**Accounting thread: Tickmark A: F w/o/x, PFAW

Discussion in 'The Mainboard' started by NothingIsOT, Apr 13, 2016.

  1. Houndster

    Houndster Well-Known Member
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  2. NothingIsOT

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    Well yeah. Promo is the goal. I’m preparing for a non promo. Situation
     
  3. George Costanza

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    This exactly
     
  4. George Costanza

    George Costanza It's not a lie if you believe it
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    Siegfried has an awful reputation. Worked in consulting after public and they were consistently laughed upon. Plus they are soul suckers.
     
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  5. Tiger Tiger Woods Y'all

    Tiger Tiger Woods Y'all Putting big balls in little holes, circa 1995
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    Marry her like an adult
     
  6. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
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    Could you not?
     
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  7. Tiger Tiger Woods Y'all

    Tiger Tiger Woods Y'all Putting big balls in little holes, circa 1995
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    I guess you could
     
  8. NothingIsOT

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    Anyone still in big 4?
     
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  9. Tiger Tiger Woods Y'all

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    My wife is a manager at big D finishing her 5th season in tax.

    :bananallama:
     
  10. NothingIsOT

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    so I waited five years for yesterday. I was denied promotion in miami; now I do have manager promotion available if I'm willing to relocate to pittsburgh, seattle, portland, atlanta, hartford, anchorage, or salt lake city. guess it's time to bounce.
     
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  11. AHebrewToo

    AHebrewToo Albino Hebrew Extraordinaire
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    Sorry to hear that.

    Portland is awesome though.
     
  12. FTK

    FTK Well-Known Member
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    Bounce from Miami or Big 4?
     
  13. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
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    Seattle, then bounce imo.
     
  14. NothingIsOT

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    no clue... my mind is all over the place. I always dreamed of one year of manager then bouncing. now I'm not sure where to go from here.
     
  15. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
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    Get the manager salary and bounced. This is easy. Unless you have a strong desire not to relocate.
     
  16. danny2430

    danny2430 Well-Known Member
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    Sorry to hear it dude, let me know if you want any info on west coast fla

    My firm has solid offices in Ft.Laud and Miami, but it’s a lot more chill on this side of the state
     
  17. Handsome Pete

    Handsome Pete Well-Known Member
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    I just recently started back at school with the end goal of getting CPA. I originally graduated with a poli sci degree and worked in various politics-related roles for about 5 years. In one of those roles I wound up doing a lot of finance work in conjunction with the shared service group that did our accounting and discovered that I really enjoyed that side of things. I'm now working for that group doing non-profit accounting (mostly AP/AR) while doing online classes at night.

    Sitting for the CPA is still at least 2 years away, but assuming school goes alright, I'm hoping to make a career out of this. Since I've already been working for 7ish years I don't think the hellscapes being described for Big 4 sound all that appealing, and by the time I got CPA I'll have 3-4 years experience in accounting as a supervisor. Any thoughts on what kind of roles I could be looking at once i get CPA or if there's anything I should be focusing on in particular at work or in my studies to avoid starting back at the bottom?
     
  18. AHebrewToo

    AHebrewToo Albino Hebrew Extraordinaire
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    Pete, how do you feel about moving to Kansas?
     
  19. Handsome Pete

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    I don't think the lady friend would like that too much. If I was single, that would be the move for sure
     
  20. AHebrewToo

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    How about Atlanta?
     
  21. Handsome Pete

    Handsome Pete Well-Known Member
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    That would be a much more realistic scenario
     
  22. nolecpa

    nolecpa Well-Known Member
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    They want to make you actually relocate and not do a rotation until a manager spot opens up in Miami? I’d bounce since I wouldn’t completely uproot your life for this. If you transfer to Atlanta, you’d probably get a combination of manufacturing clients in small towns through the southeast(the Atlanta office runs engagements in TN, SC, AL, NC, and MS if the local offices don’t have the resources) or inter-office jobs for foreign companies. Basically, you’d get the clients everyone else avoids even if you don’t have any experience in that particular industry.

    Unless you want to stay a couple years and settle down in one of these cities, I’d stay in Miami and work for a smaller firm if you want to keep working in public accounting.
     
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  23. Tiger Tiger Woods Y'all

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    I have what I think is a fairly basic p&l question... Anyone want to give it a shot? Will be showered in likes

    I have multiple cost centers that pay a % of their revenue to the administrative cost center. Its shown on their individual P&Ls as an expense "management fee". If I want to do build a P&L of the entire company, the management fee would be both an income item (for the admin cost center) and as an expense item (for the child cost centers). Is that kosher? Should I be showing it differently?
     
