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  2. In this 4 part series I'll be covering in depth the differences between a typical career in accounting starting in (Big 4) public accounting, and a typical career in finance starting in investment banking. First up in the series is a long term look a ...

    44 comments28 Jul 2014 -

  3. Maybe its just me (since I have selective reading, could very well be true) but when accounting firms and different groups within accounting firms are brought up "Business Valuations" is always asked about. So I thought would do an AMA on the my ...

    52 comments10 Nov 2014 -

  4. Does this thing matter? Is it worth putting in the time? If I've taken basic accounting classes is there a need to study? Does your employer see it? There are some old threads on this but nothing recently. accounting ...

    36 comments23 Feb 2018 -

  5. Just a quick question regarding accounting/modeling. I have been learning to model with BIWS and recently tried to model two companies on my own from scratch. The place I'm having problems with is reconciling the current year BS and cash flow stateme ...

    50 comments22 Feb 2014 -

  6. I know a good amount of accounting when it comes down to it. I'm not really a CPA though. Do you need to know massive amounts of accounting detail to be an analyst at a hedge fund? Say for different types like L/S, arbitrage, distress, etc. Seems lik ...

    41 comments25 Aug 2014 -

  7. Switch from Accounting to Consulting

    Management Consulting

    Hi everyone, I'm new to WSO so firstly I'd like thank you for help in advance! I'll give you a quick rundown of my background: (a)School: (1) Rising senior at Baruch College (Undergrad) (2) Major: Accounting, Minor: Graphic Design, GPA: 3.7 ...

    35 comments11 Sep 2012 -

  8. I will start applying to MBA programs next November and I have decided to pursue an alternative transcript to supplement my current stats. What classes should I take? I was thinking of taking things that I was really interested in learning about but the m ...

    35 comments10 May 2012 -

  9. Now that I have heard back from the business schools I applied to for undergrad I am attempting to make a decision on college. I would appreciate input. I'm taking out student loans for undergrad and I was wondering the prospects for me in I-banking ...

    18 comments12 Apr 2019 -

  10. MIND BLOWN!/ Connections?

    Job Search Advice

    2 Parts----------- PART 1 All that glitters isnt gold. I am absolutely mind blown at how many interns attend schools I never heard of (not top ranked) and they claim their friends who also attend these schools secure jobs at places like Morgan Stanley, Go ...

    27 comments19 Mar 2014 -

  11. I know this forum doesn't look to kindly on Big 4 accounting but it is the path I have chosen to start off with. Just to say it upfront I do intend to leave auditing after either year 3 or 4. I'll be looking to interview for a Big 4 full time jo ...

    27 comments20 Jun 2012 -

  12. My answer: IS: Nothing happens CFS: Cash flow financing: +100 Cash flow investing-100 BS: PPE +100, Liabilities: Debt +100 Balance sheet balances. My question is why the factories go under cash flow from investing? I thought I should treat it as INVENTORY ...

    26 comments24 Jan 2012 -

  13. JOB OFFER RESCINDED

    Job Search Advice

    So heres what happened. I had an offer in tax at a big 4 firm after my internship. My GPA at the time of recruitment was under 3.0 and I got in. Now a semester away from graduating and starting off they decided to rescind my FT offer. I currently carry a ...

    20 comments6 Sep 2014 -

  14. Big Four TS/TAS and Major?

    Management Consulting

    Alright so currently I am thinking about either majoring in finance or accounting, possibly a double major if I can do so. My goal right now is to try and get into Big Four TS/TAS valuations or similar. Would just an accounting major be enough to have a s ...

    24 comments13 Jul 2012 -

  15. To wrap up this 4 part series, I want to go into a little about the actual work itself and what you will be doing. Per usual, I will compare some typical roles in accounting with the typical roles in finance or banking. Accounting Audit In audit, your goa ...

    13 comments30 Jul 2014 -

  16. I am honestly a very very very hard working person, studied through nights, and I still keep having Bs in my GPA around 2.93 out of 4. Every job says they want someone with high gpa because they have dedication to stay long hours, but hello!!! i did, it j ...

    16 comments4 Mar 2014 -

  17. Don't flame me, I searched the site, no one ever gave specific questions. Now I've covered what I consider to be "easy" accounting questions: what happens when you change a/r or a/p, cogs, accrued liabilities, deferred revs, LIFO/FIFO. ...

