Accounting #1 - Introduction

[black_samvara]

artiodactyl: having an even number of toes on each foot. Not related, but interesting to me nonetheless.

**Acronyms summarised at the end.

The introduction was very comforting, I have been trying to have no expectations because most of the (many) CPAs I have worked with haven't had much personality overlap. I was concerned this would be a really

Comments

[zebra363]

::pets profession fondly::

I read in a CPA magazine that 75% of accountants are Myers-Briggs ISTJs or ESTJs. We are a fairly homogenous lot.

I'm really interested in your write-ups. It's fun to see what they highlight as the important things!

My main area of expertise is financial reporting, though I do management reporting and corporate tax as well.

[black_samvara]

*beams* I look forward to your perspective :)

I think this was the talk where they try to lure us into being interested! I'm interested!

I'm enjoying it and the text looks interesting - although it has photos of 'sad' people in it that I'm told are supposed to be 'thoughtful' faces.

[zebra363]

Also, this is very true:

Reporting can put a heavy burden on a company, changes to reporting standards even more so.

and it's good to see it get a mention! Many of the accounting standards are extremely complex. I've spent most of the last three workdays going back and forth with our Finnish operation on how they've calculated a depreciation adjustment that's required under Finnish law but absolutely prohibited under International Accounting Standards - what a complete waste of everybody's time!

(However, the complexity is kind of good for me as dealing with it is how I make a lot of my living!)

[black_samvara]

I'm so with you on this one, when Buy Local reporting for State Govt got introduced it took so much work to get the first reports out. We had to pry info out of the finance system that we'd not used before.

We talked a bit about standards and lobbying and who puts pressure on and why - not enough for me to feel like I know much, but enough to get a sense of the many interest groups :)

[black_samvara]

and yes! Different countries - gawd, our lecturer said Aussies can submit stuff that complies with IASB in the US and that we don't have to do the whole thing again under US GAAP which was 'phew' - so much work!