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Epi Lepi posted:Is there really as shortage right now? When I graduated (back in 2011) I was the only one of my friends able to get an actual accounting job and that was only because I went to work at my uncles tax prep firm. My other friends with degrees in accounting could not find jobs in the field. In 2011, there was a flood of graduates who went into accounting as a recession proof job. In the last 11 years, everything has absolutely changed. 2011 was the peak of accounting graduates. As the years went on, it dwindled. Programming has proven recession proof, has better work/life balance, "is cooler", pays a lot more, and such. It has sucked up a lot of graduates who might go into accounting. Accounting is really uncool and the stories of our ridiculous workload is well known at this point. Not to mention the plethora of "accountants will be gone in 10 years" propaganda makes people stay away from it out of fear of being replaced. We are at a severe low of graduates. Then, on the other end, the Boomers are finally falling. Boomers have stayed in power in accounting firms since the 80s. Many accountants don't retire until their 60s to 80s, in my experience. And people want the experienced people, not the young guys. There was never a ton of room for us before, especially at the top, and Boomers tended to hold onto their positions for 10-30 years. That made some tight ceilings and also meant alot of young people were always scrounging. Well, COVID happened. Tons of accountants died. Others retired. The covid relief bills accelerated this by droves as the IRS made our lives hell. And let's not forget burnout. Accounting firms are built on burnout as an accepted part of business. Someone working until they give up and quit has been normal for decades because there were too many people. A lot of those people leave the industry and never return. The industry literally decided forcing workers to quit from overwork was more profitable and better than hiring adequate staff. The end result is that there is next to no influx of workers, the workers that were there were always bleeding, and not the stop keeping the whole thing from spilling out has fallen down. The market has literally never been better for accountants to look for new work. Covok fucked around with this message at 18:34 on Aug 2, 2022 |
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Aug 2, 2022 18:29
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Epi Lepi posted:Is there really as shortage right now? When I graduated (back in 2011) I was the only one of my friends able to get an actual accounting job and that was only because I went to work at my uncles tax prep firm. My other friends with degrees in accounting could not find jobs in the field. Let me put it another way, last time we talked, you made 60k with 10 years experience. I was making 60k with 5 years experience. We both live on Long Island. My new industry job is paying me 90k plus Christmas bonus. You could probably get over 6 figures if you changed jobs.
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Aug 2, 2022 18:42
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Wild. I've worked at the same place since graduating and we haven't had to look for new people to hire until the last year or so. So I guess I've been insulated from that reality. Good thing I don't believe in the "Accountants will be phased out in X years" bullshit because I'm now exploring securing financing so that I can buy my uncle out and he can retire. I'm either going to have to sell off some of his clients or hire even more help though.
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Aug 2, 2022 18:43
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Covok posted:Let me put it another way, last time we talked, you made 60k with 10 years experience. I was making 60k with 5 years experience. We both live on Long Island. My new industry job is paying me 90k plus Christmas bonus. You could probably get over 6 figures if you changed jobs. I've decided to take on the burden of small business ownership instead, you are clearly smarter than I am.
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Aug 2, 2022 18:45
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My last firm had both a non-compete and a non-solicitation agreement as a part of my employment. They wrote the non-compete themselves, and because they were dumb they made it completely null and void under my state law, so the only thing I really had was the non-solicitation agreement. A non-solicitation only controls the former employee, not the clients. When I quietly started my own firm, a number of clients left my prior firm who were smart enough to do a Google search for my name. They called me, and that's not solicitation. Epi Lepi posted:Is there really as shortage right now? When I graduated (back in 2011) I was the only one of my friends able to get an actual accounting job and that was only because I went to work at my uncles tax prep firm. My other friends with degrees in accounting could not find jobs in the field. To add to the great answers you already have, I remember that around 10 years ago there was a survey published that showed that 75% of CPAs were within 15 years of retirement age. And the profession has done next to nothing to bring in new CPAs in the meantime. Firms are paring down business and firing clients because they can't keep up with the work. Hell, I have four standing offers to join other firms right now, and three of them restarted the converstation with me in the past two weeks. Right now is an amazing time to be a CPA.
