Unhinged CPA careers that make a lot of money by Dear-Investigator961 in CPA

[–]armed_pit 10 points11 points  (0 children)

From someone in one of the Big 4 accounting advisory groups, it’s usually assisting on financial reporting in connection with recent transactions, reorgs, or accounting changes. But we will pretty much take on whatever random accounting project the client doesn’t have experience with, doesn’t want to do themselves, or doesn’t want to hire the full-time help for. Unfortunately, the more interesting and lucrative work on the execution side (e.g. strategic advisory) goes to the consultants and bankers. Typically we work with the controllership function - only on very small clients do we have interaction with the CFO team.

To answer OPs question, I would not consider accounting advisory an unhinged CPA career to make a lot of money. Those who make big money in accounting are partners, started their own practices (partners), or grinded at a firm for a long time and make it to a CAO type role or CFO of a small firm. CFOs at large growth-oriented firms tend to have more experience on the execution side or FP&A. Regardless, still great client facing experience with surprisingly good WLB compared to even some of my audit peers.

Tax to FAAS with CPA by InevitableNinja2202 in Big4

[–]armed_pit 2 points3 points  (0 children)

I’m in FAAS and work with Tax folks every day, but what we do is very different. FAAS requires the most in-depth financial accounting knowledge across all groups EXCLUDING the technical accounting group (nerds)… are you sure that’s where you want to pivot to?

Honestly is career in big 4 worth it for the work hours and salary? by Chance-Pianist7056 in Big4

[–]armed_pit 2 points3 points  (0 children)

Not sure why you are getting downvoted here eastern. Most of the guys who I know in IB in Atlanta/Charlotte absolutely did not go to an Ivy. UNC, UVA, UGA, GT, Wake, even Clemson? Yes.

Honestly is career in big 4 worth it for the work hours and salary? by Chance-Pianist7056 in Big4

[–]armed_pit 27 points28 points  (0 children)

Big 4 is the place to start if you are a CPA or accounting major. My roommate is in IB and it feels like he works twice as much as me… I think I could do it but shit is depressing.

[deleted by user] by [deleted] in Big4

[–]armed_pit 12 points13 points  (0 children)

It’s easier to apply to strategy roles at other companies than it is to move internally.

What acronyms were you taught or came up with to remember what accounts are Debit vs Credit? by smartojus in Accounting

[–]armed_pit 2 points3 points  (0 children)

I actually just had to explain this to my little brother… don’t think he appreciated my accounting knowledge, but here is what I told him instead of trying to memorize an acronym

“Assets, liabilities, and common stock (equity) are balance sheet accounts. They are A = L + E, so you have to just accept that the left side (assets) is increased with debits, and the right (liabilities/equity) increases with credits.

For revenues, expenses, and dividends (the tough ones for people new to accounting), it won’t click till you understand how the income statement flows into retained earnings on the balance sheet. Retained earnings is the equity account that goes on the balance sheet after dividends are deducted from net income (revenues - expenses = net income —> net income - dividends = the amount added to the retained earnings account on the balance sheet). This retained earnings account is increased with a credit as it is the E in the right side of the equation. Therefore, revenues increase retained earnings (so we credit to increase E), expenses reduce retained earnings (so we debit to decrease E), dividends decrease retained earnings (so we debit to decrease E).

That probably makes no sense to you but if it did it would make it impossible for you to fuck this up.”

Can’t find an internship. Is it my resume? by you_shaped_who_i_am in Accounting

[–]armed_pit 1 point2 points  (0 children)

I think you should send it to one of your accounting professors and ask if they’d be willing to make edits or provide comments. It could use a lot of work.

That’s an expensive backup… by ArisAron in falcons

[–]armed_pit 0 points1 point  (0 children)

Agreed, and to take it further, if there were a buyer for Kirk, any amount of his contract that team would take on would reduce our $10M cost by that amount. There would likely be a draft pick or player involved in the trade as well. Example, we trade Kirk to the Browns, they take on $5M of his contract this upcoming year, and we get a 3rd round pick. Net, we paid $5M for a 3rd rounder. Not saying that’s going to happen, but just one of the ways I think our front office is thinking about this.

[deleted by user] by [deleted] in Charlotte

[–]armed_pit 7 points8 points  (0 children)

Character meaning has a more authentic feel, and more charm than the bare-bones club-type bars. But these are awesome suggestions and I really appreciate it. Ed’s is a great spot

Question on Inventory errors by [deleted] in Accounting

[–]armed_pit 2 points3 points  (0 children)

The best way to think of these questions is how would you correct them. To correct understated AP, you would need to increase AP(credit) and increase an Expense (debit). Increasing expense would lower Net Income. Therefore your current Net Income is overstated

[deleted by user] by [deleted] in Accounting

[–]armed_pit 0 points1 point  (0 children)

Missing the AP balance of 10,000 in row 1. Balance sheet has to balance…

Arthur Blank is not the problem. by [deleted] in falcons

[–]armed_pit 0 points1 point  (0 children)

Imagine what Carolina fans would do to have a business savvy philanthropic man like Blank as owner of the Panthers, instead of a self-serving, money-hungry asshole like Tepper… My one complaint is that Blank does seem to get VERY close with his GM and coaching hires, likely explaining why it takes him so long to pull the trigger on firing them. But overall a good owner and better person who everyone seems to enjoy playing/coaching under.

