Author: Adrienne Gonzalez

Adrienne is a 15-year veteran of the accounting industry, if by "veteran" you mean "vulture prowling the periphery of the profession waiting for something exciting to happen." She has been spewing vitriol on Going Concern since the site was founded in 2009. A former CPA review employee, she has sat through more FAR classes than any CPA exam candidate ever could -- even one who has failed FAR seven times -- and can still recall most of the mnemonics all these years later.

How Not to Get Unfollowed on Twitter

The last time I attempted a “How Not to Be a Total Asshat on the Internet” public service message in this arena, I was torn apart for being too harsh so I’ll leave out the specifics and stick to the suggestions. You know who you are.

Keep in mind that what works for some doesn’t work for others and vice versa; we’re specifically talking about how to fit in with the accounting crew, not alienating clients, not come off as too spammy and/or maintain a reasonable professional profile using your Twitter account as a point of contact to your brand. All of you are more than welcome to do whatever you want with your Twitter accounts, the following is meant for professionals or brands.


Actually interact – No one is suggesting you follow every person who follows you or go on some mass following spree to artificially inflate your Internet popularity for appearance’s sake but a good balance of @s with following shows some level of interaction. A lot of firms miss this one and organizations can make the mistake of focusing strictly on their own message and ignoring what others are saying. Don’t do that, jump in and say something.

If the thought ever crosses my mind that you might be a robot, you’re probably not doing it right – You know the one; they have the same not-quite-normal headshot as their avatar and profile shot for every hot social media service available and not a single candid pic of this person “in action.” We don’t suggest drunken Facebook shots to remedy this but it would be nice to confirm that the person behind the account is, in fact, a person with a tweet that doesn’t seem prefabricated or a picture that deviates from the Headshot Series 1. When it’s a little too perfect, it appears suspect. People are less likely to enjoy your message if they are too busy wondering whether or not you’re a machine when reading it.

There is a such thing as TMI – I’m guilty of this one and it’s because I’m really not trying to masquerade as a total professional. Nor am I representing my company when I’m out there tweeting about the crackheads hitting on me at the gas station or meter maids terrorizing me with parking tickets. For some, interacting goes too far and gets way too personal. If you are attempting to represent or have at all associated yourself with your company, be aware that there is still a such thing as privacy. Even if you are only followed by a handful of people, your tweets reach the entire Internet.

RTs and FFs – And please for the love of Bob Herz don’t thank everyone for every RT, nor be the “all day #FF” guy. If you’re spending half your Friday #FFing everyone, you’re A) making unnecessary noise and B) diluting the value you add by suggesting helpful people to follow. Stick to a handful if you’re going to do it all instead of spewing out half your following list.

Oh and auto DMs? They were never really cool and to me they say that you’re too busy to actually say anything to me and inconsiderate of how cluttered my inbox can get. Sorry if this offends anyone who is in love with their own “brilliant” auto DM but I see them as obnoxious. Add to the conversation, not the noise.

Weak Internal Controls at Prometric… Allowed or Bad Form?

Okay, this one pretty much takes the cake as far as CPA exam questions are concerned (as far as I have seen) and if this person is for real, I really really hope they have gotten in touch with the AICPA, NASBA and Prometric for clarification. Is this a legitimate question?

From our friends at the always useful and sometimes entertaining CPAnet forums:

Are you allowed to fart when you take the CPA Exam?


Told you this was a weird one.

The responses are what truly amazed me as we all know accountants are not known for having a good sense of humor if any at all (no offense, you guys know I’m right). Helpful CPAnet members weighed in with everything from “You can on the audit section if you have weak internal control” to “by all means pass GAAS”. One contributor suggested that farting during FAR is completely allowed, as no one wants to waste a precious second excusing themselves after a testlet to go rip one (or four) in the Prometric potty on an exam that’s already short on time. Love it.

We didn’t see “bodily emissions” on the list of banned items at the test center so without confirming for 100% certainty, we’re going to go ahead and say let ‘er rip. Literally. There’s absolutely no reason to hold it in for your fellow test-takers’ sake unless it’s chronic or otherwise obnoxious. But a fart? I don’t see a problem.