    15 comments6 Oct 2016 -

  18. I am currently an honors business student at UNLV (University of Nevada-- Las Vegas), and I cannot decide between these two options: Graduate one semester early with a bachelor in accounting. Graduate one semester late, but with a double major in accounti ...

    17 comments18 Jun 2012 -

  19. Deleted

    Job Search Advice

    . accounting ...

    16 comments11 Feb 2013 -

  20. Hey WSO, Do you ever wish you could get notes and problems to brush up on your Economics, Accounting, or Corporate Finance skills? Or do you need to learn more about Designing and Sustaining Technology Innovation for Global Health Practice for the upcomin ...

    12 comments12 Jun 2012 -

  21. Goldman, Lizard, Morgan Stanley

    Investment Banking

    Wassup guys Just trying to get a sense of what to expect if I accept an internship at one of these three firms doing either Risk management,controller,corp treasury type work. Are these seen as mid office positions? Is there a valuable skillset to be deve ...

    15 comments29 Nov 2011 -

  22. Hi, I am currently a grade 11 student in Canada. I am studying in the GTA (Greater Toronto Area). At the moment, I achieve high marks in my school (Around 94-97%). I am involved in few clubs in my school. I am part of the Student Activity Council, part of ...

    14 comments3 Oct 2011 -

  23. Somehow I got an SA position at a great bank in NYC, but I'm not taking either of the mentioned courses until next year (didn't realize importance until it was too late). Is the learning curve going to be impossibly steep? Or does most SA work e ...

    12 comments17 Feb 2013 -

  24. Might seem lame to most but I'm just an accounting type of guy. Could anyone give their 2 cents on audit opportunities in bb vs big 4? In terms of salary and exit opps mostly. Also how does someone land an internal audit job at an investment bank? Mo ...

    12 comments6 Nov 2012 -

  25. Diversity program eligibility

    Investment Banking

    I've been looking at some diversity programs that presently recruit at my midwest semi-target school. I do not qualify as a diversity applicant, but some of these programs appear to state that they are also available to "exceptional students&quo ...

    11 comments23 Aug 2014 -

  26. . accounting Salary ...

    11 comments8 Jan 2016 -

  27. Hey WSO, first time posting. I didn't see an accounting sub forum so I decided to ask here. I have a question and that is, does where you go to school for an accounting degree matter in the eyes of the Big 4. I live in Canada, and go to a college, th ...

    12 comments26 Mar 2012 -

  28. I'm Looking at a company who uses the direct method to get to CFO. Cash Receipts from customers is $7bn but revenue as recorded on the IS is $6bn. Receivables only fell by c.200m so I'm not sure where the rest of this $800m is coming from. Any i ...

    10 comments16 Jun 2014 -

  29. Congratulations on getting an internship. Public accounting is a great start to your career. If you’re still on the hunt for an internship, check out the Big 4 Blueprint, where I outline networking, the Big 4 interview questions and how to answer them. Yo ...

    8 comments26 Jun 2014 -

  30. I don't know if any of you have been following the Ebix trainwreck today, but the tl;dr is that they had some accounting issues that are now getting an investigation by federal attorneys. I did some digging and found that KPMG resigned as their audit ...

    10 comments20 Jun 2013 -

  31. I'm currently a sophomore (Rising Junior) at a target school for accounting. Would be possible to land a FT position at the Big 4 without having an accounting degree or being CPA-Eligible? I am currently a double major in accounting and business admi ...

    10 comments25 Apr 2012 -

  32. In my eyes, they're both pretty boring, but I wanna look at backups.. What in your opinion wins out in each of: Starting salary (including bonus) Long term wage growth (my guess would be accounting but I dont know much) Competitiveness to get in (wit ...

    10 comments13 Mar 2012 -

  33. It has been my goal since my senior year in high school to become a senior partner at a Big 4. I am now a rising sophomore in The McCombs School of Business at The University of Texas. I am in the Master of Professional Accounting Program and will be grad ...

    9 comments3 Jul 2014 -

  34. JD to MSA

    Business School and GMAT

    Curious as to whether JD--> MSA/Macc makes sense? Know anyone that's done it with success/with no success? Worth the extra year and money? Job prospects? etc. Tax consulting would be the goal. Any info at all- positive and negative- would be much ...

