Things you just don't get

[venividivicibj]

What's the point of accounting firms again?

 

[Texasmade]

What's the point of accounting firms again?

To make money.
Keep
Partners’
Money
Growing

 

[SixOhNine]

If I had known accounting didn't require math, I might've given it more consideration as a profession.

 

[beargonefishing]

If I had known accounting didn't require math, I might've given it more consideration as a profession.

Lol you would still be am unemployed hobo living under a bridge no matter what profession you picked.

 

[jbarwick]

I continue to assert I am a "recovering" accountant but here is likely how the whole mess happened. This person asked a question quite a few years back that required a journal entry. Through a bunch of confusing emails, they understood the email reply as having to do a specific thing for a specific reason. Now, accountants are notorious for being lazy and not asking questions unless prompted so this person continued to make the same JE, every month, for multiple years, until this ultimately hit a number.

I worked with a guy at a company that had $1B+ in revenue and every month he would make a JE for an Admin that improperly classified something on a T&E report of <$100. It would be classifying everything as food even though it include flowers or something similar, so he would make that JE. After he retired and I took over his duties, I stopped doing a lot of meaningless tasks he had that added up to his always over 40hrs per week of working...

 

[HRoi]

I’m proud to say that I made it through high school accounting, undergrad accounting, and an MBA in finance without ever getting a balance sheet to balance

 

[Texasmade]

I continue to assert I am a "recovering" accountant but here is likely how the whole mess happened. This person asked a question quite a few years back that required a journal entry. Through a bunch of confusing emails, they understood the email reply as having to do a specific thing for a specific reason. Now, accountants are notorious for being lazy and not asking questions unless prompted so this person continued to make the same JE, every month, for multiple years, until this ultimately hit a number.

I worked with a guy at a company that had $1B+ in revenue and every month he would make a JE for an Admin that improperly classified something on a T&E report of <$100. It would be classifying everything as food even though it include flowers or something similar, so he would make that JE. After he retired and I took over his duties, I stopped doing a lot of meaningless tasks he had that added up to his always over 40hrs per week of working...

The person probably setup a recurring JE in the system to post every month a small immaterial amount. Boss approves the JE request. Budget season rolls around and that small immaterial amount is baked into budget so the person continues posting it. After several years that small amount builds up on the balance sheet and becomes $150M which is enough for people to start asking questions on wtf the balance is.

Not like my company never did this...

 

[SixOhNine]

It's like compound lack of interest.

 

[venividivicibj]

What in the world

Alabama A&M now says LB Burnett still alive

Alabama A&M linebacker Medrick Burnett Jr. remains hospitalized with a head injury suffered in October, the school said hours after announcing that he had died.

www.espn.com

 

[Numbernine]

The person probably setup a recurring JE in the system to post every month a small immaterial amount. Boss approves the JE request. Budget season rolls around and that small immaterial amount is baked into budget so the person continues posting it. After several years that small amount builds up on the balance sheet and becomes $150M which is enough for people to start asking questions on wtf the balance is.

Not like my company never did this...

I'm really glad I got fvckin' idea what you geeks are going on about

 

[Michigan Planner]

I continue to assert I am a "recovering" accountant but here is likely how the whole mess happened. This person asked a question quite a few years back that required a journal entry. Through a bunch of confusing emails, they understood the email reply as having to do a specific thing for a specific reason. Now, accountants are notorious for being lazy and not asking questions unless prompted so this person continued to make the same JE, every month, for multiple years, until this ultimately hit a number.

I worked with a guy at a company that had $1B+ in revenue and every month he would make a JE for an Admin that improperly classified something on a T&E report of <$100. It would be classifying everything as food even though it include flowers or something similar, so he would make that JE. After he retired and I took over his duties, I stopped doing a lot of meaningless tasks he had that added up to his always over 40hrs per week of working...

The person probably setup a recurring JE in the system to post every month a small immaterial amount. Boss approves the JE request. Budget season rolls around and that small immaterial amount is baked into budget so the person continues posting it. After several years that small amount builds up on the balance sheet and becomes $150M which is enough for people to start asking questions on wtf the balance is.

Not like my company never did this...

My wife is a former CPA and worked in audit for a few years after spending about 15 years in treasury management and then as a controller at a local utility. My FIL was a CPA and a partner at Uncle Ernie years and years ago and then went on to be a CFO at a chemicals company.

The exciting topic of the Macy's f*ck-up came up at at our Thanksgiving dinner table and, from what I gathered before my eyes glazed over and I shuffled off to the couch for a football and tryptophan-induced post-meal nap, they both came to a similar conclusion as you two did.

I'm really glad I got fvckin' idea what you geeks are going on about

You and me both.

 

[brokencycle]

Having worked with accounting and finance for years, I still have no idea what accountants do or why they need an army of them. At least I know what finance does - take inputs from everyone else and put them into a spreadsheet that someone else needs to turn into slides. But controllers? Treasury? Sound like made up jobs.

 

[Texasmade]

Having worked with accounting and finance for years, I still have no idea what accountants do or why they need an army of them. At least I know what finance does - take inputs from everyone else and put them into a spreadsheet that someone else needs to turn into slides. But controllers? Treasury? Sound like made up jobs.

Treasury- manage cash
Controlling/accounting- measures past decisions made by finance
Finance- shapes future decisions

 

[otc]

I just want to know how many people it is going to take to approve and pay the single $1.77 expense that I submitted today.

Bets on how many multiples of the cost it takes to get me reimbursed?

 

[Numbernine]

I'm hoping thats a joke