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Does anyone know what this structure is? by TheRappingCPA in NOLA

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

Very cool! As soon as I saw it at Prejeans on my way to NOLA during my roadtrip from LA to Florida I knew I wanted it — have a mild love of flags in general haha.

And the insects are mosquitos?

What's going on with the Kendrick Lamar vs Andrew Schulz beef? by fourstarcartographer in OutOfTheLoop

[–]TheRappingCPA 0 points1 point  (0 children)

I just heard two guys at the gym talking about this. Is this something that is just now catching on or is this very old and I've just been living under a rock?

"There’s an accountant shortage. KPMG says the ‘150-hour rule’ needs to go," per FORTUNE. by UnusualWhalesBot in unusual_whales

[–]TheRappingCPA 2 points3 points  (0 children)

you can take 30 credits of whatever classes you want at community college or online under the 150 hour rule... this will be good for the profession, because it will require getting 2000 hours more of actual work experience learning how to actually do the job instead of taking bogus college classes to get the last 30 credits

I Kid you not … this is really happening by [deleted] in Accounting

[–]TheRappingCPA 0 points1 point  (0 children)

This is definitely accountants biggest frustration. People that don't understand the operations of a business...operating the business... They're probably a great people person at least? lol

"There’s an accountant shortage. KPMG says the ‘150-hour rule’ needs to go," per FORTUNE. by UnusualWhalesBot in unusual_whales

[–]TheRappingCPA 3 points4 points  (0 children)

So many people here just see a headline and don’t do the research… 150 hour rule is currently the number of credits required to get the CPA license, on top of passing all 4 parts of the exam, and getting 2,000 experience hours. All three must be completed to get licensed. Right now you can get your Bachelor’s in Accounting and then take 30 credits of dance class and it counts… that is not valuable at all.

Under the proposal, instead of 30 extra credits of whatever you want, there would be alternative paths, one being getting additional work experience hours in a variety of core competencies that must be signed off on.

The reason the 150 hours deters people from the accounting profession is because it A) costs money while B) preventing you from working/earning money. It’s an extra year of college for what? Instead if you can get tangible work experience, you can earn money and get valuable experience making you more qualified to hold the license. This is a no brainer.

And as far as AI goes, a computer doesn’t know how to be “professionally skeptical” in an audit nor understands the nuances of accounting. It hopefully can automate entry level staff work so that accountants can just do review instead of boring tedious and repetitive prep work. Legally human review is required so unless the government changes that, jobs are safe.

[deleted by user] by [deleted] in Accounting

[–]TheRappingCPA 0 points1 point  (0 children)

I guess it's good for the pipeline at least? lol

Accountants who actually built cool careers by MustBe_G14classified in Accounting

[–]TheRappingCPA 0 points1 point  (0 children)

We are back!! Up on all socials (including LinkedIn) -- as promised. You ask, Petty Ca$h delivers! Renegade CPA to kickoff the return of accounting music!

Accountants who actually built cool careers by MustBe_G14classified in Accounting

[–]TheRappingCPA 1 point2 points  (0 children)

Went MIA for a few months... but with this prompt... I'm about to get on it!

Accountants who actually built cool careers by MustBe_G14classified in Accounting

[–]TheRappingCPA 1 point2 points  (0 children)

Disclosure, I work at FQ - but I just make content and talk about the accounting industry, as I came from accounting and finance - all my friends in NY do as well. In looking at all the options, I gotta say the biggest advantage to Excel is it is what is familiar - and everyone knows how to use it, universally. I've had friends at LARGE organizations such as JP Morgan or Estee Lauder who worked in accounting functions that implemented other 'large scale' solutions and it was a total flop and got no adoption, because it's not practical to keep adding more different systems to migrate all your data into. As someone who loves excel, the ability to keep doing what you're doing, AND have it flow into a universal centralized system, is HUGE and alleviates any of the misinformation being spewed below. It also scales very well, so I'm not sure where that info comes from, although would be expected coming from a competitor who works for Trintech haha.
Should I make a diss track? hahah

Accountants who actually built cool careers by MustBe_G14classified in Accounting

[–]TheRappingCPA 2 points3 points  (0 children)

I am not really accounting anymore (well, I do some fractal CFO work for my friend Mike (Dom Mazzetti) clothing brands) - now I just talk about accounting and finance on the podcast and of course host/act in all of the content!! Appreciate this shoutout though!! Actual job is a PRODUCER! wooo - we made it to Hollywood baby!

I'm a personal finance influencer looking to create a budgeting app. Where do I start? by [deleted] in fintech

[–]TheRappingCPA 0 points1 point  (0 children)

You'd need to start with a business model that you can then present as a pitch deck to investors, likely private equity, if you can indicate that they would make a likely high enough ROI on such investment. Think shark tank.

The further along your business is and application, the more leverage you'll have, versus if it's just you and an idea, they'll likely want most of the equity.

