T-Accountants Unite

I have always heard it was an impressive certification especially if you are working in industry. I work in manufacturing so I am thinking it might be worthwhile to add the CMA. I do have a CPA but I have been kicking around the idea of adding another. Might be a good certification to have on the old resume.

[quote]Kayrob wrote:
I have always heard it was an impressive certification especially if you are working in industry. I work in manufacturing so I am thinking it might be worthwhile to add the CMA. I do have a CPA but I have been kicking around the idea of adding another. Might be a good certification to have on the old resume.[/quote]

Ya, Iā€™m in a similar boat. Iā€™m not a CPA, but Iā€™m in publishing (sorta manufacturing) and donā€™t plan to leave. If I do it will likely be to go government since Iā€™m so close to DC & Northern Virginia. At this point I doubt Iā€™ll end up in Public Accounting.

I though it might complement an MBA well, which is something I plan to pursue in a couple of years.

Guys, I got a graduate school interview for the Kelley School of Business at Indiana University. This is for their MSA program. It is going to be a group interview and I have never done that type of interview. I am not sure if it will be a group of applicants or group of interviewers. I am usually good in interviews. I thought I could ask you guys for some advice, maybe one of you has experienced this. Thanks!

[quote]stefan128 wrote:
Guys, I got a graduate school interview for the Kelley School of Business at Indiana University. This is for their MSA program. It is going to be a group interview and I have never done that type of interview. I am not sure if it will be a group of applicants or group of interviewers. I am usually good in interviews. I thought I could ask you guys for some advice, maybe one of you has experienced this. Thanks![/quote]

Iā€™ve had a couple of group interviews (2-5 interviewers) and they really arenā€™t much different. My only advice would be to address each interviewer as if they were the only other person in the room when theyā€™re speaking to you or the group of you. Make sure you arenā€™t looking around at the other interviewers or interviewees if itā€™s a group of you when one person is talking. Instead look directly into the speakers eyes and donā€™t be afraid to address that person (if they greet you specifically greet them back).

Short story, I was up for a meritorious promotion while in the service and a part of the process is basically a group interview (5 senior Marines asking you various questions). Itā€™s obviously a little different, but most of the group interviews Iā€™ve had since where very similar. One of the criticisms that the Gunnery Sergeant overseeing the process passed to the group of us (about a dozen if memory serves) was that each interviewer would introduce themselves, say hello, and ask how we were doing. Not all of the interviewees returned the pleasantry and it cost a lot of good Marines a shot at the promotion. Just food for thought.

[quote]stefan128 wrote:
Guys, I got a graduate school interview for the Kelley School of Business at Indiana University. This is for their MSA program. It is going to be a group interview and I have never done that type of interview. I am not sure if it will be a group of applicants or group of interviewers. I am usually good in interviews. I thought I could ask you guys for some advice, maybe one of you has experienced this. Thanks![/quote]

I had to go to a group interview for MBA schoolā€¦it was actually a lot easier than a 1v1 interviewā€¦1v1 you donā€™t click with the guy youā€™re talking with youā€™re done forā€¦3v1 you can definitely bond with one of themā€¦

Good luck !

So long as people are asking about different certifications, is anyone here a CFA charterholder? Iā€™m a CPA in public accounting but the biz has gotten a little stale for me, so Iā€™ve been pursuing the charter to (hopefully) open up some career opportunities.

Especially because Iā€™d one day like to work overseas for a little while and the CFA charter is internationally-recognized whereas the CPA is not. I donā€™t really have a specific role in mind in financial services, but if anyone has any advice on changing industries, itā€™d be great to hear. Thanks.

[quote]usmccds423 wrote:
I still might go for it, but itā€™s not a cheap investment. Itā€™s much cheaper than the CPA though. [/quote]

Responding to myself, ā€œNo asshole, it is notā€¦ā€

Repost out of PWI:

[quote] usmc wrote:
Hey Beans,

Selfish derail: I know youā€™re a CPA, are you also a CMA? [/quote]

[quote]usmccds423 wrote:
Repost out of PWI:

[quote] usmc wrote:
Hey Beans,

Selfish derail: I know youā€™re a CPA, are you also a CMA? [/quote] [/quote]

No. Thought about it, but Iā€™ll get my Series 7 before that.

[quote]countingbeans wrote:

[quote]usmccds423 wrote:
Repost out of PWI:

[quote] usmc wrote:
Hey Beans,

Selfish derail: I know youā€™re a CPA, are you also a CMA? [/quote] [/quote]

No. Thought about it, but Iā€™ll get my Series 7 before that. [/quote]

Nice. My wife has her series 7 (and the 66 I think). It wasnā€™t nearly as bad as the CPA exam according to her.