  24. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
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    It's a little more complex than that.

    You'll have to make sure you book eliminations.


    For example: Company 199 is the admin cc and company 233 is the other.


    The gl string would be cr 199.233(this the intercompany). Whatever your revenue account number is.

    Db 233.199(this the intercompany). Whatever your revenue account number is.
     
  25. Tiger Tiger Woods Y'all

    Tiger Tiger Woods Y'all Putting big balls in little holes, circa 1995
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    jesus. this is what I was afraid of. This is a small company ran on quickbooks by a long time bookkeeper and not an accountant. I think my shit is fucked up
     
  26. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
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    You do consulting iirc, right? Hire me lol


    As long as you can group the transactions, it'll be an easy fix. Are they publicly traded? You may be okah if they aren't..... Im honestly not sure how to treat it if they aren't public. May not even need eliminations at all.
     
  27. Tiger Tiger Woods Y'all

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    Used to. I am coo of a family owned medical group now, and I've spent the first 10 months trying to figure out how they pieced all this shit together.
     
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  28. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
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    Just looked, yea you'll need eliminations. Do you have an accounting dpt? Someone there should be able to handle this...what you're trying to do (big picture) is eliminate the revenue/expense from the transaction bt the subsidiaries so that the only thing you see in a consolidated P&L is the transaction with the third party.


    That's how you would unpack the box and untangle everything.

    You could also just reverse everything and rebook using the respective percentages... assuming this is a non public company.

    GOING FORWARD just book the initial JE with the respective percentages of revenue.
     
  29. Tiger Tiger Woods Y'all

    Tiger Tiger Woods Y'all Putting big balls in little holes, circa 1995
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    This makes sense. I guess I would just have a table/schedule/exhibit that shows the revenue flowing from the subsidiary to the parent co, because that's important for the owners to see (basically how they make their take home), but wouldn't want to be shown on the official p&l
     
    #179 Tiger Tiger Woods Y'all, May 18, 2018
    Last edited: May 18, 2018
  30. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
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    Gotcha. If that's all they want, I'd go with the exhibit. Just identify the initial revenue with the 3rd party and do the math. If they ever sell the company, let they buyers dive in an make the proper entries if they really want to.
     
  31. TLAU

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    wrapped up annual review shit and my firm gave pretty insulting responses to salary and work from home policies today when we got new employee contracts to sign. Time to move on I'm tired of fighting their old ass cheap MFer policies... 1/3 of your annual billing is all you're worth to the firm, even though a job posting a few months ago said 3+ years experience and "cpa candidate or cpa" = 65-90k we were offering.

    got a couple of linkedin messages I responded to about public acct jobs with small businesses with a much faster track to partner. At 34 I'd really prefer not to be somewhere that would take more than 10 years to attain... 45+ is old to just be a manager at a tax firm unless it's a big corporate firm :twocents:

    what areas/roles have people jumped into from public? Just looking at some of the postings out there for private jobs a lot of them the experience just doesn't overlap. We do enough compilations/reviews that I feel like you combine that base knowledge with readily available GAAP info that financial reporting roles are very easy to transition to with a little aptitude :idk:

    What would your career path be (job titles wise) to make it to controller? Say if you had 10 years experience in public and CPA, with 5 years being pretty sweatshop-y work - what "level" would you expect to enter at in private accounting? Nobody manages teams at ~30 person public accounting firms and that's a requirement of damn near every private job I've looked into...
     
    #181 TLAU, Jul 12, 2018
    Last edited: Jul 12, 2018
  32. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
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    You should be a director/senior manager imo.

    I enjoy sec reporting. Much more high level than the GL side. I'd go that route.
     
  33. Vinegar Strokes

    Vinegar Strokes Fire Izzo
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    What’s your salary at now?
     
  34. M'ark Pepperonio

    M'ark Pepperonio Free mahi mahi! Free mahi mahi!
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    If you want to go down a path to Controller, I'd recommend getting into an FP&A type role as soon as possible.

    Reporting and Corporate accounting type roles are logical entry points for someone coming out of public accounting, they will probably maximize your current pay and title, etc., but to round out your skillset if you're more interested in a Controller than CAO path, you would be wise to get experience budgeting, forecasting, analysis, etc.
     
