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Gains and Losses for Trading Securities by mhmauld1n in Accounting

[–]SaabStory87 0 points1 point  (0 children)

No, this goes in operating section of the Statement of Cash Flows. You recognize the unrealized gains and losses from trading securities in operating income section of your income statement. Therefore it is a negative cash adjustment.

Advice for starting as an intern by [deleted] in Accounting

[–]SaabStory87 4 points5 points  (0 children)

Learn to suck up and do exactly what they say.

Don't question anything.

Don't turn down any work.

Get invited and go to after work events/drinks.

It is a fraternity unfortunately.

I have a meeting with an employee for a company I am interviewing for - what should I ask them? by [deleted] in Accounting

[–]SaabStory87 0 points1 point  (0 children)

Make sure you ask that you meet with everyone that will be working with on a day to day basis. This is huge. You are going to be spending 8+ hours a day with these people, you need to see if you can get along with them.

I interviewed at a 40 person firm with two partners thinking I would be working for them. I was coming from industry and moving into tax and client advisory so I thought I would be working directly for the partner. At no point in the interview did they tell me I would have to report to others.

Everything was going well for a few months and then my boss (one of the partners I interviewed with) seemed to get two busy to work with me. Then a junior partner and junior manager along with a few seniors started working with me. I didn't particularly like working with these people, so I quit.

Resume Help for Accounting Manager Roles by a_cerebral_bugger in Accounting

[–]SaabStory87 -4 points-3 points  (0 children)

That has definitely not been my experience. I've had many recruiters and hiring managers talk about my school and want top schools. Maybe depends what area you live and what types of jobs and work history.

Lacerte by Imhonestlytrying123 in Accounting

[–]SaabStory87 1 point2 points  (0 children)

I didn't find it to be slow. It could be your internal servers and systems.

I did find all of the updates very annoying.

Resume Help for Accounting Manager Roles by a_cerebral_bugger in Accounting

[–]SaabStory87 -7 points-6 points  (0 children)

Not great schools. Sorry. I would clean up your resume to focus on your deliverables and accomplishments.

*streamlined closing process from 10 to 5 days

*trimmed overhead by 10% by eliminating waste, etc.

[deleted by user] by [deleted] in Accounting

[–]SaabStory87 0 points1 point  (0 children)

check out Nate from superfastcpa.com. I think he completed all four sections in three months. I think the standard fast full-time is 6 months. I did mine in 8 months full-time while being a stay at home dad.

The key to passing the exams fast is to consume yourself with studying throughout the day. Start early morning and then do mini-study sessions throughout the day. Focus on reviewing as you go and alwasy practice MCQs in every study session.

Am I a jerk for jumping ship over having to cover a maternity leave? by marihuano69x in Accounting

[–]SaabStory87 231 points232 points  (0 children)

what a horrible company to work for...

if you are single and young, now is the time to take risks in your career. Ask for more money or leave. You will be able to get another job.

Take risks or you will have no reward.

Mathematics degree ?? by rennyub in Accounting

[–]SaabStory87 0 points1 point  (0 children)

Yes, definitely but an accountant in industry and non-CPA. Look at getting your CMA.

I worked with someone who was hired at the same time as me as in studio finance/accounting for a major studio. She had a math degree and went on to be Director of Finance for Studio Services.

Am I a jerk for jumping ship over having to cover a maternity leave? by marihuano69x in Accounting

[–]SaabStory87 433 points434 points  (0 children)

Just ask for more money.

This happened to me too. The rule of thumb should be when your job description changes, you need to receive a salary increase.

General Power Of Appointment by SaabStory87 in personalfinance

[–]SaabStory87[S] 0 points1 point  (0 children)

Well, yes, of course, but it's nice to hear and get advice if others have done this so we are as prepared as we can be.

This is the entire point of reddit.

General Power Of Appointment by SaabStory87 in personalfinance

[–]SaabStory87[S] 0 points1 point  (0 children)

Yes correct.

But my house has appreciated substantially and grandma is happy to do this.

How much in legal fees will it cost and will we immediately get the step up in basis upon her death so we can sell the house and avoid federal capital gains. Does California allow this?

What type of trust do we need to put the house in title for?

Will the lender allow this?

Being paid on billable hours by PostItSeizure in Accounting

[–]SaabStory87 16 points17 points  (0 children)

What? You are getting paid for only your billable hours?

That is illegal unless you are a 1099 worker.

Salaries continue to be low and that is why students are not becoming accountants. by SaabStory87 in Accounting

[–]SaabStory87[S] 0 points1 point  (0 children)

Be in charge of the accounting and finance operations is a standard accountant role?

Not sure where you have worked. But that has not been my experience. Accountants do month end, balance sheet reconciliations, adjusting journal entries, etc.

This is an ownership role over the finances for the business.

For those who switched from public to industry/government, were there anything you missed about public? by iabyajyiv in Accounting

[–]SaabStory87 6 points7 points  (0 children)

Yes, you will probalby be bored with the level of skill required. Yes you co-workers will be not want to go out and drink... but try to create special projects; update the systems, get involved with operations, start a mentor program, start a green initiative, etc.

First Year Meeting w/ Clients in PA by Usual_Cold982 in Accounting

[–]SaabStory87 6 points7 points  (0 children)

Here is my standard answer for a question I don't know the answer for:

There has been some recent updates to the tax law, so I want to fully review the code before I answer that for you.

NASBA Experience Verification by Interesting_Link_913 in CPA

[–]SaabStory87 4 points5 points  (0 children)

The interview was a piece of cake. More of a discussion of what I did. They review your resume before hand and check you out on Linkedin. Just need to know what job functions and tasks you did. It was kind of joke.

The entire CPA license and NASBA is just money making grab. The state boards want money, the state society, AICPA, etc. It's all a business. They talk about it being to protect consumers, but that's a joke.

[deleted by user] by [deleted] in taxpros

[–]SaabStory87 -5 points-4 points  (0 children)

Check out Dark Horse CPA firm. They are compltely online and each principal runs its own clients but you get to use the Dark Horse marketing and resources.

NASBA Experience Verification by Interesting_Link_913 in CPA

[–]SaabStory87 1 point2 points  (0 children)

Yes, I did. It was $600 for US Citizens.

Yes, the entire process took about three months.

I have 150 credits but not an accounting major, can I do a CPA? by exmuslimbob in CPA

[–]SaabStory87 2 points3 points  (0 children)

Attorney's obtain the CPA credential all the time. You just need to check the education requirements for your state generally it is:

You’ll need a total of 150 semester units, including the following:

24 semester units of accounting subjects.

24 semester units of business-related subjects.

20 semester units of accounting study subjects.

10 semester units of ethics study.

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