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Aug 2, 2022 18:48
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To go one further on it, I actually remember reading an article a year back where experts expressed severe worry about what the accountant shortage could mean to the stock market. There are sooo few accountants, let alone CPAs, now that there were discussing how this trend could eventually result in severely diminished quality of financial statements. There may not be enough people in the industry in 10 years to maintain the current demands of the system. Of course, the article was being sensational so it won't be that bad but I also haven't seen companies do a thing to change the trend.
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Aug 2, 2022 18:54
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https://news.bloombergtax.com/financial-accounting/accountant-shortage-resignations-fuel-financial-reporting-risks Found the article
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Aug 2, 2022 18:58
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I did not steal clients. I paid for them. The marketing expense the firm pays it what gets new clients in the door, or the seminars that I speak at. Why should I just let staff workers take those clients for a new firm? I absolutely had no qualms about signing one when I was an employee either, for the same reason. I didn't bring those clients in the door. It's one thing if the client request it "I don't want to work with [firm], I want to work with [accountant]" has been honored by my former boss, and I would honor it as well. But why should they get to "steal" what I'm paying for and what I'm building? Edit: In other words, Missing Donut posted:A non-solicitation only controls the former employee, not the clients. When I quietly started my own firm, a number of clients left my prior firm who were smart enough to do a Google search for my name. They called me, and that's not solicitation. I'm 39. I started my accounting career at 30 years old (you can see, it's the very first post in this thread!) making 30k. I didn't make over 50k until about 3 years ago. It shot up quickly to 90k, but I took a pay cut to 65k when I bought this firm, which will at best break even for a few years. I am not the exploitative boomer your raging at. I like you and I'm glad for your new position. But you're wrong on this. Hellblazer187 fucked around with this message at 19:11 on Aug 2, 2022 |
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Aug 2, 2022 19:04
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Hellblazer187 posted:I did not steal clients. I paid for them. The marketing expense the firm pays it what gets new clients in the door, or the seminars that I speak at. Why should I just let staff workers take those clients for a new firm? I absolutely had no qualms about signing one when I was an employee either, for the same reason. I didn't bring those clients in the door. It's one thing if the client request it "I don't want to work with [firm], I want to work with [accountant]" has been honored by my former boss, and I would honor it as well. But why should they get to "steal" what I'm paying for and what I'm building? Listen, like I said, you do you. That said, there are some things you have to think about that will reveal why this whole industry is hosed. Clients are not coins or stones or other forms of inanimate material. They're people. If they choose to go to another business or your former employee, it will always be because they chose to do so. They can't be forced to do so, they aren't property. You can't own clients because you can't own people, as such you can't steal clients because they aren't property. The things that people could do to technically steal them is already illegal, such as stealing client books or pretending to still be affiliated with you or lying that your business closed down. Those are already off the table so the solicitation just puts fear into people trying to leave their current job and makes it difficult for them to obtain what you had. And let's be honest, this practice of nonsoliciation agreements probably doesn't exist more than a decade or two back so its an anticompetitive thing put into place to help those already with power. I feel I am really going to step over the line here so apologize in advance, but, while it might feel good to say "I didn't steal people, I bought them", it isn't like everyone has that option. You need to be able to finance a purchase. Someone can be as smart or smarter than you, as hard or harder worker than, and so on but has bad credit for either their own fault or possibly even not their own fault. Maybe they have family concerns that stop them making such a purchase. Maybe they made some mistakes in college or married a person with bad credit or otherwise got bad credit. Ths this option may be locked away from them. We are born randomly into this economic system and chaos dominates our very life and the system itself is actively hostile. Someone can be unable to do it "the right way" simply due to bad luck and not a reflection of their character. And it's only the "right way" because making everyone do it that way benefits those in power by stripping power from those who already lack said power. Listen, you do you. Seriously. I am not here to start a fight. But if you want to know why I hate this poo poo, it's because its just an anti-competion system made to ensure those who are already winning the game keep winning and make it harder for everyone else. Covok fucked around with this message at 19:27 on Aug 2, 2022 |
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Aug 2, 2022 19:18