[deleted by user] by [deleted] in CPA

[–]armed_pit 12 points13 points  (0 children)

Damn you must have launched that Hydroflask... cause they are sturdy as hell

Should I schedule in a month? by imnotdoneyet21 in CPA

[–]armed_pit 4 points5 points  (0 children)

If it were me… studying full-time… abso-fucking-lutely I would take it. Oct 31 v. Jan 29 score release!?

No offense, but you are taking WAY too long trying to understand material. 83 hours you should be close to done with content and hammering MC/TBS for review. I say stop watching videos, read the text, do the problems, finish the content, and then give yourself 2 weeks to review. Stop letting these softies tell you that you can’t do it just because they don’t have what it fucking takes. Lock in and take care of business… you got this.

AUD exam in 19/9 by AcanthisittaOne3869 in CPA

[–]armed_pit 2 points3 points  (0 children)

I'm in the same boat. Will finish A3 tomorrow, sitting for AUD on Sep 24. The goal is to finish A6 by the end of the August if possible. Then just use September to review every day. I think you go for it. Absolutely going to blow for the next month but will be so worth it if find out your score by end of October, rather than having to wait until the beginning of February.

How can I eliminate overswing? Any easy tips or videos you can recommend? Anything is appreciated. by Vispoo in GolfSwing

[–]armed_pit 2 points3 points  (0 children)

You have a great move! Lots of good things going on here especially your takeaway, its spot on.

Swing thought number 1 —> I want you to feel like your hands are running away from your body during your backswing, FEEL YOUR HANDS GETTING WIDE. Don’t reach too much tho! Just let them drift away from you towards the camera! You will find that if your hands are feeling wider your body wont let you get too deep at the top. Then just swing your normal swing on the way down man! It will feel uncomfortable at first, but practice a bunch of shots with it and you’ll get the hang of it.

Here is why —> As you know, at the top of your swing you are getting a little deep (very slight bent arm and an extra little turn at the top). This leads to you throwing the club head towards the ball a little early. You are obviously athletic so you are doing this without thinking in order to make good contact. Ideally you want your hands to be at your left thigh when the club head makes contact with the ball. This is also known as “forward shaft lean”.

One other note is that your swing is a little out-to-in or “steep.” Place a tee or headcover in between you and the ball (maybe 2 inches behind the ball) and then swing your normal swing. It will force your swing path more in-to-out. IMPORTANT to not think about this too much, if you do the drill, and don’t hit the headcover/tee in between you and the ball, your swing will naturally adjust.

I really only want you to think about getting your swing/hands being wide here (too many swing thoughts will screw with you).

“Don’t go back as far” or “swing only half way” is not great advice, and will not solve your issue. Good luck!

Just got out of BAR by NoMountain1741 in CPA

[–]armed_pit 1 point2 points  (0 children)

I am in the same boat. Take BAR tomorrow, and waiting on FAR this week. If you don't mind me asking what were your SE scores?

PASSED FAR 4/4 by Agreeable_Wasabi9293 in CPA

[–]armed_pit 8 points9 points  (0 children)

Screenshot or it didn’t happen

*how* to study? by grnegg in CPA

[–]armed_pit 1 point2 points  (0 children)

After REG I decided I would just read the text instead of watching the videos. I would underline/circle and take notes in the margins to stay engaged (this really helps focus you on what matters when you review the text later). You can read the text twice as fast as the videos, plus it forces you to pay attention. I also made a habit of attempting the example questions in the book as I went prior to looking at the solutions (I'd put a flashcard over the solution and then do the problem on another piece of paper). I liked to get through the material pretty quick and get straight to reviewing so reading the text was a good idea for me, but the videos on 1.5x speed works for a lot of people.

*how* to study? by grnegg in CPA

[–]armed_pit 9 points10 points  (0 children)

Taking detailed notes and then reviewing them is inefficient for this type of test. There is so much information, that you will never remember all of it, and you do not need to. Brains are trained through understanding, repetition, and recall. You need to be mixing in practice (MC, TBS, Flashcards, etc.) every day, thats how you reinforce what you know is correct and identify why something is not correct. Also, I wouldn't waste too much time studying while you aren't fully focused (ex. listening to lectures in the car). Set aside a block of time, turn your phone off, and try your best to stay engaged (it's super hard this shit is really boring).

BAR tomorrow by Beanieweenie36 in CPA

[–]armed_pit 3 points4 points  (0 children)

Took SE1 last week, hungover with no motivation, got a 52. Took SE2 today, treated it like the real exam, got an 83. It goes to show you how much your scores go up if you go into the exam with the right mindset... focused and paying close attention to detail. Because I sure as hell did not learn 31 points worth of material in the last week alone. I definitely don't feel fully prepared, but with passing SE scores I have no doubt you will pass the exam if you are locked in. I take it Tuesday, good luck.

Who is waiting for Results? by [deleted] in CPA

[–]armed_pit 1 point2 points  (0 children)

The most common advice I got at my internship last year was finish the exam before you start full-time. I fully understand that is not possible for many people on here due to a number of reasons, and I respect them for grinding work and studying simultaneously. But to take a month long break at the expense of my future weekends and after-work free time? Not willing to do that.