    9 comments12 Sep 2012 -

  35. Using the assumptions and information below calculate the company's gross PP&E at the end of the year. Beginning gross PP&E: 100 Beginning accumulated depreciation: (70) Beginning net PP&E: 30 Sales: 100 Capex % of sales: 10% Depreciation ...

    9 comments16 Jul 2012 -

  36. HI monkeys, i am in need of your help~~ i attached the picture of my question.. please follow the red lines for question 1, and blue lines for question 2... image here: http://i47.tinypic.com/nd671f.jpg thanks!!!!!!!!! will give out many silver bananas He ...

    9 comments16 May 2012 -

  37. Accounting Busy periods The longest hours for accountants will usually be during their time in public accounting. There is a good amount of travel, frequent periods of long hours including "busy season" which can be more than once a year. Audit ...

    7 comments28 Jul 2014 -

  38. Say a company has debt with book value 100. It goes into distress and buys back all of it for 50 cents on the dollar. Cash goes down by 50, correspondingly debt goes down by 50. But that leaves 50 in debt whereas the whole debt was bought back, Where/how ...

    8 comments22 Oct 2014 -

  39. Now taking Financial Accounting

    Investment Banking

    I am now taking Financial Accounting as a sophomore. I want to go into banking (interning at a PE firm starting Monday) and I want to get the most out of my accounting classes. Does anyone have any tips for me regarding the class? Thanks. Investment Banki ...

    8 comments30 Aug 2012 -

  40. Hey guys, what's the difference between a course that focuses on "financial accounting" and "financial statement analysis"? accounting ...

    8 comments19 Jun 2012 -

  41. I'm an accounting student who will be attending a top MAcc next year intending to work in Big 4 tax. I really have no idea what I want to do afterwards, but I do know I would make a shitty partner and therefore had no intent of sitting in the SM park ...

    8 comments23 Apr 2012 -

  42. Hi there, I've been working on my resume alone using guides from the internet. I would deeply appreciate any feedback on how it can be improved. My current targets are entry level Financial Analysts and Junior/Intermediate Accountant positions as I w ...

    7 comments3 Oct 2012 -

  43. I have recently landed an internship for the summer analyst program at Societe Generale CIB in the accounting and finance department. I understand that this is not front office, but its the best thing I could get this summer and I'm pretty happy with ...

    7 comments27 Apr 2012 -

  44. And as a result you need to add them back in to get EV..? accounting ...

    6 comments10 Oct 2016 -

  45. I am about to begin my last year of my Master's in Accounting program, and I currently work for a small "part-time CFO" firm, where we do everything accounting/finance related aside from taxes for small to medium sized companies. I'm a ...

    6 comments27 Jul 2014 -

  46. Hey all, I'm in incoming freshman at a non-target school (picture is a hint) that is fairly well represented on wall street meaning it (apparently) has pretty solid networking opportunities as well as decent finance, economics, and accounting program ...

    6 comments18 Apr 2014 -

  47. MBA student with concentrations in Supply Chain and Finance-Investments. Would love to work in IB or a Hedge one day. I know a family friend who is a partner at E&Y. He told me to contact him regarding a possible internship but I despise Accounting. A ...

    6 comments3 Oct 2013 -

  48. CIMA

    Investment Banking

    Does a CIMA qualification help for IB? Is it useful for modelling, etc. I think financial analysis is way diff than acc.. Does accounting help though? Thnks.. accounting ...

    6 comments27 Sep 2012 -

  49. Why are footnotes so important?

    Investment Banking

    Why are footnotes so important?? Someone told me that they're just as important as the statements themselves?? An explanation and an example would be really help me understand this.. I'm just a sophomore in college, so I apologize if this sounds ...

    6 comments2 Sep 2012 -

  50. Title is pretty informative. I'll be a junior in the PSU Smeal College of Business this fall. My GPA could certainly be higher but I'm working to make up for it with leadership and involvement. Two cool internships, one at a boutique PE firm and ...

