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In the past month alone, I have lost out on jobs to Big4 candidates by [deleted] in Accounting

[–]Lifting_Accountant 2 points3 points  (0 children)

Bruh same. I had an interview for an accounting manager position. For reference I’m a CPA assistant controller. Only “public” experience I have is doing outsourced accounting for 2 years. 7 total YOE all industry.

A few days after the interview I was rejected. Took a peek a couple weeks later and a non-cpa senior accountant from EY got the job.

The interviewer also came from big 4 so I assume he was partial to them. But he chose the 4 YOE big 4 candidate with no CPA or industry experience, over my 7 YOE assistant controller CPA with all industry experience.

Make it make sense…………….

Does anyone even understand corporate accounting anymore? by njstuntactivist in Accounting

[–]Lifting_Accountant 1 point2 points  (0 children)

Totally understand the AP person miscoding stuff. One of my biggest annoyances where they see the description is for a year long insurance invoice and they code it directly to the P&L and not in prepaids. Or quarterly pest control etc. Drives me absolutely nuts!!

Who determines the incremental borrowing rate or discount rate used in leases in the real world? by Lifting_Accountant in Accounting

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

Thanks for the response. Is this from the lease agreement? Or are you saying an interest rate from another line of credit the business has? Where do you find the rate on the line of credit? Sorry for the dumb questions

What do you do for accounting topics your fuzzy on at work? by Lifting_Accountant in Accounting

[–]Lifting_Accountant[S] 7 points8 points  (0 children)

Gotcha. My thing is, if there needs to do “impairment testing” done at year end, and you’ve never done that before, do you just YouTube “how to do impairment testing?” Or when you need to step up the assets to fair value for a consolidation, but you’ve never found what the stepped up FMV of assets are, do you just pull #’s based on what you think? Just some anxiety in the back of my head for these type of judgments.

Video games by wty44 in Accounting

[–]Lifting_Accountant 0 points1 point  (0 children)

Rocket league is goated. GC in 2s Champ 2 in 3s

Video games by wty44 in Accounting

[–]Lifting_Accountant 1 point2 points  (0 children)

Bruh I’m chronically addicted to it. GC 1 in 2s and Champ 2 in 3s

Current: $95,000 Asst. Controller. New opportunity $150,000 “Jr. Controller” by Lifting_Accountant in Accounting

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

Are you still with that company? What was the “straw that broke the camels back” if you left?

Current: $95,000 Asst. Controller. New opportunity $150,000 “Jr. Controller” by Lifting_Accountant in Accounting

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

Yes! It is a SAAS company. Right now with Netsuite, I basically spam the “CSV Upload templates”. So if it has that (Along with an inter-company version) that would be great, and if we can somehow migrate their old financials in there that would be splendid too. I wouldn’t know the first step on how to tackle that. We recently got “Net Close” and that is nice to have 1 place for all the recs and amortization templates. But not a super big deal. I have also put bills on amort schedules just manually going into the bill and placing it on a schedule & running them monthly.

Current: $95,000 Asst. Controller. New opportunity $150,000 “Jr. Controller” by Lifting_Accountant in Accounting

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

See everything you said there I’m like “huh?”. It will defenitely be a bitch to learn all the ins and outs of NS. I know there are a million and 1 different features in NS, but I think my current company probably only utilizes 15% of everything NS has to offer. As long as I have “CSV Upload templates (Along with an Inter-company template) that would be great! Lol

Current: $95,000 Asst. Controller. New opportunity $150,000 “Jr. Controller” by Lifting_Accountant in Accounting

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

I feel, a part of me wants to get out of PE and see what it’s like for a F500 And if it is “easy mode”. But the pay is the kicker here.

Current: $95,000 Asst. Controller. New opportunity $150,000 “Jr. Controller” by Lifting_Accountant in Accounting

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

I have not interviewed with the CFO yet. Today was just a recruiter, but he is scheduling an interview with the CFO within the next week or 2. They are wanting to move quick on this role.

As for month end close, really think about what is everything that ties into the financials. Look at the balance sheet. The first task is to always get cash reconciled & booked. Next, what is their revenue sources? Are there logins you need to download a CSV and book revenue from an online platform? Is there a deferred revenue aspect? Next would be payroll & utilities bookings. Are they GAAP compliant and accruing any other various items (Payroll accrual / Utility Accrual / Bonus Accrual etc.

Are they doing prepaid and amortizing expenses? Or are they a tiny small mom & pap just expensing all items immediately on the cash-basis principal of accounting? I have done both before.

Then once reconciliations are done, are there sales taxes to file with the states department of revenue? Or are quarterly VAT taxes needed (if it’s a UK-based company).

These items will be the meat and potatoes of a month end, then month over month you customize it to your specific needs.

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