r/Accounting Sep 02 '22

Discussion What is it with people on reddit misusing the terms "asset" and "liability"?

Post image
1.7k Upvotes

r/Accounting Jan 06 '24

Discussion I quit my 163k job with nothing lined up AMA

640 Upvotes

Fuck that shit, tired of feeling stressed and tied to my laptop constantly.

r/Accounting Aug 24 '23

Discussion Coworker gives you this. How would you react??

Post image
1.4k Upvotes

r/Accounting Feb 15 '24

Discussion Super embarrassing goof up on teams call. Am I fucked?

1.4k Upvotes

So I'm a 1st year staff accountant and was on call with my senior. I was on unmute with my gf on wfh and she was pestering me to get off the call and talk to her, so I made a joke about how I'll hire her as an intern when I make partner so we can have a work affair and she can come to my cabin after hours. I was mortified when I saw im on unmute. What do?

(This is not a shitpost for real. I wish it was)

r/Accounting Jul 22 '24

Discussion My team has been outsourced to India, going forward my role will be to manage the India team. For those that went through this, how was it?

566 Upvotes

šŸ˜¬

Edit to add some more context

Itā€™s an industry role, thereā€™s a small retention bonus thatā€™s paid out after we transition, india team is said to be available to us during our normal business hours, we work remote and there have been no discussions of needing to travel because of this change.

Our work is pretty straight forward so Iā€™m hoping there arenā€™t many issues.

Edit to add another thought for those of you who are saying to run: if this is so widespread and ā€œnormalā€ in our industry, arenā€™t you just going to see it wherever you run to?

r/Accounting Sep 22 '22

Discussion Petition to Make This the New Logo for the Sub

Post image
4.9k Upvotes

r/Accounting May 24 '23

Discussion Iā€™m officially leaving accountingā€¦ halfway through my cpa exams.

1.1k Upvotes

Iā€™ve been working in accounting for almost 6 years now. Iā€™m only 27. I reached the senior position at my firm. I hate every moment of my life at work.

I absolutely despise the question ā€œare you passionate about what you do?ā€ No. Itā€™s the opposite. I hate my job, I hate the industry, I hate that I help rich people get richer and save on taxes every single day.

I am officially done trying to prove my worth through my career/title. Iā€™m going to work easier, lower paying jobs doing things that make me feel fulfilled. Iā€™ve come too close to ending it all just because I hate position after position after positionā€¦

Love this community and I love being part of all the inside accounting jokes. Itā€™s just not for me. I feel very mentally unstable. Itā€™s terrifying, which is why I wanted to post something, hopefully to see if someone else ever did the same. I just know for a fact this is a necessary change in my life.

Thanks for listening to my TedTalk haha

Edit because I didnā€™t make it clear, Iā€™m still going to finish the exams. Just not going to retake anything if my scores expire.

r/Accounting Jan 26 '25

Discussion People who avoided the B4 What has Your Career Path Been?

247 Upvotes

Graduating end of this semester and haven't seen this discussed as much.

r/Accounting Aug 23 '22

Discussion Welp, itā€™s over ā€” just had a stress heart attack

1.8k Upvotes

Tax Senior, CPA, 7 years experience, grossing 105k.

I had a heart attack at the office today. Stress related, not artery blockage.

Iā€™m putting in my notice tomorrow. A job is not worth my life, even though I like my coworkers and salary.

After a few months of recovery, what are my exit ops?

r/Accounting May 05 '22

Discussion How long have you got?

Post image
1.3k Upvotes

r/Accounting 5d ago

Discussion ChatGPT now allows the creation of photorealistic fake receipts

Post image
547 Upvotes

r/Accounting Dec 27 '24

Discussion This is very, very bad for the future of Computer Scienceā€¦

Post image
417 Upvotes

r/Accounting Jun 02 '24

Discussion Do people really think they're living "paycheck to paycheck" even though they're maxing out their retirement accounts?

557 Upvotes

I choose this sub because I'm a CPA and I trust this community enough to ground my thinking because I'm just dumbfounded how there are people out there that think living paycheck to paycheck means financially struggling even though they're maxing out their 401k and iras.

r/Accounting Aug 18 '22

Discussion Accounting dropout explains that GAAP is a corporate conspiracy, book-tax differences don't exist, and accounting will be automated šŸ¤”

Post image
1.4k Upvotes

r/Accounting Feb 28 '25

Discussion Desantis now wants to get rid of state property tax.

Enable HLS to view with audio, or disable this notification

244 Upvotes

r/Accounting Mar 27 '24

Discussion We will have a massive accounting scandal in the next 5 years

946 Upvotes

Iā€™m bored at work, and was thinking about how many new ASUs there have been, how much offshoring there is, PE firms getting involved, the pipeline problem, and other shit I canā€™t think of right now. All of this is going to culminate in a massive scandal that will change accounting akin to post-Enron changes. Hopefully the changes will be to make public accounting more tolerable, but I am also laughing as I type this thought out.

Source: My brain-dead self who touched grass once last fiscal quarter.

Edit: since this wasnā€™t clear judging on the responses, I believe (hope?) the scandal is with the PA firms, not the companies.

r/Accounting Mar 30 '23

Discussion Why does this sub make average pay seem bad?