Then again, be careful. An accidental shart in the middle of a testlet could cost you your entire exam.

Is Life at the Big 4 Really What Working Mothers Want?

Let’s just say we weren’t surprised to see all 4 Big 4 appear on Working Mother’s 100 Best Companies list, nor were we surprised to see list favorites like Grant Thornton and McGladrey joining them. As is my wont, however, I’m loathe to point out that the definition of “working mother” is a vague one.

It would be ignorant to assume that all working women want are flexible working hours and more than 12 weeks off after squeezing out another kid but once again it appears as though that is the yardstick we’re using. Know what would have really come in handy for me when I first had my son? Time off for his dad so he could stay home with my infant while I escaped to work for a little quiet time with irate customers. Maybe I’m not your average working mother and you are as always welcome to correct me if I don’t represent the status quo but in my view, moms with jobs want more than just a cookie cutter work-life balance. I don’t even know what work-life balance is and am pretty sure the term was made up in some HR braindump meeting, but somehow it exists to this day and supposedly remains the definitive goal of most working women even though it doesn’t even really have a definition. Sorry but I don’t buy it and I don’t know many working women who do.

What working mothers really need is the respect of their peers, opportunities to advance through the firm that are in line with those of their male peers and a work life that doesn’t stress them out to the point that they want to shake the baby and slap the hubby by the time they get home from a grueling work day.

Is that work-life balance? Maybe. Don’t get me started on the idea that all women are motivated by a desire to raise a family either because for some of us work-life balance means being able to balance a cocktail in one hand and the remote in the other at the end of a long day. Where’s the list of top companies for Dads? Bunch of sexists. Oh and pay equal to their male counterparts would also be nice but since we’re still caught up in this antiquated notion that women desire more time off to raise their families, it really shouldn’t be reasonable to expect women to receive equal benefits if they are also requesting special treatment.

Anyway, congratulations to Deloitte, Ernst & Young, KPMG, Grant Thornton, McGladrey and PwC for making the Working Mother list and I’ll keep waiting for the day when we can get over ourselves and admit that we all have unique goals that aren’t always easily defined by nonsensical terms and preconceived notions of what people should desire.

Five Things Every CPA Exam Candidate Needs

Let’s cut right to the chase and get into five things every CPA exam candidate really must have.


1. A good support system Maybe you’re lucky and your significant other has been supporting you all the way through this adventure to licensure but chances are he/she is pissed that you’d rather spend your evenings cuddling your CPA review book than them. Fine, don’t worry about them, worry about yourself and surround yourself with like-minded candidates who can support and inspire you. It can also be helpful to have someone to sit next to you on the pity potty when your scores come back less stellar than you’d hoped. Whether your support system comes from your social circle, coworkers or online forums, find one and use it.

2. A plan No kidding, you need one if you’re going to pull this off. That means scheduling your exams well in advance, plotting your course by creating a detailed study schedule and figuring out how to balance studying and everything else in your life. The better you plan ahead of time, the better you’ll do. I don’t have any figures supporting this so you’ll just have to trust me.

3. A Notice to Schedule I’m sure you already know you need an NTS if you’re going to get anywhere. What I mean is, if you’re actually going to take the exam you’ve got to start the application process as soon as possible and make sure you’ve met your state board’s requirements. Find out how long it takes well in advance of actually applying by reading up on your jurisdiction’s requirements and understand how long things take in your state. You can get a lot of this information first-hand from the CPAnet forums or by following the #CPAexam on Twitter. First-hand accounts from actual candidates will offer you more value than the official word from your state board, though their estimate may be somewhat realistic too. Schedule 45 days before your exam so you have one less thing to worry about when studying. If you’re having trouble figuring out how to apply or if you qualify, check out NASBA’s Accounting Licensing Library for help.

