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Hellblazer187 posted:I wish I was a rapper so I could drop a sick diss track on the IRS large business and international division. They are being a pain in the butt
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Mar 18, 2023 22:45
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tony quidtana posted:I did the exams. You're aware of the pass rates for the exams right? no what are they
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Mar 20, 2023 10:37
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pseudanonymous posted:That's not correct, most jobs heavily prefer the CPA, but more an more I'm seeing CMA listed and I've even seen jobs lately that prefer the CMA or list the CMA and not the CPA as preferred or required. Yeah this is right. If you took two candidates who were completely identical except one was a CPA and one was a CMA; most people would probably lean towards hiring the CPA. But you're never going to have two identical candidates and you've gotta think of what job you're applying for. An industry job is probably looking for some sort of acronym behind your name but is going to care a lot more about relevant experience and skills than whether that acronym contains a P or an M in the middle. Meanwhile if you're applying for a tax gig, well then they're probably gonna expect you to come with a CPA. I always say, if you're at or near the beginning of your career and trying to decide between the two, then just suck it up and do the CPA. But if you're 5+ years into it, already in industry and not likely to transition to public, you'll have no problem if you choose the CMA instead. Source: am a CMA who beat out several CPAs for current job.
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Mar 20, 2023 19:31
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black.lion posted:no what are they  https://www.cfainstitute.org/en/programs/cfa/exam/results-info Not trying to scare you or anything but I've seen first hand plenty of people underestimate the CFA exams and get their asses handed to them. When I wrote level 3 I thought I was doing bad but then there was a guy on the steps outside having a mental breakdown crying during the break and I thought maybe I wasn't doing too bad lol
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Mar 20, 2023 20:26
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tony quidtana posted:
lmao im such an idiot i meant CFE youre 100% on point tho i dont want to take those exams no ty, i did my hard exams for this life
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Mar 21, 2023 02:07
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tony quidtana posted:
its the drug withdrawal not the exams
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Mar 21, 2023 03:18
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Finished the Capstone 1 presentation on Saturday. We don't find out our results until tomorrow, but if they don't let us know the next day if we have to re-present that means it's a "no news is good news" situation. On to Capstone 2, and the CFE on May 30-June 1! Nervous, but supposedly it's a 70-80% pass rate, and the failures include a lot of no-shows and technical issues. Next-day edit: Woo, confirmed I passed Capstone 1. I get a week's breather before we get thrown right back in on the weekend of April 1-2 for a mandatory online 9-4 workshop. ...in the middle of tax season. mojo1701a fucked around with this message at 19:18 on Mar 24, 2023 |
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Mar 23, 2023 18:42
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Covok posted:I decided to look into my old job and I found them advertising for my position. 65k to 95K. That reminds me when they said they couldn't give me a 10% raise this year. They put me at 60k. Now, I make 90k and work less hours. And knowing my boss, she absolutely chose that huge price range to trick people in the door and negotiate them as close to 60k as possible. Every time I check Indeed for new positions in real estate accounting field I see my old job that fired me November 2019 right before covid hit, which enabled me to already be on unemployment when they added $600 to weekly payments and sit on that for a year until finding a new job. They've had a Senior Accountant job listing permanently on Indeed since I left so obviously have not replaced me. I asked for a raise and the CFO gave me $5k and then I think the owner told him to let me go instead, I was also younger and more of a degenerate. Private real estate is always going to underpay their accounting team if possible/never give anyone a promotion or raise because they think they don't have to or that they can replace anyone. I like working for the top 20 accounting firm I'm at now because they actually have yearly reviews with bonuses & promotions, got an 11% raise after my first yearly review. Working for multiple private real estate clients as a virtual controller is more stressful than just being employed directly by one but I value being able to work from home & having the potential for promotion.
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Apr 5, 2023 19:50
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knox posted:Private real estate is always going to underpay their accounting team if possible/never give anyone a promotion or raise because they think they don't have to or that they can replace anyone. You're saying I did a good thing rejecting the job offer I got recently to work for a real estate company? Thank God for my audit experience requirement (and that I'll need more than a base increase of $20-30k to enjoy living in Toronto)
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Apr 6, 2023 16:15
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Does anyone work with Deloitte consulting, or know if BFC has a consulting thread?
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Apr 6, 2023 18:12
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pseudanonymous posted:Does anyone work with Deloitte consulting, or know if BFC has a consulting thread? Work with as in work ‘for’, or have experience contracting them to do work? I have some of the later. Not sure what I can really say other than their work quality was generally good
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Apr 6, 2023 18:27
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Good Citizen posted:Work with as in work ‘for’, or have experience contracting them to do work? Work for, I think I want to go work for Deloitte consulting in about 3-6 months and I want to try to start networking my way in.