    5 comments31 Jul 2014 -

  51. Basic accounting question

    Investment Banking

    Quick question: Assume a firm has the following simplified balance sheet: Assets=300 Debt=100 Equity=200 Now assume the company's credit rating is downgraded. Does the balance sheet still accurately reflect the value of its liabilities? accounting Sa ...

    5 comments7 Dec 2013 -

  52. Accounting technicals

    Investment Banking

    Last week at work, someone shared this potential interview question as we discussed full-time recruiting for those trying to lateral. I would love to hear people's answer to this question: "Give 5 ways to increase cash without touching the incom ...

    5 comments12 Aug 2013 -

  53. So I have an interesting general question for this forum... ...

    5 comments12 Mar 2013 -

  54. accounting interns/ jobs

    Job Search Advice

    Are they hard to find or get? My dad thinks it is, but I don't think so. My dad thinks it is because Im from a non target and he thinks those with masters get it than those with bachelors. accounting ...

    5 comments3 Jan 2013 -

  55. I posted the other day and it was somewhat helpful, so now I am going to attempt to narrow it down. I am from a large 2nd tier (maybe 3rd?) state school. I am an undergrad, and graduating this upcoming spring. I have a 4.0 GPA, and I am majoring in accoun ...

    5 comments5 Oct 2012 -

  56. Big 4 M&A Tax Over IB

    Investment Banking

    I'm a sophomore at a semi-target majoring in econ (minoring in acct) and am deciding whether to go into IB or Big 4 accounting. I want to eventually start my own firm and think that if I work in taxes, I could start my own accounting firm after 5-6 y ...

    5 comments3 Oct 2012 -

  57. Why does combined EV increase?

    Investment Banking

    Lets say company A has EV of 100, Market Cap 80, Debt 20 and company B has EV of 50, Market Cap 30, Debt 20 When company A acquires company b, the combined EV is 180 (100+50+30) according to my notes I guess my question is, why does the acquisition result ...

    5 comments25 Feb 2012 -

  58. I dont really get why nothing happens to the income statement. accounting ...

    5 comments24 Jan 2012 -

  59. A day ago I had an interview for an IB position and was asked the following question, which in general is simple, but some details got me confused: A piece of equipment was bought 5 years ago for 100k. Annual depreciation is 10k. In the middle of this fis ...

    4 comments1 Nov 2014 -

  60. Accounting Student Questions

    Management Consulting

    Please pardon any naivete I'm about to reveal, but I'm currently an undergrad accounting student trying to escape my apparent destiny in audit. I've been reading up on the many aspects of management consulting but I had a few questions I wa ...

    4 comments4 Aug 2014 -

  61. Into and plea for guidance

    New User Introductions

    Hello everyone. I'm a rising junior at Penn State in desperate need of ideas to get me out from the hole I have dug for myself. I am an accounting major and currently have a 3.33 GPA, some level of involvement (social fraternity positions, community ...

    4 comments13 Jul 2014 -

  62. Hey guys, a quick one- anyone kind enough to help on the below scenario please? Thanks! AssociateCo has assets $100, liabilities $20, equity $80. As of last years close, ParentCo owns 40% stake in AssociateCo, i.e. 'investment in associate' BS i ...

    4 comments11 Jul 2014 -

  63. Rising Junior at a Non-Target school extremely south of Mason Dixon line; majoring in Accounting and probably going to minor in Finance. I was wondering which career is better to get into? IB or Big 4 I want to know whats Investment Banking like? (for exa ...

    4 comments8 Jun 2014 -

  64. New Accounting Graduate

    New User Introductions

    I am about to graduate with a degree in Accounting but I am leaning more toward the Audit side because Tax seems insane. I live in Atlanta, GA and go to Georgia State University. I was never able to get an internship because I had to pay my way through sc ...

    4 comments19 Mar 2013 -

  65. NI & NI on CF don't match?

    Investment Banking

    I'm building a case study 3-statement. I'm given monthly IC, BS, and CF numbers. For IC and CF, I added the months together to get the annual #s as I am only want to model FY numbers.... I finished the IC and the BS, and am now trying to start t ...

    4 comments21 Oct 2012 -

  66. Why tax

    Job Search Advice

    Hello guys, I am going through an interview process with big 4 and I am told that that I will be asked a question: "why tax?" I am trying to know what to answer. I know my answer should be "say whatever you think is the reason you picked a ...