4. Faith Oh so cheesy but it works. If you believe that you can get through this, one way or another you will. If you doubt yourself every step of the way, you’re going to suffer appropriately. So it’s generally a wise idea to have some faith in yourself otherwise you’ll be needlessly miserable through most of this entire process. Faith is whatever you define it as, only you know what it means for your particular belief system. Adjust accordingly to your personal circumstances.

5. Discipline You don’t need talent, nor a high IQ, nor a good GPA to get through the CPA exam. You can be marginally skilled in your career and only somewhat intelligent to pass but if you do not bring discipline to the table you’ll never get through it.

Optional additions: a good CPA review program, a reliable caffeine connection, a miserable bastard or two to commiserate with, and/or a good distraction to reward yourself with after you’ve put in your study hours.

Duoyuan Printing Is All Kinds of Screwed Up After Firing Deloitte

By “all kinds of screwed up” we mean “screwed 17 ways to Sunday”. After firing Deloitte last week, two top DY executives (CEO Christopher Holbert and CFO William Suh) have bailed, DYP shares are in the tank (down 47% as of publication) and, oh, they’re going to need to find a new audit committee chairman as their last one, James Zhang, ran for the hills.

Before running, however, he sent this really nice note explaining his motivations:

To: The Board of Duo Yuan Printing(DY).

6th Sept, 2010.

Dear Mr. Chairman and the follow directors of the Board:

Subject: My resignation as Company Audit Committee (AC) Chairman and Independent Director with immediate effect.

It has been almost one year since DY listed in the NYSE. I have to say that working closely with the Chairman, CEO and CFO of the company has been a great pleasure for me.

From Roughly one month ago, I got the phone call from Frank Li, the Audit Partner of Deloitte (DT) to express concerns to the Audit Committee over several financial irregularities and management control weakness. After hearing the full story, I immediately called an AC meeting and upon receiving unanimous approval from the AC as a well as support from the Chairman, the AC immediately engaged Latham Watkins, the US Law Firm, to handle the independent investigation not only to report back to the AC, but also as a part of the audit process requested by DT to give an opinion to the 2010 DY company financials. As our Chairman put it in the board Meeting just now that maybe due to the cross culture differences between US style work and maybe because of the second tier management don’t fully understand the US listing requirements, the investigation has not progressed in the last month. This delay could potentially render the company not filing its annual financial statements on time to the SEC.

In the past week, the Management has suggested to change the auditors of the company from DT to Frazer Frost (FF) who was the company prior auditors. This proposal has just been resolved in the full board meeting and Full AC meeting with voting taking place of 4 against 3 in favor and 2 against 1 in favor.

As the AC chairman and independent Director of the company, I respect the company democratic decision process as stipulated by the company Memorandum and Articles of Association. However, as a qualified UK Chartered Accountant and a trained Professional, I have brought to the attention of the board the following potential risks related to the change of auditors. These risks can be summarized as follows:

1. FF has not yet signed engagement letter with the company which is a risk to the company.

2. Change of auditors during the investigation process could potentially lead to further investigation from the SEC.

3. To change from a Big4 audit firm to a non-Big4 could have very negative impact in the investment community in terms of corporate governance thus lead to potential share price drop and subsequent US class law suit.

4. Even the Company US counsel has indicated in the meeting against change of auditors at this particular time frame.

Keep it classy, JZ, and good luck wherever you end up after this disaster of a company.

Protecting Your Online Identity or, Alternatively, How Not to Get Busted Being a Subversive at Work

It amazes me that fairly intelligent people manage to do really stupid things, sometimes on a consistent basis. One of these things is being sloppy about one’s online identity or, more specifically, publicly participating in any conversation that might ruffle management’s feathers. What on Earth could I be talking about?

Let’s take a look at the popular public accounting video series by YouTube user witn3ssthefitn3ss – or more specifically, witn3ssthefitn3ss’s 266 subscribers. Among them, several users who have (oh-so-creatively) used their first and last names as user names. Now there probably isn’t anything in your company manual that specifically states you are not allowed to subscribe to YouTube videos that paint the profession in a less than flattering light and let’s face it, odds that HR even knows how to find YouTube are slim to none but regardless, it’s bad Internet behavior and I’ve got to call these kids out for it.


