Accountant Megathread - At Least We're Not Actuaries

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Accountant Megathread - At Least We're Not Actuaries

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

I'm going to have all my accounting credits for the CPA exam in the summer, and will be madly seeking some kind of job in the meantime. I will let you know how it goes?

Also this quarter I am taking a 400-level class in tax, and it turns out I really enjoy it??? oh god what have I become :psyduck:

# ¿ Nov 14, 2009 02:58

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# ¿ Apr 19, 2024 22:30

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Mr. Big posted:

I graduated this June with a B.A. in Economics and have been interested in becoming an accountant. Do I need to get a Masters in Accountancy? Can I just take accounting courses at a community college and take the exam? Does it make a difference?

Depends on what state you live in and what you want to do. Unless you live in California (or Oregon like me :smith:

) you can go out tomorrow and start charging people to prepare their tax returns if you want to. If you are in OR or CA, or you want to be a CPA, there are school requirements before you can take the appropriate exam.

# ¿ Nov 17, 2009 08:16

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Also get a loving internship or you will want to kill yourself. Realpost.

# ¿ Nov 17, 2009 10:15

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Kinson posted:

*disclaimer: what tax accountants find interesting may not be the same as what normal people find interesting.

What do you mean, other people don't read Circular 230 for fun???

# ¿ Nov 18, 2009 07:46

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Hellblazer187 posted:

I got a D- in calculus the first time around (my midterm was on 9/11. I didn't study for it but that was a great excuse). So I have to re-take that. Anyone got any websites that can help me learn algebra in a month?

who the heck has midterms the second week of september?

# ¿ Dec 16, 2009 00:19

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Any of you knuckleheads have experience with nonprofit accounting? I am working on this statement of financial position (i.e. bizarro balance sheet) and it is driving me batty. The way the template is set up is this:

quote:

Assets: xxx
Total assets:

Liabilities: xxx

Net assets:
Current surplus/(deficit): xxx
Unrestricted net assets: xxx
Temporarily restricted net assets: xxx

Total liabilities and net assets: xxx

But in other SFPs I've looked at, there is no line for current surplus/(deficit) in the net assets section. And I can't figure out how to make the thing balance with it there. What the hell.

# ¿ Dec 23, 2009 10:35

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Kinson posted:

You didn't take fund accounting in college?

Next quarter

AbbiTheDog posted:

Most SFP will list the current surplus on another statement (sort of like the income statement), instead of putting it on the SFP (balance sheet).

Right, that's what I thought too. But these people have it set up so that the current surplus is listed on the statement of activities (like you said)... except then it flows through to the SFP and I have no idea why.

Maybe I will just take it out and e-mail them back saying "I changed your poo poo, per FASB 117 :smug:

# ¿ Dec 23, 2009 21:03

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

AbbiTheDog posted:

Aaaaand you'll look like someone who is a day late and a dollar short. The FASBs are now gone effective for statements 9/30/09 and later.

Look up the accounting codification standard now if you want to be

Well it's an exercise, and all the dates given are in 2007... owned much???

But the ASC (958-210-45, if you're playing along at home) says the same thing. So who knows what these people are thinking.

# ¿ Dec 24, 2009 21:35

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

You can also look for something like the program I'm taking, which is basically like a master's of accounting except you don't end up with a master's degree

# ¿ Jan 16, 2010 22:44

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Mandalay posted:

I hear there are goons in *this very thread* offering to help you for free! (I guess it's for the CPA experience requirement?)

Just to get out of the house really. Otherwise I might get sick of Civ4 and that would be a tragedy.

# ¿ Mar 10, 2010 03:57

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Mandalay posted:

OT: this may interest you http://www.eurogamer.net/articles/sid-meiers-civilization-v-preview

Hexes? Oh man I am loving dead

# ¿ Mar 10, 2010 07:57

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

interviewing for internal revenue agent on tuesday, wish me luck

# ¿ Jul 10, 2010 09:12

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Ribsauce posted:

If I was a recruiter and you told me that I would hear "I really want to do tax but I will take an audit job and quit the second I find a tax job here or somewhere else" or "I will take the audit job and be miserable the entire time because it was not what I wanted to do, so I will not be invested in it"

As someone who feels the same way (I want to work in tax but I would muddle through if I were in audit instead), is there a better way to thread that needle with a recruiter? Or do you just have to go all in one way or the other?

# ¿ Sep 4, 2010 01:44

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Johnny Longtorso posted:

I'm graduating at the end of the year and I have no idea what the hell to do. The local job listings are all "accounting clerk" positions that don't seem to require a functioning brain (and pay accordingly) or positions that require a CPA and/or 5 years of experience. The only one of the Big 4 around here is KPMG. I can't do an internship because I work full-time. Am I just screwed?

this is basically my exact situation. except you left off the "campus recruiting" cattle call where every firm gets 150 applicants for 10 interview slots for 2 jobs. I figure my options at this point are basically 1. wait out the economy, 2. give up, or 3. hit Abbi with a brick and steal his practice.

