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SiGmA_X posted:Which basically rules out using Excel as the destination system, right? If audit is testing it they’ll probably just watch you rerun the report with the same parameters or something. As long as there’s some way to backtrack from the end result to ensure the data is complete and accurate it’ll be fine Unless your system is actively loving up you’re more likely to get deficiencies because your evidence of review is practically non existent. No I don’t care that you saved a loving meeting invite to support your primary management review control over revenue we went over this last year god dammit
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Jan 15, 2019 08:41
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If it was me and I knew something was being transferred from somewhere to excel I'd also have a reconciliation done where they compare screenshots of the source data to the excel file, sign it off and keep it on record with a separate preparer and reviewer. Audit would probably still was to reperform it all but with the reconciliations being stored on file with screenshots of the source data at the time it sort of helps back up what you did even if later it turns out there is a minor difference or something.
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Jan 15, 2019 09:13
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We just had a Sr analyst revoke their resignation. This person pushed off a huge B/S adjustment last month (involving 30k individual item valuation and 3yrs of transactions - a nightmare) because they were leaving... So I did it. Lucky person. Should be interesting having them not leave... Kitchner posted:If it was me and I knew something was being transferred from somewhere to excel I'd also have a reconciliation done where they compare screenshots of the source data to the excel file, sign it off and keep it on record with a separate preparer and reviewer. We do this for some daily investment activity feeds that management refused to allow me and my info analyst counterpart to fully automate.... Busy work creation! (The info analyst is now retired - and the IT VP replaced them with a *PM* who can't write basic SQL, I'm much more of an info analyst..and I'm an accountant who self learned SQL because I work with databases as an analyst.../rant)
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Jan 15, 2019 15:40
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Any recommendations for an online college? I need two dumb classes still to get my dumb CPA credential for my dumb career choice. I need Accounting Ethics and an additional 3 hours in Auditing. Life is hell I've been an accountant for 10 years just give me the drat initials!
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Jan 15, 2019 17:07
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19 o'clock posted:Any recommendations for an online college? I need two dumb classes still to get my dumb CPA credential for my dumb career choice. If everyone couldn't pass again then my value for salary negotiation s would go down. Just go through your local CC. Unless you live in NY or CA with their ridiculous rules any class counts.
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Jan 15, 2019 17:24
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Lord of Garbagemen posted:If everyone couldn't pass again then my value for salary negotiation s would go down. Just go through your local CC. Unless you live in NY or CA with their ridiculous rules any class counts. Nothing offered locally outside of the CU Boulder that will satisfy what I need, and they won't let me take the courses unless i'm a full-fledged masters student. Plus online I can take more flexibly and sooner, too. I figured ask here just in case and gonna rip off this band-aid ASAP so I can move on with life. Barf. Hope y'all are doing well - noisy in the office today.
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Jan 15, 2019 18:23
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Check out Texas A&M Commerce, I've heard good things about their online accounting program (though no idea if you'll run into the same issues wrt having to be in the full-time program to register for anything)
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Jan 15, 2019 19:04
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black.lion posted:Check out Texas A&M Commerce, I've heard good things about their online accounting program (though no idea if you'll run into the same issues wrt having to be in the full-time program to register for anything) Online seems to be infinitely flexible about anywhere I look - thanks for the recommendation! The big thing for CU Boulder is that being in-class obviously proves more restrictive to the university resource-wise.
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Jan 15, 2019 19:46
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If you didn't hear the IRS released some clarification on 199a for rentals. They did not address the need for 1099s (not normally a request, but section 162 does require). Just a 250 hour test, you get a pass for 2018. Edit: remember the final say in if you can take 199a on rentals is whatever court circuit you practice in, 9th (my circuit) has said a rental can rise to 162, 1 2 3 (east coast circuits) have said no (I believe). Lord of Garbagemen fucked around with this message at 17:30 on Jan 23, 2019 |
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Jan 23, 2019 17:28
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Lord of Garbagemen posted:If you didn't hear the IRS released some clarification on 199a for rentals. They did not address the need for 1099s (not normally a request, but section 162 does require). Just a 250 hour test, you get a pass for 2018. Every time I get annoyed filling out an audit checklist I’m going to read this post again and feel slightly better about my lot in life.
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Jan 23, 2019 19:22
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Lord of Garbagemen posted:Edit: remember the final say in if you can take 199a on rentals is whatever court circuit you practice in, 9th (my circuit) has said a rental can rise to 162, 1 2 3 (east coast circuits) have said no (I believe). Got a link for the 9th circuit? Checkpoint is nowhere near as handy as westlaw...