For example, Michael V Staub (YouTube user michaelvstaub, how convenient!) appears to be working for PwC in Chicago. See how easy it is for any idiot to track your activity on the Internets, kids? I just did it and it took me all of two minutes.

Now Mike is more than welcome to subscribe to any YouTube channel he wants to but in an uncertain job market, it might be a better strategy to C.Y.A. (Cover Your Ass) and have the Internet wherewithall to come up with a better user name than, oh, your entire name. Especially if you’re going to be liking videos that make management look like slave-driving taskmasters.

There are more, like Joseph Bailey, an E&Y manager in Florida. Again, maaaaybe there is some other Joseph R. Bailey subscribing to these videos under his real name but we just don’t see it being that much of a coincidence.

The point is, your social identity is as much a commodity as your education and professional experience. Don’t carelessly throw it out there where anyone can track your likes and dislikes. Take the time to separate your personal and professional lives or you can pretty much guarantee a whole bunch of hassle later on down the road. Sure, it was only an accounting video this time but what if management takes it personally and thinks you only liked it because one of them had the audacity to ask you for a McDonald’s Diet Coke?

Watch what you do out there, kids, the entire world is watching. There are billions of usernames you can come up with, don’t make the mistake of using your own first and last unless you are an Internet marketer or sticking strictly to completely safe-for-work material.

Update: Details about licensure have been removed as we have confirmed Illinois’ tricky licensing requirements and our poster in question is, in fact, fully licensed.

What Will Get an East Asian Languages PhD a Job Faster, a JD or an MAcc?

From “sometimes” GC reader JB (ever get the feeling like you’re being used for your snark and career advice?):

I finished up a Ph.D. in East Asian Languages and Civ. from Harvard, speak and read Chinese proficiently (non-native), and I absolutely hate academia. I’m getting out, and that’s that. I know–why invest 10+years of your life in a field getting a Ph.D. if you hate it? Well, it’s too late to change that, and I finished because I wasn’t going to throw away a Ph.D. from Harvard.

My problem is that I need to do something practical in life and fast. I’m old–36–and I’ve been thinking about getting a JD or a Masters in Public Accounting. It seems like the job market is shot for attorneys for the fuabout accounting? Perhaps some of your readers are ex-accountants who moved to law and could shed some light on the current state of both fields? I was thinking about doing the 18 month Masters in Public Accounting at a place like McCombs. Would you and your readers have any thoughts about one’s employability after finishing that program in the current job market?

Okay, lots to digest here. We’ll tackle the accounting angle first:

MAcc Route
McCombs is a good choice but make sure you check out their pre-enrollment requirements. We’re guessing your East Asian Languages background doesn’t cover Macroecon, Microecon, Stats or Intro to Financial Accounting.

That being said, if you do choose the accounting route, some might say a Masters in Accounting is useless while others will say it was the best decision they made. The usefulness you get out of it depends on your intentions, which are wholly unclear. Do you actually want to be a CPA or do you just want a job? Going back to school will at least get you in front of the Big 4 recruiters but they’d much rather take a 20-something with bad social skills and a stellar GPA over a 36 year old with one PhD to his name who A) probably has already formulated his views on the world and is therefore not so easy to persuade any other way and B) could easily leave them the minute the job market picks up for something bigger and better. Your language skills are extremely attractive however, so if you were interested in working in Asia (granted, this is probably a number of years into your accounting career) that could play in your favor.

JD Route
Accounting programs are not pimped and packaged like law programs, so there are fewer grads looking for jobs but in the United States being able to sue someone is a far greater skill to have than being able to depreciate someone’s PP&E so there are more law positions to lose. Check out our recent post on CPAs thinking about law school and you’ll find most lawyers (the non-CPAs, mind you) that jumped in the discussion would have done things differently. Spend five minutes perusing Above the Law Editor Elie Mystal’s posts and you’ll change your mind pretty quickly about pursuing a law degree. Again, your language skills are a big plus, play that up.