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Covok posted:I feel I am really going to step over the line here so apologize in advance, but, while it might feel good to say "I didn't steal people, I bought them", it isn't like everyone has that option. You need to be able to finance a purchase. Someone can be as smart or smarter than you, as hard or harder worker than, and so on but has bad credit for either their own fault or possibly even not their own fault and thus this option is eternally locked away from them. We are born randomly into this economic system and chaos dominates our very life and the system itself is actively hostile. Someone can be unable to do it "the right way" simply due to bad luck and not a reflection of their character. And it's only the "right way" because making everyone do it that way benefits those in power by stripping power from those who already lack said power. This is considerably less "over the line" than the other stuff you're saying. This is 100% right. I don't think of myself as "self made" because I know not everyone has this opportunity or this option. I'm thankful for the opportunity I've been given. Covok posted:Seriously. I am not here to start a fight. You already picked a fight with me calling me exploitative. So you can't say "hey man I don't want a fight but you're an exploitative piece of poo poo." I purchased a firm with significant liabilities and obligations. If a staff member left and was able to undercut me on prices (since they wouldn't have the same obligations) and advertised that directly to clients they already had a relationship with, I'd literally be ruined. I'm not in the US. None of my staff are highly trained accountants. None are CPAs. They're all getting training directly from me. I've given all of them raises this year after season. All of them make significantly more with me than the would anywhere else they could get hired. Nobody at the firm besides me or my business partner works significant overtime. I am not your former boss, not all situations are the same. As everyone has said it's a great time to be a CPA, I could go back to the US and get a job making significantly more than I'm making now - but I have a potential upside if I can turn this business around. So I took a big risk. And I think I'm more than justified in trying to protect myself against that risk.
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Aug 2, 2022 19:32
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It's also worth knowing thatMissing Donut posted:My last firm had both a non-compete and a non-solicitation agreement as a part of my employment. They wrote the non-compete themselves, and because they were dumb they made it completely null and void under my state law, so the only thing I really had was the non-solicitation agreement. This isn't true for my contract. This is how its worded in my contract: quote:
So my agreement literally does stop me from accepting work even if they come to me. I thought they were all worded like that.
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Aug 2, 2022 19:36
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Break out the dueling 10-keys
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Aug 2, 2022 19:37
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It's possible to have non-compete and non-solicitation agreements that are exploitive, and it's possible to have ones that are non-exploitative. It seems like both of you are making this more personal than it needs to be and focusing on your personal experience, rather than the industry practice, which does tend towards the exploitative. I applied for a staff accounting position a few years ago, and the partner who owned the firm spent about half the interview telling me how he was spending a million dollars building a bigger building and putting an apartment on top for himself and fighting with the city council about how much parking had to be present and that since he co-owned the restaurant across the street he should get to count the parking for that restaurant. Then when I wanted to negotiate slightly higher wages and some performance rewards into my contract he went insanely hostile. This overachiever failed out of multiple accounting positions and then somehow got hired at his dads accounting firm and somehow kept getting promoted by his dad who then sold him the firm for way less than it was worth. There were crazy non-compete and non-solicitation agreements I would've been forced to sign if I joined that firm. Obviously I'm doing the same thing, focusing on my personal experience, but I think a lot of the industry treats juniors/staff/seniors really badly and managers not much better.
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Aug 2, 2022 19:43
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Hellblazer187 posted:I'm 39. I started my accounting career at 30 years old (you can see, it's the very first post in this thread!) making 30k. I didn't make over 50k until about 3 years ago. It shot up quickly to 90k, but I took a pay cut to 65k when I bought this firm, which will at best break even for a few years. I am not the exploitative boomer your raging at. I like you and I'm glad for your new position. But you're wrong on this. I assume that you're replying to Covok here, and not me? -- To an extent I agree with you, but there's more to "ownership" of a client relationship than just bringing them into the firm; the relationship must be maintained over the years. At my former firm, a lot of work was pushed down so that the staff were the face of the firm for most of the clients. The owner liked working <20 hours a week during the summer while everyone else (except his daughter) put in 40. It was good for him for a while, but because of the way he operated the goodwill created was not with the firm but the individual staff members. So as we got sick of the bullshit and quit, the clients' link to the firm left with us. And a lot of clients left. The value of the non-solicitation agreement to my former firm was so low because the goodwill was not invested in the firm, but in the staff members. I willingly and fully complied with the valid non-solicitation agreement that I had, but to my former firm, the agreements didn't matter because the firm was in some part no longer offering to the clients what the clients wanted. So keep in mind, as you build your firm, where the client goodwill actually exists. Covok posted:I thought they were all worded like that. Every contract is different. I had a separate (invalid) non-competition agreement from the non-solicitation agreement. Yours looks to have some flavor of both, and you would want an attorney to confirm whether it is actually binding or if it is far too broad in scope to be enforceable in full in your state.