[quote]usmccds423 wrote:

[quote]countingbeans wrote:

[quote]usmccds423 wrote:
Repost out of PWI:

[quote] usmc wrote:
Hey Beans,

Selfish derail: I know youā€™re a CPA, are you also a CMA? [/quote] [/quote]

No. Thought about it, but Iā€™ll get my Series 7 before that. [/quote]

Nice. My wife has her series 7 (and the 66 I think). It wasnā€™t nearly as bad as the CPA exam according to her.

[/quote]

Not much is as bad as the CPA. Itā€™s not even that the test itself is hard, it is easier than actual work lol, it having the discipline to actually sit down and study all that shit, and there is a lot of shit.

[quote]countingbeans wrote:

[quote]usmccds423 wrote:

[quote]countingbeans wrote:

[quote]usmccds423 wrote:
Repost out of PWI:

[quote] usmc wrote:
Hey Beans,

Selfish derail: I know youā€™re a CPA, are you also a CMA? [/quote] [/quote]

No. Thought about it, but Iā€™ll get my Series 7 before that. [/quote]

Nice. My wife has her series 7 (and the 66 I think). It wasnā€™t nearly as bad as the CPA exam according to her.

[/quote]

Not much is as bad as the CPA. Itā€™s not even that the test itself is hard, it is easier than actual work lol, it having the discipline to actually sit down and study all that shit, and there is a lot of shit. [/quote]

Ya, I hear you.

The CMA exam doesnā€™t look to be as bad either, but itā€™s the same thing basically. It even looks like a lot of the topics are pretty redundant for a CPA. At least itā€™s only 8 hours worth of exams (2) instead of the 14 hours worth for the CPA exam.

If memory serves the series 7 is a 4 hour exam.

Anyone else have the CMA designation? Iā€™m taking part II in June. Iā€™ve heard part II is the harder of the two and should be taken first so thatā€™s how Iā€™m attempting it.

Since USMC revived this thread and tax season is upon us, I thought Iā€™d ask this here.

Can we write off legal and accounting expenses (about $1,200) incurred in 2014 in our search to buy a business? We had a deal that fell through in the fall of last year during due diligence, but we needed some input from our attorney and CPA. We ended up buying a business in January 2015, which is when we set up our SMLLC.

So given that we didnā€™t have a business or LLC in 2014, can we still write off those fees on our 2014 return?

[quote]Tyler23 wrote:
Since USMC revived this thread and tax season is upon us, I thought Iā€™d ask this here.

Can we write off legal and accounting expenses (about $1,200) incurred in 2014 in our search to buy a business? We had a deal that fell through in the fall of last year during due diligence, but we needed some input from our attorney and CPA. We ended up buying a business in January 2015, which is when we set up our SMLLC.

So given that we didnā€™t have a business or LLC in 2014, can we still write off those fees on our 2014 return? [/quote]

Canā€™t write off business expenses if you donā€™t have a business.

Edit: Should have said, canā€™t have business expenses if you dontā€™ have a business.

Bah. Ok thanks.

Would we be able to write them off our 2015 taxes then, or are we just SOL? (Iā€™m pretty sure I know your answer to this, but this crap is confusing for us mere mortals).

[quote]Tyler23 wrote:
Bah. Ok thanks.

Would we be able to write them off our 2015 taxes then, or are we just SOL? (Iā€™m pretty sure I know your answer to this, but this crap is confusing for us mere mortals).[/quote]

No.
Are you self preparing this year?

Yes, using TT. I posted in this thread last year about the overcharging by my CPA and wanted to avoid using him again. I got a bit of input from our tax atty on how to capture some LTCG but forgot to ask about the business expenses.

Thanks again for the feedback.

I donā€™t do taxes.

But Beans - wouldnā€™t he be able to have a sole proprietorship in FY 14, basically a shell company, looking for an acquisition? File the sole proprietorshipā€™s taxes as of 2014 with the small loss which he would not be able to deduct against his ordinary income. But the loss could be used to offset future income of the business after the acquisition has taken place?

Seems legit to me. These are legitimate business expenses that he has incurred, no reason he should have to eat those costs without them being tax deductibleā€¦eventually.

[quote]LankyMofo wrote:
I donā€™t do taxes.

But Beans - wouldnā€™t he be able to have a sole proprietorship in FY 14, basically a shell company, looking for an acquisition? File the sole proprietorshipā€™s taxes as of 2014 with the small loss which he would not be able to deduct against his ordinary income. But the loss could be used to offset future income of the business after the acquisition has taken place?

Seems legit to me. These are legitimate business expenses that he has incurred, no reason he should have to eat those costs without them being tax deductibleā€¦eventually. [/quote]

You, my friend, have clearly stated what I was trying to imply above with the ā€œyou canā€™t have business expenses without a business.ā€

But I donā€™t have time to look up the particulars of this, for some reason, and I may be wrong, I seem to think there are special rules for these type costs. I may have them confused with something else though.