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Jan 23, 2019 22:38
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JohnnyTreachery posted:Got a link for the 9th circuit? Checkpoint is nowhere near as handy as westlaw... Sorry I didnt see this, look up Curphey V Commissioner. For triple net leases i would look for guidance with Union National Bank (8 AFTR 2d 5133) and PLR 8350008 both kind of agree that TNL's are a hard no. For alot of the east coast cases saying no I would refer to Grier V United States
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Jan 25, 2019 19:25
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common law supremacy i've been doing some work in civil law countries, and literally identical sets of facts can get completely opposite rulings, and everyone's cool with that pretty sure no less than 30% of Brazil's GDP is from legal fees. another 30% is from tax advisors
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Jan 25, 2019 19:58
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Drink, be merry, be fat! Indulge in all of life's vices! Indulge the devil that exist within us all! For next week, the dark times begin.
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Jan 26, 2019 01:01
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Anyone know if section 125 cafeteria plan established in Long Island are added back to New York State Income. The ones made in New York City are, but I don't know about Long Island.
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Feb 17, 2019 21:13
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Mar 3, 2019 05:52
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Fake news. You should see how the accounting units in Lawson 10 do it... They don't balance out!! GAAP and management reporting package uploaded to the parent company on 2/28, hours clocked YTD as of EOB 3/1/19: 511.
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Mar 4, 2019 05:37
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So I went from basically no one giving me a shot above AR/cash applications to the de facto accounting manager at a small immigration law firm. Helping make a difference, I guess. It's basically all quickbooks based, but their 2018 books are a mess and aren't even closed. A consultant interviewed me and then bounced for another opportunity before I started. I guess he might take calls or swing by to give me some guidance, but lmao that's not going to happen. A CPA will be coming by every few weeks though. The owner is a type A guy and came in hot with what he was looking to do within a couple hours of me being there. I vaguely recall CPA material so I tried to answer what we could do with the limited knowledge of their systems I had at the time. They have like, owners drawings booked as expenses, several separate bank accounts with no rhyme or reason as to what they're used for, and some other stuff. This is exciting and nerve wracking. This isn't as high level stuff as you're all used to, I imagine, but a little help would be greatly appreciated.
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Mar 6, 2019 01:08
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199a is a hot garbage fire.
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Mar 6, 2019 06:41
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Lord of Garbagemen posted:199a is a hot garbage fire. Job security
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Mar 6, 2019 13:24
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Simpsons Reference posted:So I went from basically no one giving me a shot above AR/cash applications to the de facto accounting manager at a small immigration law firm. Helping make a difference, I guess. When I started my first job out of college I was dropped into a similar question. The company in question owned several dozen subsidiaries that were separate entities with common ownership. So there were about 50+ individual QB companies set up that you constantly had to switch back and forth from. On top of that, before I got there they had tried to fill the book keeping position with a sort of "intern to hire" role meaning the previous book keepers were students who worked there part time and then left as soon as they got their degree. The books were such a mess, like you're saying, distributions/contributes booked on the income statement, loans between properties double booked under different names, bank recs had random adjustments just to fill a plug... And since there were 50+ ledgers to look at, try and guess how many times one entry is booked on one entity and the 2nd contributing entity has nothing? (Hint: everytime) So I feel you my dude.
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Mar 6, 2019 20:53
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gently caress this job y’all. Don’t let anyone tell you tax is a good idea.
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Mar 7, 2019 04:22
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Hurt Whitey Maybe posted:gently caress this job y’all. I feel ya this busy season has been worst in a long time.
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Mar 7, 2019 09:49
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Five weeks and change m8s, we can do it! 
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Mar 7, 2019 11:21
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Is it possible to get a decent job in accounting after entering as a non-traditional student? Boyfriend is looking into going for a BS at 27, planning on graduation at 30/31. Is accounting one of the fields where finding employment/climbing the ladder is significantly more difficult if you didn't graduate by 22/23?
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Mar 11, 2019 17:55
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There's a bunch of grade 13 Internal Revenue Agent positions open right now for the IRS's Large Business and International division. One of the few jobs that will hire off the street at that grade level (minimum starting salary $87,252 or more depending on area). If you have business tax experience and are tired of busy season, check it out.
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Mar 11, 2019 19:19
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A Ceiling Fan posted:Is it possible to get a decent job in accounting after entering as a non-traditional student? Boyfriend is looking into going for a BS at 27, planning on graduation at 30/31. Is accounting one of the fields where finding employment/climbing the ladder is significantly more difficult if you didn't graduate by 22/23? Nah, 30/31 isn't a problem. The only gate keeping is most firms hire through internships, but they are paid and recruit based on class year, not age. That said, I was able to get a job without an internship, just had to work a little harder. I was 31 when I started working at an accounting firm. Similar to your boyfriend, I went back to grad school at 27 and ended up in tax. My career has been fine working in public.