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Apr 6, 2023 18:40
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I'm going back on the job hunt. The company culture is toxic and the money is mismanaged. I was originally going to tough it out for one year before looking, but recent events have pushed me to dip my toes. I don't think they'll go under, but they lost access to their lines of credit. We don't know when they'll be turned back on. I think the bank failures caused the review because one of the banks that failed was big in the industry, according to our tax accountant, and I bet our bank now wants to see how we are doing before they'll reactivate our credit. It has caused a cash crunch. One owner stepped up and put some money in to keep us going and we managed to push some contracts to pay up sooner to keep us going, but, if the lines of credit dry up for good, I'm not sure how we'll continue.
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Apr 6, 2023 22:46
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Covok posted:I'm going back on the job hunt. The company culture is toxic and the money is mismanaged. I was originally going to tough it out for one year before looking, but recent events have pushed me to dip my toes. I don't think they'll go under, but they lost access to their lines of credit. We don't know when they'll be turned back on. I think the bank failures caused the review because one of the banks that failed was big in the industry, according to our tax accountant, and I bet our bank now wants to see how we are doing before they'll reactivate our credit. It has caused a cash crunch. One owner stepped up and put some money in to keep us going and we managed to push some contracts to pay up sooner to keep us going, but, if the lines of credit dry up for good, I'm not sure how we'll continue. Well, poo poo. Sorry to hear that and best of luck on the job hunt.
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Apr 6, 2023 23:40
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Missing Donut posted:Well, poo poo. Sorry to hear that and best of luck on the job hunt. Yeah, it's weird too. My boss keeps saying they've been through worse and not to worry, but was also commenting how two of the owners have started to focus more on their individual side investments more than the business.
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Apr 7, 2023 00:16
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pseudanonymous posted:Does anyone work with Deloitte consulting, or know if BFC has a consulting thread? i think our consultant types just post in the corporate thread
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Apr 7, 2023 00:22
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pmchem posted:i think our consultant types just post in the corporate thread I was a consultant at a mid-market public accounting firm and felt very at home in that thread, I’d recommend asking in there.
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Apr 7, 2023 03:38
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mojo1701a posted:You're saying I did a good thing rejecting the job offer I got recently to work for a real estate company? Thank God for my audit experience requirement (and that I'll need more than a base increase of $20-30k to enjoy living in Toronto) Depends on the position but yeah, private real estate accounting there's no room for growth or promotions as part of the team under the CFO and/or controller. The team could be as small as 2 people (AR & AP) or as many as 8+ depending on the size of the company/how many buildings they own or manage, and senior accountant isn't really a title I've seen much. But the job I mentioned that fired me did give me great experience to manage the entire YARDI database (property management software). While putting in support tickets for various issues, which was one of my responsibilities as the database admin/point of contact for YARDI support, half the time they'd respond with something that did not even apply to my question or problem I put ticket in for. Eventually I just started reading the manuals available on their 'client central' and taught myself the poo poo to level I could fix my issues without asking for support, unless it was some backend issue that programming had to handle or investigate. Yesterday while talking to my manager who was only hired 2 months ago about task she was given to meet with a potential client and do an internal controls review for them. She was talking to me about it and how it was a poo poo show with no money who probably cannot afford our firm, but were paying for this limited internal controls review to improve operations. I asked her where the business was she said Brooklyn and then I asked what the company was since I just had a feeling, working multiple Brooklyn private real estate companies, that it could be one of them. I laughed out loud when it was the same company I mentioned in my last post that fired me in 2019 after I asked for a raise. As I mentioned they never replaced me obviously, so I'm pretty positive nobody has a clue to operate YARDI on the level I was for them, & I searched LinkedIn for the CFO and he left January 2022 apparently so the business is in shambles/they can't manage cash. Now I'm making 50% higher salary working from home with an accounting firm I actually like, funny how life works out. I gave her the scoop that I did daily cash positions as requested by CFO & handled all the bank recs, since she said they can't manage cash or the cash flow is so low they have to really keep eye on the daily cash positions to make payroll & pay bills. This isn't really unique to them though, covid hosed a lot of things up and created a ton of turnover in all job fields. A lot of the companies that end up becoming clients of the Outsourced Accounting team I work for, our biggest client anyway which I'm the senior accountant on, went through like 3 controllers in 2 or 3 years and his books were all hosed up because of that sort of turnover & employees not having the proper training on YARDI or the oversight of a controller/CFO. We provide virtual controller services, overseeing their in-house accounting team, posting all bank recs, along with AP & technology support, etcetc. knox fucked around with this message at 02:32 on Apr 9, 2023 |
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Apr 9, 2023 02:19
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If someone had told me to focus on internal controls reviews and recommending control frameworks to clients, I would have lasted a lot longer in public accounting. Testing controls is for suckers, stick to the theoretical stuff.