The Answer(ish)
To answer your question directly, the MAcc route is your best bet. However, you’re swimming an uphill battle trying to elbow your way into public accounting. I used to scratch my head wondering why some truly intelligent, qualified individuals couldn’t seem to find a job then it dawned on me that the firms like someone blank and pliable, not a free-thinker with goals that aren’t easily molded to meet their careful definitions of “work-life” and “life in general”.

If you play the game and don’t try to appear too ambitious, you might have a shot in public. But you’re better off figuring out what you actually want to do with your life and not wasting another 10 years working up towards making that decision. Good luck.

How To Get “Monitoring The Conversation” Right

Being an incendiary, I’m used to getting unfollowed, ignored and even blocked (yes @mark_to_market blocked me, Lord knows who else, I stopped caring at 2000) and I’m definitely used to seeing the rats scatter across my stats every time I mention [insert firm or company name here] so it’s obvious to me from my various online interactions that some communications departments are keeping an eye on the conversation.

Since we’re all interested in the accounting side of things, I have to say that I notice more “official-looking” Twitter activity from firms based outside of the US (generally Big 4 coming from the UK or Canada) that leads me to believe most of them are at least keeping an eye on the Google alerts. PwC had the large pair to follow me once, very early on, and probably unfollowed when I started ripping on them for bumbling Satyam. Anyway, someone has to watch what’s being said and a company (or organization) can only choose to engage or not engage.

Engaging, of course, comes in several forms but to vaguely pin down what “engage” means, I’d define it as any activity that alerts others they are listening and/or give a shit.


For Comcast, they swarm Twitter responding to complaints about their crappy service, extortion boxes, and complicated remotes. Not all companies choose to take that route, nor should they be expected to. Protecting or guarding your brand means figuring out how much “engaging” is appropriate as any more or less than is appropriate for your particular organization’s needs will come off as fake, lame or just forced. And no one wants to interact with that.

For Dave and Buster’s, I give them credit for totally engaging me by following me. I’ve been publicly ripping on them for at least a week but I’m not doing it just to be mean, I’d really really like to know what went down with E&Y (welcome to your new gig, KPMG). I’ve never actually been in a D&B and any inquisitive tweets on my part were not returned but so far they haven’t sued me so I guess I’m doing well on that front.

Some agencies choose to completely ignore some of the more “questionable” interaction that isn’t exactly a pissed off customer. They’re already trained to handle that (any social media idiot can teach you how to talk to customers who talk about you in a list of 3 items or more) but they aren’t likely prepared for a fake accounting firm to ask them if newly-single D&B would want to try them out as auditors.

I don’t expect Dave & Buster’s to answer or acknowledge that but following me shows that they are at least aware I’m trying to egg them on and aren’t afraid of my bitch ass. Unlike the fake accounting firm, I’m a voice out there spreading whatever I know about [insert company] to a huge audience. They can’t send me 10,000 free tickets to shut my trap and I’m not exactly making a complaint they can resolve so what can they do? Keep an eye on me?

I admire that tactic. And may leave them alone… I’m more likely to do so if I get a tweet about what happened with E&Y but won’t be holding my breath for that particular @.

I’m Not Impressed With FASB’s New Twitter Account

When @FAFNorwalk launched on August 4, 2010, it was supposed to be an awesome attempt at connecting government accounting to the 439 people interested in it (don’t trip, FAFN, y’all will get your massive following).

The day after signing up, they mustered up the courage to send out their first tweet:

Welcome to FAF/FASB/GASB! Stay Tuned For Updates.


First of all, we’re not sure if FAF, FASB and GASB know this but Twitter accounts are free so you are totally allowed to get your own. As far as I know, you are even allowed to get several as long as you can come up with an email address for it so there’s no need to share, although that can get messy. What if one of you is trying to tweet about the latest comment period (Disclosures of Certain Loss Contingencies – I’m sure that will garner quite a bit of interesting commentary) while the other wants to talk about new lease rules?

