October 18, 2018

Expectations

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Accounting Firm Partners Everywhere Managing Expectations at Home

CPAs’ cats everywhere are all like… It’s been a wild week in the tax world, even if it’s mostly been bluster. Talk of tax cuts has corporate executives, rich people, and sitting U.S. Presidents all hot and bothered. But it probably has a lot of accounting firm partners fantasizing too, not only because they’re dreaming […]

Life in Public Accounting: Expectations vs. Reality

You are here reading this very website because at some point, it dawned on you that this whole thing is kinda bullshit. So, in that spirit, let’s take a look at the soul-crushing reality that is made only more depressing due to your unrealistic, pre-public expectations.

Bonus/Comp Watch ’13: KPMG Advisory

Sometimes on a hot summer day there's nothing better to do than talk about but money.  A recent memo from KPMG's advisory leadership entitled "Outlook for 2013 Compensation" is happy to share the news that FY 2013 has been motoring along and that they are cautiously optimistic the last quarter will round out nicely:  We […]

Layoffs Watch ’12: KPMG Cuts Have Some People Spooked

Last month we learned that KPMG's UK operation announced its "regrettable" plans to tell 300 of its people to hit the bricks. While there hasn't been any other Big 4 firms in the Queendom, the news out of the House of Klynveld has people concerned: The job cuts announced by KPMG could be the start […]

Already Doubtful Big 4 Advisory Intern Needs Help Managing Expectations

Just starting out your career and unsure of your path? Worried that drinking Dr Pepper 10 and using too much Axe body spray might give your co-workers the wrong impression? Need help picking out your outfit for your first day as a new hire? GC is here to help, hit us up. I'm currently a […]

What Kind of Raise Can a New CPA at a Publicly Traded Company Expect?

Looking for the right way to tell your colleague he has a hygiene issue? Not sure if dark khakis go with that dusty blue button-up shirt? Want confirmation that you haven't sold your soul to the Devil himself? Get in touch with us and we'll do our best to help without making you cry. Hello […]

Bonus Watch ’12: KPMG Advisory Sets Some Expectations

Our tipster, "I Need to Be Top Rated," informed us that these came out "awhile back" but since everyone has been checked out the last two months, I forgive you. Current Level 1-Rated 2-Rated 3-Rated 4-5 Rated Director /          Sr.Manager / Manager 11-15% 8-11% 3-7% 0% Sr. Associate 9-13% 7-10% 2-6% 0% Associate 7-11% 6-9% […]

More KPMG Comp News: For Some In Chicago, Expectations Are More or Less Met

Some of you may have heard enough KPMG compensation news but judging by traffic patterns, most of you have not. And reports are still coming in, so it’d be a disservice to keep you in the dark.

The latest news out of Chicago:

This info is for Chicago, Audit. Most of us had our talks Thursday or Friday, however I hear that some are still continuing into Monday.

A2 to SA1, SP+ rating, received 10% raise and 2% bonus. Same level, EP rating, received 13% raise and 5% bonus. I am also finding out that SP vs. SP+ has no difference at all. This is based on a salary of $56,000 which was our original starting salary (also included a $5000 sign on bonus) as we received no raise last year. This is pretty much in line with what the now S2’s received over the past couple years, as they got 5% raise after their first year and 5% raise for being promoted to senior last year when everyone’s salaries “stayed flat” as my partner put it. What I would really like to know is what A1’s to A2’s received, as last year they had the same starting salary and bonus as what I began with, so they were essentially making more than A2’s for an entire year due to the bonus.

SA 2 to SA3, EP rating, 8% raise and 5% bonus. My managers also don’t seem to excited, but I obviously did not ask them what their actual numbers are.

I believe everyone on my team feels this is what they expected raise wise, but are rather disappointed with the bonuses. Some additional information, raise numbers are consistent across all business units within the office.

It’s also our understanding that convos are still going on in New York this week, so continue to keep us updated.

Here are Five Essentials to Successful Mentoring

The following post is republished from AccountingWEB, a source of accounting news, information, tips, tools, resources and insight–everything you need to help you prosper and enjoy the accounting profession.

It is such a wonderful feeling to see that many of your firms are taking REAL action steps towards creating a culture of mentoring within your firms, a culture that is “alive and healthy.” It is not just a document, laying on a shelf somewhere that some people follow and some don’t.

In a successful mentoring connection, the mentor and the mentee must both want the relationship to work and be willing to commit time and energy to the process. Five elements are essential:



Respect: This is established when the mentee recognizes the knowledge, skills, and abilities of the mentor and when the mentor appreciates the success the mentee has reached to date and the mentee’s desire to develop to their full potential.


Trust: Mentors and mentees should build trust through communicating and being available, reliable, and loyal.

Partnership Building: The mentor and mentee are professional partners. Barriers that partnerships face may include miscommunication, an uncertainty of each other’s expectations, and perceptions of other people. In order to overcome these barriers, they should work together to maintain communication, address and fix obvious problems as they occur, examine how decisions might affect goals, and have frequent discussions on progress.

Realistic Expectations and Self Perception: A mentor encourages the mentee to have realistic expectations of the mentee’s capabilities, the amount of time and energy the mentor can commit to the relationship, and what the mentee must do to earn their support for his/her career development. The mentor gives honest feedback when discussing the mentee’s traits, abilities, talents, beliefs, and roles.

Time: Set aside the time to meet, even by e-mail or telephone. Don’t change times unless absolutely necessary. Control interruptions. Frequently “check in” with each other via informal telephone calls or by e-mail.



For the Last Time: We Don’t Expect Much Out of the IRS

Thumbnail image for IRS_logo-thumb-150x140.jpgWe’ve mentioned this before but it’s worth stating again: are everyone’s expectations for the IRS unreasonable?
The National Taxpayer Advocate, Nina Olson, has released her annual report to Congress and it points out (among other shortcomings) that the IRS provides “unacceptable” customer service.
Sigh. Need we remind everyone that we’re talking about the FEDERAL GOVERNMENT? This is not Nordstrom’s where you can snap your fingers and another pair of gabardines appear.
Oh sure, maybe the Service is lowering its expectations: “[T]he agency’s goal is to connect 71 percent of callers to a real person, down from a recent high of 87 percent in 2004,” but doesn’t that seem reasonable for the IRS? Are we missing something? Is there some other dimension where the IRS is revered for its efficiency?
IRS Too Busy to Talk to 3 in 10 Who Call for Help [AP via ABC]
National Taxpayer Advocate Report.pdf