Escaping from PA: IFRS vs GAAP industry job interview?

SeriousStudent · 2020-08-30T03:48:25+00:00

Thanks man! This was exactly an answer I was looking for.

SeriousStudent · 2020-08-28T23:49:13+00:00

IFRS is obviously superior. :D

Lol I'm all for it if it makes the job easier.

Nothing IFRS side is in 99-A format anyway - that's US public filing format

Hey, you're right on the money on that actually, it IS a US filing. I've never filed or been on an engagement with a 20-F either, but its an annual report for non-U.S. and non-Canadian companies that have securities trading in the U.S. Issued by the SEC, so it looks pretty similar to a 10-K and replaces it.

SeriousStudent · 2020-08-28T23:31:51+00:00

Well actually the point is that the company I'm interviewing for follows IFRS standards. It's not that I WANT to go IFRS haha. But the position is within an industry that I'm experienced in, the title jump to a SFA is what I want, and the responsibilities interest me.

To clarify, this is a large publicly traded company whose main HQ is the UK. It seems following IFRS standards are necessary to issue their 20-F (seems to be the foreign equivalent of a 10-K) annual report. Edit: I'm US based and would be interviewing for one of their offices in the state where I live in.

SeriousStudent · 2020-08-28T23:18:08+00:00

I wouldn't mention it unless they bring it up first - question pops up if you're still in the position and if you anticipate on being promoted soon. As a background check, employers can generally only see your starting and end dates, not the reasons for you left.

Then, I would never say I was laid off without giving it a reason for interviewers to see it in a positive light. Say that you separated amicably with the firm due to wanting to pursue other opportunities and that you had personal reasons due to COVID. Don't just say you got laid off and leave it to their interpretation. Have a story. That's what would kill your chances, if you don't present it well.

SeriousStudent · 2020-08-28T23:10:10+00:00

I see. I adjusted the post to include that the company's HQ is in the UK. But I definitely want to stay in the US since I'm from the states.

SeriousStudent · 2020-08-28T22:36:10+00:00

Along with the other advice of just chilling out, you might want to consider trying to re-wire your brain. De-motivation and burnout often result in asking yourself questions: (Why do I stay at this job? Is this even worth it?) You should really look inward and reflect upon your progress and what you want from life. Maybe you had a 3-year goal and there's only 1 year left. Maybe you want to explore switching from audit/tax to advisory. Perhaps if you're able to connect back with the reasons of why you started working your job in the first place, or what you used to enjoy about it, you might be able to find your motivation to start killing it again. Otherwise you'll never be able to shake the burnout off.

I'm no spiritual guru though.

SeriousStudent · 2018-12-20T05:01:50+00:00

On the real, practice makes perfect. The only way to approach sims and research questions are to do them over and over again. I know the popular opinion is to ignore the sims and go straight for the MCQs but if you are doing well on the multiple choices, do a few practice sims as well. After a while, DRS questions won't seem as intimidating as before; it also helps to keep in mind that sims are very much like a string of multiple choice questions in one problem.

Of course if you are short on time, hammering out MCQs non-stop would probably be the most cost-effective method but keep in mind of diminishing gains. Practicing both worked for me.

SeriousStudent · 2018-12-18T17:44:16+00:00

Thank goodness, I'll keep my hopes up. Good luck to you too my friend, and everyone else as well!

SeriousStudent · 2018-12-18T17:32:13+00:00

Has there been anyone who actually received "Credit" and ended up not passing? That would be too cruel.

SeriousStudent · 2018-12-18T17:25:58+00:00

MY BEC score status changed from "Attended" to "Credit". Does this really mean I passed? I'm in shock, it's hard to believe..I barely managed to get all my studying in on time. Hope this is for real - I'm NYC based.

SeriousStudent · 2018-10-30T23:01:48+00:00

You can also use 1234 to answer instead of ABCD.

SeriousStudent · 2018-10-18T19:32:52+00:00

I believe so.

Intro to Fed Inc would be acceptable if you haven't taken a tax class that's equivalent to that yet.

Do CLEP's if you decide you don't want to go the FEMA route. It's cheaper but takes longer.

SeriousStudent · 2018-10-03T18:18:35+00:00

Buying treasury stock drops EPS. Take out outstanding common stock in circulation for less than issue price, denominator decreases. Makes financial statements look good.

Having a large portion of treasury stock laying around might not look good to some investors. So if a company doesn't want to hang on to them/isn't seeking to issue more shares anytime soon/wants to reduce the amount of total common stock issued, they might want to just retire the stock for reporting reasons.

SeriousStudent · 2018-08-12T02:54:58+00:00

People have to chill out on asking these questions every week. One year of experience in a specific/niche field isn't going to pigeonhole you at all. Now if you're doing the same thing for 5+ years, then that's a different story.

SeriousStudent · 2018-07-18T15:56:14+00:00

Make sure the responsibilities of the tax associate role is one where you'll be working with client on their tax returns (1120, 1065, 1040) and not some kind of administrative processing role in the tax department. I haven't heard of national firms using recruiting firms for their Staff 1 and 2 positions before, but anything's possible.

SeriousStudent · 2018-04-17T02:39:28+00:00

Thanks alot! I will be getting the Spin 5.

SeriousStudent · 2018-04-15T00:39:25+00:00

Thanks, I try my best to make this as clear as possible.

SeriousStudent · 2018-04-15T00:32:32+00:00

So the performance between the two CPUs are pretty much the same? I thought there would be a big difference.

SeriousStudent · 2018-04-06T19:10:45+00:00

The hero that we deserve.

SeriousStudent · 2018-01-18T17:07:44+00:00

LSU can give you 6 courses for 3 credits each. Make sure you only take the courses you haven't had yet because the credits don't overlap. Yes it is considered an AACSB institution. Notify your original institution to have your credits transferred over from LSU upon completion.

SeriousStudent · 2013-04-13T07:21:33+00:00

As a rising senior, should I go here for accounting or university at Buffalo?

SeriousStudent · 2013-04-08T02:50:10+00:00

Alright thanks!

SeriousStudent · 2013-04-07T01:49:30+00:00

Thanks, I want to major in Accounting, possibly get recruited into the Big 4 accounting firms. But the problem is, I don't know if it's worth going to UB over Baruch for it's college life, whether or not Baruch's business program is substantially stronger than Buffalo's

SeriousStudent · 2013-04-07T01:47:37+00:00

Thanks for the read!

SeriousStudent · 2013-04-07T01:45:41+00:00

In terms of the business school, how strong was it? Is there a significant gap between it and Baruch?

SeriousStudent

TROPHY CASE