/biz/ - Business & Finance

[Anonymous No.12821408]

redpill me on accounting

[Anonymous No.12821426]

>>12821408
You can get killed

[Anonymous No.12821447]

>>12821408
Could not possibly be more boring

If you've ever imagined ways it could be more boring, then your mind is too active and distracted to do well in accounting.

[Anonymous No.12821562]

>>12821408
I recently passed the CPA exam. I work in Big 4 tax.

[Anonymous No.12821606]

>>12821408
One of the only truly viable long term careers

[Anonymous No.12821610]

>>12821408
>>12821562
I don't even get how this is still a job.
You have your income and you have your outcome. Why the fuck can't this be done by a computer program?

[Anonymous No.12821630]

>>12821610
Not easy dodging taxes and laundering money

[Anonymous No.12821633]

>>12821610
It mostly is, accountants just interpret the data

Its like saying why do we have lawyers when a computer can just decide which laws you broke

[Anonymous No.12821640]

>>12821610
because of TAX you dumb nigger. Places like California has the highest personal taxes but also has the most write offs and kick backs.Literal lip service to the dumb masses who want rich people taxed into the ground.

Accounting isn't about numbers in numbers out. Its about being creative "within" legal bounds.

[Anonymous No.12821666]

>>12821610
You're confusing bookkeeping for accounting. Accounting is a pretty broad field that includes audit, advisory, consulting, and tax. Obviously few jobs are safe from automation, but I think it's a safe bet that accounting will endure for a while.

[Anonymous No.12821776]

>>12821610

It won't be a job when the government finally simplifies the tax laws instead of making it increasingly complex whilst they increase taxation rates.

Make people pay a flat rate on profit, somewhere around 10%-25% with no loop holes or complexity.

[Anonymous No.12821822]

>>12821776
lmao, no. The Internal Revenue Code will never, ever be that simple.

[Anonymous No.12821835]

Imagine you live life in greyscale and eat only plain white rice and drink warm water.

[Anonymous No.12821837]

>>12821776
Are you a still a child or legitimately retarded?

[Anonymous No.12822456]

>>12821408
You want an accountant that treats the IRS like Saul Goodman treats the Criminal Justice System.

[Anonymous No.12822878]

>>12821776
ITT: things that will never happen

[Anonymous No.12822883]

>>12821666
This.
I am an accountant but do FP&A, and I enjoy it overall. Pretty comfy and often interesting.

[Anonymous No.12822919]

>>12821610
An accountant's duty is to maintain the firms financial operations. Shit sounds easy, but it isn't.

The financials become spaghetti if you're not organized and don't know what you're doing.

It's easy to find an accountant, it's insanely difficult to a really good accountant.

[Anonymous No.12823136]

the only reason accounting is difficult is because accountants literally made it that way so they get paid

accountants literally create the most absurd "accounting practices" then you have to pay them so they can implement their bullshit

case in point, look at enron, look at mark to market, look at all the bullshit ways accountants use to make the numbers work when they really dont have any money at all

[Anonymous No.12823349]

>>12821408
It’s a shit job for shit people. Do t throw your soul away anon. I care about you

[Anonymous No.12823421]

Accountant here.

>>12821610
Fun fact. We use computer programs 99% of the time to tell us how to do taxes.

>>12821640
The computers tell us which write-offs/deductions/subtractions/credits people get, at worst it prints out a list we can go down.

>>12823136
>made it that way so they get paid
Can confirm, and even then it's still insanely easy. Whenever we have a new-hire or intern that regularly fucks up (which seems like every single one) I can't help but laugh.

>>12823349
This.

Accounting is insanely boring no matter which sub-field you go into. It is actually soul sucking work. If you're in tax and it's not a busy season for your firm you're still expected to be at your desk 9-5 and looking busy despite there being no actual work to do. I remember my first year I took on a project that involved just going through each engagement folder and fixing all the retarded MSWord mistakes that had built up over years of boomers touching them.

Audit is annoying because you're entire job and function is your clients last concern 75% of the time. Most of your billable hours will be sitting around badgering bookkeepers, controllers, and CFOs to get you your PBC items so you can do testing, which generally is obnoxiously stupid and doesn't show or prove anything. For some reason the general public thinks that audits from major firms are built to protect them and their money from fraud when in reality it's to make sure the company didn't put a .00001% of gross revenue item in the next year. I've seen some seriously fucked up books in my time though. Know how we handle those? We have a little sticker in Excel that is a lower case i inside a circle all in red. It means immaterial. That shit gets pasted on 90% of all issues we find.

I'm prepping right now for the GMAT so I can switch into banking post-MBA. I cucked myself in undergrad by saying, "I want a safe comfortable life, not those crazy hours and lifestyles." I was wrong.