  35. M'ark Pepperonio

    M'ark Pepperonio Free mahi mahi! Free mahi mahi!
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    Mine is $69,420.69.
     
  36. Jimmy the Saint

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    Nice
     
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  37. TLAU

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    In the middle of the job posting salary range.
     
  38. Jimmy the Saint

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    You're making that as a manager? You seem criminally underpaid.
     
  39. Houndster

    Houndster Well-Known Member
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    Are employment contracts standard with most firms?

    I would get the hell out of there ASAP. You should be making a lot more at the manager level
     
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  40. Cheshire Bridge

    Cheshire Bridge 2017 & 2019 National Champions - Clemson Tigers
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    Fjdbsbsjfhdnsi?!?!?!?!?

    They're getting over you you big time. You're missing $10k minimum in salary.
     
  41. TLAU

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    Pretty much what I told them in my review I should be making the top end of that range at a minimum. They use the annual billing % as justification for underpaying people here. And give us a song and dance about all the random extra non-monetary stuff they get for us during busy season.

    Also not technically a manager even though another guy and me basically do all the same responsibilities the actual managers have like reviewing returns/compilations. The structure is basically we’ve got X partners and X managers and they won’t promote anyone else officially until a manager retires or leaves (within the next 2 years). So even though I have the same responsibilities as the most recently promoted manager here I’m still a “senior staff”
     
  42. Cheshire Bridge

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    Ahhhhh. How long have you been in public? It's time for you to jump to industry. Cpa at 34 years old = way more money and responsibilities. I'm kinda upset at even hearing this. Your firm is taking advantage of you man.


    Edit, also, I'm a non cpa in industry and we make about the same. I'm in Atlanta too which makes what your firm is doing to you even worse. Move on.
     
    #192 Cheshire Bridge, Jul 12, 2018
    Last edited: Jul 12, 2018
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  43. NothingIsOT

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    they can call you senior accountant, but they should be paying you a competitive salary. they're not. move on.
     
  44. Jimmy the Saint

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    :doge: Get out.

    Senior here as well although I have half of the years experience you do and make basically the same (I doubt pay in Austin vs. Phoenix is substantially different). I got passed over for a manager spot this year and I'm thinking it's time to just get out and move to industry. I can't imagine putting up with this for 5 more years.
     
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  45. Cheshire Bridge

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    In my honest opinion, unless you want to make partner, get out of public as soon as you really like whatever it is you exit salary would be.
     
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  46. Doug

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    As a non-CPA (6 years public) now industry accountant - get out of that side altogether. The pay and hours are great on this side of the fence.

    This.
     
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  47. TLAU

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    I will say the first 5 years I was working for my dad’s firm in AL while getting 2nd degree in accounting and getting certified. And it’s a very slow paced and simple firm so I didn’t show up at this firm with what people would expect with 5 years of public experience (I’d say it equated to ~2 years worth of knowledge). But 5 years here and CPA by itself should have gotten a manager title by now.

    But yea agree with everyone saying get out. Was trying to give them one more good tax season this year and see if they put out after my review but they didn’t so here I am

    Got two small public firms with a <10 year track to partner that I’m gonna entertain just because the consultants recruiting for them have sent multiple messages this year. Definitely want to go into industry and be done with tax seasons. Just honestly not sure what level or what positions to search/apply for because I’ve never given private any thought until recently. Feel like I need a career guidance counselor to lay out some goddamn private industry flow charts
     
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  48. TLAU

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    Also have several friends that have been in public or private out here that have changed jobs in the past 1-2 years and they all say the market is heavily slanted in favor of employees in Austin. So I honestly would feel comfortable interviewing for jobs that could be currently “above my pay grade”...
     
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  49. Cheshire Bridge

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    Reach out to a recruiter. Why is partner important to you? Money? Status? Challenge? The actual job function? Once you figure that out, tell the recruiter and they'll set you up with interviews that kinda sorta fit it. The point of the recruiter will be to simply see what's out there in terms of job function and salary.


    You sound entrepreneurial..... You can start your own firm as another location of your dad's if he would let you......
     
  50. momux

    momux AFAM Scholar
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    Industry is the way to go if you’re self motivated and can find the right role with upside opportunity.

    I’m 6 years into my career (3 years public and 3 years industry) and making a lot more than the B4 managers who were my class in the MAC program with a hell of a lot better work life balance. I did move out of the accounting world into a more generalized finance role.

    Highly recommmended.
     
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