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Internal Audit at BB vs Big 4
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? Most banks aim their recruiting for those trying to...
NI & NI on CF don't match?
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 the CF. On the CF given me, the net income from each...
Becker and IBD parallels
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
Interview- Real Estate Accounting Help
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 anyone could suggest a site or a link to download free real...
Help me make an important career decision!
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 accounting and finance. I am heavily involved in...
Big 4 M&A Tax Over IB
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 years. I'm not really sure if working in IB would...
Please critique my resume. Been working on this alone.
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 would like to be a CMA in the future. Thank you all...
CIMA
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..
Why tax
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 direction" but the point is that I am not sure why I did it....
JD to MSA
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 appreciated.
Switch from Accounting to 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 (3) Clubs: Active Member in Beta Alpha Psi, ASCEND and...
Why are footnotes so important?
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 obvious.
Now taking Financial Accounting
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.
Business Career Options as a Canadian
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) As of now, I have been looking into becoming a...
Accounting question - calculating gross PP&E
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 % of last year's net PP&E : 20% Original cost of sales % of...
Big Four TS/TAS and Major?
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 shot at this or would it limit me to tax/audit...
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Big 4 Accounting Full Time Interview
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 job in the Fall at a top 25 accounting school (NIU) so...
Accounting vs. Financial Statement Analysis
Hey guys, what's the difference between a course that focuses on "financial accounting" and "financial statement analysis"?
Graduate Early as Accounting Major or Graduate One Semester Later with Acc/Finance Double Major?
I am currently an honors business student at UNLV (University of Nevada -- Las Vegas), and I cannot decide between these two options: 1. Graduate one semester early with a bachelor in accounting. 2. Graduate one semester late, but with a double major in accounting and finance. Is the extra year of...
Unusual Financial Statement
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 operating activity of the statement of cashflow. Instead it has...
Returning to company you interned at?
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 with the contacts over there. All...
accounting help! will give SB to fellow monkeys!!!!
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
Alternative transcript. I need a strategy.
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 more I look into it the more I realize that...
When Accountants complain about the number of hours they work during “busy season”
------------------------------------------------------------------------------------------------------- When someone tells me they’re an accountant We got featured on Business Insider! http://www.businessinsider.com/the-creators-of-the-hilarious-wheninfina… And of course thank you WSO for the...
Societe Generale Summer Internship?
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 it. I was told that the intern they had last...
Accounting at the Big 4 with no accounting degree
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 administration. I plan on dropping the accounting...
Career Paths
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 currently studying economics and accounting and...
Accounting undergrad, masters in finance?
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 for finance?(not t10 just a program worth...
Where you go to school matter? (Accounting and Big 4)
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, the recruiting last year for the big 4 came from...
Modeling Interest Expense
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 from the IS on the CF statement. Then you will...
The perception of these b-schools to employers, job prospects, and college decisions
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 and accounting coming out of these schools. And I...
Accounting: Floating Rate Bond
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).
BB Operations vs Big 4 Accounting
In my eyes, they're both pretty boring, but I wanna look at backups.. What in your opinion wins out in each of: 1. Starting salary (including bonus) 2. Long term wage growth (my guess would be accounting but I dont know much) 3. Competitiveness to get in (with 3.5 GPA) 4. Exit opportunities to less...
Why does combined EV increase?
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 in a higher combined EV than simply adding...
Question for the accountants here
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 parking lot forever. The other day I came across a...
Apple buys $100 of new factories with debt. How are statements affected at start of year 1?
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 and therefore it should be -100 under cash...
"Walk me through an equity or debt $100 "bailout" of a company and how it affects the three statements?
I dont really get why nothing happens to the income statement.
Why aren't preference shares included in market cap calculations?
And as a result you need to add them back in to get EV ..?
Balance Sheet Mechanics of Issuing Debt and Warrants
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 exercise a few years later.
Goldman, Lizard, Morgan Stanley
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 developed? Can I move into a front office role...
how does the net income carry through the basic accounting statements
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Ernst & Young audit vs. Deloitte audit
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? Any differences in office culture? Would...
Net Income - foolish Q
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 interest payments...which must include paying...
Education Question
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 to get an MBA . My ultimate goal here is to...
Extremely Tough Accounting Questions
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. But I know harder questions can be conceived. Anyone have any...
Need some counselling for the future*
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 the investment Club (will be an exec or...
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