    4 comments23 Sep 2012 -

  67. Hi there, Sorry if I posted this in the wrong forum, I'm fairly new to this website. As the title mentions, I'm a Canadian attending the University of Western Ontario (will be in the Richard Ivey School of Business HBA program starting 3rd year) ...

    4 comments16 Aug 2012 -

  68. Big4Bound: Accounting vs Finance & taking questions!

    Corporate Finance, Development and Strategy

    @"Big4Bound" did a 4-part series on Accounting vs Finance, check out Part 4- The Work, he's also answering questions if you have any accounting Big4Bound ...

    3 comments31 Jul 2014 -

  69. Why would depreciation and amortization expense reported for the current year be different than the change in accumulated depreciation and amortization from the most recent year and the year prior to that? The expense is greater than the change in accumul ...

    3 comments30 Oct 2013 -

  70. Need Advice on Achieving Goals

    Job Search Advice

    Hi all (TL;DR version at the bottom...apologies for the length), I'm about to pursue a masters of accounting degree because I was initially very interested in corporate work, but recently, I'm having a change of heart and need some advice on how ...

    3 comments20 Apr 2013 -

  71. So, we have a floating rate bond in our portfolio. This is issued at discount (98.5). The coupon payments of this bond is planned to be paid semi-annually. The coupon rate is tied to 6 months LIBOR + spread (2.75). ...

    3 comments19 Mar 2012 -

  72. Net Income- foolish Q

    Investment Banking

    P/E and EPS use net income, which takes into account the capital structuer of a company, but why is the net income considered to be value that equity holders receive? Is net income what dividends are based on? How does it exclude debt? Since it includes i ...

    3 comments15 Oct 2011 -

  73. wheninfinance's blog------------------------------------------------------------------------------------------------------- When someone tells me they're an accountant We got featured on Business Insider! http://www.businessinsider.com/the-creat ...

    2 comments8 May 2012 -

  74. Both were right. Thanks for the help accounting ...

    2 comments8 Jan 2016 -

  75. I plan on doing a MACC program next year, and I was wondering if full time/part time status would effect my ability to get a big four position? I'm currently in a retail role for a finance company, and I would like to keep my job throughout school. B ...

    2 comments2 Jul 2014 -

  76. I'm interning with a big 4 firm and tomorrow is my first day. For attire it says that business casual is appropriate, but I can't decide on whether to go business casual or to go with a suit. I don't want to be "that guy" wearing ...

    2 comments8 Jun 2014 -

  77. PWM to CFO?

    Job Search Advice

    Hi WSO, Here is my situation: I'm a 2013 grad from a non target, economics major, work in BB PWM, 3.2 gpa, great EC's. Ultimately I want to be a CFO because it allows me to: 1. work with companies 2. Help build something from the start to finish ...

    2 comments17 May 2014 -

  78. First of all, I did not go to a target school. My undergraduate degree is in Accounting from a local well recognized public university. I graduated in 2012 and at the time did not want to pursue a career in Public Accounting (which I sometimes regret). Bu ...

    2 comments20 Apr 2014 -

  79. Hi guys, I'm in bit of a tough time in my life right now. Currently, I'm a 1L in law school and to say that I'm having a difficult time would be an understatement. Since I committed to this school, it has dropped drastically in the rankings ...

    2 comments14 Mar 2014 -

  80. Greetings from Accounting!

    New User Introductions

    Hey all, Stuckinaccounting123 here, I'm a tax intern at a Big 4 firm. I'm looking to break into MBB, or quite possibly IB. For now, I want to stick to MBB. I don't attend a target school, but I do have a strong GPA (3.8). I'm here for ...

    2 comments11 Mar 2014 -

  81. As many of you probably already know, Linn Energy's stock (NASDAQ:LINE) took an 18% dive yesterday as they reported that they were being examined by the SEC for accounting irregularities. I understand the Cliff Notes version / basic overview on why t ...

    2 comments3 Jul 2013 -

  82. So long story short I did really shitty in highschool, and have been trying to make up for it. Going to transfer from CC with a 3.6 to a small nj college(Ramapo). If I finish up with a high gpa what are the chances of getting into a good masters program f ...

