UPDATE, 10:37 am: A BDO spokesperson got back to us and everything seems to be fine over at 41st and Park with no evacuated BDOers. Our bad. Still probably a case of the Mondays regardless.
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Mentors are Your Friends…Right?
The WSJ has a little Q&A about how to handle the sitch of a not so great mentor. Since mentor/mentee (use whatever internal buzzword that applies) relationships seem to be ubiquitous in accounting firms we thought that this may be of some interest to you.
More, after the jump
We, personally, cannot fathom an instance where any of you would go out and find yourself a mentor that you wouldn’t burn the town with but maybe you don’t get to make that choice. Or, maybe, since accountants seem to be gluttons for punishment, you picked a mentor that you thought would help your career and it turned out to be a HUGE MISTAKE.
If you’re not choosing your own mentors then it’s an absolute certainty that there have been scores of awkward and borderline inappropriate encounters experienced by you.
Or maybe we’re dead wrong and mentoring just involves spending exorbitant amounts of your firm’s money on U2 tickets and bottle service. Either way, discuss your awesome exploits with your mentors or your complete nightmare, creep-out sessions.
Ready to Do the Unthinkable and Work for Less Money?
With all the blood being spilled in the past year, you don’t have to be a math wizard to know that: Fewer People + Same Workload = People Working Like Dogs
It has gotten to the point that many of these people that are doing more work, for the same amount of money are ready to move on for, GASP, less money.
More, after the jump
Rick Telberg, at CPA Trendlines quotes a recent survey they did that says that nearly half of the people polled so far were ready to move on to a different job, ‘even if it meant a paycut’. No surprise really since doing the work of two or three people loses its luster pretty much instantly, especially when it becomes the expectation.
He also mentions that regardless of this emerging trend of people willing to turn down big (or mediocre) bucks to get their lives back, the enrollment on campus in accounting programs is at record levels.
So after giving it very little thought we came up with the following approximate timeline: Everyone in college thinks accounting is sexy; It takes 1-2 years to find out that it’s not; 3-6 years to actually get out (one way or another); Then, well, WTFK? Become a hack blogger?
Recession Adds to Workloads, Stress; Sends CPAs Looking for New Jobs [Rick Telberg/CPA Trendlines]
SEC Rule Would Crack Down on Celebrity Board Members
Now that the SEC has got this Ponzi thing under control, it can focus on more important matters like getting famous people off companies’ board of directors because, you know, they don’t really know shit about the companies they serve.
Perfect example: Tommy Franks, former commander of forces in Iraq, who resigned his seat on Bank of America’s board last week, was on the audit committee. The AUDIT COMMITTEE.
That’s actually not even the best example. According to Bloomberg, everyone’s favorite acquitted killer, O.J. Simpson was on the audit committee of Infinity Broadcasting Corporation before he was charged with murder in 1994. O.J. Simpson. Audit committee. Yes.
We could go on to tell you about Lance Armstrong missing 11 board meetings but still getting paid over $70,000 by Morgans Hotel Group or Gerald Ford sitting on the Board of Traveler’s Insurance (owned by Citi) until he was 85 years old but you get the picture.
This is your SEC, citizens of America, getting their shit together since 1934.
Armstrong, ‘Celebrity’ Directors Targeted in SEC Rule [Bloomberg]