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December 7, 2022

Accounting News Roundup: You Work Fewer Hours Than You Think; Grant Thornton’s New Bangalore Tax Hub; PwC Dumps Annie’s | 06.04.14

The Truth About How Much Workaholics Actually Work [FC]
That is, less than they think: "People who get paid by the hour know how many hours they work. People who inhabit the world of exempt jobs have a much more tenuous grasp on this concept but, as a general rule, the higher the number of work hours reported, the more likely the person is to be overestimating."

Whether or not to get an MBA depends on the kind of person you are [Quartz]
The author suggests answering these questions to get started: "Do you want to make a good salary, or are you willing to live on ramen noodles and stock options? Like the feel of a crisp laundered shirt, or only take your suit out for weddings and funerals? Do you value a benefits package more than the ability to work from Bali for a week?"

Grant Thornton makes Bangalore tax hub, to hire 3k [TOI]
Stephen Chipman explains the potential: " 'My individual tax return is done by Indians in Bangalore who are experts in US tax,' said Stephen M Chipman, CEO, Grant Thornton, an indication of how the country's IT capital could potentially emerge as global tax processing hub."

Annie's: PwC to resign as accounting firm [AP, 8-K]
Sounds like Annie's could use a few good accounting men and women (and a new auditor, obv): "PricewaterhouseCoopers LLP found 'an insufficient complement of finance and accounting resources,' the company said in a filing with the Securities and Exchange Commission."

Working in Management: The Other Accounting Profession [AWEB]
Jeffrey Thomson, CEO of the IMA, explains: "
For a job in a company doing accounting and finance work, the difference versus working for a CPA firm is basically the difference between financial and managerial accounting. Financial accounting consists of audit, compliance and financial reporting—essentially a look-back at what we call value preservation. You look back, record what's occurred and analyze that. Managerial is a complementary part of accounting—value creation, forward-looking, analytics and judgment, financial planning analysis, merger and acquisition activity, data and financial analysis, forecasts, and risk management." 

Pairing Up With a Younger Mentor [WSJ]
Reverse mentoring is all the rage: "There is a growing digital divide in workplaces—between twentysomethings with social-media savvy and tech-impaired older managers. To address it, more companies are trying reverse mentoring, pairing young employees with older colleagues to work on tech skills. The practice 'is up quite a bit in the last three or four years,' says Didier Bonnet, a global practice leader in London for Capgemini Consulting. 'The main aim is to raise the digital IQ of business leaders in the firms.' "

50 Cent accepting bitcoin for new record [The Hill]

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