Secondly, is this the best they can do? I’d really like to see some more thoughtful commentary from Norwalk that truly opens the conversation. They can think of this as a comment letter in 140 characters.

Thirdly, what’s up with the one and only person FAFNorwalk is following? We don’t know who the hell @Badwissen is but maybe they are just really into FASBs and @FAFN could totally vibe that when they started their little Twitter co-op.

Lastly, let’s try to work a little better on the turnaround, eh @FAFN? Compliance Week already had an entire story up about new lease rules by the time @FAFN got around to tweeting about it… fine, @FAFN tweeted it around 2 and the CW story went up after 5 but still, with @FAFN’s access to insider information, I want to see @FAFN tweets about lease rules a full two hours (or a day!) before anyone, come on.

If you are looking for a truly dull Twitter follow with zero interaction, @FAFNorwalk is totally for you. Personally I like my accounting feeds with slightly more bite, even if that means a simple @ every now and then.

How’s that for a fucking comment letter?

Earlier:
Wonky Accounting Insight in 140 Characters or Less: The FASB Is Now on Twitter

I Don’t Want to Talk About the CPA Exam Anymore

It’s September, you guys are wearing my ass out with these 2011 questions and really I haven’t heard from very many of you lately so I guess that means you’ve got your heads buried in FAR. So I’m pretty much done for awhile unless you come up with some pressing issues that you need addressed. If you do, let me know. Otherwise let’s go back to one of my very favorite CPA exam items ever, the Ethical Craiglister.

Rest assured this person posted in 2002 so A) hopefully they’ve brushed up on their ethics, especially if they did end up scoring someone to help and B) the exam is now computerized, locked-down and way more monitored than it was back when this idiot posted on Craigslist for someone to take the ethics exam for him.

I think it’s the “serious replies only” that I really love about it. Like he expected to get flash and comment letters about what a disgrace to the profession he is.

I need someone to take CPA Ethics test for me
Date: 2002-01-03, 10:08PM PST

Local CPA candidate has no time to study; will PAY you to take the ethics exam for me! Serious replies, only. You must have passed test in California within last two years.

Hey, if you see this, please get in touch with me and let me know how that worked out. I’m really fucking curious to see how your life ended up after you were unleashed on public accounting.

Five More Facebook Fan Pages For Accountants

Our friends at FINS recently posted some must-fan Facebook pages specifically for accountants and though we agree with their suggestions, we thought it would be prudent to add a few of our own.

Before we get to those, though, let’s talk about the five FINS listed.


1. The Big 4 (all of them, if you’re really really excited to land that dream public accounting gig you’ve always dreamed of… hooRAH!)
2. AICPA
3. Journal of Accountancy
4. CPA Technology Advisor
5. Local CPA Societies

These are all great suggestions but let’s be real about it, a good number of us use our Facebook pages for so much more than professional networking. So how about some real-world suggestions for the accounting folk out there?

1. Vodka. I don’t care if you prefer martinis or homebrew, by fanning vodka you are reiterating your commitment to professionalism in all you do as per the AICPA Code of Professional Conduct. Trust us, it’s a lot easier to be ethical and bring in clients when you’ve been on a weekend-long bender and simply don’t care anymore.

2. Accountants do it with double-entry. There’s no need to perpetuate stereotypes of the boring accountant, go ahead and shock your conservative pals by fanning this group to show that you DO, in fact, have a sense of humor and even choose to exercise it every now and then.

3. Accountants are sexy. Well? They are, dammit, especially if you followed our advice and got into the vodka. A couple of those and that mousy chick in the cube next door will be EXTRA sexy.

4. Stuff Accountants Like. Even though SAL has taken a possibly permanent vacay from blogging, reading through past entries is still entertaining if you haven’t read them before. Great for when you’re taking a break between vodka and reconciliation.

5. Going Concern. Listen, FINS, we aren’t offended that you accidentally left us off your list. But don’t expect us to share any of our vodka with you.