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Apr 9, 2023 02:42
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Cross-border tax question: one of our clients is retired and receives Social Security. His 5-year-old child also received SS benefits in 2022. From what I've been able to figure out thankfully the child doesn't need to file a 1040 because their benefits are under $25k (incl. similar CPP benefits). It's a benefit given to a child because they have a parent receiving SS through retirement. Here's my question: is there any other reason they could be getting more than 50% of the parent's benefit? I don't think the child is disabled nor is the parent dead (duh). I thought it might be retroactive because the father got SS last year but the kid didn't, but the total still goes over 50% (eg. he earned $10k in 2021 and $20k in 2022, and the kid earned $17k in 2022). It's also entirely possible the father may not have given us his SS slips for 2020.
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Apr 12, 2023 16:05
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Democratic Pirate posted:If someone had told me to focus on internal controls reviews and recommending control frameworks to clients, I would have lasted a lot longer in public accounting. Testing controls is for suckers, stick to the theoretical stuff. Testing controls is just an excuse to get out of doing any actual audit work. Everyone does it and it's such horseshit. Audit quality has gotten so much worse even in the decade since I left.
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Apr 17, 2023 23:56
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Overall not a bad season. Finally got a fairly settled book and it makes it so much easier.
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Apr 18, 2023 00:22
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Filed my final in-season return earlier, got a few clients on extension but everyone is good to go. Very small season since I just went out on my own, but I'm happy with it.
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Apr 18, 2023 06:05
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On last weeks of job due to season being nearly over. Hoping I get hired in house. If not I at least get the joy of having both live tax experience for poor people and working accounting for higher up corporations. If I can leverage it right I can even make sure my future CMA and CPA will go well.
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Apr 18, 2023 06:56
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My season is still just starting because we're on the extended June 15 deadline here, but ProConnect is loving killing me this year. They want $95 per return for about 30 returns, which with the horrible exchange rate these days, is more like $130 from my perspective. It used to be $45. I'm not sure what the strategy here is. Run small guys like me out of business to drive my clients into the arms of TurboTax? I'm more likely to just switch to Drake than give up altogether, although I'd really rather not change software, especially in the middle of tax prep season. There were promotional emails earlier but the codes didn't work and they refuse to honor them.
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Apr 18, 2023 07:01
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Gabriel Grub posted:My season is still just starting because we're on the extended June 15 deadline here, but ProConnect is loving killing me this year. They want $95 per return for about 30 returns, which with the horrible exchange rate these days, is more like $130 from my perspective. It used to be $45. Wow that is absolutely criminal.
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Apr 18, 2023 07:38
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Gabriel Grub posted:My season is still just starting because we're on the extended June 15 deadline here, but ProConnect is loving killing me this year. They want $95 per return for about 30 returns, which with the horrible exchange rate these days, is more like $130 from my perspective. It used to be $45. Well, Intuit owns both ProConnect and TurboTax, so it isn't a huge surprise to me that the company that is unethical on the non-professional side is also unethical on the professional side. Sorry to hear that you're on the wrong end of it. I'm not entirely happy with UltraTax this year, but if nothing else they are at least honest about their pricing. The state of professional tax software is terrible right now. Under private equity ownership, Drake is moving toward premium-tier pricing with their not-entirely-premium product and I've noticed increasing complaints about them this year. Intuit is Intuit. UltraTax seems like it's decaying with both product and personnel. So then you have CCH, but I expect you wouldn't be happy with their pricing either.
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Apr 18, 2023 16:57
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welp another one in the books, now i have 8 full months to dread next tax season
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Apr 18, 2023 21:01
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I'm also a June 15 guy. We use Ultratax and they've been extremely lovely this year. Worst $20,000 I've ever spent. Will definitely look at Drake this July. Drake sucks, though.
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Apr 19, 2023 22:35
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CRA strike doesn't affect my filing, but it sure as hell helps the audit that I had due yesterday. To be fair, the agent said even though the due date to submit a response was the 18th and he wouldn't be back in until the 19th, it gives me pretty much a definite extension.
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Apr 19, 2023 22:37
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Trying to shake off depression of last weeks of job before I gotta job hunt again.