    2 comments14 Apr 2012 -

  83. All, Does anyone know the difference between EY Audit NY (Financial Services Office) and Deloitte audit (general) NY? I know for EY the clients all comprise of financial institutions. Is this good or would a broader client expsoure (Deloitte) be better? A ...

    2 comments16 Oct 2011 -

  84. Education Question

    Job Search Advice

    Hello, I am wondering if it is worth it for me to continue my undergrad studies in accounting at The Ohio State University, or if transferring to a more prestigious school for undergrad will really make a huge difference when I apply for graduate school t ...

    2 comments13 Oct 2011 -

  85. (If you missed Part 1, you can find it here) So, what about the CFO of ZZZZ Best? In part one I wrote about the headlines that many may have seen in any business or auditing class teaching about famous stock frauds. But in this particular case, there is s ...

    1 comment16 Jun 2013 -

  86. Hi, everyone. I'm Antony, a junior college student, major in Accounting. Actually, I just came to the US few months ago. Thus I hope to know more about the working practices here, especially in the Accounting and Finance area. Through WSO, I want to ...

    4 Sep 2014 -

  87. Hey Everyone, ...

    1 comment22 Aug 2014 -

  88. I'm gonna try and make this quick so I don't bore anybody. Basically I just have a few questions about entering the IB world based on my current experience. I'll start off with a little bit about myself. My ultimate goal is to get into IB a ...

    1 comment11 Aug 2014 -

  89. While reading the Security Analysis by Ben Graham I was astonished by the stupidity of some accounting errors and intentional misguidance. At the same time while reading different financial reports for different companies in various industries it was very ...

    10 Jul 2014 -

  90. Apologies if this question has been asked before on the board, but I haven't been able to find an answer to it. If a company is to buy a tractor and pay for it with 50% debt and 50% equity, how would that affect the financial statements in year 1 (be ...

    1 comment4 Apr 2014 -

  91. Has anyone modeled out an Asset Retirement Obligation or a Royalty to Related Party liability in the context of a DCF? Any other considerations I should be aware of? A) Essentially, my copper tailings processing company has an obligation to remove equipme ...

    1 comment10 Feb 2013 -

  92. A friend of mine asked me to post some basic accounting notes I put together a while back- said it could be helpful for interviews. Mostly focuses on linking statements (not going to explain in depth why A+L=E) and how items flow through them. http://bank ...

    1 comment15 Jan 2013 -

  93. Becker and IBD parallels

    Investment Banking

    Hello, Is anybody on here studying/studied for technicals using Becker review course? And if so have you found any supplemental materials that parallels some of the topics discussed in the review course to the IBD interview questions? Thanks, G accounting ...

    16 Oct 2012 -

  94. I'm interviewing for a position that requires an Asset Management role and they're going to be asking me some real estate accounting Qs e.g. Depreciation, A/R. I haven't done accounting since I was in college three years ago and wondered if ...

    14 Oct 2012 -

  95. Dear Sir/Madam monkeys, I'm looking at this XYZ company's financial statements, and I have no idea what's going on with this cashflow statements I was trying to get the EBITDA numbers, and there was no amortizaion/depreciation under the ope ...

    1 comment18 Jun 2012 -

  96. So question here: Say that one interned at company X during college, worked for 3 yrs somewhere else, then sees current opening at that company he/she interned at and wants to go back. Is that a smart thing to do? Say that said person also kept in contact ...

    1 comment17 May 2012 -

  97. Career Paths

    Job Search Advice

    Im a 2nd year student and still am very uncertain as to where I want to work in the future. Another thing that constantly worries me is that I will be most likely entering a very unsettling job market and one that may render my education useless. I am cur ...

    1 comment23 Apr 2012 -

  98. Modeling Interest Expense

    Investment Banking

    How to do you reconcile the BS and CF statement for cash interest expense if different than the interest expense your recognize on the IS? i.e. 5% coupon bond that pays cash interest semi-annually. I know you'll add back the total interest expense fr ...

    1 comment26 Mar 2012 -

  99. What are the balance sheet mechanics for issuing debt and warrants both at the time of issuance and at when the warrants are exercised? Lets use for example $10m debt, 100% warrant coverage for a private company worth $50m at time of issuance and $100m at ...

    1 comment5 Dec 2011 -