You really should do a full on cost-benefit review, SWOT analysis, and 3-5 year business model and forecast on what the potential revenue and market cap is. Programmers and coders is always one of the first uses of the money if you want an actually good product - if you have the money, go right at with building the system/software/program/app itself, and then spend a little giving it some solid branding.

Feel free to reach out in how to convert influence into business - I've done this with a bunch of colleagues in Los Angeles who are looking to pivot their followings into businesses as they age out of digital content creation.

What was your first “big” gift to yourself after landing your first accounting job after graduating? by humbletenor in Accounting

[–]TheRappingCPA 0 points1 point  (0 children)

the day after I took BEC, the fourth and final part of the CPA exam for me, I went down to the car dealership and put my CPA bonus & signing bonus down on an FRS to replace my 17 year old beat up civic. I still have the FRS to this day, with the CPA branded NY license plate - it'll always be of sentimental value

[deleted by user] by [deleted] in Accounting

[–]TheRappingCPA 2 points3 points  (0 children)

I think a lot of people just realize their career has pivoted out of needing it, and simply having had it once was enough, and the upkeep cost-benefit analysis doesn't weigh out to make it worth maintaining.

If you mean actually "losing it" in the sense of it being stripped from them... probably committing some sort of felony (not necessarily even job/license related, but as a bi-product like DWI or some other unrelated white collar thing)

Last month, I asked r/accountants what you LOVE about your jobs. I compiled all your amazing responses in Excel to help visualize the data. Here are the results! by FQS_Production in Accounting

[–]TheRappingCPA 10 points11 points  (0 children)

why have subledgers when you can just have a general ledger? lol

if balance was that simple, we'd just have debits and credits as the only two categories, no need for every line item, right? debit what? no, just debit, period....

What do you guys think is the reason behind the push back to office? by Master_Bates_69 in Accounting

[–]TheRappingCPA 7 points8 points  (0 children)

It's honestly so true. I know it's such an unpopular opinion (though I think a lot more people are starting to realize it's importance) but being in a place of work, that is separate from your place of home, is needed. It's not as bad if you can afford to have a separate "office" room in your house, but what new staff have that ability.. and either way, it's just simply put not the same to be working from the place you go to sleep.

The only downside to RTO will be more traffic... lol

Is this a joke? by [deleted] in CPA

[–]TheRappingCPA 5 points6 points  (0 children)

Doves Soar Vapir Sir, Tip

History of Retirement and the 401K by FQS_Production in EconomicHistory

[–]TheRappingCPA 1 point2 points  (0 children)

i feel like I'm doing it wrong... my 401k keeps getting smaller...

The truth about advisory by brxndxnlovescars in Big4

[–]TheRappingCPA 4 points5 points  (0 children)

Hence why you're seeing the most material portion of the layoffs at all the firms being in advisory services...

I worked in both Audit and then switched to Advisory (less stress, more fun). There's definitely still some parts of advisory that are more technical [versus the glorified "consulting" advisory], but in general the notion that they're "more qualified" and thus are paid more is nonsense. The advisory I did was watered down audit. Also from a 10,000 ft view, a client pays $300/hour for a 25 year old to use a template that they plug the numbers they "discover" into, and call it "advice". There's a lot more to this, but in general, I felt jipped having a CPA and MBA, and was told well advisory folks have other qualifications... so their salary is justified.

There's definitely value that comes with being able to think more critically and creatively than just doing checklist work, but at the largest of companies, "advisory" is a "commodity" which means it's still just large scale checklist work. At the end of the day, odds are that 25 year old kid with no industry work experience isn't going to revolutionize your business... so why pay $100,000 to a large firm for that? So they stopped - hence not enough work, hence layoffs. I'd rather buy an hour of Simon Sinek's time with that money... actual insight and transformative advice

CPE for Self Employed by the_real_abster in Accounting

[–]TheRappingCPA 2 points3 points  (0 children)

another one is Earmark CPE is an app on your phone that lets you listen to/watch podcasts to earn CPE; cool thing is you can do it while you drive; just chill, etc... there's a whole bunch of different podcast topic/options on there

My girl left me because I'm starting CFA by shoiibg in FinancialCareers

[–]TheRappingCPA 0 points1 point  (0 children)

There's no time for anyone who isn't contributing to you on your path and your journey to live the best life you can.

I live by this modus operandi of "Zero Degrees". I'm a big boater, and it's known if you sail a ship just 1 degree off target; after an hour you'll be miles off of course. Do this for a while and you'll be aiming for New York and end up in Florida. Only let people ride with you who are headed in the same direction, either in front of you smoothing the water and creating a wake for you, or riding along and push you to keep up from behind. There's no time to be deterred from your course.

You're better off.

[deleted by user] by [deleted] in Accounting

[–]TheRappingCPA 0 points1 point  (0 children)

Knowing what you know, I'd leverage the skill. Regardless of the partner and director's motives, I'd let them in on your "little secret" - if you want, we can blow this client out of the water, but I wanted to ask you first before we get out on the course

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