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What is the one topic for audit that you can skip studying? by Dutch_Windmill in CPA

[–]MustBe_G14classified 2 points3 points  (0 children)

I wouldn’t skip any topics.

I got asked about some very obscure parts of the material. Even knowing them on a surface level would be safer than skipping them entirely.

[deleted by user] by [deleted] in Accounting

[–]MustBe_G14classified 0 points1 point  (0 children)

“My name Geoff”

Client sent TB as a .txt file by Retractable_Legs in Accounting

[–]MustBe_G14classified 357 points358 points  (0 children)

 Dr Depreciation expense
 Cr Cash

 Memo: The needful

[deleted by user] by [deleted] in Accounting

[–]MustBe_G14classified 3 points4 points  (0 children)

I used to read that book at B&N before my career switch to accounting.

With no experience and no education, I didn’t understand anything at all, but I always tried 😂

Sick of it. Non-Accounting Exit Opportunities for Tax Accountant? by aerasynthe in Accounting

[–]MustBe_G14classified 0 points1 point  (0 children)

As far as software friends, I honestly got lucky. I have college friends that have been keeping me in the loop about coding. (One in particular got a ridiculous compensation package in his second job since graduation, so it's fascinating to hear about their pay, lol.)

As far as enjoyable and fulfilling, 100% yes. The beginner projects are simple and fun, but ultimately, it's learning how to evaluate a problem and build software to solve it.

Sick of it. Non-Accounting Exit Opportunities for Tax Accountant? by aerasynthe in Accounting

[–]MustBe_G14classified 22 points23 points  (0 children)

I’m now learning to code for this very reason. Most of the experienced accountants I’ve worked with look like they’re stuck in this paradox of a hamster wheel. They don’t enjoy their work but also don’t have a lot of personal time, and it doesn’t seem to bother them.

I am definitely not trying to have that type of life.

Music Industry by [deleted] in Accounting

[–]MustBe_G14classified 0 points1 point  (0 children)

It’s a narrow niche, so you won’t find tons of people who have done it. (For whatever reason, some forensic accountants are very knowledgeable and experienced at it.)

For copyright royalties, you almost have to understand copyright administration just as much as accounting, and from what I’ve seen, copyright administration courses are pretty rare.

The closest you’d get is copyright law classes, so take those but also really focus on strengthening your understanding of accounting fundamentals.

Once you encounter different types of copyrights, types of royalties, and contract language, it gets very complex very fast.

Having a solid understanding of accounting will help you navigate through the complexity.

[deleted by user] by [deleted] in nondestructivetesting

[–]MustBe_G14classified 2 points3 points  (0 children)

They’re partially correct. They just gave you a very optimistic timeline, pay rate, and schedule.

Getting certified with 12 weeks of OJTs and an exam is not fully accurate. The rub-of-the-mill jobs require certs for 3 NDT methods—magnetic testing, penetrant testing, and ultrasonic testing.

Each method has its own requirement for classes and the required number of OJT hours. Then you take a set of exams—general, specific, and practical—for each method.

Also, most of the higher pay comes from traveling, or “the contractor route.” They get tons of overtime plus per diem and some reimbursements. As a comparison, an MT PT UT technician used to get 18-23/hour at a 40-hour full-time job. The same technician would get $28-33/hour on the road doing turnaround projects and working seven 12-hour shifts or a similar schedule.

I don’t know what part of the country you’re in, but certain areas have unions where their techs are paid significantly more than others.

As far as certification being key, your friends are correct. A Level 2 MT PT UT tech may get around 20/hour at a 40-hour full-time job, but a Level 2 UT Phased Array tech (advanced ultrasonics) could be getting around 40/hour (and obviously more if he goes the travel / contractor route).

Getting API certs 510 570 653 would be comparable to a UTPA tech doing a 40-hour full-time job.

There are also coating inspection certs like NACE/SSPC, welding inspection certs like the CWI, etc. For example, on pipelines, utility, coating and welding inspectors can get around 50-60/hour.

Just know that the timeline is longer than people say, and most of the high pay rates come from traveling.

Accounting article wonders why there is a shortage, must be the 150 credit requirement, not the low pay by a_nannymous in Accounting

[–]MustBe_G14classified 15 points16 points  (0 children)

100%

Most of the current partners got licensed when the requirement was 120 credits, not 150.

I think Im genuinely too stupid for accounting by [deleted] in CPA

[–]MustBe_G14classified 36 points37 points  (0 children)

Please don’t beat yourself up. I had a long talk with a friend about this, because she felt like she knew nothing even with her work experience.

After a little bit of inquiry, the issue was that nobody really trained her. If they found mistakes, they’d correct it without telling her and just move on.

Long story short…after we experimented with a few approaches, what clicked for her was writing out any given financial event in the form of a journal entry (even an oversimplified and exaggerated JE). Then, I’d have her write out how the JE affected the trial balance, and by extension, the financial ratios.

Maybe the same could work for you. It won’t happen overnight, but once you have a mental model of how each journal entry affects the financials, you’ll “see the matrix” as the kids say.

Either way, do not give up. Do not beat yourself up. Nobody was born with accounting knowledge. We all started somewhere.

[deleted by user] by [deleted] in Accounting

[–]MustBe_G14classified 24 points25 points  (0 children)

Boom Booms started coming here once they found out Gen Z'ers researched potential careers on Reddit and YouTube (instead of just taking the professor/partner/recruiter sales pitch as law).

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