# ¿ Nov 9, 2010 03:06

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Well you use water every month so you have to recognize an expense every month. So try something like:

pre:

1/1/x1 Utilities Expense 100
         Utils Payable         100

2/1/x1 Utilities Expense 100
         Utils Payable         100

If you get a bill in February for $200, awesome, you can credit cash and debit the liability and call it a day. If the amount doesn't match, just credit cash for however much you paid and use Prepaid Utility Expense as a plug:

pre:

2/15/x1 Utils Payable   200
         Cash              200

OR

2/15/x1 Utils Payable   150
         Cash             150

OR

2/15/x1 Utils Payable   200
        Prepaid Utils   100
            Cash          300

Then you can apply the prepaid expense (reducing liability) for the next period.

scribe jones fucked around with this message at 01:43 on Sep 14, 2011

# ¿ Sep 14, 2011 01:39

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

abagofcheetos posted:

Have you ever tested goodwill for impairment... ON WEED???

I explained the Cohan rule on weed at a party once :coal:

# ¿ Oct 6, 2012 19:28

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Holy gently caress, launch ProSystem fx into the goddamn sun.

# ¿ Feb 15, 2014 03:43

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Left the office before 8, who's jealous?

# ¿ Mar 7, 2014 05:12

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Slapping a partner is probably bad form, right? Asking for a friend.

# ¿ Mar 13, 2014 04:20

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Euphoriaphone posted:

I have my first day tomorrow as an audit intern (large local firm. Remnants of a Big 4 after they pulled out of the market). I've never had any kind of accounting or bookkeeping job before. I have no idea what to expect. First week is training (computer systems and methodology), and by the end of the week I'll have my first client assignment. I've heard I'll probably be auditing something like cash or fixed assets. How does that usually work?

You're hosed.

# ¿ Jun 16, 2014 20:30

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Euphoriaphone posted:

The firm I'm interning with uses ProSystem Engagement software. Is that common in the industry?

Yeah. PROFESSIONAL ADVICE: remember to check out your workpaper before you start on it, or else ten hours later when you go to save it you will feel like the biggest moron in the universe

# ¿ Jun 22, 2014 15:29

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Turd Nelson posted:

How's everyone's busy season going? So far my firm has had two accountants with 7 and 15 years of experience leave the industry and we've had to fire two administrative positions for various reasons. Despite being down four people, we've somehow managed to get more returns out the door while at the same time people are working fewer hours than last year

We have two new staff people, one of whom is good and one of whom is useless, and one new manager who is so stupid I cannot believe he is capable of tying his shoes in the morning. I'm pretty sure all he does in his office all day is watch live streaming cricket matches (?!?!)

# ¿ Mar 29, 2015 19:25

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

I dropped down to an hourly part-time gig this year. Busy season ain't so bad if you're only working 30 hours a week, as it turns out.

# ¿ Feb 28, 2016 20:24

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Kinson posted:

I'm leaving tax for a private company Controller position. Oh happy days! I put in my 2 week notice Monday and next week will be my last, but I'm seriously considering just taking next week off.

No tax season for me this year suckers!

you'll be back. they always come back.

(congrats!)

# ¿ Dec 2, 2016 21:07

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

sale on Banksy art posted:

I'm doing some individual tax returns for clients this year. Any recommendations for small time tax preparer software. I was looking at Intuit.

the Intuit cloud software (which used to be Intuit Tax Online and now is called something else) is totally useable and pay-per-return. hard to imagine anything else being a better fit for someone who's only doing a handful of 1040s.

# ¿ Feb 10, 2017 03:45

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

Diplomat posted:

People drink some otherworldly amounts of alcohol at work parties.

At the April 15th party last year, a guy got the entire firm 86'd from the bar because he mouthed off to the bartender that had just cut him off.

he's a partner

# ¿ Mar 29, 2017 05:52

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

untzthatshit posted:

I've got a tax question, and while I am an accountant I am not really a tax guy and definitely not a "knows how to deal with foreign income" type of tax guy so please forgive my ignorance:

But my brother asked me to help him with his tax returns this year. He is a dual American/Canadian citizen living in Canada and he hasn't filed his 2018 or 2019 US tax returns. That's what he wants my help for (along with 2020's) so he can get caught up.

It should be pretty simple, all his income was earned in Canada and he's lived there the whole time. I know the tax treaty between US and Canada basically says you only need to pay tax in the country of residence but that you still have to fill out a Form 1040 every year anyways. Looking over the 1040 I'm just not sure how you designate that Canadian income tax was paid... There's the schedule 3 for a foreign income tax credit but I think that's for countries where there is no tax treaty right? Or maybe I'm wrong and you are supposed to fill out the 1116 to calculate the credit then put it on the schedule 3 then put that on the 1040?

Anybody have any experience with this sort of thing or know what I'm missing?

Form 2555 is what you�re looking for here.

# ¿ Mar 11, 2021 22:44

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# ¿ Apr 19, 2024 22:30

scribe jones: Sep 17, 2008; One of the key problems in the analysis of this puzzling book is to be able to differentiate a real language from meaningless writing.

School of How posted:

Actually, the stash I plan on selling came as payment for building a freelance software project for a well known cryptocurrency exchange. They paid me in BTC in 2014, and I've just held it all this time. So the basis for it is I guess $0.

nope! your basis is the value of the BTC when you received it in 2014. (and you remember to report that same amount as income back in 2014, right?)

# ¿ Apr 14, 2021 20:48

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Accountant Megathread - At Least We're Not Actuaries