r/AccountantsEire

As the title suggests, I have been offered both an accounting and tax training contract for different firms. Any advice on which one I should do?

Hey everyone.
I have an accounting degree and will be starting soon as an audit trainee. I’ve never done anything related to audit or accounting in my past jobs.
I don’t want to be clueless in my first few months. Please advice on what I should study or any skills I should get before starting?
I’d really appreciate.

So by the title, you can probably tell where this is possibly going. I hate my job. I currently work in audit in big4, and have just completed my cap2 exams, well, bar having to repeat tax in September. Before study leave was some of the worst times mentally since I started with how much pressure myself and my year group were under to get stuff done before we went off. I debated whether I wanted to even try for the exams and just fuck them all once study leave started. I kind of copped myself on and said to myself it’s just because study leave and we needed to get our work done and that it wouldn’t be like that when I got back, how I was wrong. On opening my CAP2 results, I actually had a slight sense of relief knowing that if things get bad again, I could just fail the repeat exam and get out of my contract, which is shit because it’s derailing my own career but it’s just how bad it’s been. Our department is severely understaffed, with FAE students still off as they need to use their leave, and seniors who all left once their contracts ended earlier this year, young associates are getting used and abused. Completing audit work that in previous years had been done by a senior associate 1 or 2 and just being expected to know how to do them as managers are too busy with all their reviewing they’ve left months late to help coach and we have little senior staff due to reasons I have mentioned. I feel like there’s no managers I can’t reach out to that won’t see this as me not being a team player or just whinging that they have to do overtime. I just hate it. Even worse is I’m writing this because I can’t sleep because I’m just thinking about work tomorrow and the stress it’s already giving me.. I never used to be so anxious waking up. I don’t know if I’m looking for advice or motivation to try stick through but I guess either is appreciated. I’m just scared because busy season hasn’t even begun.

Hey guys,
As title says well and truly believe i failed both, and look i know might do better then you think but didn’t get 3 indicators fully answered in core only a few lines and audit was no where near the standard that is required to pass

Has anyone here failed both and done the repeats? How did work take it and your peers (in big 4)

Really debating throwing in the towel, really tried to study as hard as possible and just didn’t work out

Feeling really deflated

Cheers

Hi guys, although I was very reluctant to do so, I recently set up a Chuffed account for a young friend in Gaza.

My friend made it clear that the donations should be sent to him in USD. I set up the Stripe account to receive the Euro donations and transfer them to USD, not realising that this was not necessary as I could transfer the money from Euro to USD easily by PayPal when wiring to him. I am now having issues receiving the money to my account as there is a minimum amount of 250 USD that has to be transferred at one time and right now the fundraiser is only at around 140 USD.

Obviously he needs the money urgently so I transferred it to him from my personal account until I receive the donation money. I think I need to set up a new Stripe account in Euro and link it to the Chuffed fundraiser to avoid this issue.

Can anyone with experience please advise me on anything I should be aware of with tax and keeping track of transactions? Are screenshots of lump sums enough of a record? I would really appreciate any help or advice, I have zero experience or know-how in this area, hence why I was so reluctant to set one up in the first place. Thank you and Free Palestine <3

Do all the marks get bumped up if everyone did badly?

I’ve heard across the board that alotttt found the exam brutal. Do they have to pass a certain % of people?

Hi guys, I just got my annual review and my manager said I did well but I only got a salary increase of €1,250. I just finished my second year of training contract and feel disheartened.

Is it likely that I did not do well or is this common among the BIG 4's this year?

Hey all,

If you were me and you knew you failed the elective (and core didnt go as well as one had planned) would you start studying for the elective now? Or would you wait to results anyway?

I know I’ll have September October November December and 1 week January but just want thoughts.

Thanks

How did you guys find it?

Definitely a lot more manageable then Tuesday but still got confused on some points

Hopefully enough to scrape a pass but wouldn’t know answers weren’t of the best quality

Hi everyone,
I’ve recently completed my second year of my trainee contract and I’m considering switching jobs, but I’m not sure whether this is the right time to make the move.

When I started my contract, we were told that if we moved firms, our training experience wouldn’t necessarily be transferred, so I’ve been a bit hesitant about leaving before completing the full contract.

I’m currently working in audit and studying towards the ACA. I’ll be sitting my CAP2 resits in September, but I’m honestly not sure whether I’ll pass all of the exams this time. As far as I’m aware, nobody in my current firm has been dismissed for failing the resits, so I’m not particularly worried about losing my job because of the exams.

However, I’m increasingly feeling like I’d really like a change. I’ve been in audit for two years now, and I’m also being paid close to minimum wage, which makes me question whether staying is worth it, especially given the workload and the fact that I’m progressing through my professional qualification.
Would it be a bad time to move jobs given that I’m partway through my ACA and have CAP2 resits coming up? Or would it make more sense to start looking now, even if it means potentially changing my training arrangement?

I’d particularly appreciate advice from anyone who has switched firms after 2 years of their ACA contract, or moved from audit into an accounting/industry role before qualifying.
Thanks!

Hi All,

I’m an ACA coming from audit interviewing for the position of senior associate in the transaction services department of KPMG in Dublin, Ireland.

I’ve been told the interview will consist of a case study (which I get to read for 30 mins) and then 2 interviews. I believe the first interview is for discussing the case study etc and the I presume the second one will be a standard interview, competencies, technicals etc.

Could anyone give me advise as to how to prepare for this interview? I’m really unsure as to what the case study will entail and how I should approach it.

I’d also appreciate if anyone could provide the interview questions they were asked for this position in their interview.

Any advice is much appreciated as there doesn’t seem to be much information online surrounding this topic.

I really want to make sure I smash this interview.

Feel free to DM if you prefer or comment below if you can help at all.

Thanks in advance!

Survey emailed out.

Please blast indicator four for reference of a model that was very unclear based on competency statement and the fact that we were told we wouldn’t be specially asked to use a model that wasn’t named on the competency statement.

How did everyone do? I feel like if I pass it'll be a miracle.

I spent too much time on the first half of the third indicator, didn't manage to get the cash flows projection - wasn't sure what the answer was.

What models did people use for DAAIET? I used Mcfarlans and Value Chain for the other - Think those were both wrong.

I've rebuilt the exam below just for ease of Reference

Indicator 1 - Various FR

Indicator 2 - SML project appraisal

Indicator 3 - Borrowing costs / Cash flows

Indicator 4 - Strategic Review of IMS

Indicator 5 - IMS transformation

Indicator 6 - Crypto Framework

Indicator 7 - Ethics

Indicator 8 - Corporate Governance

How did everyone find that ?

I breezed through the first sim, found it straight forward.

Second sim fucked me, did not give enough attention to CGT and CAT, fairly certain I picked the wrong reliefs...

Hope you all got on well in the FAEs this week.

Good luck tomorrow everybody. Weeks almost over!

Sadly I think it will be 2 resits for me! All time to core very little to elective and now it’s came to bite me on the ass but hey at least I know for January!

Have a good sleep everyone! And best of luck tomorrow!

P.s anyone who passed tax have you ever got a copy of your paper and surprised you scored soo high? Seen someone say that about core wondering if anyone had the same about tax lol.

How did everyone get on and find that paper?

Thought it was one of the tougher ones with SIM 1 repeating the same points and not giving us too much to work with.

I found SIM 2 better but the last indicator destroyed me.

What’s everyone doing today for advisory? Any areas we should be focusing on ?

Well lads, howd everyone find that? Thought it was piss easy finished, cant believe I’ve stressed over that, anyone else find it bizarre that the faes were easier than cap 1s,2s?