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Mar 11, 2019 20:14
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Also, mid-tier/national firms absolutely hire people that had their first legal drink in the 90s as opposed to last year.
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Mar 11, 2019 22:08
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So this company booked about 2.4 mil in revenue in 2017. For every contract, an invoice for the entire amount was generated, creating a receivable. They only received around 50% of that in payments. Bad debt expense booked? $8,700
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Mar 11, 2019 23:04
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I'm choosing to believe that that company is a US hospital, and for the sake of my sanity please do not correct my belief.
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Mar 11, 2019 23:12
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A hospital...for ants?
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Mar 11, 2019 23:50
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I got out of the game last year. I have to say that watching the Big 4 busy season go by from the other side of the glass is amazing.
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Mar 12, 2019 04:38
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A Ceiling Fan posted:Is it possible to get a decent job in accounting after entering as a non-traditional student? Boyfriend is looking into going for a BS at 27, planning on graduation at 30/31. Is accounting one of the fields where finding employment/climbing the ladder is significantly more difficult if you didn't graduate by 22/23? What did your boyfriend do career wise before going back to school? Simpsons Reference posted:So this company booked about 2.4 mil in revenue in 2017. For every contract, an invoice for the entire amount was generated, creating a receivable. They only received around 50% of that in payments. Democratic Pirate posted:I got out of the game last year. I have to say that watching the Big 4 busy season go by from the other side of the glass is amazing.
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Mar 12, 2019 06:16
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incels interlinked posted:There's a bunch of grade 13 Internal Revenue Agent positions open right now for the IRS's Large Business and International division. One of the few jobs that will hire off the street at that grade level (minimum starting salary $87,252 or more depending on area). If you have business tax experience and are tired of busy season, check it out. What would you say the odds are for a qualified external candidate (non-veteran) for one of these jobs? I’d prefer not to relocate, so realistically I’m competing for a handful of spots that internals also want. I may also be overestimating the number of people who will even apply! What happens if I get a spot from the SB/SE posting and then one or two months later get a spot in LB&I? I’d be lucky to have that choice, but it’s frustrating that all of these postings are on different timelines. I think I need to accept that getting in is more important than getting the perfect role immediately, but they keep adding jobs that are potentially better fits on different interview schedules. I don’t want to piss anyone off, but also don’t want to decline opportunities given how random this process can be.
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Mar 13, 2019 20:43
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Hey everyone. AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA Thanks.
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Mar 13, 2019 21:36
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Thanks for the responses, everyone.SiGmA_X posted:I graduated at 28, landed an accounting job at a midsize (3bn rev, 30bn assets) financial services company. I’ve been here five years and doubled my salary and multiplied my knowledge many many times over. It can work well. Automotive Tech with a focus on electrical systems, so it probably can't be spun as applicable job experience.
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Mar 14, 2019 02:54
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"Alright, so one major concern is that you have over 2.4 million currently sitting in AR over 90 days old, so you might wan- what's that? You're cash basis?"
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Mar 14, 2019 02:58
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I hate everything and everyone. Especially this job and myself
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Mar 14, 2019 04:13
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A Ceiling Fan posted:Automotive Tech with a focus on electrical systems, so it probably can't be spun as applicable job experience. We've had a couple first/second year audit associated from our two big4 firms (bought out & changed firms in 2016) who were late 20s also, so I don't think early 30s is too old to go the traditional path. I went straight to corporate and I wish I did big4, but I don't think I'd like it in my early 30s. 60-70hr weeks beat me up more than I'd like to admit at 32, and our engagement associates work more than that. You guys probably have friends at some corporation that has a local accounting dept and could pass a resume along for an entry level position when he graduates, too. Connections are a great way in.
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Mar 14, 2019 05:55
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Mush Mushi posted:What would you say the odds are for a qualified external candidate (non-veteran) for one of these jobs? I’d prefer not to relocate, so realistically I’m competing for a handful of spots that internals also want. I may also be overestimating the number of people who will even apply! Depends on qualifications, if you have a lot of relevant corporate and/or international experience you could be more qualified than some of the internal hires. I think if you get hired with SB/SE you can take the LB&I job later. IIRC some people did this around 2010 since the SB/SE job starts around grade 7 or 9 and the LB&I is 13, they applied as an external hire and got it. In this budget environment it takes a long time to get to a 13 in SB/SE so the LB&I job is much more attractive IMO. I'd just apply to anything you think you might be interested in and see what happens, if you are lucky enough to get 2 offers hopefully they will work with you on the timeline.
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Mar 14, 2019 13:52
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