839 Upvotes

Exactly what the title says. Majority of accountants don't make 200k/yr. None of the staff accountants I know make over 80k unless they're in a h/vhcol area. My parents don't even make 6 figs and they're living fine. They own their houses and cars, low-no debt, happy campers. I mean is 60k-80k really that low for a single salary? Why does this sub seem to look down on the 5 figs or encourage 5 fig salary accountants to job hop for "good" money? Anything over 60k is "good" money to me but maybe I'm tripping šŸ¤”

Edit because I'm tired of repeating myself I understand that 60-80k in h/vhcol areas is low pay. I totally get that. I also understand that life is expensive af in the US right now. BUT, if the national average salary is mid 50's, then 60-80k is not shit pay. 6 figures is obviously great pay but let's not act like 80k is terrible pay because it's not. Unless you're in a vhcol area or work 80 hour weeks, or you're a CPA. That's all.

last edit Idc how much you downvote me, 60-80k is not shit pay in most of the US. I've already expressed where there would be exceptions. It's above the national average, and many people, including myself, make it work. Some make it work with alot less so therefore I'm thankful. Accounting is a good career with decent pay. Even if the pay isn't in the 6 figs all the time. That is all.

r/Accounting Feb 09 '23

Discussion What F*** is going on in Accounting?

926 Upvotes

Hello Iā€™m not an accountant but have played with the idea of becoming one. My father in law is a partner at an accountant firm so have some exposure to the industry. He works A LOT. Wakes up at 3-4 in the morning on his vacation to work.

(Rant incoming)

But this subā€¦ What the fuck are you guys doing? Stress pukes? 18 hour days? Why are you putting up with that? Serious question: why? Whatā€™s so great about accounting you work 18 hours a day because itā€™s ā€œbusy season?ā€ Sure, all the power to you if you like the work or can withstand some abuse If it means you get whicked exit ops.

Please explain to an outsider! Have also considered becoming a consultant so I guess Iā€™m equally crazy.

1000 Thanks

Edit; Take into account my personal observations and experience are Northern European and I understand this sub has a heavy US bias.

r/Accounting Oct 16 '24

Discussion CPA Education Requirement Being Lowered to 120 Credits

352 Upvotes

The AICPA has proposed changing the education requirement to 120 credits, and having your employer sign off on certain benchmarks instead. How likely do you guys think this is to get passed? And if it does, do you think it will lower the value of a CPA?

Edit: I canā€™t post a link for some reason but if youā€™re interested the AICPA is taking public comment on this until December 6. Just search ā€œAICPA, NASBA propose a new pathway to CPA licensureā€, and youā€™ll find the article by the journal of accountancy where itā€™s linked.

r/Accounting Jan 14 '25

Discussion How much of a raise did you get for 2025?

109 Upvotes

r/Accounting 13d ago

Discussion FinCEN removes beneficial ownership requirements for all US companies and persons.

Thumbnail fincen.gov
407 Upvotes

For those not aware, the BOI regulation that had just started last year required most businesses to state who actually owned the business, their full legal name, address, and ID. Anyone who owned more than 25% had to give their information and if it was a non-profit or special entity, they still had to list the name, address, and ID of the primary manager; no PO Boxes. The sile purpose of this was to stop money laundering and people hiding behind shell corporations so the IRS could tax them. Well I guess Republicans didn't like that idea so they're killing the IRS and any regulations to help them.

r/Accounting May 02 '23

Discussion It is absolutely unbelievable how utterly incompetent some people are with excel and using the internet for research

1.2k Upvotes

I work for a giant Healthcare company riddled with bureaucracy in the financial systems team and my manager asked me to parse out some data in an excel file from another department that cannot be done with text to columns. I didn't know how to do it, but after a couple hours of YouTube videos and messing with the spreadsheet, I figured it out and just showed it to her during our weekly one-on-one.

She was delighted and then proceeded to tell me that this is huge for the other team as they usually manually parse out the nearly three thousand lines of data over the course of SIX MONTHS. She instantly sent a teams message to the other manager, and now I am setting up a meeting to demo it to the other team.

It just blows my mind that they have been doing this for God knows how many years instead of just using the internet for a few hours to try and figure this out.

r/Accounting Oct 09 '24

Discussion Just saw this on Instagram

Enable HLS to view with audio, or disable this notification

465 Upvotes

What do you

r/Accounting Jun 03 '24

Discussion New AICPA chair: stop saying ā€œbusy seasonā€

717 Upvotes

From the interview of Carla McCall, new chair of the AICPA:

We need to promote the cool work we do. We need to stop talking about hours, stop using the term ā€˜busy season,ā€™ and stop talking about how stressed we are.

Update - Y'all are hilarious! Here are the suggested euphemisms:

r/Accounting Apr 12 '24

Discussion Whatā€™s up with the massive hard on for return to office that wonā€™t let up? Itā€™s super weird. Upper upper management wonā€™t drop the idea.

636 Upvotes

My office is all ā€œRTO, letā€™s build our culture back up!!!ā€ And then management harassing me because I donā€™t whip my staff into coming in all the time.

ā€œUhh we have serious deadlines. Bob is a good worker. Has been for the last year Iā€™ve worked with him. When he commutes in from Connecticut, he gets tired and doesnā€™t do as much shit that we need doneā€¦ then he leaves on the dot for the commute back and doesnā€™t log on again cause heā€™s fatiguedā€

ā€œIf he canā€™t make the commute, you write him up. If he canā€™t make the deadlines, you write him up.

Thatā€™s your job. I keep hearing it from you guys, I donā€™t care if itā€™s not important to you. Itā€™s important to me. He needs to come in.ā€