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Monday, August 22, 2011

Endless Cycle

As I sat at my desk today, reading through a packet of information on GASB 54 (a new requirement for reporting in governments), I came to a fateful realization. I will never master this craft.  It won’t matter if I spend my entire life studying everything accounting, or I do as much hands on work as possible.  It’s not because I have a horrible work ethic, or that I’m a moron (that could be debatable). It’s because whenever I will master one thing, the AICPA, GASB, and other boards will re-write the rules, and I will have to learn everything all over again. This, my fellow accountants, is what we are:

Now I know other professions have to struggle with the same thing. But at least with doctors, usually the changes enhance patient’s quality of life. What improvements does GASB 54 really make, and who reaps the benefit. It’s certainly not the practitioners, and it’s not our clients either. I guess Reuters is benefitting, as we all have get updated reference material. Don’t get me wrong, I understand improving accountability and oversight, as was the case with Sarbanes Oxley, but some of the GASB pronouncements are so silly that I have to wonder just how disconnected the people creating these pronouncements are.  I imagine a GASB meeting going something like this.

Oh well, at least I’m employed, right?

Friday, July 29, 2011

The Joys of a Small Firm: The Clients

Status: Fluff

There are definitely advantages and disadvantages to working in a small firm. Though the majority of our audit clients are very, very nice (advantage), they are also generally very, very, small (disadvantage). Many of these small clients are located out in the boondocks. Take for example the audit I was on this week. Our client’s location had no restaurant, at all. The only food source available was from a gas station mini-mart, which was at least 2 – 3 hours old. Not exactly the most appealing fare. Now that I think about it, I was sick on Wednesday. Hmm, I think I’ll bring my own lunch next time.

Ode to a 1040

Status: Fluff

What can I say to thee,
My most common friend
We have been together
From start, to the end

The dawn of the new year
My heart, it is glad
The 15th of april
My soul, it is sad

For nine painful long months
Your absence I miss
Longing for your return
Like a passionate kiss

For the three joyful months
Your presence abounds
I get lifted so high
I can’t touch the ground

Your lines, symetrical
You always make sense
The good news, or the bad
Your logic, it fits

I am not a fool
Just a lover of you
And I hope beyond hope
That you love me too

Wednesday, July 20, 2011

Reflections on the CPA exam: REG Round 1


Status: Fire

After my success on BEC, I was pumped to start studying for this one. There was, however, a slight problem. I was behind by three weeks thanks to Becker not sending me my material on time. After I took BEC, I only had three weeks left to study for REG before the six month window came to a close. I thought about just canceling the test and eating the loss, but I figured it would be worth it to at least take it and find out what my strengths would be. Luckily my motivation was still pretty high, and I started putting in as much study time as possible. I honestly don’t remember a lot about these three weeks. It felt like I was in the middle of a tornado, as illustrated below:

Adding to this was the fact that my first tax season was starting, and there was a lot more going on at work. Before I knew it, the test day had arrived. I did manage to get through all the material, but didn’t have any time to review any of it at the end. As I walked into the testing, I felt that I needed at least one more week. The test was actually a bit easier than I thought it would be, but as I finished up I just had a gut feeling that I didn’t quite make it on this one.

The result: a 70. I was a bit angry about this one, mainly because I knew I could have passed this one with a little bit more time. For a while I just stared at the 70. It’s like it was mocking me, just laughing in my face.  We’d see who would have the last laugh on this one . . .

Monday, July 18, 2011

The Professional Pyramid

Status: Fluff

So let be begin by stating that I’m proud of where I’m at. I worked my way through college, got my degree, and obtained my CPA license. I have nothing to be ashamed of. That being said, why do I feel so inferior when I go to a doctor’s office? Part of it is because many doctors try to make you feel inferior, but they also have to go through much more than other professionals.  Still, does that give them the right to act like my profession is silly after I tell them what I do? And it’s not like I just start boasting, it’s just an answer to the question they ask.  I have noticed that I do the same thing to other professionals.  I have come to the conclusion that there is a professional pyramid, with top level looking down on those beneath them.  I would say it goes a little bit like this:

You’ll notice that Doctors take the top spot, with dentists close behind (I know, they’re both technically doctors, but I just didn’t feel comfortable grouping them together. Do you really respect a dentist as much as an MD?) Next on the list are lawyers, and after that is my dear profession, Accounting. Like I said earlier, I am as guilty as doctors when dealing with realtors, salespeople, and marketing agents. It doesn’t even matter if they make way more than me. Deep down I just believe that their professions just aren’t as credible.  And guess that’s how doctors and lawyers feel about me. “Sigh” oh well; at least I’m not a marketing agent.