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How to Find All the Compensation Threads on Going Concern For Total Idiots

So, the other day we got this gem in the tip box — which, by the way, isn't supposed to be used for crap like this as I have told you people 1,000 times: This website is terrible and very disappointing this year. It is impossible to find comp watch's for 2014 for big 4. […]

Anyone Who Actually Believes This Spam Is From the AICPA Deserves To Lose Their CPA License

A tipster sent us a frantic suggestion that the AICPA member list may have been "hacked" but after about 3 minutes of digging (let no one say we're lazy journalists), we easily debunked the emails in question as general spam and nothing for AICPA members to be worried about. If a biologist is getting the […]

Dear Nonprofits, Today Is Really Your Final 990 Deadline (No Seriously, Final)

Just in case you have been hiding under a rock for most of 2010, the big deal for nonprofits has been this whole 990 requirement and, more specifically, the fact that many still haven’t filed information returns despite every trick in the book by our friends at the IRS to get them to comply.

First they asked nicely. Then they sent out reminders. And then they went so far as to give procrastinating charities an extension on the May 15th deadline so they could get their butts in gear and start filing away. Apparently this wasn’t enough for some offenders so the Service stepped it up a notch by calling everyone out in the hopes that being publicly humiliated might do the trick. We can only hope.


We found it especially interesting to see the Cal State Sacramento Accounting Society on the list of California 990 slackers but unfortunately didn’t have the time nor energy to comb through all 1,162 pages to see who else we know on the list. 1,162! In California alone!

We did manage to skim it, finding Oakland’s “Get Legit” and “Get It Together Inc” charities hilariously ironic considering the Service is just trying to get these lazy procrastinators to get it together. Perhaps those guys need to focus efforts on their own affairs and stay out of the community until they can figure this simple little task out. Get it together!

Listen people, this is serious. Sure the IRS said it was serious months ago but we’re serious it’s serious, one need look no further than the IRS document calling these guys out to know just how serious. “Exempt Organizations At-Risk of Revocation” makes it pretty clear at this point. Now we’re not saying today’s deadline is absolutely 100% but we’re pretty sure the Service is done playing around while nonprofits figure this out.

Want another good laugh? The American Tax Reform Committee, American Tax Reform Foundation and the American Taxpayers Alliance (all DC-based) must have been so busy trying to hook us up on some tax reform that they forgot to do some important interacting with their favorite agency. Whoopsie.

Even funnier, apparently the DC Internal Revenue Agents Association and Internal Revenue Service Employees Beneficial Association must have missed out on the memo as they are on the 990 slacker list too. Shock that.

P.S. – Internal Revenue Service Bowling League of Dallas, you guys are on the list too. Put down the ball and get on it instead, you of all people should have been the first ones with your 990s ready to go! Let’s not forget the IRS Employees Association of the District Direct in NY, Internal Revenue Service Employees Fund of Des Moines and Internal Revenue Service Employees Association of Wilmington, you guys have some ‘splainin to do.

Question for the Group: How Does One Get Into Cost Accounting?

One of our Twitter followers Markied85 asked us the following:

How would you suggest getting into cost accounting? it seems like one of those positions you fall into with experience.


Good question! Personally speaking, your humble editor only had a brief stint as a financial analyst that involved compiling internal reporting for a COO and that was after we had done our time in public/Big 4, so your thinking is on the right track.

If you accept an entry-level position with a private company, chances are you wouldn’t be tasked with providing reports to managers. However it is possible that you would be responsible for compiling these reports and depending on how the department is set up, one of your superiors would review and present the reports.

But what do we know? Like we said, our experience is limited so we just took quick shot in the dark. What we do know is if you are an in-house cost accountant, a CMA is good credential to set you apart from the rest in your group (plus, you’ll probably get more money).

If you’ve got good experience with this transition or you’ve been in a cost/managerial accounting role your entire career, let’s hear about it.

Hate Your Job a Little Extra Today? There’s At Least One Recent Accounting Grad That Will Gladly Take Your Place

Okay gang, we know this is a tough day. You quietly wept to yourself on your commute; you’re recovering from sunburns, hangovers and meat sweats. It’s an all-around bitch of a Tuesday. It’s bad enough that your weekends are ruined by your job but now your holidays have to be ruined too? We’d suggest doing away with holidays altogether but then all work and no play makes accountants duller than normal.

But you trudge on, capital market servant. You trudge. A lot of readers recite “I’m thankful to have a job in this economy” mantra which makes some of you sick. Whether your nausea at their grateful attitude is justified is a matter of debate but let it be known, there are people out there that would take that job that you detest with all your heart and soul at the drop of a hat:

Melanie Singer has been preparing for the job market ever since she entered college at the University of Dayton, a private Catholic school in Ohio.

Starting in her freshman year, she began working with a career counselor. She attended networking events, did three internships while in school full-time, and worked with a recruiter to help connect her with jobs.

Singer, 22, got good grades, studied abroad and even chose a degree — accounting — that was supposed to give her one of the best chances of finding work.

“Everything you read, accounting was in the top five positions to get a job in,” Singer says.

But while she was in school, the economy tanked. Today’s job market is worse than it’s been in at least a generation.

Singer can’t remember how many websites or companies she’s applied to — she began sending out resumes at the beginning of her senior year. A month after commencement, she still hasn’t found a job.

We certainly agree with “everything you read” statement. You’d be hard pressed to find a MSM list of any sort that places accounting or accounting firms in a negative light as it relates to a career choice. Maybe the accounting scene has taken a turn for the worse in the Buckeye State and she needs to venture out?

Whatever the problems in Ohio, it sounds like Ms Singer spent most of her college days practicing for job interviews rather than the traditional co-ed activities and yet has had a serious run of bad luck finding a job. This is unfortunate and we know that there are plenty of Ohio accountants out there that probably wouldn’t mind an extended vacation. So if you find yourself hating life a little bit more than usual today, perhaps you’d consider taking one for the team so Ms Singer can fulfill her dream of joining the workforce.

Accounting Grad Didn’t Figure On Job Rejections [NPR]

Face It. Your Resumé Probably Needs Work

Thumbnail image for hire me2.jpgOne way or another, lots of you are looking for jobs. The problem is that many of you have pre-tay, pret-tay, pre-tay similar work experiences. So how do you get your resumé to stand out without attaching nude glamor photos?
FINS has some tips including that may give you an advantage on your pavement pounding competition including:
The Basics – If you’ve got letters behind your name, put that at the top. Don’t slip it in as an afterthought.
Demonstrate How Skills Apply – If you’re a badass at anything, don’t be shy. SOX 404, tax planning, M&A, whatever your speciality, make it known.
List High-Value Experience – Mention how you explained accounting for derivatives to all your clients. Don’t mention nightmare inventory counts.
Head over to FINS to see all their tips including a before and after example resumé. Oh, and DON’T. DO. THIS.
Foot in the Door: The Perfect Accounting Resume [FINS]