[Anonymous No.12823609]

>>12823421
Big 4 CPA here. I'm in tax but my team audits tax provisions. If it's below de minimis then why not waive it as immaterial? I don't see what your point is.

[Anonymous No.12823625]

Partner at regional firm. Stick with it. The rewards are great. It’s alot of work but if you stick at it and are competent you will rise up.

Audit ftw

[Anonymous No.12823631]

>>12821408
writing down transactions from account x to account y
literally a chainlink external adapter

[Anonymous No.12823640]

audit sucks, tax sucks even more, and bookkeeping is for part time soccer moms. either do fp&a or transactions in you insist on being an accountant

[Anonymous No.12823641]

>>12821408
I’m a CPA working in corporate as financial analyst. It’s mind numbing kys and soul crushingly boring. Money is good. Some days I don’t want to kill my self.

[Anonymous No.12823648]

>>12823421
Lol at revenue comment. Agree that audits are not intended to catch fraud but disagree most of your job is chasing down clients. Seek out better clients.

Definitely long hours if you want to succeed.

[Anonymous No.12823650]

>>12823640
Nothing is worse than audit. Corporate tax can actually be enjoyable, especially on the consulting side.

[Anonymous No.12823666]

Friendly reminder to all the public guys/gals on her to put your time in before you leave.

[Anonymous No.12823686]

>>12823666
Big 4 tax here. Learn Alteryx.

[Anonymous No.12823814]

Do Not Be an accountant if you don't like shitty frustrating puzzles, working all the time, fighting to rise against people who are willing to work longer hours to get ahead, and doing the same thing over and over.

[Anonymous No.12823859]

>>12821610
In the real world most companies have difficulty maintaining their books in proper order or want to maximize efficiency.

[Anonymous No.12823861]

>>12821776
Define profit. Just blew your system wide open

[Anonymous No.12823939]

offered a 50k/year accounting job. Boss said I’ll likely work late hours and on weekends too.

Should I just take it so I can increase my link stack? Other option is to continue neet in my parents basement

[Anonymous No.12823968]

>>12823939
Is it exempt or hourly?

[Anonymous No.12823994]

>>12823968
Flat salary.

[Anonymous No.12824004]

>>12823609
>If it's below de minimis then why not waive it as immaterial?
You're implying that only things at that level are marked as such. Maybe at a big 4 they're less "lenient" on those types of things but at regional size we mark shit off all the time.

>>12823648
>Definitely long hours if you want to succeed.
Yeah, making partner when you're 40. There is no "success" as an accountant.

[Anonymous No.12824012]

>>12823939
You could work in ib for $120k a year and work the same hours.

[Anonymous No.12824026]

>>12821408
I don't remember this scene actually being in the movie

[Anonymous No.12824037]

>>12824004
I don't understand what you're saying. My question was why you think noting something as immaterial is a big deal. After all, auditors just provide reasonable assurance that the financial statements are stated fairly, in all material respects, the financial position of the client.

[Anonymous No.12824071]

>>12821610
Because normies are fucking stupid and they're too scared of fucking up their taxes by doing them on their own so they hire accountants. Also, the CPA exam used to be much easier back in the day, but it has been made to be so impossibly hard these days. If you manage to pass it, don't think for a second that it guarantees you a job. Most places will only take accounting graduates that have a 4.0. It's just not worth it anymore. Coding requires way less effort and the pay is about the same, if not higher.

[Anonymous No.12824091]

>>12824071
Not even true. You just need to go to a school with decent career services. I got into Big 4 tax just from networking. And I'm not a normie at all. Also, very few accountants do individual tax.

[Anonymous No.12824098]

>>12821408
HE'S GONNA TAKE YOU BACK TO THE PAST

[Anonymous No.12824299]

>>12824012
>just go get one of the most competitive jobs there is bro

[Anonymous No.12824472]

>>12821408

i work in wealth management. i have investment accounts and crypto. I do my own taxes. it's not that hard honestly.

i'm sure business owners who have more complex needs will surely need an accountant.

if you're still in school i'd major in computer science or mathematics instead.

[Anonymous No.12824680]

>>12824472
>if you're still in school i'd major in computer science or mathematics instead.
I would but I'm taking a programming class right now and it's just fucking dumb honestly, I'm not sure I would do well in CS considering I don't code in my spare time. Mathematics isn't exactly my strongest suit and I fear I'd be unemployable with a math degree alone

[Anonymous No.12824736]

>>12823861
>Tell me the definition. Oh what’s that? You can’t?
Lol you’re such a faggot lmao.

[Anonymous No.12824821]

>>12823421
Imagine being the client and having to do your job and answer a bunch of stupid ass questions from a 22yr old first year associate.

S.s.sir c.c.could I ask you about the vacation accruals?

[Anonymous No.12824852]

>>12823625
Thx gatty