If Orwell had written an allegory of capitalism, we’re sure his vision would have included Benjamin Bankes.
Jump over the original post to leave your caption for Ben’s appearance at the New York City Marathon. We’ll take submissions through the end of the day tomorrow.
Related Posts
The AICPA Has Nuked The CPA2Biz Brand in Favor of CPA.com
You will recall a few years back, the AICPA started offering the licensed AICPA members […]
Why Do the FASB and IASB Always Insist on Mission Impossible?
Can anyone explain why accounting regulators have the annoying tendency to see a HUGE problem and insist on fixing it when the logistics are seemingly impossible to overcome? It’s commendable to try and solve big problems but it seems that the geeky egos of accountants often get in the way of reality.
CFO.com has a story about the FASB and IASB’s “dream” to get accounting standards down to one model for revenue recognition. ONE!
According to the article, the FASB’s revenue recognition rules are currently spread among 100 standards, so obviously there’s room for improvement but shrinking all that down to one model? Talk about herding cats.
We’re not hating on the standard setters (well, let’s face it, maybe a little) for considering this task but these dweebs can’t even get on the same page re: convergence timing so we’ll be taking the overs on the number of years when this single model pipe dream actually gets off the ground.
Revenue Recognition: Will a Single Model Fly? [CFO.com]
Five Year Outlook: Will You Be an Accountant?
Stupid question you say? Okay but a recent survey done by E-conomic says a nearly half of our friends across the pond want to be doing something else in five years because the tax and financial reporting regulation will continue to be a nightmare.
The difference between wanting to do something else and actually doing something else is well, sorta big.
Accountancy Age:
Anders Bjornsbo, E-conomic’s operational director, said: “It’s alarming that half the accountants we spoke to said they were thinking of leaving the profession. While that’s unlikely to happen, it is perhaps illustrative of the dissatisfaction and disillusionment felt by accountants today.”
Dissatisfaction and disillusionment is something that has been discussed here in spades on our exodus post. But people getting out of the numbers game altogether? Bah. That just doesn’t strike us as a trend we’ll see soon. The survey indicates that most of you will seek advisory gigs as more compliance work moves offshore, “[T]hree quarters seeing themselves moving away from their traditional role to a more profitable consultant and business adviser position.”
That sounds about right. Despite the widespread misery, there are too many jobs out there that pay well. And let’s face it, you guys like money. You’re not going to leave it all behind to join the clergy or become philosophers.
Discuss your outlook and if you’re leaving the traditional accountant life behind for the advisory world or if you’re a lifer as tax/audit/financial reporting. And if you’re leaving all the glamor for the Peace Corps, let us know about that too.