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Apr 19, 2023 22:42
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I'm going to install Drake and put new, simple clients on it. It only takes 4 paying clients to make the cost worth it versus Proconnect, and it comes with 10 filings included. I'll keep the old/complex clients on Proconnect for now to minimize the pain of learning new software while getting a feel for if Drake is for me.
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Apr 20, 2023 05:19
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Gabriel Grub posted:I'm going to install Drake and put new, simple clients on it. It only takes 4 paying clients to make the cost worth it versus Proconnect, and it comes with 10 filings included. That's the smart thing to do. You have to use the software on real returns to know if it will work for you. When I was using Drake, it allowed you to set up test returns in the software within a certain range of EINs and SSNs, so you can also test out your harder returns without burning a per-return filing fee. My experience with Drake is that it's usually fine for simple and intermediate-level federal returns but state situations tend to be more finicky and the depreciation module is dire.
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Apr 20, 2023 15:08
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Follow-up: Turns out that no, the public sector strike doesn't affect auditors, so I still have to deal with an audit while finishing tax returns before May 1. All while studying for the CFE in just over a month.
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Apr 24, 2023 15:59
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Wait there's a strike?
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Apr 24, 2023 16:25
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Annointed posted:Wait there's a strike? Up here there is. Apparently there's picketing in front of Canadian government buildings.
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Apr 24, 2023 16:44
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If I apply for admission into CPA PEP do I have to enrol in Core 1 right away or can I just sit in the program without registering for anything? I really just don't want to take anything right now and just want to make sure my old university courses don't expire.
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Apr 24, 2023 21:26
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tony quidtana posted:If I apply for admission into CPA PEP do I have to enrol in Core 1 right away or can I just sit in the program without registering for anything? I really just don't want to take anything right now and just want to make sure my old university courses don't expire. Much like Potsie, you can definitely sit on it. From what I remember, there's a 6 year window from enrollment to completing the PEP program, but you can in fact take time off here and there. As for expiring university courses, I think once they're accepted as CPA equivalent credits, they don't expire (provided you enroll into PEP) as long as you don't want for the PREP 6-year window to close as well. Hell, I got my Mohawk College credits applied against CPA PREP credits because I applied via CGA (very brief window that I thankfully was able to slide through in 2014 where CGA took Mohawk and CPA took CGA, but CPA won't take Mohawk) and am still in PEP right now. Man was last week brutal. An 85-minute Day 3 case due on Friday, a 4-5 hour Day 2 case due Saturday, and three 70-85 minute Day 3 cases due Sunday. I ended up blowing off one of the Sunday ones, but thankfully this week is pretty light. Good thing too since I'm swamped with tax returns.
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Apr 25, 2023 22:09
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ya I just want to make sure my university courses don't expire so I don't mind sitting in the program for a while. I got one PREP course left then I want to take a break and then just start knocking PEP out next year if I decide to go through with it. I'm only doing PREP but the deliverables thing is kinda driving me nuts and it sounds like PEP is just as bad if not worse. I get that they're trying to walk you through passing the exams but I've already got my preferred study method and dicking around with assignments that have oddball outlier questions really is a hinderance to me if anything.
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Apr 26, 2023 21:40
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tony quidtana posted:ya I just want to make sure my university courses don't expire so I don't mind sitting in the program for a while. I got one PREP course left then I want to take a break and then just start knocking PEP out next year if I decide to go through with it. I used to specifically skip PEP modules during tax season because... well, I work in tax and was putting in overtime. It's definitely doable. Just remember that once you start Capstone 1, you're basically committed to writing that CFE sitting. If it wasn't for the fact that my boss is retiring later and they're transferring me to the other office in the next few months, I would've delayed until the September 2023 CFE, but I'd rather miss a few assignments and deal with work than have to deal with a move and a new office if I'm also studying for the CFE. Good thing they don't really expect you to study. If you don't understand how to search the provided IFRS/ASPE standards to create an answer for the financial reporting standards by now, then you can't be helped (though you should keep an eye out on recurring themes like revenue recognition. I missed some of that on one exam because I forgot about "acting as an agent"). I just hope they don't ask me to actually calculate corporate or personal taxes. Planning is fine, and adding up taxable income is fine, but if I have to sit there and actually determine the federal rate less general reduction plus alternate refundable tax less small business deduction/abatement, and then the ERDTOH/NERDTOH, AII, etc. Holy poo poo is it ever a lot and takes a LONG time to do. That's why I have software to do it at work.
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Apr 27, 2023 01:13
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