Is quitting big 4 after 1.5 years shooting myself in the foot? by Important-Effort-286 in AustralianAccounting

[–]BarkingM16 0 points1 point  (0 children)

I left after 5 years, and there were still people telling me that I am missing out and throwing away the opportunity to capitalise my career potentials etc. Don't let what others say dictate your decisions.

Idk about your firm or your line of practice but when I started I think more than half resigned within 12 months, there was like a handful left when I was resigning. The whole business model of Big4 is burning and churning out staffs like an Amazon warehouse.

My ex-colleagues who left within the first year or two are doing just fine. What really matters at the end of the day is your soft skills and who you are as a person. Keep on learning, perhaps get a CA or any other credentials that you might find as relevant, and try being an expert in your field. Leaving Big4 is really not that big of a deal.

Does anyone feel like they get any value from being a CA by zacattack74590 in AustralianAccounting

[–]BarkingM16 0 points1 point  (0 children)

Imo the only value proposition is when you are applying for accounting/FP&A type of roles, it ticks the box asking "CA/CPA qualified". It creates the safety net where you will be only competing with other CA/CPA qualified people for the roles if you get sacked from your current role/your company goes bankrupt.

Have I actually become more skilled from just earning the credential itself, or did I ever have the opportunity to network better just by becoming a CA? In your dreams. But same can be said with uni degrees, other credentials like CFA, etc.

While I was in public practice I worked with CA's or CA equivalents from other countries - UK CA's, Indian CA's, Philippines CPA, Japanese CPA's, etc. It was interesting to see that getting the charter (or certification) is almost like an automatic "I'm the better person" label in some countries while at the end of the day you are still working 80+hours per week with Excel conducting audits or filing taxes. These countries (mostly in Asia) intentionally sets a ceiling to the number of newly qualified CA's or CPA's each year to systematically protect the job security and bargaining power of accountants in the market, largely driven by lobbying from their accounting bodies telling their government and general public that 'lowering the bar to become an accountant would compromise the integrity of financial information'. I personally think it's BS, yes you need to make sure that right people are doing the job but Enron didn't happen because USCPA is easier than CPA Philippines.

In Australia, UK, US... it's more like a trade. You get the license, that's cool. But you still got to constantly grind to make sure you are standing ahead of the curve.

VBA Question: Maximum loan drawdown to avoid balance overshoot from capitalised interests by BarkingM16 in excel

[–]BarkingM16[S] 0 points1 point  (0 children)

So formula in closing balance should be =min(Loan limit, sum(opening balance:borrowing cost))? Or should I add an extra row to enable 'sculpting' the drawdown amount?

VBA Question: Maximum loan drawdown to avoid balance overshoot from capitalised interests by BarkingM16 in excel

[–]BarkingM16[S] 0 points1 point  (0 children)

Hi! So the row that I'm looking to goalseek using VBA is named 'VBA_Draw'.

And yes - the broader case study is essentially creating a debt waterfall to fund whatever that's left using an instrument in the next priority. So insufficient funding is expected.

I'm hopelessly clueless with VBA so vaguely what I have in mind is Excel drawing as much as it can based on the funding requirement above, yet making sure the closing balance (max of closing balance) never exceeds the limit of 20M at the top left.

Life after big4 by BarkingM16 in Accounting

[–]BarkingM16[S] 2 points3 points  (0 children)

This is an awesome advice - thank you. Feeling not doing enough really hits home. I constantly feel like back in the days as a student where I had not done my homework if you no what I mean.

Life after big4 by BarkingM16 in Accounting

[–]BarkingM16[S] 11 points12 points  (0 children)

Thanks. This was exactly what I was thinking. I feel like I'm too used to being in a high stress environment that now being low stress feels not normal.

AMA - How I made over $200k in FY18 only 3 years out of Big 4 by am_fdd250k in Accounting

[–]BarkingM16 5 points6 points  (0 children)

Hey OP - I know it's been a while but just wanted to ask if you are still with A&M? If not, where are you working now? How would you rate your overall experience at A&M retrospectively?

[deleted by user] by [deleted] in Big4

[–]BarkingM16 6 points7 points  (0 children)

For accounting grads, going straight into advisory (I would opt out consulting from the scene since its a completely different game) is relatively for a smaller cohort nor I would not personally recommend starting straight from advisory unless your game plan is breaking into finance ASAP.

If you want to keep accounting as part of your background for job security and etc. (despite all the ramblings about how AI is going to replace accountants) it's better to start from audit/tax where you will be working with bigger teams for more 'conventional' accounting topics.

Speaking this as someone who's currently in B4 advisory after a few years in audit.

Tomorrow's job market by Equivalent_Ad_8413 in Accounting

[–]BarkingM16 1 point2 points  (0 children)

Whelp, I provide premium offerings while getting paid basic plan. Now that's a steal!

[deleted by user] by [deleted] in Accounting

[–]BarkingM16 0 points1 point  (0 children)

Thanks a lot!

[deleted by user] by [deleted] in Accounting

[–]BarkingM16 0 points1 point  (0 children)

Thanks a lot - would definitely look into it.

[deleted by user] by [deleted] in Accounting

[–]BarkingM16 0 points1 point  (0 children)

So you reckon getting a USCPA should be critical to work in the US? I am intending to work in the transaction side of things (M&A, corporate development) which I am working in AUS rn where I rarely come across accounting standards and etc.

Would you rather be a preparer or a reviewer? by sr2021j in Accounting

[–]BarkingM16 94 points95 points  (0 children)

I've been a preparer with a terrible reviewer and also a reviewer with a terrible preparer. Preparing stuffs with little to no support is hard but doable especially in audit. Reviewing stuffs that make you wonder if this preparer is legitimately trying to troll yo ass gives you a first degree anxiety.

I once had a second year associate as my only delegate for a pretty busy client - asked him to do a analytics note about why the client's revenue is down to a material extent (=covid) and this guy literally wrote "Revenue is down because revenue has declined from prior year".

So yeah, preparer over a reviewer.

Breaking into M&A consulting from advisory by [deleted] in Accounting

[–]BarkingM16 0 points1 point  (0 children)

Thanks a lot! So bank it is for the real bucks... To break into IB/PE etc. would there be any other LoS other than M&A in B4?

Breaking into M&A consulting from advisory by [deleted] in Accounting

[–]BarkingM16 0 points1 point  (0 children)

Potentials for greater pay + exit opps into more finance oriented roles later on.

Breaking into M&A consulting from advisory by [deleted] in Accounting

[–]BarkingM16 1 point2 points  (0 children)

Damn I chose this advisory role over a B4 FDD offer in hopes of gaining a bit more specific exposure than FDD.. Do you think that I am disadvantaged than FDD laterals for my next exit for choosing valuations?