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Aug 2, 2022 19:46
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Hellblazer187 posted:This is considerably less "over the line" than the other stuff you're saying. This is 100% right. I don't think of myself as "self made" because I know not everyone has this opportunity or this option. I'm thankful for the opportunity I've been given. I think the entire concept of captialism is explotative. The entire system is built on Imperialism. Everything we have in our society is built on exploitation of areas like the global south. None of us really earn what we have, nothing is properly valued, and our entire system is built to keep us fighting with each other for scraps so we don't actually recognize our mutual oppression and, even if we did, would be too tired and too overburdened to take action. So, take a moment to consider you're talking to a vocal socialist. I feel I offended you and I really do not want to do that, but I stand by calling it a exploitative practice. I'm sure you're a great boss but it doesn't change the fact that anticompetitive practices are exploiting your position as an employer to remove potential competition. Maybe your agreement is really fair. I'm sure you're an amazing boss and a good person. Missing Donut just said my agreement may be an unenforceable contract that may literally exist to scare us to do nothing and I was talking under the assumption that IS what a nonsoliciation agreement does. Still, while I do feel bad saying this, I have always been consistent in my beliefs on matters of workers rights. I don't want to offend you but I won't compromise my beliefs on the matter either. If it helps, its just worth considering, in my perfect world, there really wouldn't be a concept of a "business owner" in the first place. I kind of hate the very concept and strongly support workers co-operarives. So, if it helps, consider the source.
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Aug 2, 2022 19:55
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Covok posted:It's also worth knowing that That's pretty wild if it's enforceable. What sucks is even if it's not you know your old boss is willing to dish out the attorney fees to at least bluff that it's enforceable. You'd need your own cash to deal with an attorney to respond or a good friend who would do it for free and without those you just have to accept what the boss is pushing.
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Aug 2, 2022 19:58
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Epi Lepi posted:That's pretty wild if it's enforceable. What sucks is even if it's not you know your old boss is willing to dish out the attorney fees to at least bluff that it's enforceable. You'd need your own cash to deal with an attorney to respond or a good friend who would do it for free and without those you just have to accept what the boss is pushing. Yeah, that's why I see this contract as so exploitative. I thought that was a standard nonsoliciation, but I'll accept I am wrong about that. And I have seen her do about 3 to 4 lawsuits on this contract. She lost like two of them, I think, and was only able to get an injunction on one because the guy actually solicited. She bitched how "the judge just sees a big company going after small people and prejudices against us" when, uh, yeah, this is a multibillion dollar publicly traded securities firm going after 3 accountants who continued working with some of their clients after quitting and you had them brought to court in the middle of COVID. Thing is, I don't think the defendants got back their legal fees so the company really won those suits because they did cost the defendants a ton of money. I think she even admitted she didn't care if she won, as long as it hurt them, at one point. That's also why she began actively soliciting those clients with 60% off their prior year fee in one scenario. She even told me it was "to force them to undercut further and lose tons of money." And then exploited my labor to make the plan work.
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Aug 2, 2022 20:09
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Epi Lepi posted:That's pretty wild if it's enforceable. What sucks is even if it's not you know your old boss is willing to dish out the attorney fees to at least bluff that it's enforceable. You'd need your own cash to deal with an attorney to respond or a good friend who would do it for free and without those you just have to accept what the boss is pushing. Yeah, I think it's pretty clear that Covok's old boss was an exploitative rear end in a top hat even by the low standards of public accounting. It hardly matters if that agreement was enforceable (I'm skeptical, but I'm not an attorney), the belief that it might be is enough for the old boss to use it to intimidate current and former employees. I don't think Covok's take on this is all that spicy, in light of how public accounting works in the US. Non-solicitation clauses exist entirely for the benefit of the employer, and to the detriment of the employee. Perhaps there are situations where they are justifiable, if the restrictions placed on the employee are not too onerous and if the employee receives commensurate benefit... but that often is not the case under at-will employment as it exists in most of the US. Covok posted:Yeah, that's why I see this contract as so exploitative. I thought that was a standard nonsoliciation, but I'll accept I am wrong about that. And I have seen her do about 3 to 4 lawsuits on this contract. She lost like two of them, I think, and was only able to get an injunction on one because the guy actually solicited.
