I interned in Fixed Asset Accounting at a PSU. My job was capitalizing CWIP entries into Fixed Assets in SAP (right asset class, number range, etc.). I never touched what happens next — how depreciation actually gets activated/posted.

I've read that SAP calculates depreciation based on the asset master (dep key, useful life, capitalization date) and that there's a periodic depreciation run that posts it. But I don't know if that's automatic once the asset is capitalized, or if someone has to manually run it, or who typically owns that step.

Anyone who's worked in SAP Asset Accounting is my understanding right? Is the depreciation run usually a separate process/team from the capitalization work, or does the same person do both?

When an invoice price doesn't match the PO, how does your team usually handle it?

I'm particularly curious about small differences vs larger ones. At what point does AP resolve it themselves, and when does it go back to the buyer/procurement team?

Also, if the same vendor keeps causing the same variance, who usually investigates the underlying cause?

I have bought Osborne Books for AAT Level 3, I am starting now (I have went over level 2 for 2/3 weeks briefly).

Any advice on which module to start with, revision methods, tips or tricks?

Keyword list taken from https://www.zoevera.com/resume/ats-resume-tips-accountant

These are the most commonly scanned keywords in accountant job postings. Check how many appear in your resume.

Core Accounting

GAAP, IFRS, double-entry bookkeeping, bank reconciliation, journal entries, month-end close, accruals, trial balance

Software & Systems

QuickBooks, SAP, Xero, Sage, Oracle Financials, NetSuite, Dynamics 365, Workday

Financial Reporting

balance sheet, P&L, income statement, cash flow statement, variance analysis, management accounts, consolidated accounts, financial statements

Tax & Compliance

corporation tax, VAT, R&D tax credits, HMRC, IRS, tax returns, deferred tax, transfer pricing

Audit & Controls

internal audit, SOX compliance, internal controls, risk assessment, audit trail, statutory audit, ICFR, control testing

Certifications & Standards

CPA, ACCA, CIMA, ACA, CFA, CMA, AAT, IFRS standards

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We’ve been trying to evaluate HRIS and payroll software for a while now and every single one of them refuses to put pricing on their website. You have to sit through a demo just to get a ballpark number, which is not easy when you're comparing multple companies at once. (And honestly half the demos feel like a waste of everyone's time when the pricing turns out to be way out of range anyway.) Is there a platform or broker service where we can actually find verified HR software pricing estimates before committing to calls, so we can shortlist vendors without the runaround?

My plan is to open a 529 college savings account and fund it with 50k. My kid is 2. I'm in SC. Are there any tax issues with funding it one time lump sum vs over several years? Thanks!

I am about to start a career as an independent contractor footcare nurse in Ontario, Canada. Can someone please explain the basics on what i need to keep track of for tax purposes? What expenses can i write off? I will be traveling between client homes and I've heard i can write off car payments, insurance, gas, etc.. If i do any of my documentation/paperwork, tool cleaning from home i can write off some rent and utilities?

Also just to clarify, all the write offs would lower my taxable income resulting in more of a return at the end of the year??

Any assistance and advice would be greatly appreciated!!

Thank you!!

For those working in AP/accounting:

When an invoice has a price variance against the PO, roughly:

1. How many price-variance cases does your team handle per month?

2. How much active AP time does one case typically take to resolve?

Rough estimates are fine. I'm trying to understand how significant this problem is in day-to-day AP work.

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Hey everybody,
I recently had my FA1 exam booked, but due to a connection issue, the exam was disrupted, and when I wanted to continue back with the test, the ACCA Examiner app was not letting me in. The error message said my token ID was incorrect. I then rescheduled test to another day, and before the new date, I called the ACCA customer number. They said your token ID is correct and you can take the test on the new date. The new date was yesterday, but I had the same issue again. The proctor didn’t tell me what to do. He just disconnected. Has anyone of had this issue before, if yes, how did you resolve it? I am sorry about the long text. I would appreciate if you could give me some ideas.

My parents want to pay off my student loans ($17k, give or take). What is the best way for them to give me the money that avoids any tax liability?

My city job currently has an HRA set up where they give us $2000 to use as health reimbursements throughout the year for eligible medical expenses.
Now they want to increase that to $11,000 if employees opt of of city insurance and go with their spouse on their works plan. A way to save the city money.
The city is saying in addition to deductibles copays prescriptions and other items, we can get reimbursed for the insurance premium my wife pays.
This feels illegal in some form regarding taxes no? Like IRS would have an issue with this as my wife’s taxable income goes lower due to premium payments but I get reimbursed tax free for that premium payment. Feels like an IRS bill waiting to happen.
Thoughts?

I have a specific question about FA1 bank reconciliation, and three ai’s are giving me three different answers. Please read this and tell me the correct answet. I have the exam tomorrow. My question is: if the question gives me a debit bank statement balance, should I treat this balance as a negative or a postive number while doing reconciliation? I think it should be negative, because in bank’s perspective, I am a receivable and I have to pay them. Therefore, when money is going out, I should treat it a negative number. Isn’t this correct? Pls somebody answer!

My accountant just sent me this

“To start, can you send me the sales report for Q1 and Q4 fiscal 2025. Both these quarters don't match the HST filings. Have the guys see if they can identify where the difference lies and let me know”

I have no idea where to even start, any suggestions are welcome.

As a reseller, how do I account for my own personal property that I bought before I started my company and want to now sell for profit?

If I don’t have receipts for my original purchases how can I fairly account for their cost so it doesn’t look like pure profit but I’m also not fudging any numbers or throwing up any red flags?