T Nation

T-Accountants Unite


#401

GAAP


#402


Merger


#403

"Two accountants are in a bank, when armed robbers burst in. While several of the robbers take the money from the tellers, others line the customers, including the accountants, up against a wall, and proceed to take their wallets, watches, etc. While this is going on accountant number one jams something in accountant number two?s hand. Without looking down, accountant number two whispers, ?What is this?? to which accountant number one replies, ?it?s that $50 I owe you.?

"An accountant is having a hard time sleeping and so he decides to go to see his doctor. "Doctor, I just can't get to sleep at night," complains the man.

"Have you tried counting sheep?" inquired the doctor.

The accountant replied, "That's the problem, Doc. I make a mistake and then spend three hours trying to find it!"

"A young accountant spends a week at his new office with the retiring accountant he is replacing. Each and every morning as the more experienced accountant begins the day, he opens his desk drawer, takes out a worn envelope, removes a yellowing sheet of paper, reads it, nods his head, looks around the room with renewed vigor, returns the envelope to the drawer, and then begins his day?s work. After he retires, the new accountant can hardly wait to read for himself the message contained in the envelope in the drawer, particularly since he feels so inadequate in replacing the far wiser and more highly esteemed accountant. Surely, he thinks to himself, it must contain the great secret to his success, a wondrous treasure of inspiration and motivation. His fingers tremble anxiously as he removes the mysterious envelope from the drawer and reads the following message: ?Debits in the column toward?t he file cabinet. Credits in the column toward the window."

'The accountant had just read the story of Cinderella to his four-year-old daughter for the first time. The little girl was fascinated by the story, especially the part where the pumpkin turns into a golden coach. Suddenly she piped up, ?Daddy, when the pumpkin turned into a golden coach, would that be classed as income or a long-term capital gain??"


#404

^Those are good


#405

I think I posted some auditing Chuck Norris jokes in this thread at some point, I think they were pretty good.


#406

My favorite:

If he finds an exception, Chuck Norris amortizes pain over the remaining useful life of the client


#407

How bad is it I wanted to comment how this joke is missing the word "Ordinary" therefore not funny.


#408

"An accountant told a fellow accountant the following joke"

'The accountant had just read the story of Cinderella to his four-year-old daughter for the first time. The little girl was fascinated by the story, especially the part where the pumpkin turns into a golden coach. Suddenly she piped up, ?Daddy, when the pumpkin turned into a golden coach, would that be classed as income or a long-term capital gain??"[/quote]

To his surprise, no laugh was to be had. Concerned, he asked if he understood the joke.


#409


The reaction of all T-Nation members if they ever show up at Beans's office


#410

Because it takes you longer to blow your budget?


#411

Need some advice about getting my CPA license...

I passed my exams in 2012 and started working at a non Big4 CPA firm as an intern for the 2013 busy season. After 4 months, they gave me a perm offer that would not start until Dec 2013... where I would have to take 6 months off and start again for the 2014 busy season. I couldn't take those 6 months without income so I landed a job at a start-up as the sole staff accountant. 5 months later got acquired by a huge well-known tech company. They gave me a 6 month contract to help integrate the start-up's business within Oracle. My 6 month contract expired this past week and they gave me a perm offer letter where I will be making 150% more than what I made 2 years ago. However, the new role means I will not be getting my CPA experience done and the further I go down this path, the further I will be from getting my CPA license.

I just bought a house in the Bay Area and have a newborn so I am probably going to take the offer. If I did not have these responsibilties, I actually wouldn't mind taking a huge pay cut to go back to a big 4 (who are calling me every week thanks to my experience in the last year) as a 1st year associate. But since that is not happening, are there other options to get the CPA experience requirement done on the side? Would a small CPA firm take someone who will do maybe 10 hours a week? I know that most engagements would take many more hours of dedicated work... so does the type of work for a part timer exist? Is that even reasonable? What are some things to say or do to convince them?


#412

Depends on the State. Since you said Bay Area, I'm assuming CA?

In most cases though, your work experience just has to be accounting under an experienced CPA. So if you are working under a Controller or something who has a CPA, you are good to go. I'm assuming your start up company has a controller or CFO who has a CPA license.

Other than that, part time work will only work if you are willing to put in 40-60 hours/week January-March/April. That's when they'd need you.


#413

Also, you typically have 5 years from the time you passed the last exam to apply for your license.


#414

This may be helpful.

http://www.another71.com/cpa-exam-forum/topic/no-cpa-at-company-can-audit-firm-attest-to-work-experience-in-florida

I know you are not in FL, but there is some good information here. One of our external auditors offered to sign for me, but I ended up at another company with a CPA a couple of levels up in the organization that signed on mine. I have no public accounting experience.


#415

I'm the President of a 501(c)(3). I don't take a salary. Am I able to use company funds to contribute to an IRA for myself? If not an IRA, could I set up a 403B plan?


#416

That's an interesting question...

I use to work for a 501(c)(3) and we had 403(b) plans. My spider sense is tingling though, something seems odd about it so I'm not sure.


#417

Are there any CMA's on here? I'm curious what thoughts are on the certification.


#418

Good question, I am considering this one as well. Do you have any other certifications?


#419

No. The main reason I've been looking into the CMA is because I do not work for a CPA so I don't have anyone to sign off on the work experience requirement. It's not the end of the world, but it is a bummer.

I emailed one of my tax professors that's a CMA (as well as CPA, CVA, & Ph.D.) and his thoughts were, "The CMA has been on the downswing over the past 10 years. Not that many people pursue it. The CPA is the better choice. Then add on an additional designation to specialize in a particular area."


#420

I still might go for it, but it's not a cheap investment. It's much cheaper than the CPA though.