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Aug 2, 2022 20:34
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Blotto_Otter posted:Yeah, I think it's pretty clear that Covok's old boss was an exploitative rear end in a top hat even by the low standards of public accounting. It hardly matters if that agreement was enforceable (I'm skeptical, but I'm not an attorney), the belief that it might be is enough for the old boss to use it to intimidate current and former employees. This legal practice is known as In terrorem. It's used by people with power and privilege and their agents all the time.
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Aug 2, 2022 20:37
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Blotto_Otter posted:Yeah, I think it's pretty clear that Covok's old boss was an exploitative rear end in a top hat even by the low standards of public accounting. It hardly matters if that agreement was enforceable (I'm skeptical, but I'm not an attorney), the belief that it might be is enough for the old boss to use it to intimidate current and former employees. The company was originally a single office run by a guy who left his job to do taxes. They all then got finance degrees because they realized how intertwined their work and fiance was. Then they grew super big and sold to a national securities firm. They never shut down the accounting part of it. Every firm is just a gutted zombie office of some local accountant who sold and quit after their mandatory onboarding period was over. It has all the worst elements of a small firm -- no admin staff, severely understaff, wear a thousand hats, accounts receivable and billing is done by a part time receptionist who is severely underpaid -- and all the worst elements of a big firm -- massive layoffs, slow raises, your boss isn't in your office, etc.
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Aug 2, 2022 20:44
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Having a bad day, learnt that one of the job offers I had was World Finance Group, an MLM scheme. Still looking for internship and accounting work. So far everyone wants a 9-5 Monday to Friday and nothing else. Sucks for me since I have classes monday to wednesday and I don't have options to reschedule to late night and weekends. Will try other accounting positions and see what sticks.
Annointed fucked around with this message at 20:57 on Aug 2, 2022 |
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Aug 2, 2022 20:55
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Yeah, sorry I kinda took all that personally. I'm also a socialist, but now I'm a business owner, and I'm having trouble rectifying the two things so I got defensive. Right now none of my staff would be a serious threat to me by opening their own practice - none of them currently have the skills to do it. But I'm training them and yeah, I'd be pretty afraid of them taking all that training and then competing against me, without the burdens of the liabilities the firm accumulated over the years. I mean when I say it would ruin me I'm not exaggerating. But I don't disagree in general with your thoughts on anticompetitive practices. So I have the tension of my "protect myself from crushing debt for the rest of my life" with my general beliefs which more or less match Covok's. So, I'm sorry. Covok you did nothing wrong by sharing that belief, it was wrong of me to take it personally. Covok posted:So my agreement literally does stop me from accepting work even if they come to me. I thought they were all worded like that. I've had maybe like ten to twenty people follow me from my old employer just by googling me. Each time I sent my old boss a message, and he said "OK cool no worries" which is also what I'd do in the same position if the client was the one doing the outreach. Epi Lepi posted:The best protection is building actual relationships with your clients. You WILL lose people every year; clients get old and pass on, move away, and yeah, go to other firms. You need to make sure that your clients like you enough to not move, and more importantly like you enough to want to refer you to their friends and family. Everyone loves to say they've got a guy, you just need to be the guy. Yeah I agree with this too. Hellblazer187 fucked around with this message at 21:05 on Aug 2, 2022 |
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Aug 2, 2022 20:57
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The best protection is building actual relationships with your clients. You WILL lose people every year; clients get old and pass on, move away, and yeah, go to other firms. You need to make sure that your clients like you enough to not move, and more importantly like you enough to want to refer you to their friends and family. Everyone loves to say they've got a guy, you just need to be the guy.
