMajor]

Wtf - I'm surprised anyone wuth a degree would even bother doing accounts payable or receivable. I did that chit when I was fresh out of high school, before I even went to uni. Its not what I would call "accounting".

Depends where you at, in San Diego, the job market really sucks and is competitive. Like that job posting, I put in the thread. Those jobs are really common and getting a decent job is extremely difficult without experience.

My friend with 6 years experience is working in AP still. He hasn't even done a reconciliation yet. That's how many others are especially since every school pumps out accounting majors into San Diego's chitty economy.