Screwing up Accounting BAD!!! - Page 2

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  • #193009
    Dog pounder1977
    Participant

    I have just started my first entry level accounting position full time last week and today was day 6. I have to say that I am truly second guessing whether this field is for me. For instance, I worked part time for the past 3 months and the accounting manager had me doing small work such as B/S, reconciliations, payroll. etc. And I thought to myself “hey this is easy!” But now that I am full time, the more difficult work is coming in and it is just NOT clicking in my brain AT ALL how to do the work! One thing that confuses me the most is that I am trying to apply my knowledge from school with everything I do but the way they do accounting contradicts what I learned in college!

    Even the language is different! The accounting manager will say to me “blah blah blah… check this INVOICE” And in my brain I am thinking OK accounts payable, but NO she is referring to an Account Receivable? Another example, in school we are taught when a business has warranties, they Dr. the warranty expense and Cr. the estimated warranty payable account to write off the expense for the year. Then when it is time to pay the warranty, Dr. the estimated payable and Cr. the Cash account. Easy day! At work? Not so easy!

    The way they do it is pay the warranty through the manufacturer as a third party.For instance, a customer needs work done that is covered under warranty. We create Cr. the account payable for PARTS and order them from the manufacturer. Then when the manufacturer decides to pay the warranty, they send us a credit memo for our accounts payable (parts) and then we create an account receivable (or “invoice” I should say) for that credit memo. Just completely ignores everything else about warranty expense, warranty payable, and everything taught in college. That was just an easy example, it gets even more confusing when the manufacturer decides NOT to pay at ALL! I am seriously thinking about quitting and just going to school full time for my MAcc and getting my CPA because I am already getting stressed out and I haven’t even been there 2 weeks full time.

    I work at a dealership by the way. Has anyone else felt like this before? I read one post by a guy who accepted a job as a Cost Accountant and his experience is very similar to mine. All I want to do as an accountant is review and prepare financial statements, conduct audits, give consultations using ratios, etc. Basically do ACTUAL accountant things we are taught in school. Do I need to work at a firm or something to experience this kind of work?

    One day I will face that exam.

Viewing 16 replies (of 16 total)
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  • #660517
    Dog pounder1977
    Participant

    @mla11692- That is understandable but I have already been with the company for 4 months now. I have only started full time last week whereas I was part time working from 3pm-6pm M-F while still on active duty for the navy. I came up with a master plan today to end my suffering. Once I receive approval that my TSI clearance gets approved to fly drones in the Air Guard, I will schedule a date to go to the 7 month training in TX the end of this year. My employer said I will still have the job when I get done with training as they understand since other employees are in the guard too.

    Plus they cannot fire me for doing so by law otherwise I have the grounds to sue them. Anyway, the entire 7 months I am at training I will be working on my MAcc at a local college in addition to job hunting. Right before my training ends I will inform my employer I will not be returning and count that entire time I was away from the job as additional time working with company on my resume to get a total of 2 yrs experience which is what most people require 🙂 Nonetheless, thanks for your feedback.

    @ AICPAs Beach- I am the type of person whose priorities are grounded upon job satisfaction in addition to providing for my son. I truly believe if you are not happy doing something, then you should definitely create opportunities for yourself that will enable you to experience that joy. Life is too short to be stressing and being miserable and I have done enough of that dealing with the military for 4 yrs and now that I have my freedom back not bound by a contract, there is no need for me to remain miserable at this job. However, I appreciate your feedback.

    @emparkhurst- Thanks for your feedback. I have devised a master plan to get me out of this situation. I will continue here for the remainder of the year until it is time for me to go to Air Guard training just to gain more ‘experience' to put on my resume…..and I stress the word experience.

    One day I will face that exam.

Viewing 16 replies (of 16 total)
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