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Aug 2, 2022 21:02
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Hellblazer187 posted:Yeah, sorry I kinda took all that personally. I'm also a socialist, but now I'm a business owner, and I'm having trouble rectifying the two things so I got defensive. It's okay. I had a feeling this was the case but I stopped myself. You felt I was calling you a bad person when I stated my beliefs on the practice. A part of me gets it. Like, part of my reason for ditching public accounting is my dislike for how exploitative it felt at times. Heck, want a relatable story? I was in a tabletop game and someone went on a rant about how taxes could be done return-free-filing like in other countries and how our industry were leeches and vultures. He didn't know my occupation. And that really hurt me and made me upset. I brought it up in private and they said "You're cool and we all got to eat and its not your decision to make this the status quo, you're not lobbying congress to make it this way." I then almost felt silly because it's not a bad point. Like, no matter what company I work for, I'm going to be a part of something vile. There are very few exceptions to this fact. But you don't get mad at the part timers frying chickens at Chick-Fil-A or go out of you're way to treat them bad for their homophobic parent company, you just don't buy from the company itself instead, you know? So, I get it. This entire system is designed to put us on the back foot, treat us awfully, keep us fighting each other, and make us loose our morals to survive. It's a feature, not a bug. It ensures only the worst of us, the ones who propagate such an immoral way of life, thrive and make it to the top to perpetuate the evils of our world. And even good people have to do bad poo poo sometimes. The point is that this entire system blows and it makes us all do poo poo we wouldn't do if we are allowed to be true to our own morals. Captialism sucks. Anyway, to change topics for a bit to something lighter, I have been telling all my other offers that I am good and signed a written offer and the response is weird. Some of these people ignored me since May but now they're like "no, maybe we can do better though. Don't just stop now." It's like "if you wanted me, why did you wait?" Same thing with my resignation. My coworker came in and was like "not to influence your decision, but this is the best management I ever had, not like my old job." Like, I put in my letter and my last day, what do you mean "decision?" And my receptionist was having a heart attack before she left. "What if they shut down the office because you're leaving?" I couldn't help myself from going "if my departure shuts down this entire office, then this place was mismanaged." I'm just an accountant, not a senior accountant or a manager. If this place was staffed so poorly and work was divided so shittly that one low level accountant leaving shuts down this entire branch office, an accountant only making 60k on Long Island while the office makes 10x that in topline revnue and 5x that in profits, then the office shouldn't exist. I didn't say this part. And then I was like "you can't expect me to stay forever." "Well, I stayed at my job forever. Well, until they fired me." And I wanted to go "yeah, that's proof why you shouldn't have stayed with one job. They underpaid you for your entire life and then dumped you the second you were inconvenient and now you went from salaried to barely above minimum wage." But I stopped myself. She's nice so I didn't want to hurt her. But it just flabbergasted me how she could say that. It's also weird how everyone is like "really? You're going to private." I didn't tell a sole it's a HUGE raise so maybe they think it pays less. But they all find me saying "yeah, the hours were a little much" like a silly statement. This one might fall on deaf ears here but working minimum 9 to 8 M-F and o to 5 Saturday for 3 months is a lot, especially since it was usually closer to 9 to 10pm M-F, 9-7pm Saturday, and 9-3pm Sunday in practice.
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Aug 3, 2022 17:55
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How is the pay getting into govt accounting? I want to do that because my ideal job is to work exactly 40 hours a week, not a second more, and have a union, and that seems like the path for that. Is the pay alright? I know it obviously and assuredly varies heavily by what part of the govt you're in.
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Aug 3, 2022 18:11
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Nea posted:How is the pay getting into govt accounting? I want to do that because my ideal job is to work exactly 40 hours a week, not a second more, and have a union, and that seems like the path for that. Is the pay alright? I know it obviously and assuredly varies heavily by what part of the govt you're in. The pay is low compared to industry/private wages but you work 40 hours a week and once you've been there a while you have very good job security and benefits, and you can transfer back and forth between government positions with ease. If you go to the right state there can be really good pension plans, assuming you can collect a pension while you fight off the raiders and gather bottle caps.
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Aug 3, 2022 18:18
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Covok posted:Heck, want a relatable story? I was in a tabletop game and someone went on a rant about how taxes could be done return-free-filing like in other countries and how our industry were leeches and vultures. He didn't know my occupation. And that really hurt me and made me upset. I brought it up in private and they said "You're cool and we all got to eat and its not your decision to make this the status quo, you're not lobbying congress to make it this way." I then almost felt silly because it's not a bad point. Like, no matter what company I work for, I'm going to be a part of something vile. There are very few exceptions to this fact. But you don't get mad at the part timers frying chickens at Chick-Fil-A or go out of you're way to treat them bad for their homophobic parent company, you just don't buy from the company itself instead, you know? The US tax accountancy lobby spends a lot of money making sure that the US tax code stays complex and the IRS doesn't prepare our taxes for us. You're not a bad person for being a part of that industry necessarily, but if more staff accountants refused to join that profession eventually the pyramid would collapse and the undead boomer pharoahs would no longer have the duckets with which to bribe congress, and like life would just get better for all Americans. The stress most normal people go through with taxes and the amount of poor people who fail to collect their EI credit and stuff.
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Aug 3, 2022 18:28
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pseudanonymous posted:The US tax accountancy lobby spends a lot of money making sure that the US tax code stays complex and the IRS doesn't prepare our taxes for us. Then, it's a good thing I'm out. Though, mainly I thing the benefit my departure will bring is mostly internal. My willingness to work hard and do what I'm told allowed me boss to treat others like poo poo and pay less and I'm ashamed of that. Without me as a crutch, they'll be forced to hire more, pay more, or collapse. And, if they collapse, that means yet another accounting office is out and that might lead to what you're saying.
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Aug 3, 2022 18:38
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just became a partner at my tiny firm woo e: when is the tenkey duel i want to livestream it black.lion fucked around with this message at 15:06 on Aug 4, 2022 |
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Aug 4, 2022 15:01
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I just learned today that those little pads with just the numbers on on your keyboard is called a tenkey.
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Aug 4, 2022 16:58
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black.lion posted:just became a partner at my tiny firm woo Covok posted:I just learned today that those little pads with just the numbers on on your keyboard is called a tenkey. Sometimes I worry about you covok
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Aug 4, 2022 17:38
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Good Citizen posted:Sometimes I worry about you covok
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Aug 4, 2022 17:46
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Congrats black lion! I'm giving my presentation to the partner committee in September, nervous as hell.
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Aug 4, 2022 17:46
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thanks y'all!PatMarshall posted:I'm giving my presentation to the partner committee in September, nervous as hell. YOU GOT THIS!!!! 
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Aug 4, 2022 20:39
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Hey figured this might gain some traction here instead of the homework thread. I keep on coming up with asset equaling $751,700 (which is correct) but liabilities and owners equity comes to $781,700. The delta is $29,400 which is all the expenses, but expenses don’t show up on a balance sheet, right? Any ideas?    nwin fucked around with this message at 18:06 on Aug 5, 2022 |
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Aug 5, 2022 17:43
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Appro of nothing, today I was asked to make a tally of my incomplete work. If I stayed, assuming no new clients, I would have prepared 686 Tax Returns throughout the entire 2021 tax year. 106 S-corps/Partnerships/C-corps 567 Individual returns 13 Trust/Estate Income Tax Returns For the record, I get no commission and my bonus was always at the discretion of my boss and the new owners added a strict requirement of continued growth to receive it. I was always curious how that compared to others. For the record, that would be me, alone, without assistance from others whatsoever. The office does more overall. It, however, does not include all the returns I help my boss complete. Covok fucked around with this message at 18:12 on Aug 5, 2022 |
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Aug 5, 2022 18:05
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nwin posted:Hey figured this might gain some traction here instead of the homework thread. I looked at this for like 30 second before reaching for my ‘waive for materiality’/i don’t give a poo poo tickmark I think I’ll just sit here and be grateful I’ve passed all my cert exams and don’t need to do this crap anymore
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Aug 5, 2022 18:19
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nwin posted:Hey figured this might gain some traction here instead of the homework thread. You would show it either as net loss for the year or just in retained earnings. Idk how your class wants you to present it.
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Aug 5, 2022 18:28
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nwin posted:Hey figured this might gain some traction here instead of the homework thread. Did you capitalize the costs of getting the equipment ready to service? When you buy a fixed asset any transport costs or repair costs or installation cost are capitalized not expensed. I cant.. if you put it in a google spreadsheet I'll look at it but I'm not trying to blow up an excel screen shot  I do like that you put a notation for each line item on the lefmost column, tbh that methodology of tracking what you're doing is more important than getting the answer right here.
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Aug 5, 2022 18:31
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Epi Lepi posted:You would show it either as net loss for the year or just in retained earnings. Idk how your class wants you to present it. Gotcha thanks-since there were no sales/revenue it would count as a loss and be in owners equity. Thanks!
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Aug 5, 2022 18:31
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